JOCAPA: 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.
JOCAPA
Largest movements
- Tangible fixed assets +€9,460
up €9,460 (+119%), from €7,959 to €17,419
of which Plant, machinery and equipment: +€6,332
- Receivables within one year +€6,666
up €6,666 (+34.2%), from €19,481 to €26,147
of which Other amounts receivable: +€4,121
- Cash +€1,624
up €1,624 (+1.6%), from €102,171 to €103,795
mainly Net result for the year (+€17,289) and Depreciation (+€6,640)
- Reserves +€17,289
up €17,289 (+14.8%), from €116,960 to €134,249
- Gross operating margin +€20,078
up €20,078 (+125%), from €16,107 to €36,185
- Taxes +€6,161
up €6,161 (+158%), from €3,894 to €10,055
- Other operating charges +€1,245
up €1,245 (+146%), from €855 to €2,100
- Depreciation +€987
up €987 (+17.5%), from €5,653 to €6,640
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 | €129,611 | €147,361 | +€17,750 | +13.7% |
| Fixed assets | 21/28 | €7,959 | €17,419 | +€9,460 | +119% |
| Tangible fixed assets | 22/27 | €7,959 | €17,419 | +€9,460 | +119% |
| Plant, machinery and equipment | 23 | €1,099 | €7,430 | +€6,332 | +576% |
| Furniture and vehicles | 24 | €6,860 | €9,988 | +€3,128 | +45.6% |
| Current assets | 29/58 | €121,652 | €129,942 | +€8,290 | +6.8% |
| Amounts receivable within one year | 40/41 | €19,481 | €26,147 | +€6,666 | +34.2% |
| Trade receivables | 40 | €300 | €2,845 | +€2,545 | +848% |
| Other amounts receivable | 41 | €19,181 | €23,302 | +€4,121 | +21.5% |
| Cash at bank and in hand | 54/58 | €102,171 | €103,795 | +€1,624 | +1.6% |
| Total equity and liabilities | 10/49 | €129,611 | €147,361 | +€17,750 | +13.7% |
| Equity | 10/15 | €129,360 | €146,649 | +€17,289 | +13.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €116,960 | €134,249 | +€17,289 | +14.8% |
| Distributable reserves | 133 | €116,960 | €134,249 | +€17,289 | +14.8% |
| Amounts payable | 17/49 | €252 | €712 | +€460 | +183% |
| Amounts payable within one year | 42/48 | €252 | €712 | +€460 | +183% |
| Trade debts | 44 | €252 | €712 | +€460 | +183% |
| Suppliers | 440/4 | €252 | €712 | +€460 | +183% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,653 | €6,640 | +€987 | +17.5% |
| Other operating charges | 640/8 | €855 | €2,100 | +€1,245 | +146% |
| Gross operating margin | 9900 | €16,107 | €36,185 | +€20,078 | +125% |
| Operating profit (loss) | 9901 | €9,599 | €27,444 | +€17,845 | +186% |
| Financial income | 75/76B | €0 | €0 | +€0 | +500% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +500% |
| Financial charges | 65/66B | €89 | €101 | +€11 | +12.5% |
| Recurring financial charges | 65 | €89 | €101 | +€11 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €9,510 | €27,344 | +€17,834 | +188% |
| Income taxes | 67/77 | €3,894 | €10,055 | +€6,161 | +158% |
| Profit (loss) for the period | 9904 | €5,616 | €17,289 | +€11,673 | +208% |
| Profit (loss) for the period to be appropriated | 9905 | €5,616 | €17,289 | +€11,673 | +208% |
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 24 October 2026 via checked.be.