JODEKO: 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.
What changed
JODEKO
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2,210
2024 · €17,661-€19,870
Equity
€3.3m
2024 · €3.3m-€2,210
Cash
€282,840
2024 · €285,010-€2,170
Balance sheet total
€3.6m
2024 · €3.6m-€37,029
Largest movements
Assets
- Current investments -€97,997
down €97,997 (-18.3%), from €534,459 to €436,462
- Tangible fixed assets +€76,887
up €76,887 (+2.8%), from €2.7m to €2.8m
of which Land and buildings: +€76,946
Equity and liabilities
- Debts after one year -€57,423
down €57,423 (-25.8%), from €222,728 to €165,305
Income statement
- Depreciation +€48,892
up €48,892 (+21.2%), from €230,758 to €279,649
- Gross operating margin +€36,289
up €36,289 (+11.6%), from €311,856 to €348,145
- Taxes +€5,896
up €5,896 (+34.3%), from €17,197 to €23,093
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.
Result 2024
€17,661
Gross operating margin
+€36,289
Depreciation
-€48,892
Other operating charges
-€1,362
Financial income
-€1,331
Financial charges
+€1,321
Taxes
-€5,896
Result 2025
-€2,210
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.
From operations
+€312,414
Investment
-€258,539
Financing
-€56,044
Cash 2024
€285,010
From operations (derived)
+€312,414
Net result for the year
-€2,210
Depreciation
+€279,649
Receivables within one year
+€14,114
Smaller working-capital items
+€261
Tax, wage and social debts
+€20,599
Investment (derived)
-€258,539
Investment in fixed assets (net)
-€356,536
Current investments
+€97,997
Financing
-€56,044
Debts after one year
-€57,423
Current portion of long-term debt
+€1,379
Cash 2025
€282,840
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,588,471 | €3,551,443 | -€37,029 | -1.0% |
| Fixed assets | 21/28 | €2,726,859 | €2,803,746 | +€76,887 | +2.8% |
| Tangible fixed assets | 22/27 | €2,726,859 | €2,803,746 | +€76,887 | +2.8% |
| Land and buildings | 22 | €2,724,170 | €2,801,116 | +€76,946 | +2.8% |
| Furniture and vehicles | 24 | €2,689 | €2,630 | -€59 | -2.2% |
| Current assets | 29/58 | €861,612 | €747,697 | -€113,915 | -13.2% |
| Amounts receivable within one year | 40/41 | €36,060 | €21,946 | -€14,114 | -39.1% |
| Trade receivables | 40 | €11,597 | €10,764 | -€833 | -7.2% |
| Other amounts receivable | 41 | €24,463 | €11,183 | -€13,281 | -54.3% |
| Current investments | 50/53 | €534,459 | €436,462 | -€97,997 | -18.3% |
| Cash at bank and in hand | 54/58 | €285,010 | €282,840 | -€2,170 | -0.8% |
| Deferred charges and accrued income | 490/1 | €6,083 | €6,449 | +€365 | +6.0% |
| Total equity and liabilities | 10/49 | €3,588,471 | €3,551,443 | -€37,029 | -1.0% |
| Equity | 10/15 | €3,289,909 | €3,287,699 | -€2,210 | -0.1% |
| Contributions | 10/11 | €1,277,760 | €1,277,760 | = | 0.0% |
| Capital | 10 | €1,277,760 | €1,277,760 | = | 0.0% |
| Issued capital | 100 | €1,277,760 | €1,277,760 | = | 0.0% |
| Reserves | 13 | €1,222,315 | €1,219,892 | -€2,423 | -0.2% |
| Non-distributable reserves | 130/1 | €95,645 | €97,656 | +€2,011 | +2.1% |
| Legal reserve | 130 | €95,645 | €97,656 | +€2,011 | +2.1% |
| Tax-exempt reserves | 132 | €84,868 | €42,434 | -€42,434 | -50.0% |
| Distributable reserves | 133 | €1,041,802 | €1,079,802 | +€38,000 | +3.6% |
| Profit (loss) carried forward | 14 | €789,833 | €790,046 | +€213 | 0.0% |
| Amounts payable | 17/49 | €298,562 | €263,744 | -€34,819 | -11.7% |
| Amounts payable after more than one year | 17 | €222,728 | €165,305 | -€57,423 | -25.8% |
| Financial debts | 170/4 | €222,728 | €165,305 | -€57,423 | -25.8% |
| Amounts payable within one year | 42/48 | €70,981 | €93,008 | +€22,026 | +31.0% |
| Current portion of amounts payable after more than one year | 42 | €56,044 | €57,423 | +€1,379 | +2.5% |
| Trade debts | 44 | €2,000 | €2,000 | = | 0.0% |
| Suppliers | 440/4 | €2,000 | €2,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €20,599 | +€20,599 | |
| Taxes | 450/3 | - | €17,600 | +€17,600 | |
| Remuneration and social security | 454/9 | - | €2,999 | +€2,999 | |
| Other amounts payable | 47/48 | €12,937 | €12,986 | +€49 | +0.4% |
| Accrued charges and deferred income | 492/3 | €4,853 | €5,431 | +€578 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €230,758 | €279,649 | +€48,892 | +21.2% |
| Other operating charges | 640/8 | €43,033 | €44,395 | +€1,362 | +3.2% |
| Gross operating margin | 9900 | €311,856 | €348,145 | +€36,289 | +11.6% |
| Operating profit (loss) | 9901 | €38,065 | €24,101 | -€13,964 | -36.7% |
| Financial income | 75/76B | €5,162 | €3,831 | -€1,331 | -25.8% |
| Recurring financial income | 75 | €5,162 | €3,831 | -€1,331 | -25.8% |
| Financial charges | 65/66B | €8,369 | €7,048 | -€1,321 | -15.8% |
| Recurring financial charges | 65 | €8,369 | €7,048 | -€1,321 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €34,858 | €20,884 | -€13,974 | -40.1% |
| Income taxes | 67/77 | €17,197 | €23,093 | +€5,896 | +34.3% |
| Profit (loss) for the period | 9904 | €17,661 | -€2,210 | -€19,870 | |
| Transfer from tax-exempt reserves | 789 | €42,434 | €42,434 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,095 | €40,224 | -€19,870 | -33.1% |
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.