JOPECA: 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.
JOPECA
Largest movements
- Stocks and contracts -€4.9m
down €4.9m (-100.0%), from €4.9m to €0
- Current investments -€2.0m
down €2.0m (-100.0%), from €2.0m to €0
- Receivables within one year +€1.2m
up €1.2m (+206.2%), from €605,975 to €1.9m
of which Trade receivables: +€1.2m
- Cash -€428,663
down €428,663 (-64.6%), from €664,034 to €235,372
mainly Advances received (-€7.0m) and Receivables within one year (-€1.2m)
- Advances received -€7.0m
down €7.0m (-100.0%), from €7.0m to €0
- Other debts +€788,961
up €788,961 (+86.5%), from €912,358 to €1.7m
- Trade debts +€157,679
up €157,679 (+220.7%), from €71,453 to €229,132
- Gross operating margin +€477,821
up €477,821 (+119.6%), from €399,471 to €877,292
- Taxes -€21,790
down €21,790 (-90.7%), from €24,020 to €2,230
- Financial income +€15,773
up €15,773 (+53.7%), from €29,389 to €45,162
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 | €8,184,781 | €2,115,649 | -€6.1m | -74.2% |
| Fixed assets | 21/28 | €25,000 | €25,000 | = | 0.0% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €8,159,781 | €2,090,649 | -€6.1m | -74.4% |
| Stocks and contracts in progress | 3 | €4,889,772 | €0 | -€4.9m | -100.0% |
| Stocks | 30/36 | €4,889,772 | €0 | -€4.9m | -100.0% |
| Amounts receivable within one year | 40/41 | €605,975 | €1,855,277 | +€1.2m | +206.2% |
| Trade receivables | 40 | €597,584 | €1,828,343 | +€1.2m | +206.0% |
| Other amounts receivable | 41 | €8,391 | €26,935 | +€18,544 | +221.0% |
| Current investments | 50/53 | €2,000,000 | €0 | -€2.0m | -100.0% |
| Cash at bank and in hand | 54/58 | €664,034 | €235,372 | -€428,663 | -64.6% |
| Total equity and liabilities | 10/49 | €8,184,781 | €2,115,649 | -€6.1m | -74.2% |
| Equity | 10/15 | €133,560 | €140,250 | +€6,690 | +5.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,910 | €72,600 | +€6,690 | +10.1% |
| Amounts payable | 17/49 | €8,051,221 | €1,975,399 | -€6.1m | -75.5% |
| Amounts payable after more than one year | 17 | €25,000 | €25,000 | = | 0.0% |
| Financial debts | 170/4 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €8,026,221 | €1,947,221 | -€6.1m | -75.7% |
| Trade debts | 44 | €71,453 | €229,132 | +€157,679 | +220.7% |
| Suppliers | 440/4 | €71,453 | €229,132 | +€157,679 | +220.7% |
| Advances received on contracts in progress | 46 | €7,014,842 | €0 | -€7.0m | -100.0% |
| Taxes, remuneration and social security | 45 | €27,567 | €16,770 | -€10,797 | -39.2% |
| Taxes | 450/3 | €27,567 | €16,770 | -€10,797 | -39.2% |
| Other amounts payable | 47/48 | €912,358 | €1,701,318 | +€788,961 | +86.5% |
| Accrued charges and deferred income | 492/3 | - | €3,178 | +€3,178 | |
| Other operating charges | 640/8 | €140 | €1,821 | +€1,681 | +1203.4% |
| Gross operating margin | 9900 | €399,471 | €877,292 | +€477,821 | +119.6% |
| Operating profit (loss) | 9901 | €399,331 | €875,471 | +€476,140 | +119.2% |
| Financial income | 75/76B | €29,389 | €45,162 | +€15,773 | +53.7% |
| Recurring financial income | 75 | €29,389 | €45,162 | +€15,773 | +53.7% |
| Financial charges | 65/66B | €1,150 | €2,062 | +€913 | +79.4% |
| Recurring financial charges | 65 | €1,150 | €2,062 | +€913 | +79.4% |
| Profit (loss) for the period before taxes | 9903 | €427,570 | €918,571 | +€491,001 | +114.8% |
| Income taxes | 67/77 | €24,020 | €2,230 | -€21,790 | -90.7% |
| Profit (loss) for the period | 9904 | €403,550 | €916,341 | +€512,791 | +127.1% |
| Profit (loss) for the period to be appropriated | 9905 | €403,550 | €916,341 | +€512,791 | +127.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.