JOAL: 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.
JOAL
Largest movements
- Receivables within one year -€8,347
down €8,347 (-18.7%), from €44,626 to €36,280
of which Other amounts receivable: -€8,347
- Tangible fixed assets -€7,824
down €7,824 (-6.3%), from €123,240 to €115,417
- Cash +€7,593
up €7,593 (+477%), from €1,592 to €9,185
mainly Receivables within one year (+€8,347) and Depreciation (+€7,824)
- Reserves +€77,286
up €77,286 (+4,155%), from €1,860 to €79,146
- Profit (loss) carried forward -€73,747
down €73,747 (-100%), from €73,747 to €0
- Debts after one year -€10,272
down €10,272 (-44.6%), from €23,032 to €12,760
- Other debts +€2,400
up €2,400 (+6.6%), from €36,389 to €38,789
- Gross operating margin -€5,275
down €5,275 (-25.1%), from €20,991 to €15,716
- Financial charges -€1,027
down €1,027 (-39.4%), from €2,607 to €1,580
- Staff costs -€885
down €885 (-100%), from €885 to €0
- Taxes -€749
down €749 (-36.8%), from €2,037 to €1,288
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 | €169,459 | €160,881 | -€8,577 | -5.1% |
| Fixed assets | 21/28 | €123,240 | €115,417 | -€7,824 | -6.3% |
| Tangible fixed assets | 22/27 | €123,240 | €115,417 | -€7,824 | -6.3% |
| Land and buildings | 22 | €123,240 | €115,417 | -€7,824 | -6.3% |
| Current assets | 29/58 | €46,218 | €45,465 | -€754 | -1.6% |
| Amounts receivable within one year | 40/41 | €44,626 | €36,280 | -€8,347 | -18.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €44,626 | €36,280 | -€8,347 | -18.7% |
| Cash at bank and in hand | 54/58 | €1,592 | €9,185 | +€7,593 | +477% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €169,459 | €160,881 | -€8,577 | -5.1% |
| Equity | 10/15 | €94,207 | €97,746 | +€3,539 | +3.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €79,146 | +€77,286 | +4,155% |
| Distributable reserves | 133 | €1,860 | €79,146 | +€77,286 | +4,155% |
| Profit (loss) carried forward | 14 | €73,747 | €0 | -€73,747 | -100% |
| Amounts payable | 17/49 | €75,252 | €63,135 | -€12,117 | -16.1% |
| Amounts payable after more than one year | 17 | €23,032 | €12,760 | -€10,272 | -44.6% |
| Financial debts | 170/4 | €23,032 | €12,760 | -€10,272 | -44.6% |
| Amounts payable within one year | 42/48 | €52,220 | €50,375 | -€1,845 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €10,272 | €10,272 | = | 0.0% |
| Financial debts | 43 | €1,690 | €0 | -€1,690 | -100% |
| Credit institutions | 430/8 | €1,690 | €0 | -€1,690 | -100% |
| Trade debts | 44 | €1,142 | €26 | -€1,117 | -97.8% |
| Suppliers | 440/4 | €1,142 | €26 | -€1,117 | -97.8% |
| Taxes, remuneration and social security | 45 | €2,726 | €1,288 | -€1,438 | -52.7% |
| Taxes | 450/3 | €2,726 | €1,288 | -€1,438 | -52.7% |
| Other amounts payable | 47/48 | €36,389 | €38,789 | +€2,400 | +6.6% |
| Remuneration, social security and pensions | 62 | €885 | €0 | -€885 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,824 | €7,824 | = | 0.0% |
| Other operating charges | 640/8 | €1,526 | €1,485 | -€42 | -2.7% |
| Non-recurring operating charges | 66A | €8,619 | €0 | -€8,619 | -100% |
| Gross operating margin | 9900 | €20,991 | €15,716 | -€5,275 | -25.1% |
| Operating profit (loss) | 9901 | €2,138 | €6,408 | +€4,269 | +200% |
| Financial charges | 65/66B | €2,607 | €1,580 | -€1,027 | -39.4% |
| Recurring financial charges | 65 | €2,607 | €1,580 | -€1,027 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | -€469 | €4,828 | +€5,297 | |
| Income taxes | 67/77 | €2,037 | €1,288 | -€749 | -36.8% |
| Profit (loss) for the period | 9904 | -€2,506 | €3,539 | +€6,046 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,506 | €3,539 | +€6,046 |
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 27 October 2026 via checked.be.