JOPAS: 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.
JOPAS
Largest movements
- Tangible fixed assets +€102,590
up €102,590 (+421%), from €24,355 to €126,944
of which Other tangible fixed assets: +€89,613
- Receivables within one year -€88,566
down €88,566 (-82.7%), from €107,041 to €18,475
of which Trade receivables: -€88,627
- Current investments +€39,414
up €39,414 (+211%), from €18,648 to €58,062
- Debts after one year +€38,491
up €38,491 (+485%), from €7,941 to €46,432
- Tax, wage and social debts -€16,961
down €16,961 (-56.8%), from €29,864 to €12,903
- Other debts +€15,121
up €15,121 (+411%), from €3,683 to €18,804
- Trade debts +€14,341
up €14,341 (+445%), from €3,225 to €17,566
- Current portion of long-term debt +€3,390
up €3,390 (+42.7%), from €7,936 to €11,326
- Gross operating margin -€33,095
down €33,095 (-34.5%), from €96,061 to €62,966
- Taxes -€12,109
down €12,109 (-53.5%), from €22,651 to €10,541
- Depreciation +€2,903
up €2,903 (+28.7%), from €10,104 to €13,006
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 | €164,467 | €218,849 | +€54,382 | +33.1% |
| Fixed assets | 21/28 | €29,816 | €130,975 | +€101,159 | +339% |
| Intangible fixed assets | 21 | €5,361 | €3,931 | -€1,430 | -26.7% |
| Tangible fixed assets | 22/27 | €24,355 | €126,944 | +€102,590 | +421% |
| Land and buildings | 22 | €1,644 | €1,239 | -€404 | -24.6% |
| Plant, machinery and equipment | 23 | €2,783 | €18,484 | +€15,701 | +564% |
| Furniture and vehicles | 24 | €10,888 | €10,779 | -€109 | -1.0% |
| Leasing and similar rights | 25 | €9,039 | €6,829 | -€2,210 | -24.4% |
| Other tangible fixed assets | 26 | - | €89,613 | +€89,613 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €134,651 | €87,874 | -€46,777 | -34.7% |
| Amounts receivable within one year | 40/41 | €107,041 | €18,475 | -€88,566 | -82.7% |
| Trade receivables | 40 | €106,912 | €18,285 | -€88,627 | -82.9% |
| Other amounts receivable | 41 | €129 | €190 | +€61 | +46.9% |
| Current investments | 50/53 | €18,648 | €58,062 | +€39,414 | +211% |
| Cash at bank and in hand | 54/58 | €8,616 | €10,645 | +€2,029 | +23.6% |
| Deferred charges and accrued income | 490/1 | €346 | €692 | +€346 | +99.9% |
| Total equity and liabilities | 10/49 | €164,467 | €218,849 | +€54,382 | +33.1% |
| Equity | 10/15 | €111,819 | €111,819 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €101,819 | €101,819 | = | 0.0% |
| Distributable reserves | 133 | €101,819 | €101,819 | = | 0.0% |
| Amounts payable | 17/49 | €52,648 | €107,030 | +€54,382 | +103% |
| Amounts payable after more than one year | 17 | €7,941 | €46,432 | +€38,491 | +485% |
| Financial debts | 170/4 | €7,941 | €46,432 | +€38,491 | +485% |
| Amounts payable within one year | 42/48 | €44,707 | €60,598 | +€15,891 | +35.5% |
| Current portion of amounts payable after more than one year | 42 | €7,936 | €11,326 | +€3,390 | +42.7% |
| Trade debts | 44 | €3,225 | €17,566 | +€14,341 | +445% |
| Suppliers | 440/4 | €3,225 | €17,566 | +€14,341 | +445% |
| Taxes, remuneration and social security | 45 | €29,864 | €12,903 | -€16,961 | -56.8% |
| Taxes | 450/3 | €29,864 | €12,903 | -€16,961 | -56.8% |
| Other amounts payable | 47/48 | €3,683 | €18,804 | +€15,121 | +411% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,104 | €13,006 | +€2,903 | +28.7% |
| Other operating charges | 640/8 | €1,873 | €944 | -€928 | -49.6% |
| Gross operating margin | 9900 | €96,061 | €62,966 | -€33,095 | -34.5% |
| Operating profit (loss) | 9901 | €84,085 | €49,016 | -€35,069 | -41.7% |
| Financial income | 75/76B | €309 | €117 | -€192 | -62.2% |
| Recurring financial income | 75 | €309 | €117 | -€192 | -62.2% |
| Financial charges | 65/66B | €6,900 | €6,350 | -€550 | -8.0% |
| Recurring financial charges | 65 | €6,900 | €6,350 | -€550 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €77,493 | €42,782 | -€34,711 | -44.8% |
| Income taxes | 67/77 | €22,651 | €10,541 | -€12,109 | -53.5% |
| Profit (loss) for the period | 9904 | €54,842 | €32,241 | -€22,602 | -41.2% |
| Profit (loss) for the period to be appropriated | 9905 | €54,842 | €32,241 | -€22,602 | -41.2% |
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 15 October 2026 via checked.be.