Jo-a: 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.
Jo-a
Largest movements
- Cash -€43,460
down €43,460 (-51.2%), from €84,879 to €41,418
mainly Net result for the year (-€137,831) and Investment in fixed assets (net) (-€20,715)
- Stocks and contracts -€26,719
down €26,719 (-25.6%), from €104,270 to €77,551
- Receivables within one year -€17,180
down €17,180 (-25.4%), from €67,560 to €50,380
of which Other amounts receivable: -€23,820
- Tangible fixed assets -€14,944
down €14,944 (-17.4%), from €85,700 to €70,756
of which Leasing and similar rights: -€9,828
- Intangible fixed assets -€8,930
down €8,930 (-21.9%), from €40,709 to €31,779
- Profit (loss) carried forward -€137,831
down €137,831 (-467.7%), from -€29,468 to -€167,299
- Debts after one year +€31,767
up €31,767 (+31.0%), from €102,498 to €134,265
- Trade debts -€6,766
down €6,766 (-14.0%), from €48,218 to €41,452
- Other debts -€5,067
down €5,067 (-12.1%), from €41,788 to €36,721
- Short-term financial debts +€4,500
up €4,500 (+111.4%), from €4,038 to €8,538
- Gross operating margin -€204,140
down €204,140 (-42.5%), from €480,779 to €276,639
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 | €399,185 | €283,694 | -€115,491 | -28.9% |
| Fixed assets | 21/28 | €126,667 | €102,535 | -€24,132 | -19.1% |
| Intangible fixed assets | 21 | €40,709 | €31,779 | -€8,930 | -21.9% |
| Tangible fixed assets | 22/27 | €85,700 | €70,756 | -€14,944 | -17.4% |
| Plant, machinery and equipment | 23 | €12,003 | €2,812 | -€9,191 | -76.6% |
| Furniture and vehicles | 24 | €7,808 | €4,902 | -€2,907 | -37.2% |
| Leasing and similar rights | 25 | €29,974 | €20,146 | -€9,828 | -32.8% |
| Other tangible fixed assets | 26 | €35,914 | €42,896 | +€6,982 | +19.4% |
| Financial fixed assets | 28 | €258 | - | -€258 | |
| Current assets | 29/58 | €272,517 | €181,158 | -€91,359 | -33.5% |
| Stocks and contracts in progress | 3 | €104,270 | €77,551 | -€26,719 | -25.6% |
| Stocks | 30/36 | €104,270 | €77,551 | -€26,719 | -25.6% |
| Amounts receivable within one year | 40/41 | €67,560 | €50,380 | -€17,180 | -25.4% |
| Trade receivables | 40 | €32,688 | €39,328 | +€6,640 | +20.3% |
| Other amounts receivable | 41 | €34,872 | €11,052 | -€23,820 | -68.3% |
| Current investments | 50/53 | €3 | €902 | +€900 | +33078.3% |
| Cash at bank and in hand | 54/58 | €84,879 | €41,418 | -€43,460 | -51.2% |
| Deferred charges and accrued income | 490/1 | €15,806 | €10,906 | -€4,899 | -31.0% |
| Total equity and liabilities | 10/49 | €399,185 | €283,694 | -€115,491 | -28.9% |
| Equity | 10/15 | €53,780 | -€85,746 | -€139,526 | |
| Contributions | 10/11 | €71,000 | €71,000 | = | 0.0% |
| Capital | 10 | €71,000 | €71,000 | = | 0.0% |
| Issued capital | 100 | €71,000 | €71,000 | = | 0.0% |
| Reserves | 13 | €7,554 | €7,554 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,100 | €7,100 | = | 0.0% |
| Legal reserve | 130 | €7,100 | €7,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €454 | €454 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,468 | -€167,299 | -€137,831 | -467.7% |
| Investment grants | 15 | €4,695 | €3,000 | -€1,695 | -36.1% |
| Amounts payable | 17/49 | €345,404 | €369,439 | +€24,035 | +7.0% |
| Amounts payable after more than one year | 17 | €102,498 | €134,265 | +€31,767 | +31.0% |
| Financial debts | 170/4 | €102,498 | €134,265 | +€31,767 | +31.0% |
| Amounts payable within one year | 42/48 | €240,034 | €233,379 | -€6,655 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €80,516 | €83,880 | +€3,364 | +4.2% |
| Financial debts | 43 | €4,038 | €8,538 | +€4,500 | +111.4% |
| Credit institutions | 430/8 | €4,038 | €8,538 | +€4,500 | +111.4% |
| Trade debts | 44 | €48,218 | €41,452 | -€6,766 | -14.0% |
| Suppliers | 440/4 | €48,218 | €41,452 | -€6,766 | -14.0% |
| Taxes, remuneration and social security | 45 | €65,474 | €62,789 | -€2,685 | -4.1% |
| Taxes | 450/3 | €8,118 | €9,169 | +€1,050 | +12.9% |
| Remuneration and social security | 454/9 | €57,356 | €53,620 | -€3,735 | -6.5% |
| Other amounts payable | 47/48 | €41,788 | €36,721 | -€5,067 | -12.1% |
| Accrued charges and deferred income | 492/3 | €2,873 | €1,796 | -€1,077 | -37.5% |
| Non-recurring operating income | 76A | €6,759 | €21,408 | +€14,649 | +216.7% |
| Remuneration, social security and pensions | 62 | €352,040 | €352,751 | +€710 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,629 | €44,847 | +€218 | +0.5% |
| Other operating charges | 640/8 | €1,238 | €1,203 | -€35 | -2.8% |
| Non-recurring operating charges | 66A | - | €9,762 | +€9,762 | |
| Gross operating margin | 9900 | €480,779 | €276,639 | -€204,140 | -42.5% |
| Operating profit (loss) | 9901 | €82,872 | -€131,924 | -€214,796 | |
| Financial income | 75/76B | €1,993 | €1,724 | -€269 | -13.5% |
| Recurring financial income | 75 | €1,993 | €1,724 | -€269 | -13.5% |
| Financial charges | 65/66B | €8,440 | €7,631 | -€808 | -9.6% |
| Recurring financial charges | 65 | €8,440 | €7,631 | -€808 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €76,425 | -€137,831 | -€214,256 | |
| Profit (loss) for the period | 9904 | €76,425 | -€137,831 | -€214,256 | |
| Profit (loss) for the period to be appropriated | 9905 | €76,425 | -€137,831 | -€214,256 |
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 10 October 2026 via checked.be.