joehoe.: 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.
joehoe.
Largest movements
- Financial fixed assets +€2.2m
up €2.2m (+134.7%), from €1.7m to €3.9m
- Receivables within one year -€53,713
down €53,713 (-31.9%), from €168,362 to €114,650
of which Trade receivables: -€54,668
- Debts after one year +€1.5m
up €1.5m (+137.9%), from €1.1m to €2.6m
of which Financial debts: +€1.5m
- Other debts +€380,000
new in 2025: €380,000
- Current portion of long-term debt +€251,898
up €251,898 (+158.5%), from €158,944 to €410,842
- Accrued charges and deferred income +€48,497
up €48,497 (+106.3%), from €45,640 to €94,136
- Financial income +€533,325
up €533,325 (+55348.8%), from €964 to €534,288
- Gross operating margin -€147,270
down €147,270, from €94,866 to -€52,404
- Financial charges +€63,357
up €63,357 (+111.2%), from €56,993 to €120,350
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 | €1,870,460 | €4,038,049 | +€2.2m | +115.9% |
| Fixed assets | 21/28 | €1,658,333 | €3,891,666 | +€2.2m | +134.7% |
| Financial fixed assets | 28 | €1,658,333 | €3,891,666 | +€2.2m | +134.7% |
| Current assets | 29/58 | €212,126 | €146,383 | -€65,743 | -31.0% |
| Amounts receivable within one year | 40/41 | €168,362 | €114,650 | -€53,713 | -31.9% |
| Trade receivables | 40 | €72,818 | €18,150 | -€54,668 | -75.1% |
| Other amounts receivable | 41 | €95,544 | €96,500 | +€955 | +1.0% |
| Cash at bank and in hand | 54/58 | €43,728 | €30,211 | -€13,517 | -30.9% |
| Deferred charges and accrued income | 490/1 | €36 | €1,522 | +€1,486 | +4077.9% |
| Total equity and liabilities | 10/49 | €1,870,460 | €4,038,049 | +€2.2m | +115.9% |
| Equity | 10/15 | €513,880 | €494,895 | -€18,985 | -3.7% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €438,880 | €419,895 | -€18,985 | -4.3% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €431,380 | €412,395 | -€18,985 | -4.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,356,580 | €3,543,155 | +€2.2m | +161.2% |
| Amounts payable after more than one year | 17 | €1,104,056 | €2,626,547 | +€1.5m | +137.9% |
| Financial debts | 170/4 | €1,104,056 | €2,626,547 | +€1.5m | +137.9% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €206,884 | €822,471 | +€615,587 | +297.6% |
| Current portion of amounts payable after more than one year | 42 | €158,944 | €410,842 | +€251,898 | +158.5% |
| Trade debts | 44 | €45,796 | €27,141 | -€18,655 | -40.7% |
| Suppliers | 440/4 | €45,796 | €27,141 | -€18,655 | -40.7% |
| Taxes, remuneration and social security | 45 | €2,144 | €4,488 | +€2,344 | +109.3% |
| Taxes | 450/3 | €2,144 | €4,488 | +€2,344 | +109.3% |
| Other amounts payable | 47/48 | - | €380,000 | +€380,000 | |
| Accrued charges and deferred income | 492/3 | €45,640 | €94,136 | +€48,497 | +106.3% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €94,866 | -€52,404 | -€147,270 | |
| Operating profit (loss) | 9901 | €94,361 | -€52,924 | -€147,284 | |
| Financial income | 75/76B | €964 | €534,288 | +€533,325 | +55348.8% |
| Recurring financial income | 75 | €964 | €534,288 | +€533,325 | +55348.8% |
| Financial charges | 65/66B | €56,993 | €120,350 | +€63,357 | +111.2% |
| Recurring financial charges | 65 | €56,993 | €120,350 | +€63,357 | +111.2% |
| Profit (loss) for the period before taxes | 9903 | €38,331 | €361,015 | +€322,683 | +841.8% |
| Profit (loss) for the period | 9904 | €38,331 | €361,015 | +€322,683 | +841.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,331 | €361,015 | +€322,683 | +841.8% |
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 10 October 2026 via checked.be.