JAOE: 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.
JAOE
Largest movements
- Current investments -€75,000
no longer reported in 2025 (was €75,000)
- Cash -€15,654
down €15,654 (-60.5%), from €25,865 to €10,211
mainly Contributions, distributions and other (-€247,574) and Investment in fixed assets (net) (-€14,225)
- Tangible fixed assets +€10,414
up €10,414 (+271.3%), from €3,839 to €14,253
of which Furniture and vehicles: +€10,544
- Profit (loss) carried forward -€191,690
no longer reported in 2025 (was €191,690)
- Other debts +€111,898
up €111,898 (+3338.3%), from €3,352 to €115,250
- Tax, wage and social debts +€2,383
new in 2025: €2,383
- Financial income -€187,449
down €187,449 (-99.0%), from €189,295 to €1,846
- Gross operating margin +€63,202
up €63,202 (+609.2%), from €10,375 to €73,577
- Taxes +€11,878
up €11,878 (+465.9%), from €2,550 to €14,427
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 | €214,643 | €136,603 | -€78,040 | -36.4% |
| Fixed assets | 21/28 | €111,131 | €121,545 | +€10,414 | +9.4% |
| Tangible fixed assets | 22/27 | €3,839 | €14,253 | +€10,414 | +271.3% |
| Plant, machinery and equipment | 23 | €213 | €83 | -€130 | -61.0% |
| Furniture and vehicles | 24 | €3,626 | €14,170 | +€10,544 | +290.8% |
| Financial fixed assets | 28 | €107,292 | €107,292 | = | 0.0% |
| Current assets | 29/58 | €103,512 | €15,058 | -€88,454 | -85.5% |
| Amounts receivable within one year | 40/41 | €2,573 | €4,476 | +€1,903 | +74.0% |
| Other amounts receivable | 41 | €2,573 | €4,476 | +€1,903 | +74.0% |
| Current investments | 50/53 | €75,000 | - | -€75,000 | |
| Cash at bank and in hand | 54/58 | €25,865 | €10,211 | -€15,654 | -60.5% |
| Deferred charges and accrued income | 490/1 | €75 | €372 | +€297 | +398.5% |
| Total equity and liabilities | 10/49 | €214,643 | €136,603 | -€78,040 | -36.4% |
| Equity | 10/15 | €210,290 | €18,600 | -€191,690 | -91.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €191,690 | - | -€191,690 | |
| Amounts payable | 17/49 | €4,353 | €118,003 | +€113,650 | +2610.6% |
| Amounts payable within one year | 42/48 | €4,353 | €118,003 | +€113,650 | +2610.6% |
| Trade debts | 44 | €1,002 | €371 | -€631 | -63.0% |
| Suppliers | 440/4 | €1,002 | €371 | -€631 | -63.0% |
| Taxes, remuneration and social security | 45 | - | €2,383 | +€2,383 | |
| Taxes | 450/3 | - | €2,383 | +€2,383 | |
| Other amounts payable | 47/48 | €3,352 | €115,250 | +€111,898 | +3338.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,038 | €3,811 | -€227 | -5.6% |
| Other operating charges | 640/8 | €1,167 | €816 | -€351 | -30.1% |
| Gross operating margin | 9900 | €10,375 | €73,577 | +€63,202 | +609.2% |
| Operating profit (loss) | 9901 | €5,169 | €68,950 | +€63,780 | +1233.8% |
| Financial income | 75/76B | €189,295 | €1,846 | -€187,449 | -99.0% |
| Recurring financial income | 75 | €189,295 | €1,846 | -€187,449 | -99.0% |
| Financial charges | 65/66B | €224 | €485 | +€261 | +116.1% |
| Recurring financial charges | 65 | €224 | €485 | +€261 | +116.1% |
| Profit (loss) for the period before taxes | 9903 | €194,239 | €70,311 | -€123,929 | -63.8% |
| Income taxes | 67/77 | €2,550 | €14,427 | +€11,878 | +465.9% |
| Profit (loss) for the period | 9904 | €191,690 | €55,884 | -€135,806 | -70.8% |
| Profit (loss) for the period to be appropriated | 9905 | €191,690 | €55,884 | -€135,806 | -70.8% |
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 11 October 2026 via checked.be.