JOSA DELIVERY: 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.
What changed
JOSA DELIVERY
NACE 28.250, Manufacture of machinery and equipment not elsewhere classified
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€194,549
2024 · -€162,166+€356,715
Equity
€113,019
2024 · -€81,530+€194,549
Cash
€2,589
2024 · €10,634-€8,045
Balance sheet total
€976,194
2024 · €1.1m-€141,958
Largest movements
Assets
- Stocks and contracts -€74,136
no longer reported in 2025 (was €74,136)
- Tangible fixed assets -€64,355
down €64,355 (-7.5%), from €856,453 to €792,097
Equity and liabilities
- Trade debts -€200,258
down €200,258 (-72.7%), from €275,524 to €75,266
- Profit (loss) carried forward +€128,487
no longer reported in 2025 (was -€128,487)
- Debts after one year -€93,453
down €93,453 (-16.8%), from €555,190 to €461,737
- Reserves +€66,062
up €66,062 (+360%), from €18,357 to €84,419
- Other debts -€13,996
down €13,996 (-12.0%), from €117,089 to €103,093
Income statement
- Gross operating margin +€180,037
up €180,037 (+53.6%), from €335,764 to €515,801
- Staff costs -€123,320
down €123,320 (-37.5%), from €328,597 to €205,277
- Write-downs -€59,913
down €59,913 (-79.6%), from €75,258 to €15,346
- Taxes +€13,192
up €13,192 (+1,591%), from €829 to €14,020
- Financial charges -€6,606
down €6,606 (-24.4%), from €27,075 to €20,469
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.
Result 2024
-€162,166
Gross operating margin
+€180,037
Staff costs
+€123,320
Depreciation
-€735
Write-downs
+€59,913
Other operating charges
+€2,967
Financial income
-€2,202
Financial charges
+€6,606
Taxes
-€13,192
Result 2025
€194,549
raises the resultlowers the result
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.
From operations
+€100,709
Investment
+€1,316
Financing
-€110,070
Cash 2024
€10,634
From operations (derived)
+€100,709
Net result for the year
+€194,549
Depreciation
+€63,039
Stocks and contracts
+€74,136
Receivables within one year
-€5,482
Deferred charges and accrued income
+€903
Trade debts
-€200,258
Tax, wage and social debts
-€12,182
Other debts
-€13,996
Investment (derived)
+€1,316
Investment in fixed assets (net)
+€1,316
Financing
-€110,070
Debts after one year
-€93,453
Current portion of long-term debt
-€7,614
Short-term financial debts
-€9,003
Cash 2025
€2,589
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,118,152 | €976,194 | -€141,958 | -12.7% |
| Fixed assets | 21/28 | €857,035 | €792,679 | -€64,355 | -7.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €856,453 | €792,097 | -€64,355 | -7.5% |
| Land and buildings | 22 | €617,898 | €587,360 | -€30,539 | -4.9% |
| Plant, machinery and equipment | 23 | €232,802 | €203,071 | -€29,731 | -12.8% |
| Furniture and vehicles | 24 | €5,752 | €1,666 | -€4,086 | -71.0% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €582 | €582 | = | 0.0% |
| Current assets | 29/58 | €261,117 | €183,515 | -€77,603 | -29.7% |
| Stocks and contracts in progress | 3 | €74,136 | - | -€74,136 | |
| Stocks | 30/36 | €74,136 | - | -€74,136 | |
| Amounts receivable within one year | 40/41 | €175,443 | €180,926 | +€5,482 | +3.1% |
| Trade receivables | 40 | €172,459 | €174,712 | +€2,253 | +1.3% |
| Other amounts receivable | 41 | €2,984 | €6,213 | +€3,229 | +108% |
| Cash at bank and in hand | 54/58 | €10,634 | €2,589 | -€8,045 | -75.7% |
| Deferred charges and accrued income | 490/1 | €903 | - | -€903 | |
| Total equity and liabilities | 10/49 | €1,118,152 | €976,194 | -€141,958 | -12.7% |
| Equity | 10/15 | -€81,530 | €113,019 | +€194,549 | |
| Contributions | 10/11 | €28,600 | €28,600 | = | 0.0% |
| Reserves | 13 | €18,357 | €84,419 | +€66,062 | +360% |
| Distributable reserves | 133 | €18,357 | €84,419 | +€66,062 | +360% |
| Profit (loss) carried forward | 14 | -€128,487 | - | +€128,487 | |
| Amounts payable | 17/49 | €1,199,682 | €863,175 | -€336,507 | -28.0% |
| Amounts payable after more than one year | 17 | €555,190 | €461,737 | -€93,453 | -16.8% |
| Financial debts | 170/4 | €555,190 | €461,737 | -€93,453 | -16.8% |
| Amounts payable within one year | 42/48 | €642,929 | €399,875 | -€243,054 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €101,067 | €93,453 | -€7,614 | -7.5% |
| Financial debts | 43 | €97,729 | €88,725 | -€9,003 | -9.2% |
| Credit institutions | 430/8 | €97,729 | €88,725 | -€9,003 | -9.2% |
| Trade debts | 44 | €275,524 | €75,266 | -€200,258 | -72.7% |
| Suppliers | 440/4 | €275,524 | €75,266 | -€200,258 | -72.7% |
| Taxes, remuneration and social security | 45 | €51,521 | €39,338 | -€12,182 | -23.6% |
| Taxes | 450/3 | €6,417 | €14,839 | +€8,422 | +131% |
| Remuneration and social security | 454/9 | €45,104 | €24,499 | -€20,605 | -45.7% |
| Other amounts payable | 47/48 | €117,089 | €103,093 | -€13,996 | -12.0% |
| Accrued charges and deferred income | 492/3 | €1,563 | €1,563 | = | 0.0% |
| Non-recurring operating income | 76A | €22,346 | €267,681 | +€245,335 | +1,098% |
| Remuneration, social security and pensions | 62 | €328,597 | €205,277 | -€123,320 | -37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,304 | €63,039 | +€735 | +1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €75,258 | €15,346 | -€59,913 | -79.6% |
| Other operating charges | 640/8 | €8,079 | €5,112 | -€2,967 | -36.7% |
| Gross operating margin | 9900 | €335,764 | €515,801 | +€180,037 | +53.6% |
| Operating profit (loss) | 9901 | -€138,474 | €227,028 | +€365,502 | |
| Financial income | 75/76B | €4,212 | €2,010 | -€2,202 | -52.3% |
| Recurring financial income | 75 | €4,212 | €2,010 | -€2,202 | -52.3% |
| Financial charges | 65/66B | €27,075 | €20,469 | -€6,606 | -24.4% |
| Recurring financial charges | 65 | €27,075 | €20,469 | -€6,606 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | -€161,337 | €208,569 | +€369,907 | |
| Income taxes | 67/77 | €829 | €14,020 | +€13,192 | +1,591% |
| Profit (loss) for the period | 9904 | -€162,166 | €194,549 | +€356,715 | |
| Profit (loss) for the period to be appropriated | 9905 | -€162,166 | €194,549 | +€356,715 |
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 31 October 2026 via checked.be.