SJANSAAR: 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.
SJANSAAR
Largest movements
- Tangible fixed assets +€900,651
up €900,651 (+750.6%), from €119,998 to €1.0m
of which Other tangible fixed assets: +€824,003
- Current investments -€185,624
down €185,624 (-74.2%), from €250,000 to €64,376
- Cash -€85,133
down €85,133 (-39.2%), from €217,120 to €131,987
mainly Investment in fixed assets (net) (-€1.0m) and Other debts (-€34,923)
- Debts after one year +€612,677
up €612,677 (+1438.5%), from €42,593 to €655,270
- Trade debts +€61,141
up €61,141 (+611.2%), from €10,004 to €71,144
- Other debts -€34,923
down €34,923 (-34.5%), from €101,302 to €66,379
- Current portion of long-term debt +€24,739
up €24,739 (+737.7%), from €3,353 to €28,092
- Reserves -€16,028
down €16,028 (-4.1%), from €390,749 to €374,721
- Gross operating margin -€74,448
down €74,448 (-27.0%), from €275,589 to €201,141
- Depreciation +€69,402
up €69,402 (+164.3%), from €42,250 to €111,652
- Taxes -€31,742
no longer reported in 2025 (was €31,742)
- Staff costs +€22,281
up €22,281 (+30.2%), from €73,714 to €95,995
- Financial charges +€9,928
up €9,928 (+100.0%), from €9,925 to €19,853
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 | €604,722 | €1,243,883 | +€639,161 | +105.7% |
| Fixed assets | 21/28 | €129,998 | €1,025,649 | +€895,651 | +689.0% |
| Intangible fixed assets | 21 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Tangible fixed assets | 22/27 | €119,998 | €1,020,649 | +€900,651 | +750.6% |
| Plant, machinery and equipment | 23 | €63,515 | €113,618 | +€50,103 | +78.9% |
| Furniture and vehicles | 24 | €6,338 | €32,883 | +€26,545 | +418.8% |
| Other tangible fixed assets | 26 | €50,145 | €874,148 | +€824,003 | +1643.2% |
| Current assets | 29/58 | €474,724 | €218,234 | -€256,490 | -54.0% |
| Stocks and contracts in progress | 3 | €1,458 | €8,432 | +€6,974 | +478.3% |
| Stocks | 30/36 | €1,458 | €8,432 | +€6,974 | +478.3% |
| Amounts receivable within one year | 40/41 | €4,407 | €6,092 | +€1,686 | +38.3% |
| Other amounts receivable | 41 | €4,407 | €6,092 | +€1,686 | +38.3% |
| Current investments | 50/53 | €250,000 | €64,376 | -€185,624 | -74.2% |
| Cash at bank and in hand | 54/58 | €217,120 | €131,987 | -€85,133 | -39.2% |
| Deferred charges and accrued income | 490/1 | €1,740 | €7,347 | +€5,608 | +322.4% |
| Total equity and liabilities | 10/49 | €604,722 | €1,243,883 | +€639,161 | +105.7% |
| Equity | 10/15 | €393,749 | €377,721 | -€16,028 | -4.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €390,749 | €374,721 | -€16,028 | -4.1% |
| Distributable reserves | 133 | €390,749 | €374,721 | -€16,028 | -4.1% |
| Amounts payable | 17/49 | €210,973 | €866,162 | +€655,189 | +310.6% |
| Amounts payable after more than one year | 17 | €42,593 | €655,270 | +€612,677 | +1438.5% |
| Financial debts | 170/4 | €42,593 | €655,270 | +€612,677 | +1438.5% |
| Amounts payable within one year | 42/48 | €168,380 | €210,892 | +€42,512 | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €3,353 | €28,092 | +€24,739 | +737.7% |
| Trade debts | 44 | €10,004 | €71,144 | +€61,141 | +611.2% |
| Suppliers | 440/4 | €10,004 | €71,144 | +€61,141 | +611.2% |
| Taxes, remuneration and social security | 45 | €53,722 | €45,277 | -€8,445 | -15.7% |
| Taxes | 450/3 | €50,104 | €28,456 | -€21,648 | -43.2% |
| Remuneration and social security | 454/9 | €3,618 | €16,821 | +€13,203 | +365.0% |
| Other amounts payable | 47/48 | €101,302 | €66,379 | -€34,923 | -34.5% |
| Remuneration, social security and pensions | 62 | €73,714 | €95,995 | +€22,281 | +30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,250 | €111,652 | +€69,402 | +164.3% |
| Other operating charges | 640/8 | €966 | €1,455 | +€489 | +50.6% |
| Gross operating margin | 9900 | €275,589 | €201,141 | -€74,448 | -27.0% |
| Operating profit (loss) | 9901 | €158,659 | -€7,961 | -€166,620 | |
| Financial income | 75/76B | €11,572 | €11,785 | +€213 | +1.8% |
| Recurring financial income | 75 | €11,572 | €11,785 | +€213 | +1.8% |
| Financial charges | 65/66B | €9,925 | €19,853 | +€9,928 | +100.0% |
| Recurring financial charges | 65 | €9,925 | €19,853 | +€9,928 | +100.0% |
| Profit (loss) for the period before taxes | 9903 | €160,306 | -€16,028 | -€176,335 | |
| Income taxes | 67/77 | €31,742 | - | -€31,742 | |
| Profit (loss) for the period | 9904 | €128,564 | -€16,028 | -€144,593 | |
| Profit (loss) for the period to be appropriated | 9905 | €128,564 | -€16,028 | -€144,593 |
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 5 October 2026 via checked.be.