JANOUB PROJECT: 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.
JANOUB PROJECT
Largest movements
- Receivables within one year +€20,101
up €20,101 (+75.7%), from €26,556 to €46,657
of which Trade receivables: +€19,596
- Tangible fixed assets -€4,797
down €4,797 (-41.7%), from €11,493 to €6,696
of which Furniture and vehicles: -€4,718
- Cash -€2,577
down €2,577 (-57.9%), from €4,453 to €1,876
mainly Receivables within one year (-€20,101) and Trade debts (-€6,862)
- Formation expenses -€629
down €629 (-30.1%), from €2,089 to €1,460
- Other debts +€12,525
up €12,525 (+29.7%), from €42,154 to €54,678
- Profit (loss) carried forward +€7,836
up €7,836 (+4.8%), from -€161,772 to -€153,936
- Trade debts -€6,862
down €6,862 (-87.6%), from €7,830 to €968
- Tax, wage and social debts -€1,436
down €1,436 (-100%), from €1,436 to €0
- Gross operating margin +€25,439
up €25,439, from -€11,549 to €13,891
- Financial charges -€540
down €540 (-77.8%), from €693 to €154
- Financial income +€157
up €157 (+872%), from €18 to €175
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 | €45,047 | €57,121 | +€12,074 | +26.8% |
| Formation expenses | 20 | €2,089 | €1,460 | -€629 | -30.1% |
| Fixed assets | 21/28 | €11,493 | €6,696 | -€4,797 | -41.7% |
| Tangible fixed assets | 22/27 | €11,493 | €6,696 | -€4,797 | -41.7% |
| Land and buildings | 22 | €3,850 | €3,850 | = | 0.0% |
| Furniture and vehicles | 24 | €6,878 | €2,160 | -€4,718 | -68.6% |
| Other tangible fixed assets | 26 | €765 | €686 | -€78 | -10.2% |
| Current assets | 29/58 | €31,465 | €48,965 | +€17,500 | +55.6% |
| Amounts receivable within one year | 40/41 | €26,556 | €46,657 | +€20,101 | +75.7% |
| Trade receivables | 40 | €26,556 | €46,152 | +€19,596 | +73.8% |
| Other amounts receivable | 41 | €0 | €505 | +€505 | |
| Cash at bank and in hand | 54/58 | €4,453 | €1,876 | -€2,577 | -57.9% |
| Deferred charges and accrued income | 490/1 | €457 | €432 | -€24 | -5.4% |
| Total equity and liabilities | 10/49 | €45,047 | €57,121 | +€12,074 | +26.8% |
| Equity | 10/15 | -€6,772 | €1,064 | +€7,836 | |
| Contributions | 10/11 | €155,000 | €155,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€161,772 | -€153,936 | +€7,836 | +4.8% |
| Amounts payable | 17/49 | €51,819 | €56,057 | +€4,238 | +8.2% |
| Amounts payable within one year | 42/48 | €51,421 | €55,646 | +€4,226 | +8.2% |
| Trade debts | 44 | €7,830 | €968 | -€6,862 | -87.6% |
| Suppliers | 440/4 | €7,830 | €968 | -€6,862 | -87.6% |
| Taxes, remuneration and social security | 45 | €1,436 | €0 | -€1,436 | -100% |
| Taxes | 450/3 | €1,436 | €0 | -€1,436 | -100% |
| Other amounts payable | 47/48 | €42,154 | €54,678 | +€12,525 | +29.7% |
| Accrued charges and deferred income | 492/3 | €398 | €411 | +€13 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,366 | €5,426 | +€60 | +1.1% |
| Other operating charges | 640/8 | €520 | €537 | +€17 | +3.2% |
| Gross operating margin | 9900 | -€11,549 | €13,891 | +€25,439 | |
| Operating profit (loss) | 9901 | -€17,435 | €7,928 | +€25,363 | |
| Financial income | 75/76B | €18 | €175 | +€157 | +872% |
| Recurring financial income | 75 | €18 | €175 | +€157 | +872% |
| Financial charges | 65/66B | €693 | €154 | -€540 | -77.8% |
| Recurring financial charges | 65 | €693 | €154 | -€540 | -77.8% |
| Profit (loss) for the period before taxes | 9903 | -€18,110 | €7,949 | +€26,059 | |
| Income taxes | 67/77 | €5 | €114 | +€108 | +2,001% |
| Profit (loss) for the period | 9904 | -€18,116 | €7,836 | +€25,951 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,116 | €7,836 | +€25,951 |
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.