JOAFIN: 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.
JOAFIN
Largest movements
- Cash +€33,285
up €33,285 (+91.2%), from €36,514 to €69,799
mainly Net result for the year (+€25,915) and Depreciation (+€14,633)
- Tangible fixed assets -€10,725
down €10,725 (-47.0%), from €22,829 to €12,103
of which Furniture and vehicles: -€10,275
- Receivables within one year +€1,188
new in 2025: €1,188
- Reserves +€24,197
up €24,197 (+96.6%), from €25,041 to €49,238
- Tax, wage and social debts +€9,317
up €9,317 (+60.6%), from €15,382 to €24,699
- Debts after one year -€3,891
down €3,891 (-100%), from €3,891 to €0
- Current portion of long-term debt -€3,608
down €3,608 (-48.1%), from €7,498 to €3,891
- Other debts -€2,047
down €2,047 (-54.4%), from €3,765 to €1,718
- Gross operating margin +€7,792
up €7,792 (+16.8%), from €46,296 to €54,088
- Depreciation +€7,104
up €7,104 (+94.3%), from €7,529 to €14,633
- Financial charges +€934
up €934 (+65.8%), from €1,420 to €2,354
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 | €59,366 | €83,090 | +€23,724 | +40.0% |
| Fixed assets | 21/28 | €22,829 | €12,103 | -€10,725 | -47.0% |
| Tangible fixed assets | 22/27 | €22,829 | €12,103 | -€10,725 | -47.0% |
| Furniture and vehicles | 24 | €20,725 | €10,450 | -€10,275 | -49.6% |
| Other tangible fixed assets | 26 | €2,103 | €1,653 | -€450 | -21.4% |
| Current assets | 29/58 | €36,538 | €70,987 | +€34,449 | +94.3% |
| Amounts receivable within one year | 40/41 | - | €1,188 | +€1,188 | |
| Other amounts receivable | 41 | - | €1,188 | +€1,188 | |
| Cash at bank and in hand | 54/58 | €36,514 | €69,799 | +€33,285 | +91.2% |
| Deferred charges and accrued income | 490/1 | €24 | €0 | -€24 | -100% |
| Total equity and liabilities | 10/49 | €59,366 | €83,090 | +€23,724 | +40.0% |
| Equity | 10/15 | €27,041 | €51,238 | +€24,197 | +89.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €25,041 | €49,238 | +€24,197 | +96.6% |
| Distributable reserves | 133 | €25,041 | €49,238 | +€24,197 | +96.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,326 | €31,852 | -€473 | -1.5% |
| Amounts payable after more than one year | 17 | €3,891 | €0 | -€3,891 | -100% |
| Financial debts | 170/4 | €3,891 | €0 | -€3,891 | -100% |
| Amounts payable within one year | 42/48 | €28,435 | €31,826 | +€3,391 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €7,498 | €3,891 | -€3,608 | -48.1% |
| Trade debts | 44 | €1,790 | €1,519 | -€271 | -15.2% |
| Suppliers | 440/4 | €1,790 | €1,519 | -€271 | -15.2% |
| Taxes, remuneration and social security | 45 | €15,382 | €24,699 | +€9,317 | +60.6% |
| Taxes | 450/3 | €15,382 | €24,699 | +€9,317 | +60.6% |
| Other amounts payable | 47/48 | €3,765 | €1,718 | -€2,047 | -54.4% |
| Accrued charges and deferred income | 492/3 | - | €27 | +€27 | |
| Remuneration, social security and pensions | 62 | €1,448 | €1,944 | +€496 | +34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,529 | €14,633 | +€7,104 | +94.3% |
| Other operating charges | 640/8 | €746 | €499 | -€247 | -33.1% |
| Gross operating margin | 9900 | €46,296 | €54,088 | +€7,792 | +16.8% |
| Operating profit (loss) | 9901 | €36,572 | €37,012 | +€440 | +1.2% |
| Financial income | 75/76B | €47 | €26 | -€21 | -44.1% |
| Recurring financial income | 75 | €47 | €26 | -€21 | -44.1% |
| Financial charges | 65/66B | €1,420 | €2,354 | +€934 | +65.8% |
| Recurring financial charges | 65 | €1,420 | €2,354 | +€934 | +65.8% |
| Profit (loss) for the period before taxes | 9903 | €35,200 | €34,684 | -€516 | -1.5% |
| Income taxes | 67/77 | €8,441 | €8,769 | +€328 | +3.9% |
| Profit (loss) for the period | 9904 | €26,759 | €25,915 | -€843 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,759 | €25,915 | -€843 | -3.2% |
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 14 October 2026 via checked.be.