Joint Dynamics: 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.
Joint Dynamics
Largest movements
- Current investments +€105,069
up €105,069 (+12.2%), from €864,640 to €969,709
- Cash +€38,750
up €38,750 (+21.7%), from €178,592 to €217,342
mainly Net result for the year (+€231,804) and Other debts (+€75,020)
- Receivables within one year -€36,355
down €36,355 (-31.8%), from €114,447 to €78,092
- Other debts +€75,020
up €75,020 (+64.7%), from €115,988 to €191,008
- Reserves +€51,400
up €51,400 (+5.2%), from €984,460 to €1.0m
of which Distributable reserves: +€53,260
- Tax, wage and social debts -€33,783
down €33,783 (-41.3%), from €81,873 to €48,090
- Financial income +€34,686
up €34,686 (+298.0%), from €11,639 to €46,325
- Gross operating margin +€18,534
up €18,534 (+6.2%), from €298,012 to €316,546
- Taxes +€18,509
up €18,509 (+19.9%), from €93,024 to €111,533
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 | €1,197,202 | €1,291,690 | +€94,488 | +7.9% |
| Fixed assets | 21/28 | €32,006 | €20,461 | -€11,546 | -36.1% |
| Tangible fixed assets | 22/27 | €32,006 | €20,461 | -€11,546 | -36.1% |
| Plant, machinery and equipment | 23 | €5,854 | €7,337 | +€1,484 | +25.3% |
| Furniture and vehicles | 24 | €11,869 | €1,747 | -€10,122 | -85.3% |
| Other tangible fixed assets | 26 | €14,284 | €11,376 | -€2,908 | -20.4% |
| Current assets | 29/58 | €1,165,196 | €1,271,229 | +€106,034 | +9.1% |
| Amounts receivable within one year | 40/41 | €114,447 | €78,092 | -€36,355 | -31.8% |
| Trade receivables | 40 | €114,447 | €78,092 | -€36,355 | -31.8% |
| Current investments | 50/53 | €864,640 | €969,709 | +€105,069 | +12.2% |
| Cash at bank and in hand | 54/58 | €178,592 | €217,342 | +€38,750 | +21.7% |
| Deferred charges and accrued income | 490/1 | €7,517 | €6,087 | -€1,430 | -19.0% |
| Total equity and liabilities | 10/49 | €1,197,202 | €1,291,690 | +€94,488 | +7.9% |
| Equity | 10/15 | €997,854 | €1,049,358 | +€51,504 | +5.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €984,460 | €1,035,860 | +€51,400 | +5.2% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €982,600 | €1,035,860 | +€53,260 | +5.4% |
| Profit (loss) carried forward | 14 | €7,194 | €7,298 | +€104 | +1.4% |
| Amounts payable | 17/49 | €199,348 | €242,332 | +€42,984 | +21.6% |
| Amounts payable within one year | 42/48 | €199,348 | €242,332 | +€42,984 | +21.6% |
| Trade debts | 44 | €1,487 | €3,234 | +€1,746 | +117.4% |
| Suppliers | 440/4 | €1,487 | €3,234 | +€1,746 | +117.4% |
| Taxes, remuneration and social security | 45 | €81,873 | €48,090 | -€33,783 | -41.3% |
| Taxes | 450/3 | €81,873 | €48,090 | -€33,783 | -41.3% |
| Other amounts payable | 47/48 | €115,988 | €191,008 | +€75,020 | +64.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,038 | €14,773 | +€2,736 | +22.7% |
| Other operating charges | 640/8 | €1,854 | €2,232 | +€378 | +20.4% |
| Gross operating margin | 9900 | €298,012 | €316,546 | +€18,534 | +6.2% |
| Operating profit (loss) | 9901 | €284,121 | €299,541 | +€15,420 | +5.4% |
| Financial income | 75/76B | €11,639 | €46,325 | +€34,686 | +298.0% |
| Recurring financial income | 75 | €11,639 | €46,325 | +€34,686 | +298.0% |
| Financial charges | 65/66B | €817 | €2,529 | +€1,712 | +209.6% |
| Recurring financial charges | 65 | €817 | €2,529 | +€1,712 | +209.6% |
| Profit (loss) for the period before taxes | 9903 | €294,943 | €343,337 | +€48,394 | +16.4% |
| Income taxes | 67/77 | €93,024 | €111,533 | +€18,509 | +19.9% |
| Profit (loss) for the period | 9904 | €201,919 | €231,804 | +€29,885 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €201,919 | €231,804 | +€29,885 | +14.8% |
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 11 October 2026 via checked.be.