JOCSRE: 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.
JOCSRE
Largest movements
- Current investments +€3.3m
up €3.3m (+45.9%), from €7.2m to €10.6m
- Tangible fixed assets -€1.7m
down €1.7m (-42.2%), from €4.0m to €2.3m
of which Land and buildings: -€1.7m
- Cash -€1.2m
down €1.2m (-53.6%), from €2.3m to €1.1m
mainly Current investments (-€3.3m) and Contributions, distributions and other (-€1.6m)
- Reserves +€819,449
up €819,449 (+2.9%), from €27.8m to €28.6m
of which Distributable reserves: +€819,449
- Financial income -€605,570
down €605,570 (-19.0%), from €3.2m to €2.6m
- Gross operating margin +€500,415
up €500,415, from -€108,670 to €391,745
- Financial charges +€51,962
up €51,962, from -€17,016 to €34,946
- Depreciation +€50,184
up €50,184 (+35.9%), from €139,948 to €190,131
- Taxes -€20,538
down €20,538 (-7.8%), from €263,473 to €242,935
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 | €69,036,992 | €70,340,531 | +€1.3m | +1.9% |
| Fixed assets | 21/28 | €56,796,507 | €55,612,744 | -€1.2m | -2.1% |
| Tangible fixed assets | 22/27 | €3,985,474 | €2,301,711 | -€1.7m | -42.2% |
| Land and buildings | 22 | €3,732,358 | €2,019,312 | -€1.7m | -45.9% |
| Plant, machinery and equipment | 23 | €15,120 | €8,801 | -€6,320 | -41.8% |
| Furniture and vehicles | 24 | €237,995 | €273,598 | +€35,603 | +15.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €52,811,033 | €53,311,033 | +€500,000 | +0.9% |
| Current assets | 29/58 | €12,240,485 | €14,727,787 | +€2.5m | +20.3% |
| Amounts receivable after more than one year | 29 | €2,652,319 | €3,073,090 | +€420,771 | +15.9% |
| Other amounts receivable | 291 | €2,652,319 | €3,073,090 | +€420,771 | +15.9% |
| Amounts receivable within one year | 40/41 | €55,487 | €21,175 | -€34,312 | -61.8% |
| Trade receivables | 40 | €21,192 | €21,175 | -€17 | -0.1% |
| Other amounts receivable | 41 | €34,296 | €0 | -€34,296 | -100% |
| Current investments | 50/53 | €7,241,908 | €10,565,690 | +€3.3m | +45.9% |
| Cash at bank and in hand | 54/58 | €2,273,969 | €1,054,633 | -€1.2m | -53.6% |
| Deferred charges and accrued income | 490/1 | €16,802 | €13,199 | -€3,603 | -21.4% |
| Total equity and liabilities | 10/49 | €69,036,992 | €70,340,531 | +€1.3m | +1.9% |
| Equity | 10/15 | €67,817,012 | €68,636,461 | +€819,449 | +1.2% |
| Contributions | 10/11 | €40,000,000 | €40,000,000 | = | 0.0% |
| Reserves | 13 | €27,817,012 | €28,636,461 | +€819,449 | +2.9% |
| Non-distributable reserves | 130/1 | €362,000 | €362,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €362,000 | €362,000 | = | 0.0% |
| Distributable reserves | 133 | €27,455,012 | €28,274,461 | +€819,449 | +3.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,219,980 | €1,704,070 | +€484,090 | +39.7% |
| Amounts payable within one year | 42/48 | €1,218,930 | €1,704,070 | +€485,140 | +39.8% |
| Trade debts | 44 | €24,710 | €981 | -€23,729 | -96.0% |
| Suppliers | 440/4 | €24,710 | €981 | -€23,729 | -96.0% |
| Taxes, remuneration and social security | 45 | €234,111 | €462,847 | +€228,735 | +97.7% |
| Taxes | 450/3 | €227,115 | €456,695 | +€229,580 | +101% |
| Remuneration and social security | 454/9 | €6,997 | €6,152 | -€845 | -12.1% |
| Other amounts payable | 47/48 | €960,108 | €1,240,242 | +€280,134 | +29.2% |
| Accrued charges and deferred income | 492/3 | €1,050 | €0 | -€1,050 | -100% |
| Non-recurring operating income | 76A | €21,718 | €450,192 | +€428,474 | +1,973% |
| Remuneration, social security and pensions | 62 | €53,629 | €56,018 | +€2,389 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,948 | €190,131 | +€50,184 | +35.9% |
| Other operating charges | 640/8 | €6,478 | €25,091 | +€18,613 | +287% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€108,670 | €391,745 | +€500,415 | |
| Operating profit (loss) | 9901 | -€308,725 | €120,504 | +€429,229 | |
| Financial income | 75/76B | €3,182,396 | €2,576,826 | -€605,570 | -19.0% |
| Recurring financial income | 75 | €3,182,396 | €2,576,826 | -€605,570 | -19.0% |
| Financial charges | 65/66B | -€17,016 | €34,946 | +€51,962 | |
| Recurring financial charges | 65 | -€17,016 | €34,946 | +€51,962 | |
| Profit (loss) for the period before taxes | 9903 | €2,890,687 | €2,662,384 | -€228,303 | -7.9% |
| Income taxes | 67/77 | €263,473 | €242,935 | -€20,538 | -7.8% |
| Profit (loss) for the period | 9904 | €2,627,214 | €2,419,449 | -€207,765 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,627,214 | €2,419,449 | -€207,765 | -7.9% |
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 20 October 2026 via checked.be.