JORAH: 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.
JORAH
Largest movements
- Tangible fixed assets -€99,803
down €99,803 (-24.6%), from €405,185 to €305,382
of which Plant, machinery and equipment: -€94,495
- Cash +€91,898
up €91,898 (+20.7%), from €443,227 to €535,126
mainly Depreciation (+€123,605) and Net result for the year (+€97,696)
- Receivables within one year +€25,417
up €25,417 (+1246.9%), from €2,038 to €27,456
of which Other amounts receivable: +€25,529
- Intangible fixed assets -€22,192
down €22,192 (-66.7%), from €33,288 to €11,096
- Profit (loss) carried forward -€100,000
down €100,000 (-20.1%), from €498,257 to €398,257
- Reserves +€97,696
up €97,696 (+68.9%), from €141,703 to €239,399
- Debts after one year -€87,532
down €87,532 (-26.2%), from €334,330 to €246,798
- Trade debts +€64,800
up €64,800 (+17.2%), from €375,798 to €440,597
- Staff costs +€36,535
up €36,535 (+10.7%), from €340,708 to €377,242
- Gross operating margin -€22,225
down €22,225 (-3.3%), from €678,692 to €656,467
- Taxes -€17,612
down €17,612 (-28.9%), from €60,969 to €43,357
- Other operating charges +€14,839
up €14,839 (+867.6%), from €1,710 to €16,550
- Depreciation -€9,246
down €9,246 (-7.0%), from €132,851 to €123,605
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 | €1,565,420 | €1,555,404 | -€10,016 | -0.6% |
| Fixed assets | 21/28 | €442,783 | €320,838 | -€121,945 | -27.5% |
| Intangible fixed assets | 21 | €33,288 | €11,096 | -€22,192 | -66.7% |
| Tangible fixed assets | 22/27 | €405,185 | €305,382 | -€99,803 | -24.6% |
| Land and buildings | 22 | €10,329 | €8,911 | -€1,418 | -13.7% |
| Plant, machinery and equipment | 23 | €371,662 | €277,167 | -€94,495 | -25.4% |
| Furniture and vehicles | 24 | €5,352 | €4,745 | -€607 | -11.3% |
| Other tangible fixed assets | 26 | €17,842 | €14,559 | -€3,283 | -18.4% |
| Financial fixed assets | 28 | €4,310 | €4,360 | +€50 | +1.2% |
| Current assets | 29/58 | €1,122,637 | €1,234,566 | +€111,929 | +10.0% |
| Stocks and contracts in progress | 3 | €217,604 | €216,744 | -€859 | -0.4% |
| Stocks | 30/36 | €217,604 | €216,744 | -€859 | -0.4% |
| Amounts receivable within one year | 40/41 | €2,038 | €27,456 | +€25,417 | +1246.9% |
| Trade receivables | 40 | €749 | €637 | -€112 | -15.0% |
| Other amounts receivable | 41 | €1,289 | €26,818 | +€25,529 | +1980.6% |
| Current investments | 50/53 | €450,000 | €450,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €443,227 | €535,126 | +€91,898 | +20.7% |
| Deferred charges and accrued income | 490/1 | €9,767 | €5,240 | -€4,527 | -46.4% |
| Total equity and liabilities | 10/49 | €1,565,420 | €1,555,404 | -€10,016 | -0.6% |
| Equity | 10/15 | €658,560 | €656,255 | -€2,304 | -0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €141,703 | €239,399 | +€97,696 | +68.9% |
| Distributable reserves | 133 | €141,703 | €239,399 | +€97,696 | +68.9% |
| Profit (loss) carried forward | 14 | €498,257 | €398,257 | -€100,000 | -20.1% |
| Amounts payable | 17/49 | €906,860 | €899,148 | -€7,712 | -0.9% |
| Amounts payable after more than one year | 17 | €334,330 | €246,798 | -€87,532 | -26.2% |
| Financial debts | 170/4 | €334,330 | €246,798 | -€87,532 | -26.2% |
| Amounts payable within one year | 42/48 | €572,530 | €652,350 | +€79,820 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €86,377 | €87,532 | +€1,155 | +1.3% |
| Trade debts | 44 | €375,798 | €440,597 | +€64,800 | +17.2% |
| Suppliers | 440/4 | €375,798 | €440,597 | +€64,800 | +17.2% |
| Taxes, remuneration and social security | 45 | €57,191 | €64,549 | +€7,358 | +12.9% |
| Taxes | 450/3 | €22,659 | €15,127 | -€7,532 | -33.2% |
| Remuneration and social security | 454/9 | €34,532 | €49,422 | +€14,890 | +43.1% |
| Other amounts payable | 47/48 | €53,165 | €59,672 | +€6,507 | +12.2% |
| Non-recurring operating income | 76A | - | €20,000 | +€20,000 | |
| Remuneration, social security and pensions | 62 | €340,708 | €377,242 | +€36,535 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,851 | €123,605 | -€9,246 | -7.0% |
| Other operating charges | 640/8 | €1,710 | €16,550 | +€14,839 | +867.6% |
| Gross operating margin | 9900 | €678,692 | €656,467 | -€22,225 | -3.3% |
| Operating profit (loss) | 9901 | €203,423 | €139,070 | -€64,353 | -31.6% |
| Financial income | 75/76B | €12,253 | €15,136 | +€2,883 | +23.5% |
| Recurring financial income | 75 | €12,253 | €15,136 | +€2,883 | +23.5% |
| Financial charges | 65/66B | €14,865 | €13,154 | -€1,711 | -11.5% |
| Recurring financial charges | 65 | €14,865 | €13,154 | -€1,711 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €200,812 | €141,053 | -€59,760 | -29.8% |
| Income taxes | 67/77 | €60,969 | €43,357 | -€17,612 | -28.9% |
| Profit (loss) for the period | 9904 | €139,843 | €97,696 | -€42,148 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €139,843 | €97,696 | -€42,148 | -30.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.