JORESTATE: 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.
JORESTATE
Largest movements
- Receivables within one year -€390,319
down €390,319 (-95.6%), from €408,301 to €17,982
of which Trade receivables: -€381,521
- Receivables after one year -€199,500
no longer reported in 2025 (was €199,500)
- Stocks and contracts +€83,946
up €83,946 (+559.6%), from €15,000 to €98,946
of which Stocks: +€98,946
- Tangible fixed assets -€53,884
down €53,884 (-5.2%), from €1.0m to €988,160
of which Land and buildings: -€36,607
- Reserves -€206,571
down €206,571 (-47.8%), from €432,475 to €225,903
of which Distributable reserves: -€206,571
- Accrued charges and deferred income -€143,830
down €143,830 (-92.7%), from €155,140 to €11,310
- Other debts -€77,929
down €77,929 (-76.8%), from €101,534 to €23,606
- Debts after one year -€63,084
down €63,084 (-8.0%), from €789,203 to €726,119
- Trade debts -€53,662
down €53,662 (-60.4%), from €88,903 to €35,241
- Financial charges -€33,792
down €33,792 (-48.5%), from €69,740 to €35,949
- Other operating charges -€24,244
down €24,244 (-72.3%), from €33,521 to €9,277
- Taxes +€18,132
up €18,132 (+85.3%), from €21,256 to €39,387
- Gross operating margin +€5,436
up €5,436 (+2.6%), from €208,844 to €214,280
- Depreciation -€3,591
down €3,591 (-7.1%), from €50,632 to €47,040
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 | €1,698,331 | €1,154,351 | -€543,980 | -32.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,042,444 | €988,560 | -€53,884 | -5.2% |
| Tangible fixed assets | 22/27 | €1,042,044 | €988,160 | -€53,884 | -5.2% |
| Land and buildings | 22 | €954,884 | €918,277 | -€36,607 | -3.8% |
| Plant, machinery and equipment | 23 | €14,888 | €6,277 | -€8,611 | -57.8% |
| Furniture and vehicles | 24 | €12,629 | €3,964 | -€8,666 | -68.6% |
| Other tangible fixed assets | 26 | €59,643 | €59,643 | = | 0.0% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €655,886 | €165,791 | -€490,096 | -74.7% |
| Amounts receivable after more than one year | 29 | €199,500 | - | -€199,500 | |
| Other amounts receivable | 291 | €199,500 | - | -€199,500 | |
| Stocks and contracts in progress | 3 | €15,000 | €98,946 | +€83,946 | +559.6% |
| Stocks | 30/36 | - | €98,946 | +€98,946 | |
| Contracts in progress | 37 | €15,000 | - | -€15,000 | |
| Amounts receivable within one year | 40/41 | €408,301 | €17,982 | -€390,319 | -95.6% |
| Trade receivables | 40 | €395,132 | €13,610 | -€381,521 | -96.6% |
| Other amounts receivable | 41 | €13,169 | €4,372 | -€8,797 | -66.8% |
| Cash at bank and in hand | 54/58 | €26,952 | €40,772 | +€13,820 | +51.3% |
| Deferred charges and accrued income | 490/1 | €6,134 | €8,091 | +€1,957 | +31.9% |
| Total equity and liabilities | 10/49 | €1,698,331 | €1,154,351 | -€543,980 | -32.0% |
| Equity | 10/15 | €438,675 | €232,103 | -€206,571 | -47.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €432,475 | €225,903 | -€206,571 | -47.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €430,615 | €224,043 | -€206,571 | -48.0% |
| Amounts payable | 17/49 | €1,259,656 | €922,248 | -€337,408 | -26.8% |
| Amounts payable after more than one year | 17 | €789,203 | €726,119 | -€63,084 | -8.0% |
| Financial debts | 170/4 | €789,203 | €726,119 | -€63,084 | -8.0% |
| Amounts payable within one year | 42/48 | €315,313 | €184,819 | -€130,494 | -41.4% |
| Current portion of amounts payable after more than one year | 42 | €63,241 | €63,084 | -€156 | -0.2% |
| Financial debts | 43 | €18,371 | €34,628 | +€16,257 | +88.5% |
| Credit institutions | 430/8 | €18,371 | €34,628 | +€16,257 | +88.5% |
| Trade debts | 44 | €88,903 | €35,241 | -€53,662 | -60.4% |
| Suppliers | 440/4 | €88,903 | €35,241 | -€53,662 | -60.4% |
| Taxes, remuneration and social security | 45 | €43,264 | €28,260 | -€15,004 | -34.7% |
| Taxes | 450/3 | €43,264 | €28,260 | -€15,004 | -34.7% |
| Other amounts payable | 47/48 | €101,534 | €23,606 | -€77,929 | -76.8% |
| Accrued charges and deferred income | 492/3 | €155,140 | €11,310 | -€143,830 | -92.7% |
| Non-recurring operating income | 76A | €19,557 | €556 | -€19,001 | -97.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,632 | €47,040 | -€3,591 | -7.1% |
| Other operating charges | 640/8 | €33,521 | €9,277 | -€24,244 | -72.3% |
| Gross operating margin | 9900 | €208,844 | €214,280 | +€5,436 | +2.6% |
| Operating profit (loss) | 9901 | €124,690 | €157,963 | +€33,272 | +26.7% |
| Financial income | 75/76B | €4,799 | €3,958 | -€841 | -17.5% |
| Recurring financial income | 75 | €4,799 | €3,958 | -€841 | -17.5% |
| Financial charges | 65/66B | €69,740 | €35,949 | -€33,792 | -48.5% |
| Recurring financial charges | 65 | €69,740 | €35,949 | -€33,792 | -48.5% |
| Profit (loss) for the period before taxes | 9903 | €59,749 | €125,972 | +€66,223 | +110.8% |
| Income taxes | 67/77 | €21,256 | €39,387 | +€18,132 | +85.3% |
| Profit (loss) for the period | 9904 | €38,493 | €86,585 | +€48,091 | +124.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,493 | €86,585 | +€48,091 | +124.9% |
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 11 October 2026 via checked.be.