JOPARCO: 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.
JOPARCO
Largest movements
- Receivables after one year -€450,000
down €450,000 (-100%), from €450,000 to €0
- Receivables within one year +€360,851
up €360,851 (+324%), from €111,247 to €472,099
of which Other amounts receivable: +€360,858
- Tangible fixed assets +€84,523
up €84,523 (+20.2%), from €417,506 to €502,029
of which Land and buildings: +€115,311
- Cash -€67,585
down €67,585 (-54.1%), from €125,019 to €57,434
mainly Receivables within one year (-€360,851) and Contributions, distributions and other (-€147,653)
- Reserves -€39,117
down €39,117 (-3.6%), from €1.1m to €1.0m
of which Distributable reserves: -€39,117
- Debts after one year -€27,200
down €27,200 (-79.6%), from €34,177 to €6,977
- Gross operating margin -€126,861
down €126,861 (-33.8%), from €375,094 to €248,233
- Staff costs -€80,126
down €80,126, from €79,153 to -€974
- Taxes +€51,012
up €51,012 (+108%), from €47,071 to €98,083
- Financial income +€16,544
up €16,544 (+133%), from €12,422 to €28,966
- Other operating charges +€6,187
up €6,187 (+92.6%), from €6,683 to €12,870
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 | €1,218,958 | €1,154,888 | -€64,070 | -5.3% |
| Fixed assets | 21/28 | €417,507 | €502,030 | +€84,523 | +20.2% |
| Tangible fixed assets | 22/27 | €417,506 | €502,029 | +€84,523 | +20.2% |
| Land and buildings | 22 | €300,873 | €416,184 | +€115,311 | +38.3% |
| Plant, machinery and equipment | 23 | €5,824 | €3,721 | -€2,103 | -36.1% |
| Furniture and vehicles | 24 | €85,982 | €59,828 | -€26,154 | -30.4% |
| Other tangible fixed assets | 26 | €24,827 | €22,296 | -€2,531 | -10.2% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €801,451 | €652,858 | -€148,592 | -18.5% |
| Amounts receivable after more than one year | 29 | €450,000 | €0 | -€450,000 | -100% |
| Other amounts receivable | 291 | €450,000 | €0 | -€450,000 | -100% |
| Amounts receivable within one year | 40/41 | €111,247 | €472,099 | +€360,851 | +324% |
| Trade receivables | 40 | €93 | €86 | -€7 | -7.3% |
| Other amounts receivable | 41 | €111,155 | €472,013 | +€360,858 | +325% |
| Current investments | 50/53 | €95,389 | €93,470 | -€1,919 | -2.0% |
| Cash at bank and in hand | 54/58 | €125,019 | €57,434 | -€67,585 | -54.1% |
| Deferred charges and accrued income | 490/1 | €19,795 | €29,856 | +€10,061 | +50.8% |
| Total equity and liabilities | 10/49 | €1,218,958 | €1,154,888 | -€64,070 | -5.3% |
| Equity | 10/15 | €1,139,353 | €1,100,235 | -€39,117 | -3.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,077,353 | €1,038,235 | -€39,117 | -3.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,071,153 | €1,032,035 | -€39,117 | -3.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €79,605 | €54,653 | -€24,952 | -31.3% |
| Amounts payable after more than one year | 17 | €34,177 | €6,977 | -€27,200 | -79.6% |
| Financial debts | 170/4 | €34,177 | €6,977 | -€27,200 | -79.6% |
| Amounts payable within one year | 42/48 | €44,337 | €47,668 | +€3,331 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €26,097 | €27,200 | +€1,103 | +4.2% |
| Trade debts | 44 | €6,918 | €14,340 | +€7,422 | +107% |
| Suppliers | 440/4 | €6,918 | €14,340 | +€7,422 | +107% |
| Taxes, remuneration and social security | 45 | €11,322 | €6,128 | -€5,194 | -45.9% |
| Taxes | 450/3 | €11,322 | €6,128 | -€5,194 | -45.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,091 | €7 | -€1,084 | -99.3% |
| Remuneration, social security and pensions | 62 | €79,153 | -€974 | -€80,126 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,925 | €53,619 | -€5,306 | -9.0% |
| Other operating charges | 640/8 | €6,683 | €12,870 | +€6,187 | +92.6% |
| Gross operating margin | 9900 | €375,094 | €248,233 | -€126,861 | -33.8% |
| Operating profit (loss) | 9901 | €230,333 | €182,717 | -€47,616 | -20.7% |
| Financial income | 75/76B | €12,422 | €28,966 | +€16,544 | +133% |
| Recurring financial income | 75 | €12,422 | €28,966 | +€16,544 | +133% |
| Financial charges | 65/66B | €2,715 | €5,065 | +€2,350 | +86.5% |
| Recurring financial charges | 65 | €2,715 | €5,065 | +€2,350 | +86.5% |
| Profit (loss) for the period before taxes | 9903 | €240,040 | €206,618 | -€33,422 | -13.9% |
| Income taxes | 67/77 | €47,071 | €98,083 | +€51,012 | +108% |
| Profit (loss) for the period | 9904 | €192,970 | €108,535 | -€84,434 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €192,970 | €108,535 | -€84,434 | -43.8% |
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 14 October 2026 via checked.be.