JSG: 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.
JSG
Largest movements
- Cash -€69,856
down €69,856 (-66.9%), from €104,473 to €34,617
mainly Receivables within one year (-€51,894) and Other debts (-€36,108)
- Receivables within one year +€51,894
up €51,894 (+1265.7%), from €4,100 to €55,994
of which Other amounts receivable: +€54,128
- Deferred charges and accrued income +€8,482
up €8,482 (+187.8%), from €4,517 to €12,999
- Tangible fixed assets -€1,970
down €1,970 (-3.7%), from €53,932 to €51,962
of which Land and buildings: -€1,308
- Other debts -€36,108
down €36,108 (-100.0%), from €36,108 to €0
- Reserves +€21,130
up €21,130 (+25.2%), from €83,882 to €105,012
of which Distributable reserves: +€21,130
- Accrued charges and deferred income +€4,402
up €4,402 (+2326.3%), from €189 to €4,591
- Financial income +€2,452
up €2,452 (+942.4%), from €260 to €2,712
- Gross operating margin -€929
down €929 (-2.6%), from €35,759 to €34,830
- Taxes +€376
up €376 (+4.0%), from €9,485 to €9,861
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 | €169,188 | €157,678 | -€11,510 | -6.8% |
| Fixed assets | 21/28 | €56,098 | €54,068 | -€2,030 | -3.6% |
| Tangible fixed assets | 22/27 | €53,932 | €51,962 | -€1,970 | -3.7% |
| Land and buildings | 22 | €47,738 | €46,430 | -€1,308 | -2.7% |
| Other tangible fixed assets | 26 | €6,194 | €5,532 | -€661 | -10.7% |
| Financial fixed assets | 28 | €2,166 | €2,106 | -€61 | -2.8% |
| Current assets | 29/58 | €113,090 | €103,610 | -€9,480 | -8.4% |
| Amounts receivable within one year | 40/41 | €4,100 | €55,994 | +€51,894 | +1265.7% |
| Trade receivables | 40 | €4,100 | €1,866 | -€2,234 | -54.5% |
| Other amounts receivable | 41 | - | €54,128 | +€54,128 | |
| Cash at bank and in hand | 54/58 | €104,473 | €34,617 | -€69,856 | -66.9% |
| Deferred charges and accrued income | 490/1 | €4,517 | €12,999 | +€8,482 | +187.8% |
| Total equity and liabilities | 10/49 | €169,188 | €157,678 | -€11,510 | -6.8% |
| Equity | 10/15 | €124,679 | €145,809 | +€21,130 | +16.9% |
| Contributions | 10/11 | €40,797 | €40,797 | = | 0.0% |
| Reserves | 13 | €83,882 | €105,012 | +€21,130 | +25.2% |
| Non-distributable reserves | 130/1 | €2,285 | €2,285 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,285 | €2,285 | = | 0.0% |
| Distributable reserves | 133 | €81,597 | €102,727 | +€21,130 | +25.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €44,509 | €11,869 | -€32,640 | -73.3% |
| Amounts payable within one year | 42/48 | €44,320 | €7,278 | -€37,042 | -83.6% |
| Trade debts | 44 | €1,658 | €1,042 | -€616 | -37.2% |
| Suppliers | 440/4 | €1,658 | €1,042 | -€616 | -37.2% |
| Taxes, remuneration and social security | 45 | €6,554 | €6,236 | -€318 | -4.9% |
| Taxes | 450/3 | €6,554 | €6,236 | -€318 | -4.9% |
| Other amounts payable | 47/48 | €36,108 | €0 | -€36,108 | -100.0% |
| Accrued charges and deferred income | 492/3 | €189 | €4,591 | +€4,402 | +2326.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,728 | €1,970 | +€242 | +14.0% |
| Other operating charges | 640/8 | €4,223 | €4,351 | +€128 | +3.0% |
| Gross operating margin | 9900 | €35,759 | €34,830 | -€929 | -2.6% |
| Operating profit (loss) | 9901 | €29,809 | €28,510 | -€1,299 | -4.4% |
| Financial income | 75/76B | €260 | €2,712 | +€2,452 | +942.4% |
| Recurring financial income | 75 | €260 | €2,712 | +€2,452 | +942.4% |
| Financial charges | 65/66B | €259 | €232 | -€28 | -10.6% |
| Recurring financial charges | 65 | €259 | €232 | -€28 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €29,810 | €30,990 | +€1,180 | +4.0% |
| Income taxes | 67/77 | €9,485 | €9,861 | +€376 | +4.0% |
| Profit (loss) for the period | 9904 | €20,325 | €21,130 | +€805 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,325 | €21,130 | +€805 | +4.0% |
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 30 September 2026 via checked.be.