JSD IMMO: 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.
JSD IMMO
Largest movements
- Cash -€18,686
down €18,686 (-11.6%), from €161,184 to €142,498
mainly Contributions, distributions and other (-€63,681) and Tax, wage and social debts (-€17,570)
- Receivables within one year -€17,549
down €17,549 (-42.6%), from €41,211 to €23,662
of which Trade receivables: -€31,776
- Tangible fixed assets -€4,371
down €4,371 (-27.7%), from €15,752 to €11,381
of which Plant, machinery and equipment: -€4,314
- Reserves -€58,351
down €58,351 (-33.1%), from €176,166 to €117,816
- Trade debts +€35,377
up €35,377 (+2,485%), from €1,424 to €36,801
- Tax, wage and social debts -€17,570
no longer reported in 2025 (was €17,570)
- Gross operating margin -€25,269
down €25,269 (-58.0%), from €43,576 to €18,307
- Taxes -€9,117
down €9,117 (-77.3%), from €11,795 to €2,677
- Depreciation +€651
up €651 (+7.1%), from €9,225 to €9,876
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.
Derived cash bridge
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 | €220,160 | €179,616 | -€40,544 | -18.4% |
| Fixed assets | 21/28 | €16,652 | €12,281 | -€4,371 | -26.2% |
| Tangible fixed assets | 22/27 | €15,752 | €11,381 | -€4,371 | -27.7% |
| Plant, machinery and equipment | 23 | €15,696 | €11,381 | -€4,314 | -27.5% |
| Furniture and vehicles | 24 | €57 | - | -€57 | |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €203,508 | €167,335 | -€36,173 | -17.8% |
| Amounts receivable within one year | 40/41 | €41,211 | €23,662 | -€17,549 | -42.6% |
| Trade receivables | 40 | €41,211 | €9,435 | -€31,776 | -77.1% |
| Other amounts receivable | 41 | - | €14,227 | +€14,227 | |
| Cash at bank and in hand | 54/58 | €161,184 | €142,498 | -€18,686 | -11.6% |
| Deferred charges and accrued income | 490/1 | €1,112 | €1,175 | +€63 | +5.6% |
| Total equity and liabilities | 10/49 | €220,160 | €179,616 | -€40,544 | -18.4% |
| Equity | 10/15 | €201,166 | €142,816 | -€58,351 | -29.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €176,166 | €117,816 | -€58,351 | -33.1% |
| Distributable reserves | 133 | €176,166 | €117,816 | -€58,351 | -33.1% |
| Amounts payable | 17/49 | €18,994 | €36,801 | +€17,807 | +93.8% |
| Amounts payable within one year | 42/48 | €18,994 | €36,801 | +€17,807 | +93.8% |
| Trade debts | 44 | €1,424 | €36,801 | +€35,377 | +2,485% |
| Suppliers | 440/4 | €1,424 | €36,801 | +€35,377 | +2,485% |
| Taxes, remuneration and social security | 45 | €17,570 | - | -€17,570 | |
| Taxes | 450/3 | €17,570 | - | -€17,570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,225 | €9,876 | +€651 | +7.1% |
| Other operating charges | 640/8 | €481 | €465 | -€16 | -3.3% |
| Gross operating margin | 9900 | €43,576 | €18,307 | -€25,269 | -58.0% |
| Operating profit (loss) | 9901 | €33,870 | €7,966 | -€25,905 | -76.5% |
| Financial income | 75/76B | €46 | €42 | -€4 | -9.1% |
| Recurring financial income | 75 | €46 | €42 | -€4 | -9.1% |
| Financial charges | 65/66B | €10 | - | -€10 | |
| Recurring financial charges | 65 | €10 | - | -€10 | |
| Profit (loss) for the period before taxes | 9903 | €33,906 | €8,007 | -€25,899 | -76.4% |
| Income taxes | 67/77 | €11,795 | €2,677 | -€9,117 | -77.3% |
| Profit (loss) for the period | 9904 | €22,111 | €5,330 | -€16,781 | -75.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,111 | €5,330 | -€16,781 | -75.9% |
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 19 October 2026 via checked.be.