S & J: 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.
S & J
Largest movements
- Cash -€178,282
down €178,282 (-90.6%), from €196,691 to €18,409
mainly Receivables within one year (-€157,386) and Debts after one year (-€132,880)
- Receivables within one year +€157,386
up €157,386 (+2786.0%), from €5,649 to €163,036
of which Other amounts receivable: +€163,008
- Tangible fixed assets -€83,310
down €83,310 (-2.5%), from €3.3m to €3.3m
of which Land and buildings: -€81,741
- Debts after one year -€132,880
down €132,880 (-6.9%), from €1.9m to €1.8m
of which Financial debts: -€114,880
- Financial charges -€11,420
down €11,420 (-23.6%), from €48,435 to €37,015
- Gross operating margin -€7,430
down €7,430 (-4.2%), from €176,386 to €168,957
- Financial income +€3,887
new in 2025: €3,887
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 | €3,545,952 | €3,441,945 | -€104,007 | -2.9% |
| Fixed assets | 21/28 | €3,338,567 | €3,255,257 | -€83,310 | -2.5% |
| Tangible fixed assets | 22/27 | €3,338,567 | €3,255,257 | -€83,310 | -2.5% |
| Land and buildings | 22 | €3,332,250 | €3,250,509 | -€81,741 | -2.5% |
| Furniture and vehicles | 24 | €6,317 | €4,748 | -€1,569 | -24.8% |
| Current assets | 29/58 | €207,385 | €186,688 | -€20,697 | -10.0% |
| Amounts receivable within one year | 40/41 | €5,649 | €163,036 | +€157,386 | +2786.0% |
| Trade receivables | 40 | €5,649 | €28 | -€5,621 | -99.5% |
| Other amounts receivable | 41 | - | €163,008 | +€163,008 | |
| Cash at bank and in hand | 54/58 | €196,691 | €18,409 | -€178,282 | -90.6% |
| Deferred charges and accrued income | 490/1 | €5,045 | €5,243 | +€198 | +3.9% |
| Total equity and liabilities | 10/49 | €3,545,952 | €3,441,945 | -€104,007 | -2.9% |
| Equity | 10/15 | €1,485,900 | €1,501,218 | +€15,318 | +1.0% |
| Contributions | 10/11 | €1,762,000 | €1,762,000 | = | 0.0% |
| Capital | 10 | €1,762,000 | €1,762,000 | = | 0.0% |
| Issued capital | 100 | €1,762,000 | €1,762,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€282,300 | -€266,982 | +€15,318 | +5.4% |
| Amounts payable | 17/49 | €2,060,052 | €1,940,727 | -€119,325 | -5.8% |
| Amounts payable after more than one year | 17 | €1,912,880 | €1,780,000 | -€132,880 | -6.9% |
| Financial debts | 170/4 | €1,894,880 | €1,780,000 | -€114,880 | -6.1% |
| Other amounts payable | 178/9 | €18,000 | - | -€18,000 | |
| Amounts payable within one year | 42/48 | €142,856 | €157,567 | +€14,711 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €114,000 | €114,000 | = | 0.0% |
| Trade debts | 44 | €28,856 | €43,567 | +€14,711 | +51.0% |
| Suppliers | 440/4 | €28,856 | €43,567 | +€14,711 | +51.0% |
| Accrued charges and deferred income | 492/3 | €4,316 | €3,160 | -€1,156 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,739 | €93,114 | +€1,375 | +1.5% |
| Other operating charges | 640/8 | €26,080 | €27,397 | +€1,317 | +5.1% |
| Gross operating margin | 9900 | €176,386 | €168,957 | -€7,430 | -4.2% |
| Operating profit (loss) | 9901 | €58,568 | €48,445 | -€10,122 | -17.3% |
| Financial income | 75/76B | - | €3,887 | +€3,887 | |
| Recurring financial income | 75 | - | €3,887 | +€3,887 | |
| Financial charges | 65/66B | €48,435 | €37,015 | -€11,420 | -23.6% |
| Recurring financial charges | 65 | €48,435 | €37,015 | -€11,420 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €10,133 | €15,318 | +€5,185 | +51.2% |
| Profit (loss) for the period | 9904 | €10,133 | €15,318 | +€5,185 | +51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,133 | €15,318 | +€5,185 | +51.2% |
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 10 October 2026 via checked.be.