JO & LO: what changed
Two fiscal 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 & LO
Largest movements
- Tangible fixed assets -€11,222
down €11,222 (-62.1%), from €18,076 to €6,854
of which Furniture and vehicles: -€13,718
- Debts after one year -€101,835
down €101,835 (-16.1%), from €630,593 to €528,758
of which Financial debts: -€101,835
- Reserves +€100,029
up €100,029 (+95.2%), from €105,059 to €205,087
- Financial income +€62,692
up €62,692 (+246.2%), from €25,459 to €88,152
- Depreciation -€11,084
down €11,084 (-82.9%), from €13,372 to €2,288
- Gross operating margin -€9,085
down €9,085 (-13.7%), from €66,545 to €57,459
- Taxes +€2,068
up €2,068 (+26.4%), from €7,821 to €9,889
- Financial charges +€1,866
up €1,866 (+7.0%), from €26,661 to €28,527
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 | €869,363 | €860,572 | -€8,791 | -1.0% |
| Fixed assets | 21/28 | €823,076 | €811,854 | -€11,222 | -1.4% |
| Tangible fixed assets | 22/27 | €18,076 | €6,854 | -€11,222 | -62.1% |
| Furniture and vehicles | 24 | €15,716 | €1,998 | -€13,718 | -87.3% |
| Other tangible fixed assets | 26 | €2,360 | €4,855 | +€2,495 | +105.7% |
| Financial fixed assets | 28 | €805,000 | €805,000 | = | 0.0% |
| Current assets | 29/58 | €46,287 | €48,718 | +€2,431 | +5.3% |
| Amounts receivable within one year | 40/41 | €1,943 | €1,576 | -€367 | -18.9% |
| Trade receivables | 40 | €194 | €300 | +€106 | +55.0% |
| Other amounts receivable | 41 | €1,749 | €1,276 | -€474 | -27.1% |
| Cash at bank and in hand | 54/58 | €44,119 | €45,587 | +€1,468 | +3.3% |
| Deferred charges and accrued income | 490/1 | €225 | €1,556 | +€1,331 | +591.3% |
| Total equity and liabilities | 10/49 | €869,363 | €860,572 | -€8,791 | -1.0% |
| Equity | 10/15 | €108,059 | €208,087 | +€100,029 | +92.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €105,059 | €205,087 | +€100,029 | +95.2% |
| Distributable reserves | 133 | €105,059 | €205,087 | +€100,029 | +95.2% |
| Amounts payable | 17/49 | €761,304 | €652,484 | -€108,820 | -14.3% |
| Amounts payable after more than one year | 17 | €630,593 | €528,758 | -€101,835 | -16.1% |
| Financial debts | 170/4 | €467,593 | €365,758 | -€101,835 | -21.8% |
| Other amounts payable | 178/9 | €163,000 | €163,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €118,754 | €113,311 | -€5,443 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €107,204 | €101,835 | -€5,369 | -5.0% |
| Financial debts | 43 | €2,025 | €0 | -€2,025 | -100.0% |
| Credit institutions | 430/8 | €2,025 | €0 | -€2,025 | -100.0% |
| Trade debts | 44 | €756 | €2,385 | +€1,629 | +215.7% |
| Suppliers | 440/4 | €756 | €2,385 | +€1,629 | +215.7% |
| Taxes, remuneration and social security | 45 | €8,770 | €9,092 | +€322 | +3.7% |
| Taxes | 450/3 | €8,770 | €9,092 | +€322 | +3.7% |
| Accrued charges and deferred income | 492/3 | €11,957 | €10,415 | -€1,542 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,372 | €2,288 | -€11,084 | -82.9% |
| Other operating charges | 640/8 | €939 | €821 | -€119 | -12.6% |
| Non-recurring operating charges | 66A | €0 | €4,058 | +€4,058 | |
| Gross operating margin | 9900 | €66,545 | €57,459 | -€9,085 | -13.7% |
| Operating profit (loss) | 9901 | €52,233 | €50,293 | -€1,940 | -3.7% |
| Financial income | 75/76B | €25,459 | €88,152 | +€62,692 | +246.2% |
| Recurring financial income | 75 | €25,459 | €88,152 | +€62,692 | +246.2% |
| Financial charges | 65/66B | €26,661 | €28,527 | +€1,866 | +7.0% |
| Recurring financial charges | 65 | €26,661 | €28,527 | +€1,866 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €51,031 | €109,917 | +€58,886 | +115.4% |
| Income taxes | 67/77 | €7,821 | €9,889 | +€2,068 | +26.4% |
| Profit (loss) for the period | 9904 | €43,210 | €100,029 | +€56,818 | +131.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,210 | €100,029 | +€56,818 | +131.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.