JOSAIM: 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.
JOSAIM
Largest movements
- Cash +€339,640
up €339,640 (+125.5%), from €270,528 to €610,168
mainly Net result for the year (+€196,503) and Current investments (+€100,000)
- Current investments -€100,000
down €100,000 (-99.2%), from €100,776 to €776
- Tangible fixed assets -€33,296
down €33,296 (-4.9%), from €675,905 to €642,609
of which Land and buildings: -€42,496
- Receivables within one year +€20,092
up €20,092 (+721.3%), from €2,786 to €22,877
- Profit (loss) carried forward +€196,503
up €196,503 (+46.3%), from €424,171 to €620,674
- Tax, wage and social debts +€44,516
up €44,516 (+173.4%), from €25,667 to €70,183
- Debts after one year -€20,414
down €20,414 (-14.0%), from €146,041 to €125,627
of which Financial debts: -€20,414
- Gross operating margin +€209,864
up €209,864 (+174.5%), from €120,239 to €330,103
- Taxes +€55,516
up €55,516 (+390.6%), from €14,214 to €69,730
- Financial income +€4,303
new in 2025: €4,303
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 | €1,052,477 | €1,276,830 | +€224,353 | +21.3% |
| Fixed assets | 21/28 | €676,305 | €643,009 | -€33,296 | -4.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €675,905 | €642,609 | -€33,296 | -4.9% |
| Land and buildings | 22 | €646,509 | €604,013 | -€42,496 | -6.6% |
| Plant, machinery and equipment | 23 | €27,766 | €36,593 | +€8,826 | +31.8% |
| Furniture and vehicles | 24 | €1,629 | €2,003 | +€374 | +22.9% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €376,172 | €633,821 | +€257,649 | +68.5% |
| Amounts receivable within one year | 40/41 | €2,786 | €22,877 | +€20,092 | +721.3% |
| Trade receivables | 40 | €2,786 | €22,877 | +€20,092 | +721.3% |
| Current investments | 50/53 | €100,776 | €776 | -€100,000 | -99.2% |
| Cash at bank and in hand | 54/58 | €270,528 | €610,168 | +€339,640 | +125.5% |
| Deferred charges and accrued income | 490/1 | €2,082 | €0 | -€2,082 | -100.0% |
| Total equity and liabilities | 10/49 | €1,052,477 | €1,276,830 | +€224,353 | +21.3% |
| Equity | 10/15 | €698,233 | €894,736 | +€196,503 | +28.1% |
| Contributions | 10/11 | €249,147 | €249,147 | = | 0.0% |
| Capital | 10 | €249,147 | €249,147 | = | 0.0% |
| Issued capital | 100 | €249,147 | €249,147 | = | 0.0% |
| Reserves | 13 | €24,915 | €24,915 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,915 | €24,915 | = | 0.0% |
| Legal reserve | 130 | €24,915 | €24,915 | = | 0.0% |
| Profit (loss) carried forward | 14 | €424,171 | €620,674 | +€196,503 | +46.3% |
| Amounts payable | 17/49 | €354,244 | €382,094 | +€27,850 | +7.9% |
| Amounts payable after more than one year | 17 | €146,041 | €125,627 | -€20,414 | -14.0% |
| Financial debts | 170/4 | €46,884 | €26,469 | -€20,414 | -43.5% |
| Advances received on contracts in progress | 176 | €99,157 | €99,157 | = | 0.0% |
| Amounts payable within one year | 42/48 | €208,203 | €256,467 | +€48,264 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €9,849 | €10,137 | +€288 | +2.9% |
| Trade debts | 44 | €1,220 | €4,734 | +€3,514 | +287.9% |
| Suppliers | 440/4 | €1,220 | €4,734 | +€3,514 | +287.9% |
| Taxes, remuneration and social security | 45 | €25,667 | €70,183 | +€44,516 | +173.4% |
| Taxes | 450/3 | €25,667 | €70,183 | +€44,516 | +173.4% |
| Other amounts payable | 47/48 | €171,468 | €171,413 | -€54 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,687 | €50,264 | -€2,423 | -4.6% |
| Other operating charges | 640/8 | €14,268 | €16,089 | +€1,821 | +12.8% |
| Gross operating margin | 9900 | €120,239 | €330,103 | +€209,864 | +174.5% |
| Operating profit (loss) | 9901 | €53,284 | €263,750 | +€210,465 | +395.0% |
| Financial income | 75/76B | - | €4,303 | +€4,303 | |
| Recurring financial income | 75 | - | €4,303 | +€4,303 | |
| Financial charges | 65/66B | €81 | €1,820 | +€1,739 | +2145.0% |
| Recurring financial charges | 65 | €81 | €1,820 | +€1,739 | +2145.0% |
| Profit (loss) for the period before taxes | 9903 | €53,203 | €266,233 | +€213,030 | +400.4% |
| Income taxes | 67/77 | €14,214 | €69,730 | +€55,516 | +390.6% |
| Profit (loss) for the period | 9904 | €38,989 | €196,503 | +€157,514 | +404.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,989 | €196,503 | +€157,514 | +404.0% |
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 30 September 2026 via checked.be.