JOE DESIGN STUDIO: 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.
JOE DESIGN STUDIO
Largest movements
- Current investments +€115,254
new in 2025: €115,254
- Cash -€63,418
down €63,418 (-63.5%), from €99,949 to €36,531
mainly Current investments (-€115,254) and Contributions, distributions and other (-€15,000)
- Tangible fixed assets +€7,039
up €7,039 (+188%), from €3,740 to €10,778
of which Furniture and vehicles: +€7,039
- Receivables within one year -€6,634
down €6,634 (-22.0%), from €30,156 to €23,522
of which Trade receivables: -€6,309
- Reserves +€51,059
up €51,059 (+67.5%), from €75,636 to €126,695
- Other debts +€14,865
up €14,865 (+45.2%), from €32,916 to €47,781
- Tax, wage and social debts -€10,592
down €10,592 (-51.7%), from €20,505 to €9,913
- Gross operating margin +€25,144
up €25,144 (+41.9%), from €60,070 to €85,214
- Taxes +€4,913
up €4,913 (+41.3%), from €11,890 to €16,803
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 | €138,168 | €192,040 | +€53,872 | +39.0% |
| Fixed assets | 21/28 | €3,890 | €10,778 | +€6,889 | +177% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €3,740 | €10,778 | +€7,039 | +188% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,740 | €10,778 | +€7,039 | +188% |
| Financial fixed assets | 28 | €150 | €0 | -€150 | -100% |
| Current assets | 29/58 | €134,279 | €181,262 | +€46,983 | +35.0% |
| Amounts receivable within one year | 40/41 | €30,156 | €23,522 | -€6,634 | -22.0% |
| Trade receivables | 40 | €28,838 | €22,529 | -€6,309 | -21.9% |
| Other amounts receivable | 41 | €1,317 | €993 | -€325 | -24.7% |
| Current investments | 50/53 | - | €115,254 | +€115,254 | |
| Cash at bank and in hand | 54/58 | €99,949 | €36,531 | -€63,418 | -63.5% |
| Deferred charges and accrued income | 490/1 | €4,174 | €5,955 | +€1,781 | +42.7% |
| Total equity and liabilities | 10/49 | €138,168 | €192,040 | +€53,872 | +39.0% |
| Equity | 10/15 | €78,136 | €129,195 | +€51,059 | +65.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €75,636 | €126,695 | +€51,059 | +67.5% |
| Distributable reserves | 133 | €75,636 | €126,695 | +€51,059 | +67.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €60,032 | €62,845 | +€2,813 | +4.7% |
| Amounts payable within one year | 42/48 | €59,268 | €61,747 | +€2,479 | +4.2% |
| Financial debts | 43 | €1,118 | €754 | -€363 | -32.5% |
| Credit institutions | 430/8 | €1,118 | €754 | -€363 | -32.5% |
| Trade debts | 44 | €4,729 | €3,299 | -€1,431 | -30.2% |
| Suppliers | 440/4 | €4,729 | €3,299 | -€1,431 | -30.2% |
| Taxes, remuneration and social security | 45 | €20,505 | €9,913 | -€10,592 | -51.7% |
| Taxes | 450/3 | €20,505 | €9,913 | -€10,592 | -51.7% |
| Other amounts payable | 47/48 | €32,916 | €47,781 | +€14,865 | +45.2% |
| Accrued charges and deferred income | 492/3 | €764 | €1,098 | +€334 | +43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,453 | €2,329 | -€123 | -5.0% |
| Other operating charges | 640/8 | €892 | €949 | +€56 | +6.3% |
| Gross operating margin | 9900 | €60,070 | €85,214 | +€25,144 | +41.9% |
| Operating profit (loss) | 9901 | €56,725 | €81,936 | +€25,211 | +44.4% |
| Financial income | 75/76B | €385 | €1,170 | +€785 | +204% |
| Recurring financial income | 75 | €385 | €1,170 | +€785 | +204% |
| Financial charges | 65/66B | €227 | €244 | +€17 | +7.4% |
| Recurring financial charges | 65 | €227 | €244 | +€17 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €56,883 | €82,862 | +€25,978 | +45.7% |
| Income taxes | 67/77 | €11,890 | €16,803 | +€4,913 | +41.3% |
| Profit (loss) for the period | 9904 | €44,994 | €66,059 | +€21,065 | +46.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,994 | €66,059 | +€21,065 | +46.8% |
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 21 October 2026 via checked.be.