JO.NA: 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.NA
Largest movements
- Receivables within one year -€67,305
down €67,305 (-73.6%), from €91,445 to €24,140
of which Trade receivables: -€44,386
- Tangible fixed assets -€45,109
down €45,109 (-3.9%), from €1.2m to €1.1m
of which Land and buildings: -€43,269
- Reserves -€75,648
down €75,648 (-23.3%), from €324,152 to €248,504
- Debts after one year -€42,211
down €42,211 (-4.5%), from €935,278 to €893,067
of which Financial debts: -€67,211
- Other debts +€28,393
new in 2025: €28,393
- Gross operating margin -€16,815
down €16,815 (-13.1%), from €128,329 to €111,514
- Taxes -€4,898
down €4,898 (-32.4%), from €15,098 to €10,200
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 | €1,390,836 | €1,283,700 | -€107,135 | -7.7% |
| Fixed assets | 21/28 | €1,296,143 | €1,251,034 | -€45,109 | -3.5% |
| Tangible fixed assets | 22/27 | €1,169,273 | €1,124,164 | -€45,109 | -3.9% |
| Land and buildings | 22 | €1,164,297 | €1,121,028 | -€43,269 | -3.7% |
| Plant, machinery and equipment | 23 | €4,895 | €3,137 | -€1,759 | -35.9% |
| Furniture and vehicles | 24 | €81 | - | -€81 | |
| Financial fixed assets | 28 | €126,869 | €126,869 | = | 0.0% |
| Current assets | 29/58 | €94,693 | €32,666 | -€62,026 | -65.5% |
| Amounts receivable within one year | 40/41 | €91,445 | €24,140 | -€67,305 | -73.6% |
| Trade receivables | 40 | €67,715 | €23,330 | -€44,386 | -65.5% |
| Other amounts receivable | 41 | €23,729 | €810 | -€22,919 | -96.6% |
| Cash at bank and in hand | 54/58 | - | €6,200 | +€6,200 | |
| Deferred charges and accrued income | 490/1 | €3,248 | €2,327 | -€922 | -28.4% |
| Total equity and liabilities | 10/49 | €1,390,836 | €1,283,700 | -€107,135 | -7.7% |
| Equity | 10/15 | €336,552 | €260,904 | -€75,648 | -22.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €324,152 | €248,504 | -€75,648 | -23.3% |
| Distributable reserves | 133 | €324,152 | €248,504 | -€75,648 | -23.3% |
| Amounts payable | 17/49 | €1,054,284 | €1,022,796 | -€31,487 | -3.0% |
| Amounts payable after more than one year | 17 | €935,278 | €893,067 | -€42,211 | -4.5% |
| Financial debts | 170/4 | €935,278 | €868,067 | -€67,211 | -7.2% |
| Other amounts payable | 178/9 | - | €25,000 | +€25,000 | |
| Amounts payable within one year | 42/48 | €114,648 | €126,557 | +€11,908 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €68,257 | €67,211 | -€1,046 | -1.5% |
| Financial debts | 43 | €12,824 | - | -€12,824 | |
| Credit institutions | 430/8 | €12,824 | - | -€12,824 | |
| Trade debts | 44 | €14,351 | €17,888 | +€3,538 | +24.7% |
| Suppliers | 440/4 | €14,351 | €17,888 | +€3,538 | +24.7% |
| Taxes, remuneration and social security | 45 | €19,217 | €13,064 | -€6,153 | -32.0% |
| Taxes | 450/3 | €19,217 | €13,064 | -€6,153 | -32.0% |
| Other amounts payable | 47/48 | - | €28,393 | +€28,393 | |
| Accrued charges and deferred income | 492/3 | €4,357 | €3,173 | -€1,185 | -27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,527 | €45,109 | -€418 | -0.9% |
| Other operating charges | 640/8 | €3,241 | €3,445 | +€204 | +6.3% |
| Gross operating margin | 9900 | €128,329 | €111,514 | -€16,815 | -13.1% |
| Operating profit (loss) | 9901 | €79,562 | €62,960 | -€16,602 | -20.9% |
| Financial income | 75/76B | €0 | €35 | +€35 | +173650.0% |
| Recurring financial income | 75 | €0 | €35 | +€35 | +173650.0% |
| Financial charges | 65/66B | €27,836 | €28,442 | +€606 | +2.2% |
| Recurring financial charges | 65 | €27,836 | €28,442 | +€606 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €51,726 | €34,552 | -€17,174 | -33.2% |
| Income taxes | 67/77 | €15,098 | €10,200 | -€4,898 | -32.4% |
| Profit (loss) for the period | 9904 | €36,628 | €24,352 | -€12,275 | -33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,628 | €24,352 | -€12,275 | -33.5% |
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 11 October 2026 via checked.be.