SJIC: 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.
SJIC
Largest movements
- Tangible fixed assets -€174,720
down €174,720 (-3.3%), from €5.3m to €5.1m
- Cash +€62,201
up €62,201 (+333%), from €18,662 to €80,863
mainly Net result for the year (+€248,930) and Depreciation (+€174,720)
- Debts after one year -€407,050
down €407,050 (-8.2%), from €5.0m to €4.6m
- Reserves +€222,900
up €222,900 (+26.9%), from €827,100 to €1.1m
of which Distributable reserves: +€225,000
- Gross operating margin +€244,800
up €244,800 (+56.7%), from €431,926 to €676,726
- Financial charges +€47,956
up €47,956 (+64.0%), from €74,913 to €122,869
- Taxes +€43,584
up €43,584 (+105%), from €41,508 to €85,092
- Other operating charges +€17,336
up €17,336 (+62.4%), from €27,778 to €45,114
- Depreciation +€9,118
up €9,118 (+5.5%), from €165,602 to €174,720
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 | €6,068,110 | €5,909,544 | -€158,566 | -2.6% |
| Fixed assets | 21/28 | €5,307,102 | €5,132,381 | -€174,720 | -3.3% |
| Tangible fixed assets | 22/27 | €5,307,102 | €5,132,381 | -€174,720 | -3.3% |
| Land and buildings | 22 | €5,307,102 | €5,132,381 | -€174,720 | -3.3% |
| Current assets | 29/58 | €761,008 | €777,162 | +€16,154 | +2.1% |
| Stocks and contracts in progress | 3 | €657,500 | €607,500 | -€50,000 | -7.6% |
| Stocks | 30/36 | €657,500 | €607,500 | -€50,000 | -7.6% |
| Amounts receivable within one year | 40/41 | €84,846 | €88,799 | +€3,953 | +4.7% |
| Trade receivables | 40 | €53,222 | €57,175 | +€3,953 | +7.4% |
| Other amounts receivable | 41 | €31,624 | €31,624 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €18,662 | €80,863 | +€62,201 | +333% |
| Total equity and liabilities | 10/49 | €6,068,110 | €5,909,544 | -€158,566 | -2.6% |
| Equity | 10/15 | €849,054 | €1,097,984 | +€248,930 | +29.3% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €827,100 | €1,050,000 | +€222,900 | +26.9% |
| Non-distributable reserves | 130/1 | €2,100 | €0 | -€2,100 | -100% |
| Reserves not available under the articles | 1311 | €2,100 | €0 | -€2,100 | -100% |
| Distributable reserves | 133 | €825,000 | €1,050,000 | +€225,000 | +27.3% |
| Profit (loss) carried forward | 14 | €954 | €26,984 | +€26,030 | +2,727% |
| Amounts payable | 17/49 | €5,219,055 | €4,811,560 | -€407,496 | -7.8% |
| Amounts payable after more than one year | 17 | €4,971,424 | €4,564,373 | -€407,050 | -8.2% |
| Financial debts | 170/4 | €4,971,424 | €4,564,373 | -€407,050 | -8.2% |
| Amounts payable within one year | 42/48 | €247,632 | €247,186 | -€445 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €208,043 | €211,015 | +€2,972 | +1.4% |
| Trade debts | 44 | €38,681 | €1,080 | -€37,602 | -97.2% |
| Suppliers | 440/4 | €38,681 | €1,080 | -€37,602 | -97.2% |
| Taxes, remuneration and social security | 45 | €908 | €35,092 | +€34,184 | +3,765% |
| Taxes | 450/3 | €908 | €35,092 | +€34,184 | +3,765% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,602 | €174,720 | +€9,118 | +5.5% |
| Other operating charges | 640/8 | €27,778 | €45,114 | +€17,336 | +62.4% |
| Gross operating margin | 9900 | €431,926 | €676,726 | +€244,800 | +56.7% |
| Operating profit (loss) | 9901 | €238,545 | €456,891 | +€218,346 | +91.5% |
| Financial charges | 65/66B | €74,913 | €122,869 | +€47,956 | +64.0% |
| Recurring financial charges | 65 | €74,913 | €122,869 | +€47,956 | +64.0% |
| Profit (loss) for the period before taxes | 9903 | €163,632 | €334,022 | +€170,390 | +104% |
| Income taxes | 67/77 | €41,508 | €85,092 | +€43,584 | +105% |
| Profit (loss) for the period | 9904 | €122,124 | €248,930 | +€126,806 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €122,124 | €248,930 | +€126,806 | +104% |
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.