JoRoTo: what changed
JoRoTo
Largest movements
- Tangible fixed assets +€431,481
up €431,481 (+149%), from €288,751 to €720,231
of which Land and buildings: +€431,481
- Receivables within one year +€269,602
up €269,602 (+1,039%), from €25,942 to €295,544
of which Trade receivables: +€255,417
- Cash -€43,821
down €43,821 (-65.2%), from €67,218 to €23,397
mainly Investment in fixed assets (net) (-€475,553) and Contributions, distributions and other (-€300,000)
- Other debts +€625,000
up €625,000 (+157%), from €396,868 to €1.0m
- Debts after one year +€240,706
up €240,706 (+809%), from €29,757 to €270,463
- Reserves -€236,000
down €236,000 (-29.7%), from €795,500 to €559,500
- Current portion of long-term debt +€75,942
up €75,942 (+259%), from €29,353 to €105,295
- Advances received -€50,000
down €50,000 (-100%), from €50,000 to €0
- Financial income -€750,000
down €750,000 (-100%), from €750,000 to €0
- Gross operating margin +€42,302
up €42,302 (+55.7%), from €75,888 to €118,190
- Depreciation +€31,463
up €31,463 (+250%), from €12,609 to €44,073
- Taxes -€15,579
down €15,579 (-100%), from €15,579 to €0
- Financial charges +€7,901
up €7,901 (+405%), from €1,952 to €9,852
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,223,519 | €2,880,392 | +€656,873 | +29.5% |
| Fixed assets | 21/28 | €2,128,115 | €2,559,595 | +€431,481 | +20.3% |
| Tangible fixed assets | 22/27 | €288,751 | €720,231 | +€431,481 | +149% |
| Land and buildings | 22 | €288,751 | €720,231 | +€431,481 | +149% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €1,839,364 | €1,839,364 | = | 0.0% |
| Current assets | 29/58 | €95,404 | €320,796 | +€225,392 | +236% |
| Amounts receivable within one year | 40/41 | €25,942 | €295,544 | +€269,602 | +1,039% |
| Trade receivables | 40 | €19,974 | €275,392 | +€255,417 | +1,279% |
| Other amounts receivable | 41 | €5,967 | €20,152 | +€14,185 | +238% |
| Cash at bank and in hand | 54/58 | €67,218 | €23,397 | -€43,821 | -65.2% |
| Deferred charges and accrued income | 490/1 | €2,245 | €1,855 | -€390 | -17.4% |
| Total equity and liabilities | 10/49 | €2,223,519 | €2,880,392 | +€656,873 | +29.5% |
| Equity | 10/15 | €1,652,933 | €1,416,993 | -€235,940 | -14.3% |
| Contributions | 10/11 | €857,143 | €857,143 | = | 0.0% |
| Reserves | 13 | €795,500 | €559,500 | -€236,000 | -29.7% |
| Distributable reserves | 133 | €795,500 | €559,500 | -€236,000 | -29.7% |
| Profit (loss) carried forward | 14 | €290 | €350 | +€60 | +20.6% |
| Amounts payable | 17/49 | €570,587 | €1,463,399 | +€892,813 | +156% |
| Amounts payable after more than one year | 17 | €29,757 | €270,463 | +€240,706 | +809% |
| Financial debts | 170/4 | €29,757 | €270,463 | +€240,706 | +809% |
| Amounts payable within one year | 42/48 | €540,829 | €1,192,936 | +€652,107 | +121% |
| Current portion of amounts payable after more than one year | 42 | €29,353 | €105,295 | +€75,942 | +259% |
| Trade debts | 44 | €64,608 | €48,086 | -€16,522 | -25.6% |
| Suppliers | 440/4 | €64,608 | €48,086 | -€16,522 | -25.6% |
| Advances received on contracts in progress | 46 | €50,000 | €0 | -€50,000 | -100% |
| Taxes, remuneration and social security | 45 | €0 | €17,687 | +€17,687 | |
| Taxes | 450/3 | €0 | €17,687 | +€17,687 | |
| Other amounts payable | 47/48 | €396,868 | €1,021,868 | +€625,000 | +157% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,609 | €44,073 | +€31,463 | +250% |
| Other operating charges | 640/8 | €200 | €205 | +€5 | +2.7% |
| Gross operating margin | 9900 | €75,888 | €118,190 | +€42,302 | +55.7% |
| Operating profit (loss) | 9901 | €63,079 | €73,912 | +€10,833 | +17.2% |
| Financial income | 75/76B | €750,000 | €0 | -€750,000 | -100% |
| Recurring financial income | 75 | €750,000 | €0 | -€750,000 | -100% |
| Financial charges | 65/66B | €1,952 | €9,852 | +€7,901 | +405% |
| Recurring financial charges | 65 | €1,952 | €9,852 | +€7,901 | +405% |
| Profit (loss) for the period before taxes | 9903 | €811,127 | €64,060 | -€747,068 | -92.1% |
| Income taxes | 67/77 | €15,579 | €0 | -€15,579 | -100% |
| Profit (loss) for the period | 9904 | €795,549 | €64,060 | -€731,489 | -91.9% |
| Profit (loss) for the period to be appropriated | 9905 | €795,549 | €64,060 | -€731,489 | -91.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.