JOSA: what changed
Two fiscal 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.
JOSA
Largest movements
- Cash +€11,609
up €11,609 (+33.9%), from €34,204 to €45,813
mainly Net result for the year (+€14,771) and Depreciation (+€1,847)
- Reserves +€14,771
up €14,771 (+73.7%), from €20,051 to €34,822
- Trade debts -€1,788
down €1,788 (-26.7%), from €6,691 to €4,903
- Gross operating margin -€3,001
down €3,001 (-3.0%), from €99,936 to €96,936
- Staff costs +€1,137
up €1,137 (+1.6%), from €70,162 to €71,299
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 | €53,278 | €65,735 | +€12,457 | +23.4% |
| Fixed assets | 21/28 | €11,555 | €11,832 | +€277 | +2.4% |
| Tangible fixed assets | 22/27 | €4,555 | €4,832 | +€277 | +6.1% |
| Plant, machinery and equipment | 23 | €4,555 | €2,867 | -€1,688 | -37.1% |
| Furniture and vehicles | 24 | - | €1,965 | +€1,965 | |
| Financial fixed assets | 28 | €7,000 | €7,000 | = | 0.0% |
| Current assets | 29/58 | €41,723 | €53,903 | +€12,181 | +29.2% |
| Amounts receivable within one year | 40/41 | €6,986 | €7,557 | +€571 | +8.2% |
| Trade receivables | 40 | €1,505 | €1,637 | +€132 | +8.7% |
| Other amounts receivable | 41 | €5,481 | €5,921 | +€440 | +8.0% |
| Cash at bank and in hand | 54/58 | €34,204 | €45,813 | +€11,609 | +33.9% |
| Deferred charges and accrued income | 490/1 | €533 | €533 | = | 0.0% |
| Total equity and liabilities | 10/49 | €53,278 | €65,735 | +€12,457 | +23.4% |
| Equity | 10/15 | €28,051 | €42,822 | +€14,771 | +52.7% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €20,051 | €34,822 | +€14,771 | +73.7% |
| Distributable reserves | 133 | €20,051 | €34,822 | +€14,771 | +73.7% |
| Amounts payable | 17/49 | €25,227 | €22,913 | -€2,313 | -9.2% |
| Amounts payable within one year | 42/48 | €25,136 | €22,822 | -€2,313 | -9.2% |
| Trade debts | 44 | €6,691 | €4,903 | -€1,788 | -26.7% |
| Suppliers | 440/4 | €6,691 | €4,903 | -€1,788 | -26.7% |
| Taxes, remuneration and social security | 45 | €16,778 | €16,841 | +€63 | +0.4% |
| Taxes | 450/3 | €6,366 | €9,242 | +€2,876 | +45.2% |
| Remuneration and social security | 454/9 | €10,413 | €7,600 | -€2,813 | -27.0% |
| Other amounts payable | 47/48 | €1,666 | €1,078 | -€588 | -35.3% |
| Accrued charges and deferred income | 492/3 | €91 | €91 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €70,162 | €71,299 | +€1,137 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,688 | €1,847 | +€159 | +9.4% |
| Other operating charges | 640/8 | €1,337 | €1,101 | -€237 | -17.7% |
| Gross operating margin | 9900 | €99,936 | €96,936 | -€3,001 | -3.0% |
| Operating profit (loss) | 9901 | €26,749 | €22,688 | -€4,060 | -15.2% |
| Financial income | 75/76B | €320 | €132 | -€189 | -58.9% |
| Recurring financial income | 75 | €320 | €132 | -€189 | -58.9% |
| Financial charges | 65/66B | €243 | €298 | +€55 | +22.8% |
| Recurring financial charges | 65 | €243 | €298 | +€55 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €26,826 | €22,522 | -€4,304 | -16.0% |
| Income taxes | 67/77 | €6,775 | €7,751 | +€977 | +14.4% |
| Profit (loss) for the period | 9904 | €20,051 | €14,771 | -€5,281 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,051 | €14,771 | -€5,281 | -26.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.