JORANALOGUE: 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.
JORANALOGUE
Largest movements
- Stocks and contracts -€56,663
down €56,663 (-14.3%), from €395,808 to €339,146
- Receivables within one year +€44,096
up €44,096 (+333%), from €13,232 to €57,328
of which Other amounts receivable: +€37,307
- Cash +€37,067
up €37,067 (+116%), from €31,931 to €68,999
mainly Net result for the year (+€147,823) and Stocks and contracts (+€56,663)
- Reserves +€147,823
up €147,823 (+81.7%), from €180,824 to €328,646
of which Distributable reserves: +€84,673
- Other debts -€142,318
down €142,318 (-49.6%), from €286,856 to €144,538
- Trade debts +€27,866
up €27,866 (+120%), from €23,215 to €51,081
- Tax, wage and social debts -€6,589
down €6,589 (-27.8%), from €23,697 to €17,108
of which Taxes: -€5,383
- Gross operating margin +€143,820
up €143,820 (+121%), from €118,779 to €262,599
- Staff costs -€69,098
down €69,098 (-69.0%), from €100,170 to €31,072
- Taxes +€42,068
up €42,068 (+29,127%), from €144 to €42,212
- Financial charges -€7,836
down €7,836 (-30.5%), from €25,652 to €17,815
- Depreciation +€2,999
up €2,999 (+14.5%), from €20,723 to €23,722
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 | €535,236 | €567,157 | +€31,921 | +6.0% |
| Fixed assets | 21/28 | €91,511 | €94,088 | +€2,577 | +2.8% |
| Intangible fixed assets | 21 | €36,027 | €34,870 | -€1,157 | -3.2% |
| Tangible fixed assets | 22/27 | €55,234 | €58,968 | +€3,734 | +6.8% |
| Plant, machinery and equipment | 23 | €17,092 | €17,001 | -€91 | -0.5% |
| Furniture and vehicles | 24 | €1,001 | €5,041 | +€4,040 | +404% |
| Other tangible fixed assets | 26 | €37,141 | €36,925 | -€216 | -0.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €443,725 | €473,070 | +€29,344 | +6.6% |
| Stocks and contracts in progress | 3 | €395,808 | €339,146 | -€56,663 | -14.3% |
| Stocks | 30/36 | €395,808 | €339,146 | -€56,663 | -14.3% |
| Amounts receivable within one year | 40/41 | €13,232 | €57,328 | +€44,096 | +333% |
| Trade receivables | 40 | €7,743 | €14,531 | +€6,788 | +87.7% |
| Other amounts receivable | 41 | €5,489 | €42,797 | +€37,307 | +680% |
| Cash at bank and in hand | 54/58 | €31,931 | €68,999 | +€37,067 | +116% |
| Deferred charges and accrued income | 490/1 | €2,753 | €7,598 | +€4,844 | +176% |
| Total equity and liabilities | 10/49 | €535,236 | €567,157 | +€31,921 | +6.0% |
| Equity | 10/15 | €200,824 | €348,646 | +€147,823 | +73.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €180,824 | €328,646 | +€147,823 | +81.7% |
| Tax-exempt reserves | 132 | - | €63,150 | +€63,150 | |
| Distributable reserves | 133 | €180,824 | €265,496 | +€84,673 | +46.8% |
| Amounts payable | 17/49 | €334,412 | €218,511 | -€115,901 | -34.7% |
| Amounts payable within one year | 42/48 | €333,768 | €212,727 | -€121,041 | -36.3% |
| Trade debts | 44 | €23,215 | €51,081 | +€27,866 | +120% |
| Suppliers | 440/4 | €23,215 | €51,081 | +€27,866 | +120% |
| Taxes, remuneration and social security | 45 | €23,697 | €17,108 | -€6,589 | -27.8% |
| Taxes | 450/3 | €13,679 | €8,296 | -€5,383 | -39.4% |
| Remuneration and social security | 454/9 | €10,018 | €8,812 | -€1,206 | -12.0% |
| Other amounts payable | 47/48 | €286,856 | €144,538 | -€142,318 | -49.6% |
| Accrued charges and deferred income | 492/3 | €645 | €5,784 | +€5,139 | +797% |
| Remuneration, social security and pensions | 62 | €100,170 | €31,072 | -€69,098 | -69.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,723 | €23,722 | +€2,999 | +14.5% |
| Other operating charges | 640/8 | €601 | €582 | -€19 | -3.2% |
| Gross operating margin | 9900 | €118,779 | €262,599 | +€143,820 | +121% |
| Operating profit (loss) | 9901 | -€2,715 | €207,223 | +€209,938 | |
| Financial income | 75/76B | €334 | €627 | +€293 | +87.7% |
| Recurring financial income | 75 | €334 | €627 | +€293 | +87.7% |
| Financial charges | 65/66B | €25,652 | €17,815 | -€7,836 | -30.5% |
| Recurring financial charges | 65 | €25,652 | €17,815 | -€7,836 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | -€28,033 | €190,035 | +€218,068 | |
| Income taxes | 67/77 | €144 | €42,212 | +€42,068 | +29,127% |
| Profit (loss) for the period | 9904 | -€28,177 | €147,823 | +€176,000 | |
| Transfer to tax-exempt reserves | 689 | - | €63,150 | +€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,177 | €84,673 | +€112,850 |
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 23 October 2026 via checked.be.