SBJM: 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.
SBJM
Largest movements
- Stocks and contracts -€26,795
down €26,795 (-12.6%), from €212,274 to €185,479
- Cash -€7,089
down €7,089 (-41.4%), from €17,124 to €10,034
mainly Other debts (-€25,675) and Tax, wage and social debts (-€11,016)
- Tangible fixed assets -€4,963
down €4,963 (-18.2%), from €27,292 to €22,329
of which Furniture and vehicles: -€2,929
- Receivables within one year +€3,152
up €3,152 (+169.2%), from €1,863 to €5,014
of which Trade receivables: +€3,166
- Other debts -€25,675
down €25,675 (-25.8%), from €99,525 to €73,850
- Profit (loss) carried forward +€18,324
up €18,324 (+22.9%), from -€80,036 to -€61,712
- Tax, wage and social debts -€11,016
down €11,016 (-15.1%), from €72,911 to €61,896
of which Taxes: -€24,109
- Current portion of long-term debt -€9,959
down €9,959 (-66.0%), from €15,084 to €5,125
- Debts after one year -€6,250
down €6,250 (-23.9%), from €26,189 to €19,939
- Gross operating margin +€103,982
up €103,982 (+839.2%), from €12,391 to €116,373
- Financial charges -€21,043
down €21,043 (-90.7%), from €23,193 to €2,150
of which Non-recurring financial charges: -€20,969
- Other operating charges -€3,814
down €3,814 (-67.4%), from €5,660 to €1,847
- Staff costs +€2,831
up €2,831 (+3.3%), from €86,097 to €88,928
- Financial income +€1,940
up €1,940 (+222.9%), from €870 to €2,810
of which Financial income: +€1,940
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 | €271,423 | €233,898 | -€37,525 | -13.8% |
| Fixed assets | 21/28 | €40,134 | €33,371 | -€6,763 | -16.9% |
| Intangible fixed assets | 21 | €4,356 | €2,556 | -€1,800 | -41.3% |
| Tangible fixed assets | 22/27 | €27,292 | €22,329 | -€4,963 | -18.2% |
| Furniture and vehicles | 24 | €8,098 | €5,169 | -€2,929 | -36.2% |
| Other tangible fixed assets | 26 | €19,194 | €17,160 | -€2,034 | -10.6% |
| Financial fixed assets | 28 | €8,486 | €8,486 | = | 0.0% |
| Current assets | 29/58 | €231,289 | €200,527 | -€30,762 | -13.3% |
| Stocks and contracts in progress | 3 | €212,274 | €185,479 | -€26,795 | -12.6% |
| Stocks | 30/36 | €212,274 | €185,479 | -€26,795 | -12.6% |
| Amounts receivable within one year | 40/41 | €1,863 | €5,014 | +€3,152 | +169.2% |
| Trade receivables | 40 | €1,849 | €5,014 | +€3,166 | +171.2% |
| Other amounts receivable | 41 | €14 | €0 | -€14 | -100.0% |
| Cash at bank and in hand | 54/58 | €17,124 | €10,034 | -€7,089 | -41.4% |
| Deferred charges and accrued income | 490/1 | €29 | €0 | -€29 | -100.0% |
| Total equity and liabilities | 10/49 | €271,423 | €233,898 | -€37,525 | -13.8% |
| Equity | 10/15 | -€76,036 | -€57,712 | +€18,324 | +24.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,036 | -€61,712 | +€18,324 | +22.9% |
| Amounts payable | 17/49 | €347,459 | €291,610 | -€55,849 | -16.1% |
| Amounts payable after more than one year | 17 | €26,189 | €19,939 | -€6,250 | -23.9% |
| Financial debts | 170/4 | €26,189 | €19,939 | -€6,250 | -23.9% |
| Amounts payable within one year | 42/48 | €321,270 | €271,671 | -€49,599 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €15,084 | €5,125 | -€9,959 | -66.0% |
| Trade debts | 44 | €133,751 | €130,802 | -€2,949 | -2.2% |
| Suppliers | 440/4 | €133,751 | €130,802 | -€2,949 | -2.2% |
| Taxes, remuneration and social security | 45 | €72,911 | €61,896 | -€11,016 | -15.1% |
| Taxes | 450/3 | €72,911 | €48,802 | -€24,109 | -33.1% |
| Remuneration and social security | 454/9 | - | €13,093 | +€13,093 | |
| Other amounts payable | 47/48 | €99,525 | €73,850 | -€25,675 | -25.8% |
| Remuneration, social security and pensions | 62 | €86,097 | €88,928 | +€2,831 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,277 | €7,944 | -€1,333 | -14.4% |
| Other operating charges | 640/8 | €5,660 | €1,847 | -€3,814 | -67.4% |
| Gross operating margin | 9900 | €12,391 | €116,373 | +€103,982 | +839.2% |
| Operating profit (loss) | 9901 | -€88,643 | €17,654 | +€106,297 | |
| Financial income | 75/76B | €870 | €2,810 | +€1,940 | +222.9% |
| Recurring financial income | 75 | €870 | €2,810 | +€1,940 | +222.9% |
| Non-recurring financial income | 76B | €870 | - | -€870 | |
| Financial charges | 65/66B | €23,193 | €2,150 | -€21,043 | -90.7% |
| Recurring financial charges | 65 | €2,224 | €2,150 | -€74 | -3.3% |
| Non-recurring financial charges | 66B | €20,969 | - | -€20,969 | |
| Profit (loss) for the period before taxes | 9903 | -€110,966 | €18,314 | +€129,280 | |
| Income taxes | 67/77 | €150 | -€9 | -€159 | |
| Profit (loss) for the period | 9904 | -€111,115 | €18,324 | +€129,439 | |
| Profit (loss) for the period to be appropriated | 9905 | -€111,115 | €18,324 | +€129,439 |
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 8 October 2026 via checked.be.