J.N.O.: 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.
J.N.O.
Largest movements
- Receivables within one year +€9,691
up €9,691 (+371%), from €2,613 to €12,304
- Cash +€4,575
up €4,575 (+9.2%), from €49,547 to €54,122
mainly Net result for the year (+€13,615) and Deferred charges and accrued income (+€1,698)
- Reserves +€13,615
up €13,615 (+5.4%), from €254,438 to €268,053
- Gross operating margin -€52,903
down €52,903 (-68.1%), from €77,693 to €24,790
- Taxes -€12,284
down €12,284 (-60.4%), from €20,327 to €8,043
- Financial charges +€957
up €957 (+1,302%), from €74 to €1,031
- Depreciation +€864
up €864 (+512%), from €169 to €1,032
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 | €256,030 | €269,743 | +€13,714 | +5.4% |
| Fixed assets | 21/28 | €1,896 | €3,041 | +€1,145 | +60.4% |
| Tangible fixed assets | 22/27 | €1,896 | €3,041 | +€1,145 | +60.4% |
| Plant, machinery and equipment | 23 | €1,896 | €3,041 | +€1,145 | +60.4% |
| Current assets | 29/58 | €254,133 | €266,702 | +€12,569 | +4.9% |
| Amounts receivable within one year | 40/41 | €2,613 | €12,304 | +€9,691 | +371% |
| Other amounts receivable | 41 | €2,613 | €12,304 | +€9,691 | +371% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €49,547 | €54,122 | +€4,575 | +9.2% |
| Deferred charges and accrued income | 490/1 | €1,973 | €276 | -€1,698 | -86.0% |
| Total equity and liabilities | 10/49 | €256,030 | €269,743 | +€13,714 | +5.4% |
| Equity | 10/15 | €255,438 | €269,053 | +€13,615 | +5.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €254,438 | €268,053 | +€13,615 | +5.4% |
| Distributable reserves | 133 | €254,438 | €268,053 | +€13,615 | +5.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €592 | €690 | +€99 | +16.7% |
| Amounts payable within one year | 42/48 | €592 | €690 | +€99 | +16.7% |
| Trade debts | 44 | €265 | €690 | +€425 | +161% |
| Suppliers | 440/4 | €265 | €690 | +€425 | +161% |
| Taxes, remuneration and social security | 45 | €327 | €0 | -€327 | -100% |
| Taxes | 450/3 | €327 | €0 | -€327 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169 | €1,032 | +€864 | +512% |
| Other operating charges | 640/8 | €1,246 | €1,069 | -€177 | -14.2% |
| Gross operating margin | 9900 | €77,693 | €24,790 | -€52,903 | -68.1% |
| Operating profit (loss) | 9901 | €76,278 | €22,688 | -€53,590 | -70.3% |
| Financial charges | 65/66B | €74 | €1,031 | +€957 | +1,302% |
| Recurring financial charges | 65 | €74 | €1,031 | +€957 | +1,302% |
| Profit (loss) for the period before taxes | 9903 | €76,205 | €21,658 | -€54,547 | -71.6% |
| Income taxes | 67/77 | €20,327 | €8,043 | -€12,284 | -60.4% |
| Profit (loss) for the period | 9904 | €55,878 | €13,615 | -€42,263 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,878 | €13,615 | -€42,263 | -75.6% |
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 19 October 2026 via checked.be.