JORGER: 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.
JORGER
Largest movements
- Cash +€52,368
up €52,368 (+26.5%), from €197,447 to €249,816
mainly Net result for the year (+€55,048) and Depreciation (+€48,999)
- Intangible fixed assets -€26,000
down €26,000 (-60.8%), from €42,740 to €16,740
- Tangible fixed assets -€15,337
down €15,337 (-15.6%), from €98,571 to €83,234
of which Leasing and similar rights: -€17,759
- Stocks and contracts +€4,194
up €4,194 (+86.9%), from €4,823 to €9,017
- Reserves +€55,048
up €55,048 (+45.4%), from €121,367 to €176,415
- Debts after one year -€40,990
down €40,990 (-43.0%), from €95,408 to €54,418
of which Financial debts: -€40,990
- Trade debts -€8,540
down €8,540 (-41.9%), from €20,380 to €11,840
- Other debts +€5,299
up €5,299 (+13.6%), from €38,880 to €44,179
- Short-term financial debts +€5,120
new in 2025: €5,120
- Gross operating margin -€10,991
down €10,991 (-7.2%), from €152,451 to €141,461
- Taxes -€6,433
down €6,433 (-23.4%), from €27,442 to €21,008
- Financial charges -€2,789
down €2,789 (-41.1%), from €6,786 to €3,998
- Depreciation +€2,404
up €2,404 (+5.2%), from €46,595 to €48,999
- Other operating charges -€1,564
down €1,564 (-30.4%), from €5,142 to €3,578
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 | €357,777 | €370,617 | +€12,840 | +3.6% |
| Fixed assets | 21/28 | €145,061 | €103,724 | -€41,337 | -28.5% |
| Intangible fixed assets | 21 | €42,740 | €16,740 | -€26,000 | -60.8% |
| Tangible fixed assets | 22/27 | €98,571 | €83,234 | -€15,337 | -15.6% |
| Land and buildings | 22 | €34,146 | €29,980 | -€4,166 | -12.2% |
| Plant, machinery and equipment | 23 | - | €6,910 | +€6,910 | |
| Furniture and vehicles | 24 | €1,284 | €962 | -€322 | -25.1% |
| Leasing and similar rights | 25 | €63,141 | €45,382 | -€17,759 | -28.1% |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €212,717 | €266,893 | +€54,176 | +25.5% |
| Stocks and contracts in progress | 3 | €4,823 | €9,017 | +€4,194 | +86.9% |
| Stocks | 30/36 | €4,823 | €9,017 | +€4,194 | +86.9% |
| Amounts receivable within one year | 40/41 | €7,294 | €6,596 | -€698 | -9.6% |
| Trade receivables | 40 | - | €158 | +€158 | |
| Other amounts receivable | 41 | €7,294 | €6,438 | -€856 | -11.7% |
| Cash at bank and in hand | 54/58 | €197,447 | €249,816 | +€52,368 | +26.5% |
| Deferred charges and accrued income | 490/1 | €3,152 | €1,465 | -€1,687 | -53.5% |
| Total equity and liabilities | 10/49 | €357,777 | €370,617 | +€12,840 | +3.6% |
| Equity | 10/15 | €126,367 | €181,415 | +€55,048 | +43.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €121,367 | €176,415 | +€55,048 | +45.4% |
| Distributable reserves | 133 | €121,367 | €176,415 | +€55,048 | +45.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €231,411 | €189,202 | -€42,209 | -18.2% |
| Amounts payable after more than one year | 17 | €95,408 | €54,418 | -€40,990 | -43.0% |
| Financial debts | 170/4 | €95,334 | €54,344 | -€40,990 | -43.0% |
| Other amounts payable | 178/9 | €74 | €74 | = | 0.0% |
| Amounts payable within one year | 42/48 | €131,974 | €134,784 | +€2,810 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €43,696 | €46,277 | +€2,581 | +5.9% |
| Financial debts | 43 | - | €5,120 | +€5,120 | |
| Credit institutions | 430/8 | - | €5,120 | +€5,120 | |
| Trade debts | 44 | €20,380 | €11,840 | -€8,540 | -41.9% |
| Suppliers | 440/4 | €20,380 | €11,840 | -€8,540 | -41.9% |
| Taxes, remuneration and social security | 45 | €29,018 | €27,368 | -€1,650 | -5.7% |
| Taxes | 450/3 | €27,368 | €27,368 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,650 | €0 | -€1,650 | -100% |
| Other amounts payable | 47/48 | €38,880 | €44,179 | +€5,299 | +13.6% |
| Accrued charges and deferred income | 492/3 | €4,029 | €0 | -€4,029 | -100% |
| Remuneration, social security and pensions | 62 | €8,753 | €9,619 | +€866 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,595 | €48,999 | +€2,404 | +5.2% |
| Other operating charges | 640/8 | €5,142 | €3,578 | -€1,564 | -30.4% |
| Gross operating margin | 9900 | €152,451 | €141,461 | -€10,991 | -7.2% |
| Operating profit (loss) | 9901 | €91,962 | €79,265 | -€12,696 | -13.8% |
| Financial income | 75/76B | €563 | €789 | +€226 | +40.2% |
| Recurring financial income | 75 | €563 | €789 | +€226 | +40.2% |
| Financial charges | 65/66B | €6,786 | €3,998 | -€2,789 | -41.1% |
| Recurring financial charges | 65 | €6,786 | €3,998 | -€2,789 | -41.1% |
| Profit (loss) for the period before taxes | 9903 | €85,738 | €76,057 | -€9,682 | -11.3% |
| Income taxes | 67/77 | €27,442 | €21,008 | -€6,433 | -23.4% |
| Profit (loss) for the period | 9904 | €58,297 | €55,048 | -€3,248 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,297 | €55,048 | -€3,248 | -5.6% |
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 14 October 2026 via checked.be.