SJ MANAGEMENT: 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.
SJ MANAGEMENT
Largest movements
- Cash -€285,168
down €285,168 (-89.7%), from €317,936 to €32,767
mainly Contributions, distributions and other (-€336,000) and Trade debts (-€1,315)
- Receivables within one year -€47,382
down €47,382 (-97.6%), from €48,532 to €1,150
of which Other amounts receivable: -€46,172
- Contributions -€336,000
down €336,000 (-72.1%), from €466,000 to €130,000
- Financial charges -€336,560
down €336,560 (-100.0%), from €336,638 to €78
of which Non-recurring financial charges: -€336,563
- Financial income -€199,442
down €199,442 (-98.9%), from €201,577 to €2,135
- Gross operating margin +€582
up €582 (+59.4%), from €980 to €1,562
- Taxes -€263
down €263 (-26.3%), from €1,000 to €737
- Other operating charges -€192
down €192 (-32.4%), from €591 to €400
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 | €367,515 | €33,917 | -€333,597 | -90.8% |
| Current assets | 29/58 | €367,515 | €33,917 | -€333,597 | -90.8% |
| Stocks and contracts in progress | 3 | €1,047 | - | -€1,047 | |
| Stocks | 30/36 | €1,047 | - | -€1,047 | |
| Amounts receivable within one year | 40/41 | €48,532 | €1,150 | -€47,382 | -97.6% |
| Trade receivables | 40 | €1,210 | - | -€1,210 | |
| Other amounts receivable | 41 | €47,322 | €1,150 | -€46,172 | -97.6% |
| Cash at bank and in hand | 54/58 | €317,936 | €32,767 | -€285,168 | -89.7% |
| Total equity and liabilities | 10/49 | €367,515 | €33,917 | -€333,597 | -90.8% |
| Equity | 10/15 | €365,700 | €32,182 | -€333,518 | -91.2% |
| Contributions | 10/11 | €466,000 | €130,000 | -€336,000 | -72.1% |
| Reserves | 13 | €8,750 | €8,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €600 | - | -€600 | |
| Reserves not available under the articles | 1311 | €600 | - | -€600 | |
| Distributable reserves | 133 | €8,150 | €8,750 | +€600 | +7.4% |
| Profit (loss) carried forward | 14 | -€109,050 | -€106,568 | +€2,482 | +2.3% |
| Amounts payable | 17/49 | €1,815 | €1,736 | -€79 | -4.4% |
| Amounts payable within one year | 42/48 | €1,815 | €1,736 | -€79 | -4.4% |
| Trade debts | 44 | €1,815 | €500 | -€1,315 | -72.5% |
| Suppliers | 440/4 | €1,815 | €500 | -€1,315 | -72.5% |
| Other amounts payable | 47/48 | - | €1,236 | +€1,236 | |
| Other operating charges | 640/8 | €591 | €400 | -€192 | -32.4% |
| Gross operating margin | 9900 | €980 | €1,562 | +€582 | +59.4% |
| Operating profit (loss) | 9901 | €389 | €1,163 | +€774 | +199% |
| Financial income | 75/76B | €201,577 | €2,135 | -€199,442 | -98.9% |
| Recurring financial income | 75 | €201,577 | €2,135 | -€199,442 | -98.9% |
| Financial charges | 65/66B | €336,638 | €78 | -€336,560 | -100.0% |
| Recurring financial charges | 65 | €75 | €78 | +€3 | +4.5% |
| Non-recurring financial charges | 66B | €336,563 | - | -€336,563 | |
| Profit (loss) for the period before taxes | 9903 | -€134,673 | €3,219 | +€137,892 | |
| Income taxes | 67/77 | €1,000 | €737 | -€263 | -26.3% |
| Profit (loss) for the period | 9904 | -€135,673 | €2,482 | +€138,155 | |
| Profit (loss) for the period to be appropriated | 9905 | -€135,673 | €2,482 | +€138,155 |
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 14 October 2026 via checked.be.