JOLINE: 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.
JOLINE
Largest movements
- Tangible fixed assets +€427,887
up €427,887 (+757%), from €56,500 to €484,387
of which Land and buildings: +€434,495
- Cash -€62,859
down €62,859 (-44.9%), from €139,903 to €77,044
- Receivables within one year +€17,130
up €17,130 (+193%), from €8,891 to €26,021
of which Other amounts receivable: +€10,166
- Stocks and contracts +€17,060
up €17,060 (+24.7%), from €69,031 to €86,091
- Debts after one year +€358,374
new in 2025: €358,374
- Other debts +€27,002
up €27,002 (+23.6%), from €114,519 to €141,521
- Current portion of long-term debt +€18,383
new in 2025: €18,383
- Gross operating margin +€48,436
up €48,436 (+30.1%), from €160,862 to €209,298
- Other operating charges +€48,202
up €48,202 (+2,915%), from €1,654 to €49,856
- Staff costs +€22,417
up €22,417 (+24.3%), from €92,119 to €114,536
- Depreciation +€13,298
up €13,298 (+126%), from €10,569 to €23,867
- Financial charges +€11,908
up €11,908 (+120%), from €9,949 to €21,857
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €274,730 | €677,289 | +€402,559 | +147% |
| Fixed assets | 21/28 | €56,605 | €484,492 | +€427,887 | +756% |
| Tangible fixed assets | 22/27 | €56,500 | €484,387 | +€427,887 | +757% |
| Land and buildings | 22 | - | €434,495 | +€434,495 | |
| Plant, machinery and equipment | 23 | €7,072 | €8,772 | +€1,700 | +24.0% |
| Furniture and vehicles | 24 | €48,841 | €41,120 | -€7,721 | -15.8% |
| Other tangible fixed assets | 26 | €587 | - | -€587 | |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €218,125 | €192,797 | -€25,328 | -11.6% |
| Stocks and contracts in progress | 3 | €69,031 | €86,091 | +€17,060 | +24.7% |
| Stocks | 30/36 | €69,031 | €86,091 | +€17,060 | +24.7% |
| Amounts receivable within one year | 40/41 | €8,891 | €26,021 | +€17,130 | +193% |
| Trade receivables | 40 | €8,891 | €15,855 | +€6,964 | +78.3% |
| Other amounts receivable | 41 | - | €10,166 | +€10,166 | |
| Cash at bank and in hand | 54/58 | €139,903 | €77,044 | -€62,859 | -44.9% |
| Deferred charges and accrued income | 490/1 | €300 | €3,641 | +€3,341 | +1,114% |
| Total equity and liabilities | 10/49 | €274,730 | €677,289 | +€402,559 | +147% |
| Equity | 10/15 | €112,581 | €111,360 | -€1,221 | -1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €106,381 | €106,381 | = | 0.0% |
| Non-distributable reserves | 130/1 | €205 | - | -€205 | |
| Reserves not available under the articles | 1311 | €205 | - | -€205 | |
| Distributable reserves | 133 | €106,176 | €106,381 | +€205 | +0.2% |
| Profit (loss) carried forward | 14 | - | -€1,221 | -€1,221 | |
| Amounts payable | 17/49 | €162,149 | €565,929 | +€403,781 | +249% |
| Amounts payable after more than one year | 17 | - | €358,374 | +€358,374 | |
| Financial debts | 170/4 | - | €358,374 | +€358,374 | |
| Amounts payable within one year | 42/48 | €162,149 | €207,555 | +€45,407 | +28.0% |
| Current portion of amounts payable after more than one year | 42 | - | €18,383 | +€18,383 | |
| Trade debts | 44 | €13,903 | €15,436 | +€1,534 | +11.0% |
| Suppliers | 440/4 | €13,903 | €15,436 | +€1,534 | +11.0% |
| Taxes, remuneration and social security | 45 | €33,727 | €32,215 | -€1,512 | -4.5% |
| Taxes | 450/3 | €23,046 | €19,612 | -€3,434 | -14.9% |
| Remuneration and social security | 454/9 | €10,681 | €12,602 | +€1,922 | +18.0% |
| Other amounts payable | 47/48 | €114,519 | €141,521 | +€27,002 | +23.6% |
| Remuneration, social security and pensions | 62 | €92,119 | €114,536 | +€22,417 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,569 | €23,867 | +€13,298 | +126% |
| Other operating charges | 640/8 | €1,654 | €49,856 | +€48,202 | +2,915% |
| Gross operating margin | 9900 | €160,862 | €209,298 | +€48,436 | +30.1% |
| Operating profit (loss) | 9901 | €56,520 | €21,039 | -€35,481 | -62.8% |
| Financial income | 75/76B | €735 | €2,234 | +€1,499 | +204% |
| Recurring financial income | 75 | €735 | €2,234 | +€1,499 | +204% |
| Financial charges | 65/66B | €9,949 | €21,857 | +€11,908 | +120% |
| Recurring financial charges | 65 | €9,949 | €21,857 | +€11,908 | +120% |
| Profit (loss) for the period before taxes | 9903 | €47,306 | €1,416 | -€45,890 | -97.0% |
| Income taxes | 67/77 | €13,960 | €2,637 | -€11,323 | -81.1% |
| Profit (loss) for the period | 9904 | €33,346 | -€1,221 | -€34,567 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,346 | -€1,221 | -€34,567 |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.