SJS Stables: 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.
SJS Stables
Largest movements
- Stocks and contracts +€122,330
up €122,330 (+57.8%), from €211,750 to €334,080
- Tangible fixed assets +€104,976
up €104,976 (+176.6%), from €59,458 to €164,433
of which Land and buildings: +€100,923
- Receivables within one year -€79,793
down €79,793 (-99.1%), from €80,501 to €708
of which Trade receivables: -€79,766
- Other debts +€197,055
up €197,055 (+80.4%), from €245,134 to €442,190
- Trade debts -€19,375
down €19,375 (-32.4%), from €59,756 to €40,382
- Tax, wage and social debts -€16,230
down €16,230 (-65.8%), from €24,670 to €8,441
- Reserves -€12,421
down €12,421 (-41.8%), from €29,739 to €17,318
- Gross operating margin -€17,227
down €17,227 (-87.2%), from €19,747 to €2,520
- Depreciation +€6,426
up €6,426 (+84.4%), from €7,613 to €14,039
- Taxes -€1,472
down €1,472 (-100.0%), from €1,472 to €0
- Financial charges +€228
up €228 (+173.5%), from €131 to €359
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 | €361,300 | €510,330 | +€149,030 | +41.2% |
| Fixed assets | 21/28 | €59,458 | €166,933 | +€107,476 | +180.8% |
| Tangible fixed assets | 22/27 | €59,458 | €164,433 | +€104,976 | +176.6% |
| Land and buildings | 22 | €46,857 | €147,779 | +€100,923 | +215.4% |
| Plant, machinery and equipment | 23 | €12,601 | €16,654 | +€4,053 | +32.2% |
| Financial fixed assets | 28 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €301,842 | €343,397 | +€41,555 | +13.8% |
| Stocks and contracts in progress | 3 | €211,750 | €334,080 | +€122,330 | +57.8% |
| Stocks | 30/36 | €211,750 | €334,080 | +€122,330 | +57.8% |
| Amounts receivable within one year | 40/41 | €80,501 | €708 | -€79,793 | -99.1% |
| Trade receivables | 40 | €80,474 | €708 | -€79,766 | -99.1% |
| Other amounts receivable | 41 | €27 | €0 | -€27 | -100.0% |
| Cash at bank and in hand | 54/58 | €9,592 | €8,609 | -€982 | -10.2% |
| Total equity and liabilities | 10/49 | €361,300 | €510,330 | +€149,030 | +41.2% |
| Equity | 10/15 | €31,739 | €19,318 | -€12,421 | -39.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €29,739 | €17,318 | -€12,421 | -41.8% |
| Distributable reserves | 133 | €29,739 | €17,318 | -€12,421 | -41.8% |
| Amounts payable | 17/49 | €329,561 | €491,012 | +€161,451 | +49.0% |
| Amounts payable within one year | 42/48 | €329,561 | €491,012 | +€161,451 | +49.0% |
| Trade debts | 44 | €59,756 | €40,382 | -€19,375 | -32.4% |
| Suppliers | 440/4 | €59,756 | €40,382 | -€19,375 | -32.4% |
| Taxes, remuneration and social security | 45 | €24,670 | €8,441 | -€16,230 | -65.8% |
| Taxes | 450/3 | €24,670 | €8,441 | -€16,230 | -65.8% |
| Other amounts payable | 47/48 | €245,134 | €442,190 | +€197,055 | +80.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,613 | €14,039 | +€6,426 | +84.4% |
| Other operating charges | 640/8 | €546 | €612 | +€67 | +12.2% |
| Non-recurring operating charges | 66A | - | €50 | +€50 | |
| Gross operating margin | 9900 | €19,747 | €2,520 | -€17,227 | -87.2% |
| Operating profit (loss) | 9901 | €11,589 | -€12,182 | -€23,770 | |
| Financial income | 75/76B | - | €119 | +€119 | |
| Recurring financial income | 75 | - | €119 | +€119 | |
| Financial charges | 65/66B | €131 | €359 | +€228 | +173.5% |
| Recurring financial charges | 65 | €131 | €359 | +€228 | +173.5% |
| Profit (loss) for the period before taxes | 9903 | €11,458 | -€12,421 | -€23,879 | |
| Income taxes | 67/77 | €1,472 | €0 | -€1,472 | -100.0% |
| Profit (loss) for the period | 9904 | €9,985 | -€12,421 | -€22,406 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,985 | -€12,421 | -€22,406 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.