JORC: 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.
JORC
Largest movements
- Tangible fixed assets -€43,861
down €43,861 (-13.0%), from €337,107 to €293,245
of which Furniture and vehicles: -€25,967
- Cash -€15,883
down €15,883 (-11.2%), from €142,227 to €126,344
mainly Debts after one year (-€41,454) and Deferred charges and accrued income (-€12,760)
- Deferred charges and accrued income +€12,760
up €12,760 (+269%), from €4,745 to €17,505
- Receivables within one year +€7,905
up €7,905 (+58.3%), from €13,549 to €21,454
- Stocks and contracts -€5,713
down €5,713 (-27.6%), from €20,664 to €14,951
- Debts after one year -€41,454
down €41,454 (-38.7%), from €107,073 to €65,619
- Tax, wage and social debts -€8,543
down €8,543 (-27.9%), from €30,576 to €22,033
of which Taxes: -€13,765
- Reserves +€8,282
up €8,282 (+2.9%), from €283,324 to €291,606
- Staff costs +€28,342
up €28,342 (+12.7%), from €223,877 to €252,220
- Financial income -€28,002
down €28,002 (-96.8%), from €28,926 to €924
of which Non-recurring financial income: -€28,926
- Gross operating margin +€15,619
up €15,619 (+5.1%), from €306,044 to €321,663
- Taxes -€11,055
down €11,055 (-74.2%), from €14,908 to €3,853
- Depreciation +€10,167
up €10,167 (+25.7%), from €39,537 to €49,704
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 | €518,757 | €473,965 | -€44,791 | -8.6% |
| Fixed assets | 21/28 | €337,572 | €293,710 | -€43,861 | -13.0% |
| Tangible fixed assets | 22/27 | €337,107 | €293,245 | -€43,861 | -13.0% |
| Land and buildings | 22 | €165,760 | €162,129 | -€3,632 | -2.2% |
| Plant, machinery and equipment | 23 | €29,516 | €27,164 | -€2,352 | -8.0% |
| Furniture and vehicles | 24 | €112,985 | €87,018 | -€25,967 | -23.0% |
| Other tangible fixed assets | 26 | €28,845 | €16,935 | -€11,911 | -41.3% |
| Financial fixed assets | 28 | €465 | €465 | = | 0.0% |
| Current assets | 29/58 | €181,185 | €180,255 | -€930 | -0.5% |
| Stocks and contracts in progress | 3 | €20,664 | €14,951 | -€5,713 | -27.6% |
| Stocks | 30/36 | €20,664 | €14,951 | -€5,713 | -27.6% |
| Amounts receivable within one year | 40/41 | €13,549 | €21,454 | +€7,905 | +58.3% |
| Other amounts receivable | 41 | €13,549 | €21,454 | +€7,905 | +58.3% |
| Cash at bank and in hand | 54/58 | €142,227 | €126,344 | -€15,883 | -11.2% |
| Deferred charges and accrued income | 490/1 | €4,745 | €17,505 | +€12,760 | +269% |
| Total equity and liabilities | 10/49 | €518,757 | €473,965 | -€44,791 | -8.6% |
| Equity | 10/15 | €320,524 | €328,806 | +€8,282 | +2.6% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €283,324 | €291,606 | +€8,282 | +2.9% |
| Distributable reserves | 133 | €283,324 | €291,606 | +€8,282 | +2.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €198,233 | €145,160 | -€53,073 | -26.8% |
| Amounts payable after more than one year | 17 | €107,073 | €65,619 | -€41,454 | -38.7% |
| Financial debts | 170/4 | €107,073 | €65,619 | -€41,454 | -38.7% |
| Amounts payable within one year | 42/48 | €91,160 | €79,541 | -€11,619 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €45,130 | €41,454 | -€3,675 | -8.1% |
| Financial debts | 43 | €2,555 | €1,458 | -€1,096 | -42.9% |
| Credit institutions | 430/8 | €2,555 | €1,458 | -€1,096 | -42.9% |
| Trade debts | 44 | €12,201 | €14,595 | +€2,394 | +19.6% |
| Suppliers | 440/4 | €12,201 | €14,595 | +€2,394 | +19.6% |
| Taxes, remuneration and social security | 45 | €30,576 | €22,033 | -€8,543 | -27.9% |
| Taxes | 450/3 | €22,137 | €8,372 | -€13,765 | -62.2% |
| Remuneration and social security | 454/9 | €8,439 | €13,661 | +€5,222 | +61.9% |
| Other amounts payable | 47/48 | €698 | €0 | -€698 | -100% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €223,877 | €252,220 | +€28,342 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,537 | €49,704 | +€10,167 | +25.7% |
| Other operating charges | 640/8 | €3,115 | €2,795 | -€320 | -10.3% |
| Gross operating margin | 9900 | €306,044 | €321,663 | +€15,619 | +5.1% |
| Operating profit (loss) | 9901 | €39,514 | €16,943 | -€22,571 | -57.1% |
| Financial income | 75/76B | €28,926 | €924 | -€28,002 | -96.8% |
| Recurring financial income | 75 | €28,926 | €924 | -€28,002 | -96.8% |
| Non-recurring financial income | 76B | €28,926 | - | -€28,926 | |
| Financial charges | 65/66B | €5,497 | €5,732 | +€235 | +4.3% |
| Recurring financial charges | 65 | €5,497 | €5,732 | +€235 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €62,943 | €12,135 | -€50,808 | -80.7% |
| Income taxes | 67/77 | €14,908 | €3,853 | -€11,055 | -74.2% |
| Profit (loss) for the period | 9904 | €48,034 | €8,282 | -€39,753 | -82.8% |
| Profit (loss) for the period to be appropriated | 9905 | €48,034 | €8,282 | -€39,753 | -82.8% |
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 18 October 2026 via checked.be.