JOF Construct: what changed
Two fiscal 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.
JOF Construct
Largest movements
- Cash -€6,776
down €6,776 (-23.7%), from €28,577 to €21,801
mainly Net result for the year (-€7,684) and Receivables within one year (-€615)
- Profit (loss) carried forward -€7,684
down €7,684 (-305.7%), from -€2,514 to -€10,198
- Gross operating margin -€1,714
down €1,714 (-124.3%), from -€1,379 to -€3,093
- Financial charges +€941
up €941 (+931.2%), from €101 to €1,042
of which Financial charges: +€891
- Depreciation +€343
up €343 (+148.5%), from €231 to €573
- Other operating charges +€83
up €83 (+10.3%), from €803 to €886
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 | €265,458 | €258,724 | -€6,734 | -2.5% |
| Formation expenses | 20 | €2,636 | €2,063 | -€573 | -21.8% |
| Current assets | 29/58 | €262,822 | €256,661 | -€6,161 | -2.3% |
| Stocks and contracts in progress | 3 | €230,075 | €230,075 | = | 0.0% |
| Stocks | 30/36 | €230,075 | €230,075 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,170 | €4,785 | +€615 | +14.8% |
| Other amounts receivable | 41 | €4,170 | €4,785 | +€615 | +14.8% |
| Cash at bank and in hand | 54/58 | €28,577 | €21,801 | -€6,776 | -23.7% |
| Total equity and liabilities | 10/49 | €265,458 | €258,724 | -€6,734 | -2.5% |
| Equity | 10/15 | €234,986 | €227,302 | -€7,684 | -3.3% |
| Contributions | 10/11 | €237,500 | €237,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,514 | -€10,198 | -€7,684 | -305.7% |
| Amounts payable | 17/49 | €30,472 | €31,422 | +€950 | +3.1% |
| Amounts payable within one year | 42/48 | €30,472 | €30,536 | +€64 | +0.2% |
| Financial debts | 43 | €25,000 | €25,000 | = | 0.0% |
| Other loans | 439 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €5,472 | €5,536 | +€64 | +1.2% |
| Suppliers | 440/4 | €5,472 | €5,536 | +€64 | +1.2% |
| Accrued charges and deferred income | 492/3 | - | €886 | +€886 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €231 | €573 | +€343 | +148.5% |
| Other operating charges | 640/8 | €803 | €886 | +€83 | +10.3% |
| Non-recurring operating charges | 66A | - | €2,090 | +€2,090 | |
| Gross operating margin | 9900 | -€1,379 | -€3,093 | -€1,714 | -124.3% |
| Operating profit (loss) | 9901 | -€2,413 | -€6,643 | -€4,230 | -175.3% |
| Financial charges | 65/66B | €101 | €1,042 | +€941 | +931.2% |
| Recurring financial charges | 65 | €101 | €992 | +€891 | +881.7% |
| Non-recurring financial charges | 66B | - | €50 | +€50 | |
| Profit (loss) for the period before taxes | 9903 | -€2,514 | -€7,684 | -€5,171 | -205.7% |
| Profit (loss) for the period | 9904 | -€2,514 | -€7,684 | -€5,171 | -205.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,514 | -€7,684 | -€5,171 | -205.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.