JSD MANAGEMENT: what changed
Two fiscal 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 MANAGEMENT
Largest movements
- Tangible fixed assets -€13,846
down €13,846 (-5.2%), from €267,169 to €253,323
of which Land and buildings: -€8,983
- Debts after one year -€10,770
down €10,770 (-15.5%), from €69,292 to €58,522
- Gross operating margin -€1,443
down €1,443 (-8.1%), from €17,774 to €16,331
- Depreciation -€840
down €840 (-5.7%), from €14,686 to €13,846
- Other operating charges -€275
down €275 (-16.1%), from €1,704 to €1,430
- Financial charges -€217
down €217 (-7.3%), from €2,977 to €2,760
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 | €268,870 | €254,700 | -€14,169 | -5.3% |
| Fixed assets | 21/28 | €267,169 | €253,323 | -€13,846 | -5.2% |
| Tangible fixed assets | 22/27 | €267,169 | €253,323 | -€13,846 | -5.2% |
| Land and buildings | 22 | €208,542 | €199,559 | -€8,983 | -4.3% |
| Plant, machinery and equipment | 23 | €58,627 | €53,764 | -€4,863 | -8.3% |
| Current assets | 29/58 | €1,701 | €1,377 | -€323 | -19.0% |
| Amounts receivable within one year | 40/41 | €64 | €130 | +€66 | +103.0% |
| Other amounts receivable | 41 | €64 | €130 | +€66 | +103.0% |
| Cash at bank and in hand | 54/58 | €789 | €1,248 | +€458 | +58.1% |
| Deferred charges and accrued income | 490/1 | €848 | - | -€848 | |
| Total equity and liabilities | 10/49 | €268,870 | €254,700 | -€14,169 | -5.3% |
| Equity | 10/15 | €95,871 | €94,166 | -€1,704 | -1.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,089 | €2,089 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €229 | €229 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,582 | €85,877 | -€1,704 | -1.9% |
| Amounts payable | 17/49 | €172,999 | €160,534 | -€12,465 | -7.2% |
| Amounts payable after more than one year | 17 | €69,292 | €58,522 | -€10,770 | -15.5% |
| Financial debts | 170/4 | €69,292 | €58,522 | -€10,770 | -15.5% |
| Amounts payable within one year | 42/48 | €103,707 | €102,012 | -€1,695 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €10,416 | €10,770 | +€354 | +3.4% |
| Trade debts | 44 | €121 | €121 | = | 0.0% |
| Suppliers | 440/4 | €121 | €121 | = | 0.0% |
| Other amounts payable | 47/48 | €93,170 | €91,121 | -€2,049 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,686 | €13,846 | -€840 | -5.7% |
| Other operating charges | 640/8 | €1,704 | €1,430 | -€275 | -16.1% |
| Gross operating margin | 9900 | €17,774 | €16,331 | -€1,443 | -8.1% |
| Operating profit (loss) | 9901 | €1,384 | €1,056 | -€328 | -23.7% |
| Financial charges | 65/66B | €2,977 | €2,760 | -€217 | -7.3% |
| Recurring financial charges | 65 | €2,977 | €2,760 | -€217 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,593 | -€1,704 | -€111 | -7.0% |
| Profit (loss) for the period | 9904 | -€1,593 | -€1,704 | -€111 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,593 | -€1,704 | -€111 | -7.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.