JOANNA: 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.
JOANNA
Largest movements
- Receivables within one year +€134,915
up €134,915 (+317.9%), from €42,441 to €177,356
of which Trade receivables: +€137,421
- Deferred charges and accrued income -€71,715
down €71,715 (-100.0%), from €71,715 to €0
- Cash -€43,193
down €43,193 (-71.1%), from €60,749 to €17,557
mainly Receivables within one year (-€134,915) and Tax, wage and social debts (-€15,580)
- Tangible fixed assets -€18,919
down €18,919 (-59.1%), from €32,010 to €13,091
of which Furniture and vehicles: -€17,601
- Stocks and contracts -€4,062
down €4,062 (-58.2%), from €6,978 to €2,916
- Accrued charges and deferred income +€40,183
up €40,183 (+100.6%), from €39,937 to €80,120
- Tax, wage and social debts -€15,580
down €15,580 (-90.9%), from €17,136 to €1,556
of which Taxes: -€16,009
- Profit (loss) carried forward -€14,270
down €14,270 (-15.1%), from €94,723 to €80,452
- Current portion of long-term debt -€8,740
down €8,740 (-25.0%), from €34,947 to €26,207
- Debts after one year -€3,488
down €3,488 (-100.0%), from €3,488 to €0
- Taxes +€72,990
up €72,990 (+404.7%), from €18,036 to €91,026
- Gross operating margin +€54,583
up €54,583 (+27.0%), from €201,799 to €256,383
- Depreciation -€11,464
down €11,464 (-86.0%), from €13,329 to €1,865
- Staff costs +€11,332
up €11,332 (+6.2%), from €184,144 to €195,475
- Financial income +€10,816
up €10,816 (+95.5%), from €11,324 to €22,141
of which Non-recurring financial income: +€22,095
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 | €213,893 | €210,920 | -€2,973 | -1.4% |
| Fixed assets | 21/28 | €32,010 | €13,091 | -€18,919 | -59.1% |
| Tangible fixed assets | 22/27 | €32,010 | €13,091 | -€18,919 | -59.1% |
| Land and buildings | 22 | €6,519 | €5,432 | -€1,086 | -16.7% |
| Plant, machinery and equipment | 23 | €5,721 | €5,490 | -€231 | -4.0% |
| Furniture and vehicles | 24 | €19,770 | €2,169 | -€17,601 | -89.0% |
| Current assets | 29/58 | €181,883 | €197,829 | +€15,946 | +8.8% |
| Stocks and contracts in progress | 3 | €6,978 | €2,916 | -€4,062 | -58.2% |
| Stocks | 30/36 | €6,978 | €2,916 | -€4,062 | -58.2% |
| Amounts receivable within one year | 40/41 | €42,441 | €177,356 | +€134,915 | +317.9% |
| Trade receivables | 40 | €18,820 | €156,242 | +€137,421 | +730.2% |
| Other amounts receivable | 41 | €23,620 | €21,114 | -€2,506 | -10.6% |
| Cash at bank and in hand | 54/58 | €60,749 | €17,557 | -€43,193 | -71.1% |
| Deferred charges and accrued income | 490/1 | €71,715 | €0 | -€71,715 | -100.0% |
| Total equity and liabilities | 10/49 | €213,893 | €210,920 | -€2,973 | -1.4% |
| Equity | 10/15 | €113,323 | €99,052 | -€14,270 | -12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,723 | €80,452 | -€14,270 | -15.1% |
| Amounts payable | 17/49 | €100,570 | €111,868 | +€11,298 | +11.2% |
| Amounts payable after more than one year | 17 | €3,488 | €0 | -€3,488 | -100.0% |
| Financial debts | 170/4 | €3,488 | €0 | -€3,488 | -100.0% |
| Amounts payable within one year | 42/48 | €57,145 | €31,747 | -€25,398 | -44.4% |
| Current portion of amounts payable after more than one year | 42 | €34,947 | €26,207 | -€8,740 | -25.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,790 | €3,984 | +€194 | +5.1% |
| Suppliers | 440/4 | €3,790 | €3,984 | +€194 | +5.1% |
| Taxes, remuneration and social security | 45 | €17,136 | €1,556 | -€15,580 | -90.9% |
| Taxes | 450/3 | €16,009 | €0 | -€16,009 | -100.0% |
| Remuneration and social security | 454/9 | €1,127 | €1,556 | +€429 | +38.1% |
| Other amounts payable | 47/48 | €1,271 | €0 | -€1,271 | -100.0% |
| Accrued charges and deferred income | 492/3 | €39,937 | €80,120 | +€40,183 | +100.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €184,144 | €195,475 | +€11,332 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,329 | €1,865 | -€11,464 | -86.0% |
| Other operating charges | 640/8 | €1,211 | €1,275 | +€64 | +5.3% |
| Gross operating margin | 9900 | €201,799 | €256,383 | +€54,583 | +27.0% |
| Operating profit (loss) | 9901 | €3,115 | €57,766 | +€54,652 | +1754.7% |
| Financial income | 75/76B | €11,324 | €22,141 | +€10,816 | +95.5% |
| Recurring financial income | 75 | €11,324 | €46 | -€11,279 | -99.6% |
| Non-recurring financial income | 76B | - | €22,095 | +€22,095 | |
| Financial charges | 65/66B | €3,886 | €3,152 | -€734 | -18.9% |
| Recurring financial charges | 65 | €3,886 | €3,152 | -€734 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €10,553 | €76,755 | +€66,202 | +627.3% |
| Income taxes | 67/77 | €18,036 | €91,026 | +€72,990 | +404.7% |
| Profit (loss) for the period | 9904 | -€7,483 | -€14,270 | -€6,787 | -90.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,483 | -€14,270 | -€6,787 | -90.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.