JOAN-PRODUCTS: 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.
JOAN-PRODUCTS
Largest movements
- Cash +€418,316
up €418,316 (+86.0%), from €486,337 to €904,653
mainly Current investments (+€400,000) and Net result for the year (+€99,250)
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Tangible fixed assets +€67,371
up €67,371 (+22.0%), from €305,891 to €373,262
of which Furniture and vehicles: +€77,344
- Receivables within one year -€39,633
down €39,633 (-43.4%), from €91,282 to €51,649
of which Other amounts receivable: -€24,763
- Stocks and contracts -€16,135
down €16,135 (-45.2%), from €35,713 to €19,578
- Reserves +€99,250
up €99,250 (+14.7%), from €675,018 to €774,268
- Provisions -€70,000
no longer reported in 2025 (was €70,000)
- Trade debts -€63,396
down €63,396 (-62.6%), from €101,205 to €37,809
- Debts after one year +€63,169
up €63,169 (+42.1%), from €150,000 to €213,169
- Other debts -€28,869
down €28,869 (-16.4%), from €175,596 to €146,727
- Provisions -€140,000
down €140,000, from €70,000 to -€70,000
- Gross operating margin -€139,311
down €139,311 (-54.2%), from €256,935 to €117,624
- Financial income +€16,130
up €16,130 (+1,190%), from €1,355 to €17,485
- Depreciation +€13,921
up €13,921 (+48.6%), from €28,652 to €42,573
- Other operating charges +€4,502
up €4,502 (+83.5%), from €5,393 to €9,895
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 | €1,321,940 | €1,349,892 | +€27,952 | +2.1% |
| Fixed assets | 21/28 | €305,891 | €373,262 | +€67,371 | +22.0% |
| Tangible fixed assets | 22/27 | €305,891 | €373,262 | +€67,371 | +22.0% |
| Land and buildings | 22 | €244,059 | €241,279 | -€2,780 | -1.1% |
| Plant, machinery and equipment | 23 | €14,183 | €6,990 | -€7,193 | -50.7% |
| Furniture and vehicles | 24 | €47,649 | €124,993 | +€77,344 | +162% |
| Current assets | 29/58 | €1,016,049 | €976,630 | -€39,419 | -3.9% |
| Stocks and contracts in progress | 3 | €35,713 | €19,578 | -€16,135 | -45.2% |
| Stocks | 30/36 | €35,713 | €19,578 | -€16,135 | -45.2% |
| Amounts receivable within one year | 40/41 | €91,282 | €51,649 | -€39,633 | -43.4% |
| Trade receivables | 40 | €56,519 | €41,649 | -€14,870 | -26.3% |
| Other amounts receivable | 41 | €34,763 | €10,000 | -€24,763 | -71.2% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €486,337 | €904,653 | +€418,316 | +86.0% |
| Deferred charges and accrued income | 490/1 | €2,717 | €750 | -€1,967 | -72.4% |
| Total equity and liabilities | 10/49 | €1,321,940 | €1,349,892 | +€27,952 | +2.1% |
| Equity | 10/15 | €802,167 | €901,417 | +€99,250 | +12.4% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €675,018 | €774,268 | +€99,250 | +14.7% |
| Distributable reserves | 133 | €675,018 | €774,268 | +€99,250 | +14.7% |
| Profit (loss) carried forward | 14 | €8,549 | €8,549 | = | 0.0% |
| Provisions and deferred taxes | 16 | €70,000 | - | -€70,000 | |
| Provisions for liabilities and charges | 160/5 | €70,000 | - | -€70,000 | |
| Other liabilities and charges | 164/5 | €70,000 | - | -€70,000 | |
| Amounts payable | 17/49 | €449,773 | €448,475 | -€1,298 | -0.3% |
| Amounts payable after more than one year | 17 | €150,000 | €213,169 | +€63,169 | +42.1% |
| Financial debts | 170/4 | €150,000 | €213,169 | +€63,169 | +42.1% |
| Amounts payable within one year | 42/48 | €294,523 | €230,056 | -€64,467 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | - | €16,138 | +€16,138 | |
| Trade debts | 44 | €101,205 | €37,809 | -€63,396 | -62.6% |
| Suppliers | 440/4 | €101,205 | €37,809 | -€63,396 | -62.6% |
| Taxes, remuneration and social security | 45 | €17,722 | €29,382 | +€11,660 | +65.8% |
| Taxes | 450/3 | €15,722 | €29,382 | +€13,660 | +86.9% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €175,596 | €146,727 | -€28,869 | -16.4% |
| Accrued charges and deferred income | 492/3 | €5,250 | €5,250 | = | 0.0% |
| Non-recurring operating income | 76A | - | €6,612 | +€6,612 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,652 | €42,573 | +€13,921 | +48.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €70,000 | -€70,000 | -€140,000 | |
| Other operating charges | 640/8 | €5,393 | €9,895 | +€4,502 | +83.5% |
| Non-recurring operating charges | 66A | €4,484 | - | -€4,484 | |
| Gross operating margin | 9900 | €256,935 | €117,624 | -€139,311 | -54.2% |
| Operating profit (loss) | 9901 | €148,406 | €135,156 | -€13,250 | -8.9% |
| Financial income | 75/76B | €1,355 | €17,485 | +€16,130 | +1,190% |
| Recurring financial income | 75 | €1,355 | €17,485 | +€16,130 | +1,190% |
| Financial charges | 65/66B | €6,892 | €8,221 | +€1,329 | +19.3% |
| Recurring financial charges | 65 | €6,892 | €8,221 | +€1,329 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €142,869 | €144,420 | +€1,551 | +1.1% |
| Income taxes | 67/77 | €45,418 | €45,170 | -€248 | -0.5% |
| Profit (loss) for the period | 9904 | €97,451 | €99,250 | +€1,799 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €97,451 | €99,250 | +€1,799 | +1.8% |
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 18 October 2026 via checked.be.