Joeps: 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.
Joeps
Largest movements
- Receivables within one year +€57,656
up €57,656 (+160%), from €35,940 to €93,596
of which Trade receivables: +€57,719
- Tangible fixed assets +€31,352
up €31,352 (+69.9%), from €44,857 to €76,208
of which Plant, machinery and equipment: +€19,719
- Cash +€12,026
up €12,026 (+6.1%), from €197,365 to €209,391
mainly Other debts (+€77,741) and Net result for the year (+€70,186)
- Other debts +€77,741
up €77,741 (+173%), from €44,874 to €122,615
- Reserves +€70,186
up €70,186 (+60.4%), from €116,122 to €186,307
- Profit (loss) carried forward -€50,971
no longer reported in 2025 (was €50,971)
- Trade debts +€36,163
up €36,163 (+236%), from €15,303 to €51,466
- Accrued charges and deferred income -€35,770
no longer reported in 2025 (was €35,770)
- Gross operating margin +€41,304
up €41,304 (+55.9%), from €73,874 to €115,178
- Taxes +€14,632
up €14,632 (+81.8%), from €17,880 to €32,512
- Depreciation +€4,981
up €4,981 (+119%), from €4,179 to €9,160
- Other operating charges +€4,866
up €4,866 (+284%), from €1,715 to €6,581
- Financial income +€3,203
up €3,203 (+313%), from €1,024 to €4,227
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 | €278,723 | €379,196 | +€100,473 | +36.0% |
| Fixed assets | 21/28 | €44,857 | €76,208 | +€31,352 | +69.9% |
| Tangible fixed assets | 22/27 | €44,857 | €76,208 | +€31,352 | +69.9% |
| Land and buildings | 22 | €24,947 | €36,954 | +€12,007 | +48.1% |
| Plant, machinery and equipment | 23 | €18,787 | €38,506 | +€19,719 | +105% |
| Furniture and vehicles | 24 | €1,123 | €749 | -€374 | -33.3% |
| Current assets | 29/58 | €233,866 | €302,988 | +€69,122 | +29.6% |
| Amounts receivable within one year | 40/41 | €35,940 | €93,596 | +€57,656 | +160% |
| Trade receivables | 40 | €30,514 | €88,233 | +€57,719 | +189% |
| Other amounts receivable | 41 | €5,426 | €5,363 | -€63 | -1.2% |
| Cash at bank and in hand | 54/58 | €197,365 | €209,391 | +€12,026 | +6.1% |
| Deferred charges and accrued income | 490/1 | €561 | - | -€561 | |
| Total equity and liabilities | 10/49 | €278,723 | €379,196 | +€100,473 | +36.0% |
| Equity | 10/15 | €171,092 | €190,307 | +€19,215 | +11.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €116,122 | €186,307 | +€70,186 | +60.4% |
| Distributable reserves | 133 | €116,122 | €186,307 | +€70,186 | +60.4% |
| Profit (loss) carried forward | 14 | €50,971 | - | -€50,971 | |
| Amounts payable | 17/49 | €107,630 | €188,889 | +€81,258 | +75.5% |
| Amounts payable within one year | 42/48 | €71,861 | €188,889 | +€117,028 | +163% |
| Trade debts | 44 | €15,303 | €51,466 | +€36,163 | +236% |
| Suppliers | 440/4 | €15,303 | €51,466 | +€36,163 | +236% |
| Taxes, remuneration and social security | 45 | €11,684 | €14,807 | +€3,123 | +26.7% |
| Taxes | 450/3 | €10,684 | €14,807 | +€4,123 | +38.6% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €44,874 | €122,615 | +€77,741 | +173% |
| Accrued charges and deferred income | 492/3 | €35,770 | - | -€35,770 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,179 | €9,160 | +€4,981 | +119% |
| Other operating charges | 640/8 | €1,715 | €6,581 | +€4,866 | +284% |
| Gross operating margin | 9900 | €73,874 | €115,178 | +€41,304 | +55.9% |
| Operating profit (loss) | 9901 | €67,980 | €99,438 | +€31,457 | +46.3% |
| Financial income | 75/76B | €1,024 | €4,227 | +€3,203 | +313% |
| Recurring financial income | 75 | €1,024 | €4,227 | +€3,203 | +313% |
| Financial charges | 65/66B | €154 | €967 | +€814 | +529% |
| Recurring financial charges | 65 | €154 | €967 | +€814 | +529% |
| Profit (loss) for the period before taxes | 9903 | €68,850 | €102,697 | +€33,847 | +49.2% |
| Income taxes | 67/77 | €17,880 | €32,512 | +€14,632 | +81.8% |
| Profit (loss) for the period | 9904 | €50,971 | €70,186 | +€19,215 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €50,971 | €70,186 | +€19,215 | +37.7% |
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 14 October 2026 via checked.be.