JOREX: 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.
JOREX
Largest movements
- Tangible fixed assets +€9,250
up €9,250 (+53.4%), from €17,324 to €26,574
of which Furniture and vehicles: +€11,785
- Cash -€6,493
down €6,493 (-75.0%), from €8,660 to €2,167
mainly Net result for the year (-€36,960) and Investment in fixed assets (net) (-€27,572)
- Receivables within one year +€5,361
up €5,361 (+22.3%), from €24,070 to €29,431
of which Trade receivables: +€7,590
- Debts after one year +€49,473
up €49,473 (+9,388%), from €527 to €50,000
- Profit (loss) carried forward -€20,684
new in 2025: -€20,684
- Reserves -€16,276
no longer reported in 2025 (was €16,276)
- Current portion of long-term debt -€5,765
down €5,765 (-91.6%), from €6,292 to €527
- Tax, wage and social debts +€1,297
up €1,297 (+66.3%), from €1,957 to €3,254
of which Remuneration and social security: +€2,610
- Gross operating margin -€14,369
down €14,369 (-814%), from -€1,766 to -€16,135
- Financial charges +€606
up €606 (+281%), from €216 to €822
- Other operating charges +€263
up €263 (+22.7%), from €1,160 to €1,423
- Depreciation +€218
up €218 (+1.2%), from €18,104 to €18,322
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 | €50,070 | €58,188 | +€8,118 | +16.2% |
| Fixed assets | 21/28 | €17,324 | €26,574 | +€9,250 | +53.4% |
| Tangible fixed assets | 22/27 | €17,324 | €26,574 | +€9,250 | +53.4% |
| Plant, machinery and equipment | 23 | €4,023 | €1,488 | -€2,535 | -63.0% |
| Furniture and vehicles | 24 | €13,301 | €25,086 | +€11,785 | +88.6% |
| Current assets | 29/58 | €32,746 | €31,614 | -€1,132 | -3.5% |
| Amounts receivable within one year | 40/41 | €24,070 | €29,431 | +€5,361 | +22.3% |
| Trade receivables | 40 | €21,806 | €29,396 | +€7,590 | +34.8% |
| Other amounts receivable | 41 | €2,264 | €35 | -€2,229 | -98.5% |
| Cash at bank and in hand | 54/58 | €8,660 | €2,167 | -€6,493 | -75.0% |
| Deferred charges and accrued income | 490/1 | €16 | €16 | = | 0.0% |
| Total equity and liabilities | 10/49 | €50,070 | €58,188 | +€8,118 | +16.2% |
| Equity | 10/15 | €36,276 | -€684 | -€36,960 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €16,276 | - | -€16,276 | |
| Distributable reserves | 133 | €16,276 | - | -€16,276 | |
| Profit (loss) carried forward | 14 | - | -€20,684 | -€20,684 | |
| Amounts payable | 17/49 | €13,794 | €58,872 | +€45,078 | +327% |
| Amounts payable after more than one year | 17 | €527 | €50,000 | +€49,473 | +9,388% |
| Financial debts | 170/4 | €527 | €50,000 | +€49,473 | +9,388% |
| Amounts payable within one year | 42/48 | €13,267 | €8,165 | -€5,102 | -38.5% |
| Current portion of amounts payable after more than one year | 42 | €6,292 | €527 | -€5,765 | -91.6% |
| Trade debts | 44 | €2,518 | €1,884 | -€634 | -25.2% |
| Suppliers | 440/4 | €2,518 | €1,884 | -€634 | -25.2% |
| Taxes, remuneration and social security | 45 | €1,957 | €3,254 | +€1,297 | +66.3% |
| Taxes | 450/3 | €1,957 | €644 | -€1,313 | -67.1% |
| Remuneration and social security | 454/9 | - | €2,610 | +€2,610 | |
| Other amounts payable | 47/48 | €2,500 | €2,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €707 | +€707 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,104 | €18,322 | +€218 | +1.2% |
| Other operating charges | 640/8 | €1,160 | €1,423 | +€263 | +22.7% |
| Non-recurring operating charges | 66A | €968 | - | -€968 | |
| Gross operating margin | 9900 | -€1,766 | -€16,135 | -€14,369 | -814% |
| Operating profit (loss) | 9901 | -€21,998 | -€35,880 | -€13,882 | -63.1% |
| Financial income | 75/76B | €24 | €85 | +€61 | +254% |
| Recurring financial income | 75 | €24 | €85 | +€61 | +254% |
| Financial charges | 65/66B | €216 | €822 | +€606 | +281% |
| Recurring financial charges | 65 | €216 | €822 | +€606 | +281% |
| Profit (loss) for the period before taxes | 9903 | -€22,190 | -€36,617 | -€14,427 | -65.0% |
| Income taxes | 67/77 | €340 | €343 | +€3 | +0.9% |
| Profit (loss) for the period | 9904 | -€22,530 | -€36,960 | -€14,430 | -64.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,530 | -€36,960 | -€14,430 | -64.0% |
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 29 October 2026 via checked.be.