JOAGES: 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.
JOAGES
Largest movements
- Cash -€79,780
down €79,780 (-42.2%), from €189,039 to €109,259
mainly Debts after one year (-€87,116) and Investment in fixed assets (net) (-€81,224)
- Tangible fixed assets -€62,505
down €62,505 (-6.5%), from €968,853 to €906,347
of which Land and buildings: -€111,399
- Receivables within one year +€16,878
up €16,878 (+38.1%), from €44,309 to €61,188
- Debts after one year -€87,116
down €87,116 (-39.8%), from €218,813 to €131,697
- Other debts -€20,980
down €20,980 (-24.8%), from €84,732 to €63,752
- Current portion of long-term debt -€13,776
down €13,776 (-13.5%), from €102,284 to €88,509
- Gross operating margin -€33,652
down €33,652 (-11.0%), from €304,964 to €271,312
- Taxes -€7,900
down €7,900 (-25.3%), from €31,234 to €23,334
- Financial charges -€4,008
down €4,008 (-28.7%), from €13,967 to €9,960
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 | €1,207,672 | €1,083,406 | -€124,266 | -10.3% |
| Fixed assets | 21/28 | €968,853 | €906,347 | -€62,505 | -6.5% |
| Tangible fixed assets | 22/27 | €968,853 | €906,347 | -€62,505 | -6.5% |
| Land and buildings | 22 | €968,853 | €857,454 | -€111,399 | -11.5% |
| Furniture and vehicles | 24 | - | €48,893 | +€48,893 | |
| Current assets | 29/58 | €238,819 | €177,059 | -€61,760 | -25.9% |
| Amounts receivable within one year | 40/41 | €44,309 | €61,188 | +€16,878 | +38.1% |
| Other amounts receivable | 41 | €44,309 | €61,188 | +€16,878 | +38.1% |
| Cash at bank and in hand | 54/58 | €189,039 | €109,259 | -€79,780 | -42.2% |
| Deferred charges and accrued income | 490/1 | €5,471 | €6,612 | +€1,141 | +20.9% |
| Total equity and liabilities | 10/49 | €1,207,672 | €1,083,406 | -€124,266 | -10.3% |
| Equity | 10/15 | €760,000 | €760,000 | = | 0.0% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €160,000 | €160,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €60,000 | €60,000 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable | 17/49 | €447,672 | €323,406 | -€124,266 | -27.8% |
| Amounts payable after more than one year | 17 | €218,813 | €131,697 | -€87,116 | -39.8% |
| Financial debts | 170/4 | €218,813 | €131,697 | -€87,116 | -39.8% |
| Amounts payable within one year | 42/48 | €219,958 | €182,576 | -€37,382 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €102,284 | €88,509 | -€13,776 | -13.5% |
| Trade debts | 44 | €1,707 | €6,980 | +€5,273 | +308.9% |
| Suppliers | 440/4 | €1,707 | €6,980 | +€5,273 | +308.9% |
| Taxes, remuneration and social security | 45 | €31,234 | €23,334 | -€7,900 | -25.3% |
| Taxes | 450/3 | €31,234 | €23,334 | -€7,900 | -25.3% |
| Other amounts payable | 47/48 | €84,732 | €63,752 | -€20,980 | -24.8% |
| Accrued charges and deferred income | 492/3 | €8,901 | €9,133 | +€232 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,455 | €143,729 | +€2,273 | +1.6% |
| Other operating charges | 640/8 | €35,545 | €36,894 | +€1,349 | +3.8% |
| Gross operating margin | 9900 | €304,964 | €271,312 | -€33,652 | -11.0% |
| Operating profit (loss) | 9901 | €127,964 | €90,689 | -€37,275 | -29.1% |
| Financial income | 75/76B | €117 | €1,357 | +€1,240 | +1064.6% |
| Recurring financial income | 75 | €117 | €1,357 | +€1,240 | +1064.6% |
| Financial charges | 65/66B | €13,967 | €9,960 | -€4,008 | -28.7% |
| Recurring financial charges | 65 | €13,967 | €9,960 | -€4,008 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €114,113 | €82,087 | -€32,027 | -28.1% |
| Income taxes | 67/77 | €31,234 | €23,334 | -€7,900 | -25.3% |
| Profit (loss) for the period | 9904 | €82,879 | €58,752 | -€24,127 | -29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €82,879 | €58,752 | -€24,127 | -29.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.