JO FLEX: 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 FLEX
Largest movements
- Cash +€67,864
up €67,864 (+24.8%), from €273,327 to €341,191
mainly Net result for the year (+€105,820) and Depreciation (+€80,243)
- Receivables within one year -€53,825
down €53,825 (-33.1%), from €162,647 to €108,822
of which Trade receivables: -€43,126
- Tangible fixed assets +€19,126
up €19,126 (+4.0%), from €473,531 to €492,657
of which Plant, machinery and equipment: +€18,128
- Reserves +€89,020
up €89,020 (+18.6%), from €478,072 to €567,091
of which Distributable reserves: +€89,020
- Current portion of long-term debt -€67,669
down €67,669 (-50.9%), from €133,061 to €65,393
- Debts after one year +€57,254
up €57,254 (+26.0%), from €220,305 to €277,559
- Tax, wage and social debts -€30,304
down €30,304 (-28.2%), from €107,553 to €77,249
of which Remuneration and social security: -€40,312
- Accrued charges and deferred income -€20,393
no longer reported in 2025 (was €20,393)
- Staff costs +€22,798
up €22,798 (+24.1%), from €94,740 to €117,537
- Gross operating margin +€17,885
up €17,885 (+5.2%), from €343,391 to €361,275
- Depreciation +€16,325
up €16,325 (+25.5%), from €63,918 to €80,243
- Taxes +€10,506
up €10,506 (+33.8%), from €31,105 to €41,611
- Financial charges +€5,833
up €5,833 (+100.6%), from €5,796 to €11,629
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 | €977,185 | €1,007,589 | +€30,404 | +3.1% |
| Fixed assets | 21/28 | €473,531 | €492,657 | +€19,126 | +4.0% |
| Tangible fixed assets | 22/27 | €473,531 | €492,657 | +€19,126 | +4.0% |
| Land and buildings | 22 | €348,411 | €338,705 | -€9,705 | -2.8% |
| Plant, machinery and equipment | 23 | - | €18,128 | +€18,128 | |
| Furniture and vehicles | 24 | €125,120 | €135,824 | +€10,703 | +8.6% |
| Current assets | 29/58 | €503,653 | €514,932 | +€11,279 | +2.2% |
| Stocks and contracts in progress | 3 | €60,126 | €60,126 | = | 0.0% |
| Stocks | 30/36 | €60,126 | €60,126 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €162,647 | €108,822 | -€53,825 | -33.1% |
| Trade receivables | 40 | €148,561 | €105,436 | -€43,126 | -29.0% |
| Other amounts receivable | 41 | €14,085 | €3,386 | -€10,699 | -76.0% |
| Cash at bank and in hand | 54/58 | €273,327 | €341,191 | +€67,864 | +24.8% |
| Deferred charges and accrued income | 490/1 | €7,554 | €4,793 | -€2,760 | -36.5% |
| Total equity and liabilities | 10/49 | €977,185 | €1,007,589 | +€30,404 | +3.1% |
| Equity | 10/15 | €478,072 | €567,091 | +€89,020 | +18.6% |
| Reserves | 13 | €478,072 | €567,091 | +€89,020 | +18.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €476,212 | €565,231 | +€89,020 | +18.7% |
| Amounts payable | 17/49 | €499,113 | €440,498 | -€58,615 | -11.7% |
| Amounts payable after more than one year | 17 | €220,305 | €277,559 | +€57,254 | +26.0% |
| Financial debts | 170/4 | €220,305 | €277,559 | +€57,254 | +26.0% |
| Amounts payable within one year | 42/48 | €258,415 | €162,939 | -€95,476 | -36.9% |
| Current portion of amounts payable after more than one year | 42 | €133,061 | €65,393 | -€67,669 | -50.9% |
| Trade debts | 44 | €15,435 | €10,579 | -€4,856 | -31.5% |
| Suppliers | 440/4 | €15,435 | €10,579 | -€4,856 | -31.5% |
| Taxes, remuneration and social security | 45 | €107,553 | €77,249 | -€30,304 | -28.2% |
| Taxes | 450/3 | €45,160 | €55,168 | +€10,008 | +22.2% |
| Remuneration and social security | 454/9 | €62,393 | €22,081 | -€40,312 | -64.6% |
| Other amounts payable | 47/48 | €2,365 | €9,718 | +€7,353 | +310.8% |
| Accrued charges and deferred income | 492/3 | €20,393 | - | -€20,393 | |
| Remuneration, social security and pensions | 62 | €94,740 | €117,537 | +€22,798 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,918 | €80,243 | +€16,325 | +25.5% |
| Other operating charges | 640/8 | €679 | €825 | +€146 | +21.4% |
| Non-recurring operating charges | 66A | - | €3,610 | +€3,610 | |
| Gross operating margin | 9900 | €343,391 | €361,275 | +€17,885 | +5.2% |
| Operating profit (loss) | 9901 | €184,054 | €159,060 | -€24,994 | -13.6% |
| Financial charges | 65/66B | €5,796 | €11,629 | +€5,833 | +100.6% |
| Recurring financial charges | 65 | €5,796 | €11,629 | +€5,833 | +100.6% |
| Profit (loss) for the period before taxes | 9903 | €178,258 | €147,431 | -€30,827 | -17.3% |
| Income taxes | 67/77 | €31,105 | €41,611 | +€10,506 | +33.8% |
| Profit (loss) for the period | 9904 | €147,153 | €105,820 | -€41,333 | -28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €147,153 | €105,820 | -€41,333 | -28.1% |
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.