JOCARS: 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.
JOCARS
Largest movements
- Stocks and contracts +€31,268
up €31,268 (+21.1%), from €148,529 to €179,797
- Receivables within one year +€17,379
up €17,379 (+158.1%), from €10,995 to €28,374
of which Trade receivables: +€18,584
- Cash +€10,624
up €10,624 (+19.6%), from €54,326 to €64,950
mainly Net result for the year (+€25,510) and Short-term financial debts (+€25,000)
- Tangible fixed assets -€3,868
down €3,868 (-14.5%), from €26,602 to €22,733
of which Land and buildings: -€2,124
- Reserves +€25,510
up €25,510 (+24.2%), from €105,222 to €130,732
- Short-term financial debts +€25,000
up €25,000 (+100.0%), from €25,000 to €50,000
- Tax, wage and social debts +€12,729
up €12,729 (+172.6%), from €7,376 to €20,105
of which Taxes: +€12,729
- Trade debts -€10,106
down €10,106 (-21.3%), from €47,503 to €37,396
- Gross operating margin +€26,621
up €26,621 (+94.1%), from €28,296 to €54,917
- Taxes +€9,000
up €9,000 (+216.9%), from €4,150 to €13,150
- Other operating charges +€1,592
up €1,592 (+24.1%), from €6,598 to €8,190
- Financial charges -€764
down €764 (-15.4%), from €4,965 to €4,201
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 | €243,939 | €299,513 | +€55,574 | +22.8% |
| Fixed assets | 21/28 | €26,787 | €22,918 | -€3,868 | -14.4% |
| Tangible fixed assets | 22/27 | €26,602 | €22,733 | -€3,868 | -14.5% |
| Land and buildings | 22 | €23,364 | €21,240 | -€2,124 | -9.1% |
| Plant, machinery and equipment | 23 | €3,237 | €1,493 | -€1,744 | -53.9% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €217,153 | €276,595 | +€59,442 | +27.4% |
| Stocks and contracts in progress | 3 | €148,529 | €179,797 | +€31,268 | +21.1% |
| Stocks | 30/36 | €148,529 | €179,797 | +€31,268 | +21.1% |
| Amounts receivable within one year | 40/41 | €10,995 | €28,374 | +€17,379 | +158.1% |
| Trade receivables | 40 | €9,790 | €28,374 | +€18,584 | +189.8% |
| Other amounts receivable | 41 | €1,205 | €0 | -€1,205 | -100.0% |
| Cash at bank and in hand | 54/58 | €54,326 | €64,950 | +€10,624 | +19.6% |
| Deferred charges and accrued income | 490/1 | €3,302 | €3,473 | +€170 | +5.2% |
| Total equity and liabilities | 10/49 | €243,939 | €299,513 | +€55,574 | +22.8% |
| Equity | 10/15 | €123,772 | €149,282 | +€25,510 | +20.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €105,222 | €130,732 | +€25,510 | +24.2% |
| Distributable reserves | 133 | €105,222 | €130,732 | +€25,510 | +24.2% |
| Amounts payable | 17/49 | €120,167 | €150,231 | +€30,064 | +25.0% |
| Amounts payable within one year | 42/48 | €120,167 | €150,231 | +€30,064 | +25.0% |
| Financial debts | 43 | €25,000 | €50,000 | +€25,000 | +100.0% |
| Credit institutions | 430/8 | €25,000 | €50,000 | +€25,000 | +100.0% |
| Trade debts | 44 | €47,503 | €37,396 | -€10,106 | -21.3% |
| Suppliers | 440/4 | €47,503 | €37,396 | -€10,106 | -21.3% |
| Taxes, remuneration and social security | 45 | €7,376 | €20,105 | +€12,729 | +172.6% |
| Taxes | 450/3 | €5,956 | €18,685 | +€12,729 | +213.7% |
| Remuneration and social security | 454/9 | €1,420 | €1,420 | = | 0.0% |
| Other amounts payable | 47/48 | €40,289 | €42,730 | +€2,441 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,868 | €3,868 | = | 0.0% |
| Other operating charges | 640/8 | €6,598 | €8,190 | +€1,592 | +24.1% |
| Gross operating margin | 9900 | €28,296 | €54,917 | +€26,621 | +94.1% |
| Operating profit (loss) | 9901 | €17,830 | €42,860 | +€25,029 | +140.4% |
| Financial income | 75/76B | €20 | €1 | -€19 | -96.5% |
| Recurring financial income | 75 | €20 | €1 | -€19 | -96.5% |
| Financial charges | 65/66B | €4,965 | €4,201 | -€764 | -15.4% |
| Recurring financial charges | 65 | €4,965 | €4,201 | -€764 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €12,886 | €38,660 | +€25,774 | +200.0% |
| Income taxes | 67/77 | €4,150 | €13,150 | +€9,000 | +216.9% |
| Profit (loss) for the period | 9904 | €8,736 | €25,510 | +€16,774 | +192.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,736 | €25,510 | +€16,774 | +192.0% |
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 5 October 2026 via checked.be.