JSE Consult: 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.
JSE Consult
Largest movements
- Cash -€15,006
down €15,006 (-43.8%), from €34,250 to €19,244
mainly Contributions, distributions and other (-€33,742) and Tax, wage and social debts (-€3,970)
- Receivables within one year -€10,000
no longer reported in 2025 (was €10,000)
- Tangible fixed assets -€1,371
down €1,371 (-92.1%), from €1,489 to €118
- Profit (loss) carried forward -€33,430
down €33,430 (-99.1%), from €33,742 to €312
- Other debts +€12,653
new in 2025: €12,653
- Tax, wage and social debts -€3,970
down €3,970 (-74.2%), from €5,349 to €1,380
- Current portion of long-term debt -€1,235
no longer reported in 2025 (was €1,235)
- Gross operating margin -€42,418
down €42,418 (-90.5%), from €46,848 to €4,431
- Taxes -€7,495
down €7,495 (-84.5%), from €8,875 to €1,380
- Depreciation -€5,841
down €5,841 (-81.0%), from €7,213 to €1,371
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 | €45,739 | €19,362 | -€26,377 | -57.7% |
| Fixed assets | 21/28 | €1,489 | €118 | -€1,371 | -92.1% |
| Tangible fixed assets | 22/27 | €1,489 | €118 | -€1,371 | -92.1% |
| Furniture and vehicles | 24 | €1,489 | €118 | -€1,371 | -92.1% |
| Current assets | 29/58 | €44,250 | €19,244 | -€25,006 | -56.5% |
| Amounts receivable within one year | 40/41 | €10,000 | - | -€10,000 | |
| Other amounts receivable | 41 | €10,000 | - | -€10,000 | |
| Cash at bank and in hand | 54/58 | €34,250 | €19,244 | -€15,006 | -43.8% |
| Total equity and liabilities | 10/49 | €45,739 | €19,362 | -€26,377 | -57.7% |
| Equity | 10/15 | €38,742 | €5,312 | -€33,430 | -86.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,742 | €312 | -€33,430 | -99.1% |
| Amounts payable | 17/49 | €6,997 | €14,050 | +€7,053 | +101% |
| Amounts payable within one year | 42/48 | €6,997 | €14,050 | +€7,053 | +101% |
| Current portion of amounts payable after more than one year | 42 | €1,235 | - | -€1,235 | |
| Trade debts | 44 | €412 | €17 | -€396 | -95.9% |
| Suppliers | 440/4 | €412 | €17 | -€396 | -95.9% |
| Taxes, remuneration and social security | 45 | €5,349 | €1,380 | -€3,970 | -74.2% |
| Taxes | 450/3 | €5,349 | €1,380 | -€3,970 | -74.2% |
| Other amounts payable | 47/48 | - | €12,653 | +€12,653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,213 | €1,371 | -€5,841 | -81.0% |
| Other operating charges | 640/8 | €794 | €1,220 | +€425 | +53.6% |
| Gross operating margin | 9900 | €46,848 | €4,431 | -€42,418 | -90.5% |
| Operating profit (loss) | 9901 | €38,842 | €1,840 | -€37,002 | -95.3% |
| Financial charges | 65/66B | €203 | €148 | -€54 | -26.9% |
| Recurring financial charges | 65 | €203 | €148 | -€54 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €38,639 | €1,692 | -€36,947 | -95.6% |
| Income taxes | 67/77 | €8,875 | €1,380 | -€7,495 | -84.5% |
| Profit (loss) for the period | 9904 | €29,764 | €312 | -€29,452 | -99.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,764 | €312 | -€29,452 | -99.0% |
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 28 October 2026 via checked.be.