JSG: 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.
JSG
Largest movements
- Receivables within one year +€2,009
new in 2025: €2,009
- Tangible fixed assets -€1,883
down €1,883 (-19.5%), from €9,633 to €7,750
of which Furniture and vehicles: -€975
- Cash -€691
down €691 (-27.4%), from €2,518 to €1,827
mainly Debts after one year (-€6,304) and Receivables within one year (-€2,009)
- Debts after one year -€6,304
down €6,304 (-21.5%), from €29,332 to €23,028
- Reserves +€4,070
up €4,070 (+23.5%), from €17,351 to €21,420
- Tax, wage and social debts +€3,809
up €3,809 (+44.9%), from €8,474 to €12,283
- Trade debts -€1,646
down €1,646 (-47.7%), from €3,453 to €1,807
- Gross operating margin -€27,083
down €27,083 (-81.9%), from €33,056 to €5,973
- Taxes -€6,033
down €6,033 (-87.0%), from €6,935 to €902
- Financial income +€5,112
new in 2025: €5,112
- Financial charges -€1,988
down €1,988 (-49.9%), from €3,983 to €1,995
- Other operating charges -€349
down €349 (-32.2%), from €1,081 to €733
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 | €68,721 | €68,676 | -€45 | -0.1% |
| Fixed assets | 21/28 | €65,633 | €63,750 | -€1,883 | -2.9% |
| Tangible fixed assets | 22/27 | €9,633 | €7,750 | -€1,883 | -19.5% |
| Plant, machinery and equipment | 23 | €1,589 | €1,058 | -€531 | -33.4% |
| Furniture and vehicles | 24 | €4,474 | €3,499 | -€975 | -21.8% |
| Other tangible fixed assets | 26 | €3,570 | €3,193 | -€377 | -10.6% |
| Financial fixed assets | 28 | €56,000 | €56,000 | = | 0.0% |
| Current assets | 29/58 | €3,088 | €4,926 | +€1,838 | +59.5% |
| Amounts receivable within one year | 40/41 | - | €2,009 | +€2,009 | |
| Other amounts receivable | 41 | - | €2,009 | +€2,009 | |
| Cash at bank and in hand | 54/58 | €2,518 | €1,827 | -€691 | -27.4% |
| Deferred charges and accrued income | 490/1 | €570 | €1,090 | +€520 | +91.2% |
| Total equity and liabilities | 10/49 | €68,721 | €68,676 | -€45 | -0.1% |
| Equity | 10/15 | €20,351 | €24,420 | +€4,070 | +20.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €17,351 | €21,420 | +€4,070 | +23.5% |
| Distributable reserves | 133 | €17,351 | €21,420 | +€4,070 | +23.5% |
| Amounts payable | 17/49 | €48,370 | €44,256 | -€4,115 | -8.5% |
| Amounts payable after more than one year | 17 | €29,332 | €23,028 | -€6,304 | -21.5% |
| Financial debts | 170/4 | €29,332 | €23,028 | -€6,304 | -21.5% |
| Amounts payable within one year | 42/48 | €19,038 | €21,228 | +€2,190 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €5,970 | €6,304 | +€334 | +5.6% |
| Trade debts | 44 | €3,453 | €1,807 | -€1,646 | -47.7% |
| Suppliers | 440/4 | €3,453 | €1,807 | -€1,646 | -47.7% |
| Taxes, remuneration and social security | 45 | €8,474 | €12,283 | +€3,809 | +44.9% |
| Taxes | 450/3 | €8,474 | €12,283 | +€3,809 | +44.9% |
| Other amounts payable | 47/48 | €1,140 | €833 | -€307 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,874 | €2,552 | -€321 | -11.2% |
| Other operating charges | 640/8 | €1,081 | €733 | -€349 | -32.2% |
| Gross operating margin | 9900 | €33,056 | €5,973 | -€27,083 | -81.9% |
| Operating profit (loss) | 9901 | €29,101 | €2,688 | -€26,413 | -90.8% |
| Financial income | 75/76B | - | €5,112 | +€5,112 | |
| Recurring financial income | 75 | - | €5,112 | +€5,112 | |
| Financial charges | 65/66B | €3,983 | €1,995 | -€1,988 | -49.9% |
| Recurring financial charges | 65 | €3,983 | €1,995 | -€1,988 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €25,119 | €5,805 | -€19,314 | -76.9% |
| Income taxes | 67/77 | €6,935 | €902 | -€6,033 | -87.0% |
| Profit (loss) for the period | 9904 | €18,184 | €4,903 | -€13,281 | -73.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,184 | €4,903 | -€13,281 | -73.0% |
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 15 October 2026 via checked.be.