JOE-TRADING: 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-TRADING
Largest movements
- Tangible fixed assets -€12,942
down €12,942 (-67.5%), from €19,183 to €6,241
of which Furniture and vehicles: -€6,915
- Cash -€4,146
down €4,146 (-63.6%), from €6,524 to €2,378
mainly Debts after one year (-€7,751) and Net result for the year (-€5,063)
- Intangible fixed assets -€2,500
down €2,500 (-16.0%), from €15,644 to €13,144
- Stocks and contracts +€915
up €915 (+24.7%), from €3,700 to €4,615
- Deferred charges and accrued income +€773
up €773 (+544%), from €142 to €915
- Debts after one year -€7,751
down €7,751 (-42.0%), from €18,464 to €10,713
- Profit (loss) carried forward -€5,063
down €5,063 (-11.2%), from -€45,388 to -€50,451
- Other debts -€2,885
down €2,885 (-14.8%), from €19,517 to €16,633
- Tax, wage and social debts -€1,230
down €1,230 (-16.1%), from €7,622 to €6,391
of which Taxes: -€1,130
- Gross operating margin -€10,984
down €10,984 (-40.4%), from €27,188 to €16,204
- Other operating charges -€2,867
down €2,867 (-38.6%), from €7,422 to €4,555
- Depreciation -€2,245
down €2,245 (-12.7%), from €17,687 to €15,442
- Financial charges +€848
up €848 (+154%), from €550 to €1,397
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 | €56,104 | €38,952 | -€17,152 | -30.6% |
| Fixed assets | 21/28 | €45,532 | €30,115 | -€15,417 | -33.9% |
| Intangible fixed assets | 21 | €15,644 | €13,144 | -€2,500 | -16.0% |
| Tangible fixed assets | 22/27 | €19,183 | €6,241 | -€12,942 | -67.5% |
| Plant, machinery and equipment | 23 | €2,670 | €1,388 | -€1,282 | -48.0% |
| Furniture and vehicles | 24 | €10,489 | €3,573 | -€6,915 | -65.9% |
| Leasing and similar rights | 25 | €5,005 | €963 | -€4,042 | -80.8% |
| Other tangible fixed assets | 26 | €1,019 | €316 | -€703 | -69.0% |
| Financial fixed assets | 28 | €10,705 | €10,730 | +€25 | +0.2% |
| Current assets | 29/58 | €10,572 | €8,837 | -€1,735 | -16.4% |
| Stocks and contracts in progress | 3 | €3,700 | €4,615 | +€915 | +24.7% |
| Stocks | 30/36 | €3,700 | €4,615 | +€915 | +24.7% |
| Amounts receivable within one year | 40/41 | €205 | €929 | +€723 | +352% |
| Trade receivables | 40 | €0 | €297 | +€297 | |
| Other amounts receivable | 41 | €205 | €632 | +€426 | +207% |
| Current investments | 50/53 | €0 | €1 | +€0 | +111% |
| Cash at bank and in hand | 54/58 | €6,524 | €2,378 | -€4,146 | -63.6% |
| Deferred charges and accrued income | 490/1 | €142 | €915 | +€773 | +544% |
| Total equity and liabilities | 10/49 | €56,104 | €38,952 | -€17,152 | -30.6% |
| Equity | 10/15 | -€26,413 | -€31,476 | -€5,063 | -19.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €375 | €375 | = | 0.0% |
| Distributable reserves | 133 | €375 | €375 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,388 | -€50,451 | -€5,063 | -11.2% |
| Amounts payable | 17/49 | €82,518 | €70,428 | -€12,089 | -14.7% |
| Amounts payable after more than one year | 17 | €18,464 | €10,713 | -€7,751 | -42.0% |
| Financial debts | 170/4 | €18,464 | €10,713 | -€7,751 | -42.0% |
| Amounts payable within one year | 42/48 | €64,054 | €59,716 | -€4,338 | -6.8% |
| Trade debts | 44 | €36,915 | €36,692 | -€223 | -0.6% |
| Suppliers | 440/4 | €36,915 | €36,692 | -€223 | -0.6% |
| Taxes, remuneration and social security | 45 | €7,622 | €6,391 | -€1,230 | -16.1% |
| Taxes | 450/3 | €5,222 | €4,091 | -€1,130 | -21.6% |
| Remuneration and social security | 454/9 | €2,400 | €2,300 | -€100 | -4.2% |
| Other amounts payable | 47/48 | €19,517 | €16,633 | -€2,885 | -14.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,687 | €15,442 | -€2,245 | -12.7% |
| Other operating charges | 640/8 | €7,422 | €4,555 | -€2,867 | -38.6% |
| Gross operating margin | 9900 | €27,188 | €16,204 | -€10,984 | -40.4% |
| Operating profit (loss) | 9901 | €2,080 | -€3,793 | -€5,872 | |
| Financial income | 75/76B | €34 | €15 | -€19 | -57.0% |
| Recurring financial income | 75 | €34 | €15 | -€19 | -57.0% |
| Financial charges | 65/66B | €550 | €1,397 | +€848 | +154% |
| Recurring financial charges | 65 | €550 | €1,397 | +€848 | +154% |
| Profit (loss) for the period before taxes | 9903 | €1,564 | -€5,175 | -€6,740 | |
| Income taxes | 67/77 | €134 | -€113 | -€247 | |
| Profit (loss) for the period | 9904 | €1,430 | -€5,063 | -€6,493 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,430 | -€5,063 | -€6,493 |
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 1 November 2026 via checked.be.