JORAN: 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.
JORAN
Largest movements
- Cash +€568,484
up €568,484 (+1880.6%), from €30,229 to €598,713
mainly Net result for the year (+€346,106) and Investment in fixed assets (net) (+€153,258)
- Tangible fixed assets -€185,037
down €185,037 (-19.3%), from €959,562 to €774,524
of which Land and buildings: -€166,339
- Reserves +€346,106
up €346,106 (+69.4%), from €498,861 to €844,967
of which Distributable reserves: +€420,902
- Tax, wage and social debts +€80,228
up €80,228 (+3119.0%), from €2,572 to €82,800
- Provisions -€24,932
down €24,932 (-21.8%), from €114,606 to €89,674
- Gross operating margin +€514,295
up €514,295 (+1085.9%), from €47,363 to €561,657
- Taxes +€198,097
up €198,097 (+6867.9%), from €2,884 to €200,982
- Depreciation -€12,969
down €12,969 (-29.1%), from €44,511 to €31,542
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 | €990,829 | €1,374,514 | +€383,685 | +38.7% |
| Fixed assets | 21/28 | €960,601 | €775,801 | -€184,800 | -19.2% |
| Tangible fixed assets | 22/27 | €959,562 | €774,524 | -€185,037 | -19.3% |
| Land and buildings | 22 | €928,461 | €762,122 | -€166,339 | -17.9% |
| Plant, machinery and equipment | 23 | €29,561 | €12,402 | -€17,159 | -58.0% |
| Furniture and vehicles | 24 | €1,540 | €0 | -€1,540 | -100.0% |
| Financial fixed assets | 28 | €1,039 | €1,277 | +€238 | +22.9% |
| Current assets | 29/58 | €30,229 | €598,713 | +€568,484 | +1880.6% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €30,229 | €598,713 | +€568,484 | +1880.6% |
| Total equity and liabilities | 10/49 | €990,829 | €1,374,514 | +€383,685 | +38.7% |
| Equity | 10/15 | €580,701 | €926,807 | +€346,106 | +59.6% |
| Contributions | 10/11 | €81,840 | €81,840 | = | 0.0% |
| Capital | 10 | €81,840 | €81,840 | = | 0.0% |
| Issued capital | 100 | €81,840 | €81,840 | = | 0.0% |
| Reserves | 13 | €498,861 | €844,967 | +€346,106 | +69.4% |
| Non-distributable reserves | 130/1 | €8,184 | €8,184 | = | 0.0% |
| Legal reserve | 130 | €8,184 | €8,184 | = | 0.0% |
| Tax-exempt reserves | 132 | €343,819 | €269,022 | -€74,797 | -21.8% |
| Distributable reserves | 133 | €146,858 | €567,761 | +€420,902 | +286.6% |
| Provisions and deferred taxes | 16 | €114,606 | €89,674 | -€24,932 | -21.8% |
| Deferred taxes | 168 | €114,606 | €89,674 | -€24,932 | -21.8% |
| Amounts payable | 17/49 | €295,522 | €358,034 | +€62,512 | +21.2% |
| Amounts payable after more than one year | 17 | €117,681 | €105,033 | -€12,649 | -10.7% |
| Financial debts | 170/4 | €117,681 | €105,033 | -€12,649 | -10.7% |
| Amounts payable within one year | 42/48 | €176,548 | €252,156 | +€75,608 | +42.8% |
| Current portion of amounts payable after more than one year | 42 | €12,542 | €12,649 | +€107 | +0.9% |
| Trade debts | 44 | €1,322 | €1,292 | -€30 | -2.3% |
| Suppliers | 440/4 | €1,322 | €1,292 | -€30 | -2.3% |
| Taxes, remuneration and social security | 45 | €2,572 | €82,800 | +€80,228 | +3119.0% |
| Taxes | 450/3 | €2,572 | €82,800 | +€80,228 | +3119.0% |
| Other amounts payable | 47/48 | €160,112 | €155,415 | -€4,697 | -2.9% |
| Accrued charges and deferred income | 492/3 | €1,293 | €845 | -€448 | -34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,511 | €31,542 | -€12,969 | -29.1% |
| Other operating charges | 640/8 | €7,676 | €7,724 | +€48 | +0.6% |
| Gross operating margin | 9900 | €47,363 | €561,657 | +€514,295 | +1085.9% |
| Operating profit (loss) | 9901 | -€4,824 | €522,391 | +€527,215 | |
| Financial income | 75/76B | €92 | €2,274 | +€2,182 | +2378.0% |
| Recurring financial income | 75 | €92 | €2,274 | +€2,182 | +2378.0% |
| Financial charges | 65/66B | €3,180 | €2,510 | -€670 | -21.1% |
| Recurring financial charges | 65 | €3,180 | €2,510 | -€670 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,912 | €522,155 | +€530,068 | |
| Transfer from deferred taxes | 780 | €4,837 | €24,932 | +€20,095 | +415.4% |
| Income taxes | 67/77 | €2,884 | €200,982 | +€198,097 | +6867.9% |
| Profit (loss) for the period | 9904 | -€5,959 | €346,106 | +€352,065 | |
| Transfer from tax-exempt reserves | 789 | €14,512 | €74,797 | +€60,284 | +415.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,553 | €420,902 | +€412,350 | +4821.2% |
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 10 October 2026 via checked.be.