JANOE: 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.
JANOE
Largest movements
- Receivables within one year +€48,057
up €48,057 (+34.7%), from €138,512 to €186,570
of which Other amounts receivable: +€47,857
- Cash +€45,989
up €45,989 (+26.1%), from €175,918 to €221,907
mainly Net result for the year (+€222,992) and Deferred charges and accrued income (+€2,412)
- Reserves +€118,258
up €118,258 (+22.4%), from €527,630 to €645,888
of which Distributable reserves: +€118,258
- Accrued charges and deferred income -€27,939
no longer reported in 2025 (was €27,939)
- Gross operating margin +€40,742
up €40,742 (+15.1%), from €269,634 to €310,376
- Taxes +€9,101
up €9,101 (+10.3%), from €88,295 to €97,396
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 | €639,425 | €730,448 | +€91,023 | +14.2% |
| Fixed assets | 21/28 | €2,895 | €2,283 | -€611 | -21.1% |
| Tangible fixed assets | 22/27 | €2,895 | €2,283 | -€611 | -21.1% |
| Plant, machinery and equipment | 23 | €892 | €1,319 | +€427 | +47.9% |
| Furniture and vehicles | 24 | €2,003 | €964 | -€1,039 | -51.9% |
| Current assets | 29/58 | €636,530 | €728,164 | +€91,634 | +14.4% |
| Amounts receivable after more than one year | 29 | €285,000 | €285,000 | = | 0.0% |
| Other amounts receivable | 291 | €285,000 | €285,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €138,512 | €186,570 | +€48,057 | +34.7% |
| Trade receivables | 40 | - | €200 | +€200 | |
| Other amounts receivable | 41 | €138,512 | €186,370 | +€47,857 | +34.6% |
| Cash at bank and in hand | 54/58 | €175,918 | €221,907 | +€45,989 | +26.1% |
| Deferred charges and accrued income | 490/1 | €37,100 | €34,688 | -€2,412 | -6.5% |
| Total equity and liabilities | 10/49 | €639,425 | €730,448 | +€91,023 | +14.2% |
| Equity | 10/15 | €533,830 | €652,088 | +€118,258 | +22.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €527,630 | €645,888 | +€118,258 | +22.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,209 | €1,209 | = | 0.0% |
| Distributable reserves | 133 | €524,560 | €642,818 | +€118,258 | +22.5% |
| Amounts payable | 17/49 | €105,595 | €78,360 | -€27,235 | -25.8% |
| Amounts payable within one year | 42/48 | €77,657 | €78,360 | +€703 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €13,731 | €13,690 | -€41 | -0.3% |
| Trade debts | 44 | €1,235 | €2,204 | +€969 | +78.4% |
| Suppliers | 440/4 | €1,235 | €2,204 | +€969 | +78.4% |
| Taxes, remuneration and social security | 45 | €62,690 | €62,465 | -€224 | -0.4% |
| Taxes | 450/3 | €62,690 | €62,465 | -€224 | -0.4% |
| Accrued charges and deferred income | 492/3 | €27,939 | - | -€27,939 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,213 | €1,555 | +€342 | +28.2% |
| Other operating charges | 640/8 | €1,399 | €1,280 | -€118 | -8.5% |
| Gross operating margin | 9900 | €269,634 | €310,376 | +€40,742 | +15.1% |
| Operating profit (loss) | 9901 | €267,022 | €307,540 | +€40,518 | +15.2% |
| Financial income | 75/76B | €14,156 | €14,816 | +€660 | +4.7% |
| Recurring financial income | 75 | €14,156 | €14,816 | +€660 | +4.7% |
| Financial charges | 65/66B | €2,111 | €1,968 | -€143 | -6.8% |
| Recurring financial charges | 65 | €2,111 | €1,968 | -€143 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €279,068 | €320,388 | +€41,321 | +14.8% |
| Income taxes | 67/77 | €88,295 | €97,396 | +€9,101 | +10.3% |
| Profit (loss) for the period | 9904 | €190,772 | €222,992 | +€32,220 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €190,772 | €222,992 | +€32,220 | +16.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.