SJER: 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.
SJER
Largest movements
- Cash +€81,678
up €81,678 (+76.2%), from €107,160 to €188,838
mainly Net result for the year (+€73,850) and Tax, wage and social debts (+€21,338)
- Receivables within one year +€12,609
up €12,609 (+46.1%), from €27,368 to €39,976
- Reserves +€69,950
up €69,950 (+65.5%), from €106,731 to €176,681
- Tax, wage and social debts +€21,338
up €21,338 (+78.0%), from €27,344 to €48,682
- Gross operating margin -€41,092
down €41,092 (-30.7%), from €133,774 to €92,682
- Taxes -€8,220
down €8,220 (-30.8%), from €26,683 to €18,463
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 | €135,575 | €229,600 | +€94,025 | +69.4% |
| Formation expenses | 20 | €1,048 | €786 | -€262 | -25.0% |
| Current assets | 29/58 | €134,527 | €228,814 | +€94,286 | +70.1% |
| Amounts receivable within one year | 40/41 | €27,368 | €39,976 | +€12,609 | +46.1% |
| Trade receivables | 40 | €27,368 | €39,976 | +€12,609 | +46.1% |
| Cash at bank and in hand | 54/58 | €107,160 | €188,838 | +€81,678 | +76.2% |
| Total equity and liabilities | 10/49 | €135,575 | €229,600 | +€94,025 | +69.4% |
| Equity | 10/15 | €108,231 | €178,181 | +€69,950 | +64.6% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €106,731 | €176,681 | +€69,950 | +65.5% |
| Distributable reserves | 133 | €106,731 | €176,681 | +€69,950 | +65.5% |
| Amounts payable | 17/49 | €27,344 | €51,418 | +€24,074 | +88.0% |
| Amounts payable within one year | 42/48 | €27,344 | €51,418 | +€24,074 | +88.0% |
| Trade debts | 44 | - | €786 | +€786 | |
| Suppliers | 440/4 | - | €786 | +€786 | |
| Taxes, remuneration and social security | 45 | €27,344 | €48,682 | +€21,338 | +78.0% |
| Taxes | 450/3 | €27,344 | €48,682 | +€21,338 | +78.0% |
| Other amounts payable | 47/48 | - | €1,950 | +€1,950 | |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Non-recurring operating charges | 66A | €262 | €262 | = | 0.0% |
| Gross operating margin | 9900 | €133,774 | €92,682 | -€41,092 | -30.7% |
| Operating profit (loss) | 9901 | €133,450 | €92,358 | -€41,092 | -30.8% |
| Financial charges | 65/66B | €36 | €45 | +€9 | +24.6% |
| Recurring financial charges | 65 | €36 | €45 | +€9 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | €133,414 | €92,313 | -€41,101 | -30.8% |
| Income taxes | 67/77 | €26,683 | €18,463 | -€8,220 | -30.8% |
| Profit (loss) for the period | 9904 | €106,731 | €73,850 | -€32,881 | -30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €106,731 | €73,850 | -€32,881 | -30.8% |
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 13 October 2026 via checked.be.