2theJo: 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.
2theJo
Largest movements
- Tangible fixed assets +€217,719
up €217,719 (+93.2%), from €233,634 to €451,353
of which Land and buildings: +€178,355
- Cash +€24,466
up €24,466 (+51.4%), from €47,608 to €72,074
mainly Debts after one year (+€204,198) and Other debts (+€134,205)
- Receivables within one year +€13,573
up €13,573 (+1,443%), from €941 to €14,514
of which Other amounts receivable: +€13,573
- Debts after one year +€204,198
up €204,198 (+125%), from €163,223 to €367,421
- Other debts +€134,205
up €134,205 (+2,008%), from €6,684 to €140,888
- Reserves -€82,407
down €82,407 (-100%), from €82,407 to €0
- Profit (loss) carried forward -€12,433
down €12,433 (-100%), from €12,433 to €0
- Current portion of long-term debt +€11,525
up €11,525 (+195%), from €5,906 to €17,431
- Taxes -€10,893
down €10,893 (-75.5%), from €14,437 to €3,544
- Staff costs +€9,331
up €9,331 (+23.8%), from €39,225 to €48,556
- Depreciation +€7,649
up €7,649 (+63.2%), from €12,096 to €19,745
- Gross operating margin -€7,582
down €7,582 (-5.8%), from €131,469 to €123,887
- Financial charges +€3,977
up €3,977 (+43.1%), from €9,217 to €13,194
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 | €298,819 | €561,782 | +€262,963 | +88.0% |
| Fixed assets | 21/28 | €235,845 | €452,956 | +€217,111 | +92.1% |
| Intangible fixed assets | 21 | €2,210 | €1,602 | -€608 | -27.5% |
| Tangible fixed assets | 22/27 | €233,634 | €451,353 | +€217,719 | +93.2% |
| Land and buildings | 22 | €209,808 | €388,163 | +€178,355 | +85.0% |
| Plant, machinery and equipment | 23 | €8,957 | €11,002 | +€2,045 | +22.8% |
| Furniture and vehicles | 24 | €14,868 | €52,188 | +€37,320 | +251% |
| Current assets | 29/58 | €62,974 | €108,826 | +€45,852 | +72.8% |
| Stocks and contracts in progress | 3 | €14,425 | €19,713 | +€5,288 | +36.7% |
| Stocks | 30/36 | €14,425 | €19,713 | +€5,288 | +36.7% |
| Amounts receivable within one year | 40/41 | €941 | €14,514 | +€13,573 | +1,443% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €941 | €14,514 | +€13,573 | +1,443% |
| Cash at bank and in hand | 54/58 | €47,608 | €72,074 | +€24,466 | +51.4% |
| Deferred charges and accrued income | 490/1 | - | €2,525 | +€2,525 | |
| Total equity and liabilities | 10/49 | €298,819 | €561,782 | +€262,963 | +88.0% |
| Equity | 10/15 | €97,339 | €2,500 | -€94,839 | -97.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €82,407 | €0 | -€82,407 | -100% |
| Distributable reserves | 133 | €82,407 | €0 | -€82,407 | -100% |
| Profit (loss) carried forward | 14 | €12,433 | €0 | -€12,433 | -100% |
| Amounts payable | 17/49 | €201,480 | €559,282 | +€357,802 | +178% |
| Amounts payable after more than one year | 17 | €163,223 | €367,421 | +€204,198 | +125% |
| Financial debts | 170/4 | €163,223 | €367,421 | +€204,198 | +125% |
| Amounts payable within one year | 42/48 | €38,257 | €191,309 | +€153,053 | +400% |
| Current portion of amounts payable after more than one year | 42 | €5,906 | €17,431 | +€11,525 | +195% |
| Trade debts | 44 | €1,979 | €950 | -€1,029 | -52.0% |
| Suppliers | 440/4 | €1,979 | €950 | -€1,029 | -52.0% |
| Taxes, remuneration and social security | 45 | €23,688 | €32,041 | +€8,352 | +35.3% |
| Taxes | 450/3 | €17,173 | €23,288 | +€6,116 | +35.6% |
| Remuneration and social security | 454/9 | €6,516 | €8,752 | +€2,237 | +34.3% |
| Other amounts payable | 47/48 | €6,684 | €140,888 | +€134,205 | +2,008% |
| Accrued charges and deferred income | 492/3 | - | €551 | +€551 | |
| Non-recurring operating income | 76A | €2,790 | €0 | -€2,790 | -100% |
| Remuneration, social security and pensions | 62 | €39,225 | €48,556 | +€9,331 | +23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,096 | €19,745 | +€7,649 | +63.2% |
| Other operating charges | 640/8 | €830 | €1,187 | +€357 | +43.1% |
| Non-recurring operating charges | 66A | €1,172 | €0 | -€1,172 | -100% |
| Gross operating margin | 9900 | €131,469 | €123,887 | -€7,582 | -5.8% |
| Operating profit (loss) | 9901 | €78,145 | €54,398 | -€23,747 | -30.4% |
| Financial income | 75/76B | €1,790 | €1,046 | -€745 | -41.6% |
| Recurring financial income | 75 | €1,790 | €1,046 | -€745 | -41.6% |
| Financial charges | 65/66B | €9,217 | €13,194 | +€3,977 | +43.1% |
| Recurring financial charges | 65 | €9,217 | €13,194 | +€3,977 | +43.1% |
| Profit (loss) for the period before taxes | 9903 | €70,718 | €42,249 | -€28,469 | -40.3% |
| Income taxes | 67/77 | €14,437 | €3,544 | -€10,893 | -75.5% |
| Profit (loss) for the period | 9904 | €56,281 | €38,705 | -€17,576 | -31.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,281 | €38,705 | -€17,576 | -31.2% |
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 20 October 2026 via checked.be.