JOESI: 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.
JOESI
Largest movements
- Current investments -€575,236
down €575,236 (-100%), from €575,236 to €0
- Cash +€46,793
up €46,793 (+59.5%), from €78,668 to €125,460
mainly Current investments (+€575,236) and Net result for the year (+€78,300)
- Tangible fixed assets -€8,214
down €8,214 (-27.5%), from €29,893 to €21,679
of which Leasing and similar rights: -€9,937
- Receivables within one year +€7,051
up €7,051 (+38.2%), from €18,460 to €25,511
of which Other amounts receivable: +€6,218
- Reserves -€421,700
down €421,700 (-92.3%), from €456,826 to €35,126
- Other debts -€90,617
down €90,617 (-92.8%), from €97,599 to €6,981
- Tax, wage and social debts -€15,961
down €15,961 (-14.0%), from €113,907 to €97,945
of which Taxes: -€15,943
- Accrued charges and deferred income +€10,756
up €10,756, from €0 to €10,756
- Debts after one year -€9,911
down €9,911 (-42.8%), from €23,135 to €13,225
- Gross operating margin -€384,285
down €384,285 (-81.2%), from €473,166 to €88,881
- Taxes -€89,027
down €89,027 (-81.0%), from €109,872 to €20,846
- Financial income +€33,152
up €33,152 (+3,185%), from €1,041 to €34,193
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 | €704,725 | €179,150 | -€525,575 | -74.6% |
| Fixed assets | 21/28 | €29,893 | €21,679 | -€8,214 | -27.5% |
| Tangible fixed assets | 22/27 | €29,893 | €21,679 | -€8,214 | -27.5% |
| Furniture and vehicles | 24 | - | €1,723 | +€1,723 | |
| Leasing and similar rights | 25 | €29,893 | €19,956 | -€9,937 | -33.2% |
| Current assets | 29/58 | €674,831 | €157,470 | -€517,361 | -76.7% |
| Amounts receivable within one year | 40/41 | €18,460 | €25,511 | +€7,051 | +38.2% |
| Trade receivables | 40 | €18,382 | €19,216 | +€834 | +4.5% |
| Other amounts receivable | 41 | €77 | €6,295 | +€6,218 | +8,049% |
| Current investments | 50/53 | €575,236 | €0 | -€575,236 | -100% |
| Cash at bank and in hand | 54/58 | €78,668 | €125,460 | +€46,793 | +59.5% |
| Deferred charges and accrued income | 490/1 | €2,468 | €6,499 | +€4,032 | +163% |
| Total equity and liabilities | 10/49 | €704,725 | €179,150 | -€525,575 | -74.6% |
| Equity | 10/15 | €459,326 | €37,626 | -€421,700 | -91.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €456,826 | €35,126 | -€421,700 | -92.3% |
| Distributable reserves | 133 | €456,826 | €35,126 | -€421,700 | -92.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €245,399 | €141,524 | -€103,875 | -42.3% |
| Amounts payable after more than one year | 17 | €23,135 | €13,225 | -€9,911 | -42.8% |
| Financial debts | 170/4 | €23,135 | €13,225 | -€9,911 | -42.8% |
| Amounts payable within one year | 42/48 | €222,264 | €117,543 | -€104,721 | -47.1% |
| Current portion of amounts payable after more than one year | 42 | €9,487 | €9,911 | +€424 | +4.5% |
| Financial debts | 43 | €399 | €635 | +€235 | +58.8% |
| Credit institutions | 430/8 | €399 | €635 | +€235 | +58.8% |
| Trade debts | 44 | €872 | €2,071 | +€1,199 | +137% |
| Suppliers | 440/4 | €872 | €2,071 | +€1,199 | +137% |
| Taxes, remuneration and social security | 45 | €113,907 | €97,945 | -€15,961 | -14.0% |
| Taxes | 450/3 | €113,889 | €97,945 | -€15,943 | -14.0% |
| Remuneration and social security | 454/9 | €18 | €0 | -€18 | -100% |
| Other amounts payable | 47/48 | €97,599 | €6,981 | -€90,617 | -92.8% |
| Accrued charges and deferred income | 492/3 | €0 | €10,756 | +€10,756 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,937 | €10,333 | +€396 | +4.0% |
| Other operating charges | 640/8 | €2,220 | €1,853 | -€367 | -16.5% |
| Gross operating margin | 9900 | €473,166 | €88,881 | -€384,285 | -81.2% |
| Operating profit (loss) | 9901 | €461,009 | €76,695 | -€384,314 | -83.4% |
| Financial income | 75/76B | €1,041 | €34,193 | +€33,152 | +3,185% |
| Recurring financial income | 75 | €1,041 | €34,193 | +€33,152 | +3,185% |
| Financial charges | 65/66B | €8,189 | €11,742 | +€3,553 | +43.4% |
| Recurring financial charges | 65 | €8,189 | €11,742 | +€3,553 | +43.4% |
| Profit (loss) for the period before taxes | 9903 | €453,861 | €99,146 | -€354,715 | -78.2% |
| Income taxes | 67/77 | €109,872 | €20,846 | -€89,027 | -81.0% |
| Profit (loss) for the period | 9904 | €343,988 | €78,300 | -€265,688 | -77.2% |
| Profit (loss) for the period to be appropriated | 9905 | €343,988 | €78,300 | -€265,688 | -77.2% |
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 30 October 2026 via checked.be.