JO-NA: 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-NA
Largest movements
- Financial fixed assets +€2.5m
up €2.5m (+27.8%), from €8.9m to €11.4m
- Current investments -€997,063
down €997,063 (-75.5%), from €1.3m to €323,903
- Reserves +€2.2m
up €2.2m (+109.0%), from €2.0m to €4.2m
- Other debts -€1.0m
down €1.0m (-100.0%), from €1.0m to €0
- Contributions -€1.0m
down €1.0m (-11.0%), from €9.1m to €8.1m
- Profit (loss) carried forward +€996,328
up €996,328, from -€996,328 to €0
- Tax, wage and social debts +€216,940
up €216,940 (+3537.1%), from €6,133 to €223,073
of which Taxes: +€216,940
- Financial income +€2.9m
up €2.9m (+706.8%), from €411,016 to €3.3m
of which Non-recurring financial income: +€2.5m
- Taxes +€226,466
up €226,466 (+562.7%), from €40,244 to €266,710
- Gross operating margin +€27,074
up €27,074 (+15.6%), from €173,920 to €200,994
- Financial charges +€12,230
up €12,230, from -€11,751 to €480
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 | €11,162,318 | €12,606,934 | +€1.4m | +12.9% |
| Fixed assets | 21/28 | €9,698,470 | €12,148,932 | +€2.5m | +25.3% |
| Tangible fixed assets | 22/27 | €794,043 | €767,794 | -€26,249 | -3.3% |
| Land and buildings | 22 | €789,056 | €762,903 | -€26,153 | -3.3% |
| Plant, machinery and equipment | 23 | €4,967 | €4,891 | -€76 | -1.5% |
| Furniture and vehicles | 24 | €20 | €0 | -€20 | -100.0% |
| Financial fixed assets | 28 | €8,904,427 | €11,381,138 | +€2.5m | +27.8% |
| Current assets | 29/58 | €1,463,848 | €458,003 | -€1.0m | -68.7% |
| Amounts receivable within one year | 40/41 | €33,839 | €47,439 | +€13,600 | +40.2% |
| Trade receivables | 40 | €33,015 | €45,448 | +€12,433 | +37.7% |
| Other amounts receivable | 41 | €824 | €1,992 | +€1,167 | +141.6% |
| Current investments | 50/53 | €1,320,966 | €323,903 | -€997,063 | -75.5% |
| Cash at bank and in hand | 54/58 | €104,216 | €86,089 | -€18,127 | -17.4% |
| Deferred charges and accrued income | 490/1 | €4,827 | €572 | -€4,255 | -88.2% |
| Total equity and liabilities | 10/49 | €11,162,318 | €12,606,934 | +€1.4m | +12.9% |
| Equity | 10/15 | €10,153,919 | €12,359,516 | +€2.2m | +21.7% |
| Contributions | 10/11 | €9,123,718 | €8,123,718 | -€1.0m | -11.0% |
| Reserves | 13 | €2,026,529 | €4,235,798 | +€2.2m | +109.0% |
| Distributable reserves | 133 | €2,026,529 | €4,235,798 | +€2.2m | +109.0% |
| Profit (loss) carried forward | 14 | -€996,328 | €0 | +€996,328 | |
| Amounts payable | 17/49 | €1,008,399 | €247,418 | -€760,981 | -75.5% |
| Amounts payable within one year | 42/48 | €1,008,399 | €246,668 | -€761,731 | -75.5% |
| Trade debts | 44 | €2,151 | €23,595 | +€21,444 | +996.8% |
| Suppliers | 440/4 | €2,151 | €23,595 | +€21,444 | +996.8% |
| Taxes, remuneration and social security | 45 | €6,133 | €223,073 | +€216,940 | +3537.1% |
| Taxes | 450/3 | €4,883 | €221,823 | +€216,940 | +4442.5% |
| Remuneration and social security | 454/9 | €1,250 | €1,250 | = | 0.0% |
| Other amounts payable | 47/48 | €1,000,115 | €0 | -€1.0m | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €750 | +€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,582 | €33,011 | -€571 | -1.7% |
| Other operating charges | 640/8 | €9,797 | €11,376 | +€1,579 | +16.1% |
| Gross operating margin | 9900 | €173,920 | €200,994 | +€27,074 | +15.6% |
| Operating profit (loss) | 9901 | €130,541 | €156,607 | +€26,066 | +20.0% |
| Financial income | 75/76B | €411,016 | €3,316,180 | +€2.9m | +706.8% |
| Recurring financial income | 75 | €411,016 | €839,469 | +€428,453 | +104.2% |
| Non-recurring financial income | 76B | - | €2,476,711 | +€2.5m | |
| Financial charges | 65/66B | -€11,751 | €480 | +€12,230 | |
| Recurring financial charges | 65 | -€11,751 | €480 | +€12,230 | |
| Profit (loss) for the period before taxes | 9903 | €553,308 | €3,472,307 | +€2.9m | +527.6% |
| Income taxes | 67/77 | €40,244 | €266,710 | +€226,466 | +562.7% |
| Profit (loss) for the period | 9904 | €513,064 | €3,205,597 | +€2.7m | +524.8% |
| Profit (loss) for the period to be appropriated | 9905 | €513,064 | €3,205,597 | +€2.7m | +524.8% |
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 7 October 2026 via checked.be.