JSCO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
JSCO
Largest movements
- Tangible fixed assets +€369,329
up €369,329 (+35.9%), from €1.0m to €1.4m
of which Other tangible fixed assets: +€419,348
- Receivables within one year -€38,960
down €38,960 (-95.7%), from €40,705 to €1,746
of which Other amounts receivable: -€38,060
- Debts after one year +€202,114
up €202,114 (+23.9%), from €845,878 to €1.0m
of which Financial debts: +€199,114
- Other debts +€56,426
up €56,426 (+240.6%), from €23,451 to €79,877
- Profit (loss) carried forward +€48,497
up €48,497, from -€26,569 to €21,928
- Current portion of long-term debt +€16,710
up €16,710 (+21.7%), from €76,871 to €93,582
- Taxes +€12,078
new in 2025: €12,078
- Depreciation -€3,503
down €3,503 (-3.8%), from €91,144 to €87,641
- Gross operating margin +€2,919
up €2,919 (+1.6%), from €178,673 to €181,592
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,118,660 | €1,444,820 | +€326,160 | +29.2% |
| Fixed assets | 21/28 | €1,029,947 | €1,399,276 | +€369,329 | +35.9% |
| Tangible fixed assets | 22/27 | €1,029,637 | €1,398,966 | +€369,329 | +35.9% |
| Land and buildings | 22 | €1,014,062 | €965,975 | -€48,087 | -4.7% |
| Plant, machinery and equipment | 23 | €15,575 | €13,643 | -€1,932 | -12.4% |
| Other tangible fixed assets | 26 | - | €419,348 | +€419,348 | |
| Financial fixed assets | 28 | €310 | €310 | = | 0.0% |
| Current assets | 29/58 | €88,713 | €45,544 | -€43,169 | -48.7% |
| Amounts receivable within one year | 40/41 | €40,705 | €1,746 | -€38,960 | -95.7% |
| Trade receivables | 40 | €2,006 | €1,107 | -€899 | -44.8% |
| Other amounts receivable | 41 | €38,699 | €639 | -€38,060 | -98.3% |
| Current investments | 50/53 | €20,858 | €29,123 | +€8,265 | +39.6% |
| Cash at bank and in hand | 54/58 | €27,149 | €14,675 | -€12,474 | -45.9% |
| Total equity and liabilities | 10/49 | €1,118,660 | €1,444,820 | +€326,160 | +29.2% |
| Equity | 10/15 | €172,306 | €220,802 | +€48,497 | +28.1% |
| Contributions | 10/11 | €147,155 | €147,155 | = | 0.0% |
| Reserves | 13 | €51,720 | €51,720 | = | 0.0% |
| Distributable reserves | 133 | €51,720 | €51,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,569 | €21,928 | +€48,497 | |
| Amounts payable | 17/49 | €946,354 | €1,224,017 | +€277,663 | +29.3% |
| Amounts payable after more than one year | 17 | €845,878 | €1,047,992 | +€202,114 | +23.9% |
| Financial debts | 170/4 | €845,878 | €1,044,992 | +€199,114 | +23.5% |
| Other amounts payable | 178/9 | - | €3,000 | +€3,000 | |
| Amounts payable within one year | 42/48 | €100,476 | €176,025 | +€75,549 | +75.2% |
| Current portion of amounts payable after more than one year | 42 | €76,871 | €93,582 | +€16,710 | +21.7% |
| Trade debts | 44 | €153 | €2,566 | +€2,413 | +1573.0% |
| Suppliers | 440/4 | €153 | €2,566 | +€2,413 | +1573.0% |
| Other amounts payable | 47/48 | €23,451 | €79,877 | +€56,426 | +240.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,144 | €87,641 | -€3,503 | -3.8% |
| Other operating charges | 640/8 | €13,691 | €13,870 | +€179 | +1.3% |
| Gross operating margin | 9900 | €178,673 | €181,592 | +€2,919 | +1.6% |
| Operating profit (loss) | 9901 | €73,837 | €80,081 | +€6,244 | +8.5% |
| Financial income | 75/76B | €279 | €455 | +€175 | +62.7% |
| Recurring financial income | 75 | €279 | €455 | +€175 | +62.7% |
| Financial charges | 65/66B | €20,778 | €19,961 | -€816 | -3.9% |
| Recurring financial charges | 65 | €20,778 | €19,961 | -€816 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €53,339 | €60,574 | +€7,235 | +13.6% |
| Income taxes | 67/77 | - | €12,078 | +€12,078 | |
| Profit (loss) for the period | 9904 | €53,339 | €48,497 | -€4,842 | -9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,339 | €48,497 | -€4,842 | -9.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.