Jogrex: 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.
Jogrex
Largest movements
- Stocks and contracts +€1.2m
up €1.2m (+114%), from €1.1m to €2.3m
- Tangible fixed assets +€705,087
up €705,087 (+118%), from €599,906 to €1.3m
of which Land and buildings: +€593,874
- Cash -€400,348
down €400,348 (-42.7%), from €938,545 to €538,197
mainly Stocks and contracts (-€1.2m) and Investment in fixed assets (net) (-€766,872)
- Receivables within one year -€139,442
down €139,442 (-7.9%), from €1.8m to €1.6m
of which Trade receivables: -€189,217
- Other debts +€647,019
up €647,019 (+316%), from €204,471 to €851,490
- Debts after one year +€587,979
up €587,979 (+613%), from €95,951 to €683,931
- Current portion of long-term debt +€143,279
up €143,279 (+377%), from €37,962 to €181,241
- Accrued charges and deferred income -€91,795
down €91,795 (-52.0%), from €176,491 to €84,696
- Financial charges +€164,838
up €164,838 (+202%), from €81,625 to €246,463
- Gross operating margin +€58,413
up €58,413 (+12.6%), from €464,573 to €522,986
- Financial income +€45,479
up €45,479 (+101%), from €44,942 to €90,421
- Taxes -€19,880
down €19,880 (-31.1%), from €63,958 to €44,077
- Staff costs -€18,063
down €18,063 (-11.6%), from €156,382 to €138,319
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 | €4,429,686 | €5,787,547 | +€1.4m | +30.7% |
| Fixed assets | 21/28 | €600,284 | €1,305,371 | +€705,087 | +117% |
| Tangible fixed assets | 22/27 | €599,906 | €1,304,993 | +€705,087 | +118% |
| Land and buildings | 22 | €584,526 | €1,178,400 | +€593,874 | +102% |
| Plant, machinery and equipment | 23 | €10,210 | €123,992 | +€113,782 | +1,114% |
| Furniture and vehicles | 24 | €5,170 | €2,602 | -€2,568 | -49.7% |
| Financial fixed assets | 28 | €378 | €378 | = | 0.0% |
| Current assets | 29/58 | €3,829,402 | €4,482,175 | +€652,774 | +17.0% |
| Stocks and contracts in progress | 3 | €1,065,000 | €2,284,359 | +€1.2m | +114% |
| Stocks | 30/36 | €1,065,000 | €2,284,359 | +€1.2m | +114% |
| Amounts receivable within one year | 40/41 | €1,757,253 | €1,617,811 | -€139,442 | -7.9% |
| Trade receivables | 40 | €1,715,407 | €1,526,190 | -€189,217 | -11.0% |
| Other amounts receivable | 41 | €41,846 | €91,622 | +€49,776 | +119% |
| Cash at bank and in hand | 54/58 | €938,545 | €538,197 | -€400,348 | -42.7% |
| Deferred charges and accrued income | 490/1 | €68,604 | €41,808 | -€26,796 | -39.1% |
| Total equity and liabilities | 10/49 | €4,429,686 | €5,787,547 | +€1.4m | +30.7% |
| Equity | 10/15 | €3,698,317 | €3,739,518 | +€41,201 | +1.1% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Capital | 10 | €198,315 | €198,315 | = | 0.0% |
| Issued capital | 100 | €198,315 | €198,315 | = | 0.0% |
| Reserves | 13 | €3,467,152 | €3,508,409 | +€41,257 | +1.2% |
| Non-distributable reserves | 130/1 | €19,831 | €19,831 | = | 0.0% |
| Legal reserve | 130 | €19,831 | €19,831 | = | 0.0% |
| Distributable reserves | 133 | €3,447,320 | €3,488,577 | +€41,257 | +1.2% |
| Investment grants | 15 | €32,850 | €32,794 | -€56 | -0.2% |
| Amounts payable | 17/49 | €731,369 | €2,048,029 | +€1.3m | +180% |
| Amounts payable after more than one year | 17 | €95,951 | €683,931 | +€587,979 | +613% |
| Financial debts | 170/4 | €95,951 | €683,931 | +€587,979 | +613% |
| Amounts payable within one year | 42/48 | €458,927 | €1,279,402 | +€820,475 | +179% |
| Current portion of amounts payable after more than one year | 42 | €37,962 | €181,241 | +€143,279 | +377% |
| Trade debts | 44 | €188,990 | €213,392 | +€24,402 | +12.9% |
| Suppliers | 440/4 | €188,990 | €213,392 | +€24,402 | +12.9% |
| Taxes, remuneration and social security | 45 | €27,504 | €33,278 | +€5,774 | +21.0% |
| Taxes | 450/3 | €13,841 | €17,934 | +€4,093 | +29.6% |
| Remuneration and social security | 454/9 | €13,663 | €15,344 | +€1,681 | +12.3% |
| Other amounts payable | 47/48 | €204,471 | €851,490 | +€647,019 | +316% |
| Accrued charges and deferred income | 492/3 | €176,491 | €84,696 | -€91,795 | -52.0% |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Remuneration, social security and pensions | 62 | €156,382 | €138,319 | -€18,063 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,878 | €61,785 | +€14,907 | +31.8% |
| Other operating charges | 640/8 | €29,452 | €31,506 | +€2,053 | +7.0% |
| Gross operating margin | 9900 | €464,573 | €522,986 | +€58,413 | +12.6% |
| Operating profit (loss) | 9901 | €231,861 | €291,376 | +€59,515 | +25.7% |
| Financial income | 75/76B | €44,942 | €90,421 | +€45,479 | +101% |
| Recurring financial income | 75 | €44,942 | €90,421 | +€45,479 | +101% |
| Financial charges | 65/66B | €81,625 | €246,463 | +€164,838 | +202% |
| Recurring financial charges | 65 | €81,625 | €246,463 | +€164,838 | +202% |
| Profit (loss) for the period before taxes | 9903 | €195,179 | €135,334 | -€59,844 | -30.7% |
| Income taxes | 67/77 | €63,958 | €44,077 | -€19,880 | -31.1% |
| Profit (loss) for the period | 9904 | €131,221 | €91,257 | -€39,964 | -30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €131,221 | €91,257 | -€39,964 | -30.5% |
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 13 October 2026 via checked.be.