JONI: 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.
JONI
Largest movements
- Stocks and contracts +€215,553
up €215,553 (+31.7%), from €679,459 to €895,012
of which Stocks: +€130,301
- Receivables within one year -€126,782
down €126,782 (-89.3%), from €141,989 to €15,206
of which Trade receivables: -€73,069
- Cash -€74,806
down €74,806 (-96.9%), from €77,197 to €2,391
mainly Stocks and contracts (-€215,553) and Short-term financial debts (-€26,307)
- Tangible fixed assets -€23,380
down €23,380 (-33.9%), from €68,897 to €45,517
of which Plant, machinery and equipment: -€15,235
- Profit (loss) carried forward +€55,600
no longer reported in 2025 (was -€55,600)
- Short-term financial debts -€26,307
down €26,307 (-26.3%), from €100,000 to €73,693
- Trade debts -€19,333
down €19,333 (-42.2%), from €45,772 to €26,439
- Reserves -€14,518
down €14,518 (-1.7%), from €853,375 to €838,858
of which Distributable reserves: -€14,518
- Current portion of long-term debt -€9,863
down €9,863 (-91.5%), from €10,782 to €919
- Gross operating margin +€121,236
up €121,236, from -€16,503 to €104,733
- Taxes +€4,356
up €4,356 (+1971.7%), from €221 to €4,577
- Financial charges -€2,386
down €2,386 (-33.4%), from €7,153 to €4,767
- Depreciation -€1,337
down €1,337 (-4.8%), from €28,056 to €26,719
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 | €981,360 | €970,584 | -€10,776 | -1.1% |
| Fixed assets | 21/28 | €73,277 | €49,897 | -€23,380 | -31.9% |
| Tangible fixed assets | 22/27 | €68,897 | €45,517 | -€23,380 | -33.9% |
| Plant, machinery and equipment | 23 | €41,300 | €26,065 | -€15,235 | -36.9% |
| Furniture and vehicles | 24 | €27,597 | €19,452 | -€8,145 | -29.5% |
| Financial fixed assets | 28 | €4,380 | €4,380 | = | 0.0% |
| Current assets | 29/58 | €908,083 | €920,687 | +€12,604 | +1.4% |
| Stocks and contracts in progress | 3 | €679,459 | €895,012 | +€215,553 | +31.7% |
| Stocks | 30/36 | €676,459 | €806,760 | +€130,301 | +19.3% |
| Contracts in progress | 37 | €3,000 | €88,253 | +€85,253 | +2841.8% |
| Amounts receivable within one year | 40/41 | €141,989 | €15,206 | -€126,782 | -89.3% |
| Trade receivables | 40 | €73,069 | - | -€73,069 | |
| Other amounts receivable | 41 | €68,920 | €15,206 | -€53,713 | -77.9% |
| Cash at bank and in hand | 54/58 | €77,197 | €2,391 | -€74,806 | -96.9% |
| Deferred charges and accrued income | 490/1 | €9,439 | €8,078 | -€1,361 | -14.4% |
| Total equity and liabilities | 10/49 | €981,360 | €970,584 | -€10,776 | -1.1% |
| Equity | 10/15 | €803,975 | €845,058 | +€41,082 | +5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €853,375 | €838,858 | -€14,518 | -1.7% |
| Tax-exempt reserves | 132 | €9,523 | €9,523 | = | 0.0% |
| Distributable reserves | 133 | €843,852 | €829,334 | -€14,518 | -1.7% |
| Profit (loss) carried forward | 14 | -€55,600 | - | +€55,600 | |
| Amounts payable | 17/49 | €177,385 | €125,527 | -€51,858 | -29.2% |
| Amounts payable after more than one year | 17 | €919 | - | -€919 | |
| Financial debts | 170/4 | €919 | - | -€919 | |
| Amounts payable within one year | 42/48 | €176,466 | €125,289 | -€51,176 | -29.0% |
| Current portion of amounts payable after more than one year | 42 | €10,782 | €919 | -€9,863 | -91.5% |
| Financial debts | 43 | €100,000 | €73,693 | -€26,307 | -26.3% |
| Credit institutions | 430/8 | €100,000 | €73,693 | -€26,307 | -26.3% |
| Trade debts | 44 | €45,772 | €26,439 | -€19,333 | -42.2% |
| Suppliers | 440/4 | €45,772 | €26,439 | -€19,333 | -42.2% |
| Advances received on contracts in progress | 46 | €1,500 | €1,500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €9,246 | €9,464 | +€218 | +2.4% |
| Taxes | 450/3 | €7,496 | €7,714 | +€218 | +2.9% |
| Remuneration and social security | 454/9 | €1,750 | €1,750 | = | 0.0% |
| Other amounts payable | 47/48 | €9,166 | €13,275 | +€4,109 | +44.8% |
| Accrued charges and deferred income | 492/3 | - | €237 | +€237 | |
| Non-recurring operating income | 76A | - | €2,066 | +€2,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,056 | €26,719 | -€1,337 | -4.8% |
| Other operating charges | 640/8 | €3,773 | €3,785 | +€12 | +0.3% |
| Gross operating margin | 9900 | -€16,503 | €104,733 | +€121,236 | |
| Operating profit (loss) | 9901 | -€48,331 | €74,230 | +€122,561 | |
| Financial income | 75/76B | €105 | €198 | +€92 | +87.6% |
| Recurring financial income | 75 | €105 | €198 | +€92 | +87.6% |
| Financial charges | 65/66B | €7,153 | €4,767 | -€2,386 | -33.4% |
| Recurring financial charges | 65 | €7,153 | €4,767 | -€2,386 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | -€55,379 | €69,660 | +€125,039 | |
| Income taxes | 67/77 | €221 | €4,577 | +€4,356 | +1971.7% |
| Profit (loss) for the period | 9904 | -€55,600 | €65,082 | +€120,683 | |
| Profit (loss) for the period to be appropriated | 9905 | -€55,600 | €65,082 | +€120,683 |
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.