JODA: 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.
JODA
Largest movements
- Cash +€64,178
up €64,178 (+55.4%), from €115,848 to €180,026
mainly Receivables within one year (+€39,624) and Net result for the year (+€18,073)
- Receivables within one year -€39,624
down €39,624 (-57.7%), from €68,633 to €29,009
of which Trade receivables: -€37,814
- Tangible fixed assets -€2,682
down €2,682 (-20.8%), from €12,927 to €10,244
of which Land and buildings: -€2,189
- Reserves +€18,073
up €18,073 (+11.0%), from €164,758 to €182,831
- Trade debts +€4,538
up €4,538 (+30.3%), from €14,975 to €19,513
- Staff costs +€16,937
new in 2025: €16,937
- Gross operating margin +€14,549
up €14,549 (+40.9%), from €35,592 to €50,141
- Taxes -€1,278
down €1,278 (-14.4%), from €8,856 to €7,578
- Depreciation +€1,070
up €1,070 (+17.1%), from €6,270 to €7,340
- Financial income +€749
up €749 (+259.3%), from €289 to €1,038
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 | €200,937 | €224,999 | +€24,062 | +12.0% |
| Fixed assets | 21/28 | €13,987 | €11,304 | -€2,682 | -19.2% |
| Tangible fixed assets | 22/27 | €12,927 | €10,244 | -€2,682 | -20.8% |
| Land and buildings | 22 | €2,296 | €106 | -€2,189 | -95.4% |
| Plant, machinery and equipment | 23 | €7,214 | €7,683 | +€469 | +6.5% |
| Furniture and vehicles | 24 | €289 | €452 | +€164 | +56.7% |
| Other tangible fixed assets | 26 | €3,128 | €2,003 | -€1,126 | -36.0% |
| Financial fixed assets | 28 | €1,060 | €1,060 | = | 0.0% |
| Current assets | 29/58 | €186,950 | €213,694 | +€26,744 | +14.3% |
| Stocks and contracts in progress | 3 | €521 | €1,026 | +€505 | +97.0% |
| Stocks | 30/36 | €521 | €1,026 | +€505 | +97.0% |
| Amounts receivable within one year | 40/41 | €68,633 | €29,009 | -€39,624 | -57.7% |
| Trade receivables | 40 | €63,103 | €25,289 | -€37,814 | -59.9% |
| Other amounts receivable | 41 | €5,530 | €3,720 | -€1,810 | -32.7% |
| Cash at bank and in hand | 54/58 | €115,848 | €180,026 | +€64,178 | +55.4% |
| Deferred charges and accrued income | 490/1 | €1,948 | €3,633 | +€1,685 | +86.5% |
| Total equity and liabilities | 10/49 | €200,937 | €224,999 | +€24,062 | +12.0% |
| Equity | 10/15 | €170,958 | €189,031 | +€18,073 | +10.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €164,758 | €182,831 | +€18,073 | +11.0% |
| Distributable reserves | 133 | €164,758 | €182,831 | +€18,073 | +11.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €29,978 | €35,968 | +€5,989 | +20.0% |
| Amounts payable within one year | 42/48 | €29,978 | €35,867 | +€5,889 | +19.6% |
| Trade debts | 44 | €14,975 | €19,513 | +€4,538 | +30.3% |
| Suppliers | 440/4 | €14,975 | €19,513 | +€4,538 | +30.3% |
| Advances received on contracts in progress | 46 | €1,380 | €0 | -€1,380 | -100.0% |
| Taxes, remuneration and social security | 45 | €8,156 | €10,366 | +€2,210 | +27.1% |
| Taxes | 450/3 | €5,764 | €7,972 | +€2,209 | +38.3% |
| Remuneration and social security | 454/9 | €2,392 | €2,393 | +€1 | 0.0% |
| Other amounts payable | 47/48 | €5,467 | €5,989 | +€522 | +9.5% |
| Accrued charges and deferred income | 492/3 | - | €100 | +€100 | |
| Remuneration, social security and pensions | 62 | - | €16,937 | +€16,937 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,270 | €7,340 | +€1,070 | +17.1% |
| Other operating charges | 640/8 | €1,139 | €1,078 | -€61 | -5.3% |
| Gross operating margin | 9900 | €35,592 | €50,141 | +€14,549 | +40.9% |
| Operating profit (loss) | 9901 | €28,182 | €24,785 | -€3,397 | -12.1% |
| Financial income | 75/76B | €289 | €1,038 | +€749 | +259.3% |
| Recurring financial income | 75 | €289 | €1,038 | +€749 | +259.3% |
| Financial charges | 65/66B | €113 | €174 | +€60 | +53.3% |
| Recurring financial charges | 65 | €113 | €174 | +€60 | +53.3% |
| Profit (loss) for the period before taxes | 9903 | €28,358 | €25,650 | -€2,708 | -9.5% |
| Income taxes | 67/77 | €8,856 | €7,578 | -€1,278 | -14.4% |
| Profit (loss) for the period | 9904 | €19,502 | €18,073 | -€1,430 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,502 | €18,073 | -€1,430 | -7.3% |
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 7 October 2026 via checked.be.