JSGM: 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.
JSGM
Largest movements
- Receivables within one year +€72,123
up €72,123 (+62.1%), from €116,149 to €188,272
of which Other amounts receivable: +€85,958
- Other debts +€85,994
up €85,994 (+101.2%), from €84,939 to €170,932
- Debts after one year -€31,009
down €31,009 (-5.9%), from €523,346 to €492,338
- Tax, wage and social debts +€14,581
up €14,581 (+31.9%), from €45,718 to €60,299
of which Remuneration and social security: +€36,000
- Turnover -€100,475
no longer reported in 2025 (was €100,475)
- Gross operating margin +€63,000
up €63,000 (+129.8%), from €48,535 to €111,535
- Purchases and services -€54,823
no longer reported in 2025 (was €54,823)
- Other operating charges +€8,077
up €8,077 (+540.5%), from €1,494 to €9,571
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 | €891,731 | €964,640 | +€72,909 | +8.2% |
| Fixed assets | 21/28 | €626,200 | €625,871 | -€329 | -0.1% |
| Tangible fixed assets | 22/27 | €5,700 | €5,371 | -€329 | -5.8% |
| Furniture and vehicles | 24 | €5,700 | €5,371 | -€329 | -5.8% |
| Financial fixed assets | 28 | €620,500 | €620,500 | = | 0.0% |
| Current assets | 29/58 | €265,530 | €338,768 | +€73,238 | +27.6% |
| Amounts receivable within one year | 40/41 | €116,149 | €188,272 | +€72,123 | +62.1% |
| Trade receivables | 40 | €13,835 | - | -€13,835 | |
| Other amounts receivable | 41 | €102,314 | €188,272 | +€85,958 | +84.0% |
| Cash at bank and in hand | 54/58 | €149,382 | €149,428 | +€46 | 0.0% |
| Deferred charges and accrued income | 490/1 | - | €1,069 | +€1,069 | |
| Total equity and liabilities | 10/49 | €891,731 | €964,640 | +€72,909 | +8.2% |
| Equity | 10/15 | €193,978 | €195,315 | +€1,337 | +0.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,760 | €46,760 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €44,900 | €44,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,018 | €142,355 | +€1,337 | +0.9% |
| Amounts payable | 17/49 | €697,753 | €769,325 | +€71,572 | +10.3% |
| Amounts payable after more than one year | 17 | €523,346 | €492,338 | -€31,009 | -5.9% |
| Financial debts | 170/4 | €523,346 | €492,338 | -€31,009 | -5.9% |
| Amounts payable within one year | 42/48 | €167,207 | €270,589 | +€103,382 | +61.8% |
| Current portion of amounts payable after more than one year | 42 | €30,479 | €31,009 | +€530 | +1.7% |
| Trade debts | 44 | €6,071 | €8,350 | +€2,279 | +37.5% |
| Suppliers | 440/4 | €6,071 | €8,350 | +€2,279 | +37.5% |
| Taxes, remuneration and social security | 45 | €45,718 | €60,299 | +€14,581 | +31.9% |
| Taxes | 450/3 | €45,718 | €24,299 | -€21,419 | -46.9% |
| Remuneration and social security | 454/9 | - | €36,000 | +€36,000 | |
| Other amounts payable | 47/48 | €84,939 | €170,932 | +€85,994 | +101.2% |
| Accrued charges and deferred income | 492/3 | €7,200 | €6,398 | -€802 | -11.1% |
| Turnover | 70 | €100,475 | - | -€100,475 | |
| Goods, raw materials, services and sundry goods | 60/61 | €54,823 | - | -€54,823 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €329 | €329 | = | 0.0% |
| Other operating charges | 640/8 | €1,494 | €9,571 | +€8,077 | +540.5% |
| Gross operating margin | 9900 | €48,535 | €111,535 | +€63,000 | +129.8% |
| Operating profit (loss) | 9901 | €46,712 | €101,635 | +€54,923 | +117.6% |
| Financial income | 75/76B | €14 | €32 | +€18 | +134.5% |
| Recurring financial income | 75 | €14 | €32 | +€18 | +134.5% |
| Financial charges | 65/66B | €9,488 | €9,690 | +€202 | +2.1% |
| Recurring financial charges | 65 | €9,488 | €9,690 | +€202 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €37,237 | €91,976 | +€54,739 | +147.0% |
| Income taxes | 67/77 | €667 | €639 | -€28 | -4.1% |
| Profit (loss) for the period | 9904 | €36,571 | €91,337 | +€54,766 | +149.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,571 | €91,337 | +€54,766 | +149.8% |
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.