JOGECO: 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.
JOGECO
Largest movements
- Financial fixed assets +€202,004
new in 2025: €202,004
- Receivables within one year +€46,329
up €46,329 (+113.9%), from €40,675 to €87,005
of which Other amounts receivable: +€50,010
- Cash -€23,426
down €23,426 (-28.6%), from €81,929 to €58,504
mainly Investment in fixed assets (net) (-€202,004) and Receivables within one year (-€46,329)
- Short-term financial debts +€100,000
new in 2025: €100,000
- Debts after one year +€76,093
up €76,093 (+38.6%), from €197,171 to €273,264
- Reserves +€40,039
up €40,039 (+21.4%), from €186,736 to €226,775
of which Distributable reserves: +€40,039
- Current portion of long-term debt +€9,216
up €9,216 (+77.8%), from €11,840 to €21,056
- Taxes +€3,751
up €3,751 (+27.5%), from €13,639 to €17,390
- Financial charges +€2,784
up €2,784 (+31.0%), from €8,978 to €11,762
- Gross operating margin +€1,040
up €1,040 (+1.5%), from €69,259 to €70,299
- Depreciation -€1,025
down €1,025 (-45.9%), from €2,231 to €1,206
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 | €424,780 | €649,586 | +€224,806 | +52.9% |
| Fixed assets | 21/28 | €301,238 | €502,036 | +€200,798 | +66.7% |
| Tangible fixed assets | 22/27 | €301,238 | €300,032 | -€1,206 | -0.4% |
| Land and buildings | 22 | €299,769 | €299,769 | = | 0.0% |
| Furniture and vehicles | 24 | €1,113 | €263 | -€850 | -76.4% |
| Other tangible fixed assets | 26 | €356 | €0 | -€356 | -100.0% |
| Financial fixed assets | 28 | - | €202,004 | +€202,004 | |
| Current assets | 29/58 | €123,542 | €147,550 | +€24,008 | +19.4% |
| Amounts receivable after more than one year | 29 | €0 | €0 | = | |
| Other amounts receivable | 291 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €40,675 | €87,005 | +€46,329 | +113.9% |
| Trade receivables | 40 | €25,508 | €21,827 | -€3,681 | -14.4% |
| Other amounts receivable | 41 | €15,168 | €65,178 | +€50,010 | +329.7% |
| Cash at bank and in hand | 54/58 | €81,929 | €58,504 | -€23,426 | -28.6% |
| Deferred charges and accrued income | 490/1 | €938 | €2,042 | +€1,105 | +117.8% |
| Total equity and liabilities | 10/49 | €424,780 | €649,586 | +€224,806 | +52.9% |
| Equity | 10/15 | €192,936 | €232,975 | +€40,039 | +20.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €186,736 | €226,775 | +€40,039 | +21.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €186,736 | €226,775 | +€40,039 | +21.4% |
| Amounts payable | 17/49 | €231,844 | €416,611 | +€184,767 | +79.7% |
| Amounts payable after more than one year | 17 | €197,171 | €273,264 | +€76,093 | +38.6% |
| Financial debts | 170/4 | €197,171 | €273,264 | +€76,093 | +38.6% |
| Amounts payable within one year | 42/48 | €33,980 | €142,438 | +€108,459 | +319.2% |
| Current portion of amounts payable after more than one year | 42 | €11,840 | €21,056 | +€9,216 | +77.8% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €3,539 | €555 | -€2,984 | -84.3% |
| Suppliers | 440/4 | €3,539 | €555 | -€2,984 | -84.3% |
| Taxes, remuneration and social security | 45 | €16,938 | €18,904 | +€1,966 | +11.6% |
| Taxes | 450/3 | €16,938 | €18,904 | +€1,966 | +11.6% |
| Other amounts payable | 47/48 | €1,663 | €1,923 | +€260 | +15.7% |
| Accrued charges and deferred income | 492/3 | €693 | €909 | +€216 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,231 | €1,206 | -€1,025 | -45.9% |
| Other operating charges | 640/8 | €1,656 | €1,828 | +€172 | +10.4% |
| Gross operating margin | 9900 | €69,259 | €70,299 | +€1,040 | +1.5% |
| Operating profit (loss) | 9901 | €65,372 | €67,265 | +€1,893 | +2.9% |
| Financial income | 75/76B | €1,328 | €1,926 | +€599 | +45.1% |
| Recurring financial income | 75 | €1,328 | €1,926 | +€599 | +45.1% |
| Financial charges | 65/66B | €8,978 | €11,762 | +€2,784 | +31.0% |
| Recurring financial charges | 65 | €8,978 | €11,762 | +€2,784 | +31.0% |
| Profit (loss) for the period before taxes | 9903 | €57,722 | €57,429 | -€293 | -0.5% |
| Income taxes | 67/77 | €13,639 | €17,390 | +€3,751 | +27.5% |
| Profit (loss) for the period | 9904 | €44,083 | €40,039 | -€4,044 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,083 | €40,039 | -€4,044 | -9.2% |
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 2 October 2026 via checked.be.