JONAR: 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.
JONAR
Largest movements
- Cash -€85,751
down €85,751 (-86.9%), from €98,674 to €12,923
mainly Contributions, distributions and other (-€73,700) and Receivables within one year (-€46,225)
- Receivables within one year +€46,225
up €46,225 (+175%), from €26,456 to €72,681
of which Trade receivables: +€51,072
- Tangible fixed assets -€40,480
down €40,480 (-5.3%), from €760,955 to €720,474
of which Plant, machinery and equipment: -€23,857
- Debts after one year -€42,865
down €42,865 (-62.8%), from €68,228 to €25,363
- Reserves -€39,485
down €39,485 (-10.4%), from €379,370 to €339,885
of which Tax-exempt reserves: -€84,200
- Gross operating margin -€31,196
down €31,196 (-19.3%), from €161,656 to €130,461
- Financial charges -€7,412
down €7,412 (-21.6%), from €34,248 to €26,836
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 | €921,996 | €833,451 | -€88,546 | -9.6% |
| Fixed assets | 21/28 | €779,434 | €734,334 | -€45,100 | -5.8% |
| Intangible fixed assets | 21 | €18,479 | €13,860 | -€4,620 | -25.0% |
| Tangible fixed assets | 22/27 | €760,955 | €720,474 | -€40,480 | -5.3% |
| Land and buildings | 22 | €79,813 | €67,964 | -€11,848 | -14.8% |
| Plant, machinery and equipment | 23 | €159,188 | €135,331 | -€23,857 | -15.0% |
| Furniture and vehicles | 24 | €19,303 | €14,842 | -€4,462 | -23.1% |
| Other tangible fixed assets | 26 | €502,650 | €502,337 | -€313 | -0.1% |
| Current assets | 29/58 | €142,562 | €99,117 | -€43,446 | -30.5% |
| Amounts receivable within one year | 40/41 | €26,456 | €72,681 | +€46,225 | +175% |
| Trade receivables | 40 | €17,695 | €68,767 | +€51,072 | +289% |
| Other amounts receivable | 41 | €8,762 | €3,914 | -€4,847 | -55.3% |
| Cash at bank and in hand | 54/58 | €98,674 | €12,923 | -€85,751 | -86.9% |
| Deferred charges and accrued income | 490/1 | €17,432 | €13,512 | -€3,919 | -22.5% |
| Total equity and liabilities | 10/49 | €921,996 | €833,451 | -€88,546 | -9.6% |
| Equity | 10/15 | €381,561 | €342,076 | -€39,485 | -10.3% |
| Reserves | 13 | €379,370 | €339,885 | -€39,485 | -10.4% |
| Tax-exempt reserves | 132 | €84,200 | - | -€84,200 | |
| Distributable reserves | 133 | €295,170 | €339,885 | +€44,715 | +15.1% |
| Profit (loss) carried forward | 14 | €2,191 | €2,191 | = | 0.0% |
| Amounts payable | 17/49 | €540,436 | €491,375 | -€49,061 | -9.1% |
| Amounts payable after more than one year | 17 | €68,228 | €25,363 | -€42,865 | -62.8% |
| Financial debts | 170/4 | €68,228 | €25,363 | -€42,865 | -62.8% |
| Amounts payable within one year | 42/48 | €439,382 | €438,276 | -€1,106 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €44,633 | €45,388 | +€755 | +1.7% |
| Trade debts | 44 | €13,544 | €10,668 | -€2,876 | -21.2% |
| Suppliers | 440/4 | €13,544 | €10,668 | -€2,876 | -21.2% |
| Taxes, remuneration and social security | 45 | €19,227 | €19,479 | +€252 | +1.3% |
| Taxes | 450/3 | €19,227 | €19,479 | +€252 | +1.3% |
| Other amounts payable | 47/48 | €361,978 | €362,741 | +€763 | +0.2% |
| Accrued charges and deferred income | 492/3 | €32,825 | €27,735 | -€5,090 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,350 | €47,428 | +€77 | +0.2% |
| Other operating charges | 640/8 | €4,427 | €4,709 | +€282 | +6.4% |
| Non-recurring operating charges | 66A | €7,920 | - | -€7,920 | |
| Gross operating margin | 9900 | €161,656 | €130,461 | -€31,196 | -19.3% |
| Operating profit (loss) | 9901 | €101,959 | €78,324 | -€23,636 | -23.2% |
| Financial income | 75/76B | €6 | €240 | +€233 | +3,640% |
| Recurring financial income | 75 | €6 | €240 | +€233 | +3,640% |
| Financial charges | 65/66B | €34,248 | €26,836 | -€7,412 | -21.6% |
| Recurring financial charges | 65 | €34,248 | €26,836 | -€7,412 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €67,718 | €51,727 | -€15,991 | -23.6% |
| Income taxes | 67/77 | €16,107 | €17,512 | +€1,405 | +8.7% |
| Profit (loss) for the period | 9904 | €51,611 | €34,215 | -€17,396 | -33.7% |
| Transfer from tax-exempt reserves | 789 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,611 | €118,415 | +€66,804 | +129% |
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 26 October 2026 via checked.be.