JOPA: what changed
Two fiscal 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.
JOPA
Largest movements
- Cash +€144,192
up €144,192 (+140.8%), from €102,382 to €246,574
mainly Net result for the year (+€151,103) and Other debts (+€29,977)
- Deferred charges and accrued income +€15,576
up €15,576 (+41.1%), from €37,938 to €53,513
- Tangible fixed assets +€12,919
up €12,919 (+34.4%), from €37,522 to €50,441
of which Land and buildings: +€22,778
- Receivables within one year -€4,255
down €4,255 (-100.0%), from €4,255 to €0
- Reserves +€151,103
up €151,103 (+82.4%), from €183,412 to €334,515
- Other debts +€29,977
up €29,977 (+425.9%), from €7,038 to €37,015
- Tax, wage and social debts -€7,483
down €7,483 (-27.7%), from €26,972 to €19,489
- Debts after one year -€5,505
down €5,505 (-33.4%), from €16,472 to €10,966
- Gross operating margin +€26,558
up €26,558 (+12.8%), from €208,205 to €234,764
- Taxes +€6,247
up €6,247 (+10.1%), from €62,047 to €68,294
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 | €182,097 | €350,529 | +€168,432 | +92.5% |
| Fixed assets | 21/28 | €37,522 | €50,441 | +€12,919 | +34.4% |
| Tangible fixed assets | 22/27 | €37,522 | €50,441 | +€12,919 | +34.4% |
| Land and buildings | 22 | - | €22,778 | +€22,778 | |
| Plant, machinery and equipment | 23 | €4,143 | €3,093 | -€1,050 | -25.3% |
| Leasing and similar rights | 25 | €33,379 | €24,570 | -€8,809 | -26.4% |
| Current assets | 29/58 | €144,574 | €300,087 | +€155,513 | +107.6% |
| Amounts receivable within one year | 40/41 | €4,255 | €0 | -€4,255 | -100.0% |
| Other amounts receivable | 41 | €4,255 | €0 | -€4,255 | -100.0% |
| Cash at bank and in hand | 54/58 | €102,382 | €246,574 | +€144,192 | +140.8% |
| Deferred charges and accrued income | 490/1 | €37,938 | €53,513 | +€15,576 | +41.1% |
| Total equity and liabilities | 10/49 | €182,097 | €350,529 | +€168,432 | +92.5% |
| Equity | 10/15 | €123,568 | €274,671 | +€151,103 | +122.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €183,412 | €334,515 | +€151,103 | +82.4% |
| Distributable reserves | 133 | €183,412 | €334,515 | +€151,103 | +82.4% |
| Profit (loss) carried forward | 14 | -€78,444 | -€78,444 | = | 0.0% |
| Amounts payable | 17/49 | €58,529 | €75,858 | +€17,329 | +29.6% |
| Amounts payable after more than one year | 17 | €16,472 | €10,966 | -€5,505 | -33.4% |
| Financial debts | 170/4 | €16,472 | €10,966 | -€5,505 | -33.4% |
| Amounts payable within one year | 42/48 | €41,446 | €64,261 | +€22,815 | +55.0% |
| Current portion of amounts payable after more than one year | 42 | €5,013 | €5,505 | +€492 | +9.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,423 | €2,252 | -€170 | -7.0% |
| Suppliers | 440/4 | €2,423 | €2,252 | -€170 | -7.0% |
| Taxes, remuneration and social security | 45 | €26,972 | €19,489 | -€7,483 | -27.7% |
| Taxes | 450/3 | €26,972 | €19,489 | -€7,483 | -27.7% |
| Other amounts payable | 47/48 | €7,038 | €37,015 | +€29,977 | +425.9% |
| Accrued charges and deferred income | 492/3 | €611 | €631 | +€20 | +3.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,565 | €10,525 | +€960 | +10.0% |
| Other operating charges | 640/8 | €703 | €724 | +€21 | +2.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €208,205 | €234,764 | +€26,558 | +12.8% |
| Operating profit (loss) | 9901 | €197,937 | €223,514 | +€25,578 | +12.9% |
| Financial income | 75/76B | €85 | €0 | -€85 | -100.0% |
| Recurring financial income | 75 | €85 | €0 | -€85 | -100.0% |
| Financial charges | 65/66B | €5,028 | €4,118 | -€910 | -18.1% |
| Recurring financial charges | 65 | €5,028 | €4,118 | -€910 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €192,993 | €219,397 | +€26,403 | +13.7% |
| Income taxes | 67/77 | €62,047 | €68,294 | +€6,247 | +10.1% |
| Profit (loss) for the period | 9904 | €130,946 | €151,103 | +€20,157 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €130,946 | €151,103 | +€20,157 | +15.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.