JORAM: 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.
JORAM
Largest movements
- Tangible fixed assets +€8,753
up €8,753 (+24.0%), from €36,398 to €45,150
of which Plant, machinery and equipment: +€8,220
- Cash +€4,687
up €4,687 (+13.1%), from €35,649 to €40,336
mainly Depreciation (+€11,104) and Net result for the year (+€8,503)
- Receivables within one year -€1,197
down €1,197 (-56.3%), from €2,129 to €931
of which Trade receivables: -€681
- Reserves +€8,503
up €8,503 (+15.6%), from €54,400 to €62,903
- Tax, wage and social debts +€4,350
up €4,350 (+160%), from €2,725 to €7,075
- Trade debts -€1,308
down €1,308 (-51.4%), from €2,548 to €1,240
- Taxes +€2,181
up €2,181 (+89.1%), from €2,447 to €4,628
- Gross operating margin +€1,162
up €1,162 (+4.6%), from €25,367 to €26,529
- Other operating charges +€587
up €587 (+45.8%), from €1,283 to €1,870
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 | €76,605 | €88,399 | +€11,794 | +15.4% |
| Fixed assets | 21/28 | €36,398 | €45,150 | +€8,753 | +24.0% |
| Tangible fixed assets | 22/27 | €36,398 | €45,150 | +€8,753 | +24.0% |
| Plant, machinery and equipment | 23 | €557 | €8,777 | +€8,220 | +1,476% |
| Furniture and vehicles | 24 | €18,270 | €22,291 | +€4,021 | +22.0% |
| Other tangible fixed assets | 26 | €17,571 | €14,083 | -€3,488 | -19.9% |
| Current assets | 29/58 | €40,208 | €43,249 | +€3,041 | +7.6% |
| Amounts receivable within one year | 40/41 | €2,129 | €931 | -€1,197 | -56.3% |
| Trade receivables | 40 | €1,532 | €850 | -€681 | -44.5% |
| Other amounts receivable | 41 | €597 | €81 | -€516 | -86.4% |
| Cash at bank and in hand | 54/58 | €35,649 | €40,336 | +€4,687 | +13.1% |
| Deferred charges and accrued income | 490/1 | €2,430 | €1,982 | -€449 | -18.5% |
| Total equity and liabilities | 10/49 | €76,605 | €88,399 | +€11,794 | +15.4% |
| Equity | 10/15 | €60,600 | €69,103 | +€8,503 | +14.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €54,400 | €62,903 | +€8,503 | +15.6% |
| Distributable reserves | 133 | €54,400 | €62,903 | +€8,503 | +15.6% |
| Amounts payable | 17/49 | €16,005 | €19,296 | +€3,290 | +20.6% |
| Amounts payable within one year | 42/48 | €16,005 | €19,083 | +€3,078 | +19.2% |
| Trade debts | 44 | €2,548 | €1,240 | -€1,308 | -51.4% |
| Suppliers | 440/4 | €2,548 | €1,240 | -€1,308 | -51.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,725 | €7,075 | +€4,350 | +160% |
| Taxes | 450/3 | €2,725 | €7,075 | +€4,350 | +160% |
| Other amounts payable | 47/48 | €10,732 | €10,768 | +€36 | +0.3% |
| Accrued charges and deferred income | 492/3 | - | €213 | +€213 | |
| Non-recurring operating income | 76A | - | €499 | +€499 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,041 | €11,104 | +€63 | +0.6% |
| Other operating charges | 640/8 | €1,283 | €1,870 | +€587 | +45.8% |
| Gross operating margin | 9900 | €25,367 | €26,529 | +€1,162 | +4.6% |
| Operating profit (loss) | 9901 | €13,043 | €13,555 | +€511 | +3.9% |
| Financial income | 75/76B | €15 | €3 | -€12 | -79.6% |
| Recurring financial income | 75 | €15 | €3 | -€12 | -79.6% |
| Financial charges | 65/66B | €203 | €426 | +€223 | +110% |
| Recurring financial charges | 65 | €203 | €426 | +€223 | +110% |
| Profit (loss) for the period before taxes | 9903 | €12,855 | €13,131 | +€276 | +2.1% |
| Income taxes | 67/77 | €2,447 | €4,628 | +€2,181 | +89.1% |
| Profit (loss) for the period | 9904 | €10,408 | €8,503 | -€1,905 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,408 | €8,503 | -€1,905 | -18.3% |
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 29 October 2026 via checked.be.