JO DEPAEPE: 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 DEPAEPE
Largest movements
- Current investments +€30,334
up €30,334 (+25.7%), from €118,047 to €148,381
- Cash +€7,097
up €7,097 (+73.7%), from €9,627 to €16,724
mainly Depreciation (+€26,428) and Other debts (+€22,175)
- Receivables within one year -€5,441
down €5,441 (-4.6%), from €117,030 to €111,588
of which Trade receivables: -€5,441
- Intangible fixed assets -€5,000
down €5,000 (-12.4%), from €40,315 to €35,315
- Other debts +€22,175
up €22,175 (+13.3%), from €166,613 to €188,788
- Trade debts -€13,550
down €13,550 (-17.9%), from €75,816 to €62,266
- Profit (loss) carried forward +€10,782
up €10,782 (+39.8%), from €27,118 to €37,900
- Tax, wage and social debts +€9,973
up €9,973 (+15.7%), from €63,439 to €73,412
of which Remuneration and social security: +€6,918
- Debts after one year -€7,083
down €7,083 (-22.7%), from €31,164 to €24,082
- Financial charges -€13,363
down €13,363 (-66.2%), from €20,193 to €6,830
- Gross operating margin +€10,840
up €10,840 (+3.5%), from €313,875 to €324,715
- Staff costs +€10,030
up €10,030 (+4.0%), from €249,208 to €259,238
- Taxes +€4,801
new in 2025: €4,801
- Other operating charges -€3,621
down €3,621 (-36.1%), from €10,018 to €6,397
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 | €401,934 | €429,136 | +€27,201 | +6.8% |
| Fixed assets | 21/28 | €140,241 | €133,804 | -€6,437 | -4.6% |
| Intangible fixed assets | 21 | €40,315 | €35,315 | -€5,000 | -12.4% |
| Tangible fixed assets | 22/27 | €99,926 | €98,489 | -€1,437 | -1.4% |
| Plant, machinery and equipment | 23 | €52,035 | €64,803 | +€12,769 | +24.5% |
| Furniture and vehicles | 24 | €47,891 | €33,685 | -€14,206 | -29.7% |
| Current assets | 29/58 | €261,694 | €295,332 | +€33,639 | +12.9% |
| Stocks and contracts in progress | 3 | €15,812 | €16,406 | +€594 | +3.8% |
| Stocks | 30/36 | €15,812 | €16,406 | +€594 | +3.8% |
| Amounts receivable within one year | 40/41 | €117,030 | €111,588 | -€5,441 | -4.6% |
| Trade receivables | 40 | €117,030 | €111,588 | -€5,441 | -4.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €118,047 | €148,381 | +€30,334 | +25.7% |
| Cash at bank and in hand | 54/58 | €9,627 | €16,724 | +€7,097 | +73.7% |
| Deferred charges and accrued income | 490/1 | €1,178 | €2,233 | +€1,054 | +89.5% |
| Total equity and liabilities | 10/49 | €401,934 | €429,136 | +€27,201 | +6.8% |
| Equity | 10/15 | €49,018 | €59,800 | +€10,782 | +22.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €15,700 | €15,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,700 | €15,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,118 | €37,900 | +€10,782 | +39.8% |
| Amounts payable | 17/49 | €352,916 | €369,336 | +€16,420 | +4.7% |
| Amounts payable after more than one year | 17 | €31,164 | €24,082 | -€7,083 | -22.7% |
| Financial debts | 170/4 | €31,164 | €24,082 | -€7,083 | -22.7% |
| Amounts payable within one year | 42/48 | €321,416 | €345,048 | +€23,632 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €6,754 | €7,083 | +€329 | +4.9% |
| Financial debts | 43 | €8,794 | €13,500 | +€4,705 | +53.5% |
| Credit institutions | 430/8 | €8,794 | €13,500 | +€4,705 | +53.5% |
| Trade debts | 44 | €75,816 | €62,266 | -€13,550 | -17.9% |
| Suppliers | 440/4 | €75,816 | €62,266 | -€13,550 | -17.9% |
| Taxes, remuneration and social security | 45 | €63,439 | €73,412 | +€9,973 | +15.7% |
| Taxes | 450/3 | €10,729 | €13,784 | +€3,056 | +28.5% |
| Remuneration and social security | 454/9 | €52,710 | €59,628 | +€6,918 | +13.1% |
| Other amounts payable | 47/48 | €166,613 | €188,788 | +€22,175 | +13.3% |
| Accrued charges and deferred income | 492/3 | €336 | €206 | -€130 | -38.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €249,208 | €259,238 | +€10,030 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,452 | €26,428 | +€1,976 | +8.1% |
| Other operating charges | 640/8 | €10,018 | €6,397 | -€3,621 | -36.1% |
| Non-recurring operating charges | 66A | €9,499 | €11,387 | +€1,888 | +19.9% |
| Gross operating margin | 9900 | €313,875 | €324,715 | +€10,840 | +3.5% |
| Operating profit (loss) | 9901 | €20,697 | €21,265 | +€567 | +2.7% |
| Financial income | 75/76B | €2,238 | €1,147 | -€1,090 | -48.7% |
| Recurring financial income | 75 | €2,238 | €1,147 | -€1,090 | -48.7% |
| Financial charges | 65/66B | €20,193 | €6,830 | -€13,363 | -66.2% |
| Recurring financial charges | 65 | €20,193 | €6,830 | -€13,363 | -66.2% |
| Profit (loss) for the period before taxes | 9903 | €2,743 | €15,582 | +€12,840 | +468% |
| Income taxes | 67/77 | - | €4,801 | +€4,801 | |
| Profit (loss) for the period | 9904 | €2,743 | €10,782 | +€8,039 | +293% |
| Profit (loss) for the period to be appropriated | 9905 | €2,743 | €10,782 | +€8,039 | +293% |
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 23 October 2026 via checked.be.