JORE: what changed
Two fiscal 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.
JORE
Largest movements
- Cash +€183,102
up €183,102 (+321.8%), from €56,905 to €240,006
mainly Net result for the year (+€206,895) and Other debts (+€110,733)
- Tangible fixed assets +€148,213
up €148,213 (+116.1%), from €127,616 to €275,829
of which Plant, machinery and equipment: +€126,623
- Receivables within one year -€67,521
down €67,521 (-38.1%), from €177,005 to €109,484
of which Trade receivables: -€97,212
- Reserves +€158,733
up €158,733 (+295.3%), from €53,749 to €212,482
of which Distributable reserves: +€158,733
- Other debts +€110,733
up €110,733 (+11.8%), from €940,976 to €1.1m
- Profit (loss) carried forward +€48,162
up €48,162, from -€48,162 to €0
- Trade debts +€46,058
up €46,058 (+92.8%), from €49,655 to €95,713
- Accrued charges and deferred income -€40,915
down €40,915 (-88.7%), from €46,137 to €5,222
- Gross operating margin +€340,451
up €340,451 (+175.1%), from €194,484 to €534,935
- Staff costs +€40,431
up €40,431 (+17.2%), from €235,729 to €276,160
- Taxes +€36,148
up €36,148 (+6311.8%), from €573 to €36,721
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 | €1,271,019 | €1,543,842 | +€272,824 | +21.5% |
| Fixed assets | 21/28 | €127,831 | €276,044 | +€148,213 | +115.9% |
| Tangible fixed assets | 22/27 | €127,616 | €275,829 | +€148,213 | +116.1% |
| Land and buildings | 22 | €47,558 | €41,713 | -€5,845 | -12.3% |
| Plant, machinery and equipment | 23 | €54,946 | €181,569 | +€126,623 | +230.4% |
| Furniture and vehicles | 24 | €25,112 | €52,548 | +€27,436 | +109.3% |
| Financial fixed assets | 28 | €215 | €215 | = | 0.0% |
| Current assets | 29/58 | €1,143,187 | €1,267,798 | +€124,611 | +10.9% |
| Stocks and contracts in progress | 3 | €908,161 | €911,123 | +€2,962 | +0.3% |
| Stocks | 30/36 | €908,161 | €911,123 | +€2,962 | +0.3% |
| Amounts receivable within one year | 40/41 | €177,005 | €109,484 | -€67,521 | -38.1% |
| Trade receivables | 40 | €143,139 | €45,927 | -€97,212 | -67.9% |
| Other amounts receivable | 41 | €33,866 | €63,557 | +€29,691 | +87.7% |
| Cash at bank and in hand | 54/58 | €56,905 | €240,006 | +€183,102 | +321.8% |
| Deferred charges and accrued income | 490/1 | €1,116 | €7,184 | +€6,068 | +543.5% |
| Total equity and liabilities | 10/49 | €1,271,019 | €1,543,842 | +€272,824 | +21.5% |
| Equity | 10/15 | €67,560 | €274,455 | +€206,895 | +306.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €53,749 | €212,482 | +€158,733 | +295.3% |
| Non-distributable reserves | 130/1 | €25,781 | €25,781 | = | 0.0% |
| Legal reserve | 130 | €24,789 | €24,789 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €992 | €992 | = | 0.0% |
| Distributable reserves | 133 | €27,968 | €186,701 | +€158,733 | +567.5% |
| Profit (loss) carried forward | 14 | -€48,162 | €0 | +€48,162 | |
| Amounts payable | 17/49 | €1,203,458 | €1,269,387 | +€65,929 | +5.5% |
| Amounts payable within one year | 42/48 | €1,157,321 | €1,264,165 | +€106,844 | +9.2% |
| Trade debts | 44 | €49,655 | €95,713 | +€46,058 | +92.8% |
| Suppliers | 440/4 | €49,655 | €95,713 | +€46,058 | +92.8% |
| Advances received on contracts in progress | 46 | €31,283 | €0 | -€31,283 | -100.0% |
| Taxes, remuneration and social security | 45 | €135,407 | €116,742 | -€18,665 | -13.8% |
| Taxes | 450/3 | €99,041 | €91,708 | -€7,333 | -7.4% |
| Remuneration and social security | 454/9 | €36,366 | €25,034 | -€11,332 | -31.2% |
| Other amounts payable | 47/48 | €940,976 | €1,051,710 | +€110,733 | +11.8% |
| Accrued charges and deferred income | 492/3 | €46,137 | €5,222 | -€40,915 | -88.7% |
| Non-recurring operating income | 76A | €0 | €6,495 | +€6,495 | |
| Remuneration, social security and pensions | 62 | €235,729 | €276,160 | +€40,431 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,614 | €24,911 | +€4,297 | +20.8% |
| Other operating charges | 640/8 | €28,689 | €28,686 | -€3 | 0.0% |
| Non-recurring operating charges | 66A | €248 | €720 | +€472 | +190.6% |
| Gross operating margin | 9900 | €194,484 | €534,935 | +€340,451 | +175.1% |
| Operating profit (loss) | 9901 | -€90,796 | €204,458 | +€295,254 | |
| Financial income | 75/76B | €48,249 | €45,777 | -€2,473 | -5.1% |
| Recurring financial income | 75 | €48,249 | €45,777 | -€2,473 | -5.1% |
| Financial charges | 65/66B | €5,043 | €6,618 | +€1,575 | +31.2% |
| Recurring financial charges | 65 | €5,043 | €6,618 | +€1,575 | +31.2% |
| Profit (loss) for the period before taxes | 9903 | -€47,590 | €243,616 | +€291,206 | |
| Income taxes | 67/77 | €573 | €36,721 | +€36,148 | +6311.8% |
| Profit (loss) for the period | 9904 | -€48,162 | €206,895 | +€255,057 | |
| Profit (loss) for the period to be appropriated | 9905 | -€48,162 | €206,895 | +€255,057 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.