JORENS: 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.
JORENS
Largest movements
- Financial fixed assets +€1.8m
up €1.8m (+175%), from €1.0m to €2.8m
- Receivables within one year +€145,666
up €145,666 (+260,723%), from €56 to €145,722
- Cash +€49,432
up €49,432 (+296%), from €16,714 to €66,146
mainly Contributions, distributions and other (+€1.8m) and Net result for the year (+€577,490)
- Contributions +€1.8m
up €1.8m (+8,905%), from €20,000 to €1.8m
- Reserves +€577,490
up €577,490 (+10,467%), from €5,517 to €583,007
- Current portion of long-term debt -€316,960
down €316,960 (-77.2%), from €410,627 to €93,668
- Debts after one year -€93,668
down €93,668 (-15.6%), from €601,954 to €508,287
- Financial income +€485,653
up €485,653 (+776,797%), from €63 to €485,716
- Gross operating margin +€133,520
up €133,520 (+985%), from €13,552 to €147,072
- Financial charges +€24,264
up €24,264 (+383%), from €6,331 to €30,594
- Taxes +€22,626
up €22,626 (+1,640%), from €1,379 to €24,006
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 | €1,045,582 | €3,021,042 | +€2.0m | +189% |
| Fixed assets | 21/28 | €1,020,063 | €2,802,174 | +€1.8m | +175% |
| Tangible fixed assets | 22/27 | - | €1,051 | +€1,051 | |
| Furniture and vehicles | 24 | - | €1,051 | +€1,051 | |
| Financial fixed assets | 28 | €1,020,063 | €2,801,123 | +€1.8m | +175% |
| Current assets | 29/58 | €25,520 | €218,868 | +€193,348 | +758% |
| Amounts receivable within one year | 40/41 | €56 | €145,722 | +€145,666 | +260,723% |
| Other amounts receivable | 41 | €56 | €145,722 | +€145,666 | +260,723% |
| Cash at bank and in hand | 54/58 | €16,714 | €66,146 | +€49,432 | +296% |
| Deferred charges and accrued income | 490/1 | €8,750 | €7,000 | -€1,750 | -20.0% |
| Total equity and liabilities | 10/49 | €1,045,582 | €3,021,042 | +€2.0m | +189% |
| Equity | 10/15 | €25,517 | €2,384,067 | +€2.4m | +9,243% |
| Contributions | 10/11 | €20,000 | €1,801,060 | +€1.8m | +8,905% |
| Reserves | 13 | €5,517 | €583,007 | +€577,490 | +10,467% |
| Distributable reserves | 133 | €5,517 | €583,007 | +€577,490 | +10,467% |
| Amounts payable | 17/49 | €1,020,065 | €636,974 | -€383,091 | -37.6% |
| Amounts payable after more than one year | 17 | €601,954 | €508,287 | -€93,668 | -15.6% |
| Financial debts | 170/4 | €601,954 | €508,287 | -€93,668 | -15.6% |
| Amounts payable within one year | 42/48 | €418,111 | €128,688 | -€289,423 | -69.2% |
| Current portion of amounts payable after more than one year | 42 | €410,627 | €93,668 | -€316,960 | -77.2% |
| Trade debts | 44 | - | €1,138 | +€1,138 | |
| Suppliers | 440/4 | - | €1,138 | +€1,138 | |
| Taxes, remuneration and social security | 45 | €7,434 | €33,832 | +€26,399 | +355% |
| Taxes | 450/3 | €7,434 | €33,832 | +€26,399 | +355% |
| Other amounts payable | 47/48 | €50 | €50 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €47 | +€47 | |
| Other operating charges | 640/8 | €387 | €651 | +€264 | +68.1% |
| Gross operating margin | 9900 | €13,552 | €147,072 | +€133,520 | +985% |
| Operating profit (loss) | 9901 | €13,165 | €146,374 | +€133,209 | +1,012% |
| Financial income | 75/76B | €63 | €485,716 | +€485,653 | +776,797% |
| Recurring financial income | 75 | €63 | €485,716 | +€485,653 | +776,797% |
| Financial charges | 65/66B | €6,331 | €30,594 | +€24,264 | +383% |
| Recurring financial charges | 65 | €6,331 | €30,594 | +€24,264 | +383% |
| Profit (loss) for the period before taxes | 9903 | €6,896 | €601,496 | +€594,599 | +8,622% |
| Income taxes | 67/77 | €1,379 | €24,006 | +€22,626 | +1,640% |
| Profit (loss) for the period | 9904 | €5,517 | €577,490 | +€571,973 | +10,367% |
| Profit (loss) for the period to be appropriated | 9905 | €5,517 | €577,490 | +€571,973 | +10,367% |
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 19 October 2026 via checked.be.