JOSAL: 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.
JOSAL
Largest movements
- Receivables within one year +€154,883
up €154,883 (+456.6%), from €33,921 to €188,803
of which Trade receivables: +€94,932
- Tangible fixed assets -€22,741
down €22,741 (-14.8%), from €153,868 to €131,127
of which Furniture and vehicles: -€25,860
- Cash -€13,441
down €13,441 (-25.2%), from €53,353 to €39,911
mainly Receivables within one year (-€154,883) and Contributions, distributions and other (-€58,824)
- Tax, wage and social debts +€97,613
up €97,613 (+130.4%), from €74,847 to €172,460
of which Remuneration and social security: +€50,892
- Profit (loss) carried forward +€49,495
up €49,495 (+129.3%), from €38,286 to €87,781
- Debts after one year -€17,919
down €17,919 (-32.0%), from €56,074 to €38,155
- Trade debts -€13,316
down €13,316 (-10.7%), from €124,323 to €111,006
- Gross operating margin +€75,437
up €75,437 (+35.7%), from €211,108 to €286,545
- Staff costs +€24,356
up €24,356 (+43.9%), from €55,496 to €79,852
- Taxes +€18,453
up €18,453 (+67.4%), from €27,372 to €45,825
- Financial charges -€5,893
down €5,893 (-64.6%), from €9,123 to €3,229
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 | €315,718 | €432,321 | +€116,603 | +36.9% |
| Fixed assets | 21/28 | €154,968 | €132,227 | -€22,741 | -14.7% |
| Tangible fixed assets | 22/27 | €153,868 | €131,127 | -€22,741 | -14.8% |
| Plant, machinery and equipment | 23 | €12,185 | €15,304 | +€3,119 | +25.6% |
| Furniture and vehicles | 24 | €141,682 | €115,823 | -€25,860 | -18.3% |
| Financial fixed assets | 28 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €160,751 | €300,094 | +€139,344 | +86.7% |
| Stocks and contracts in progress | 3 | €70,685 | €70,685 | = | 0.0% |
| Stocks | 30/36 | €70,685 | €70,685 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €33,921 | €188,803 | +€154,883 | +456.6% |
| Trade receivables | 40 | €3,164 | €98,096 | +€94,932 | +3000.4% |
| Other amounts receivable | 41 | €30,757 | €90,707 | +€59,950 | +194.9% |
| Cash at bank and in hand | 54/58 | €53,353 | €39,911 | -€13,441 | -25.2% |
| Deferred charges and accrued income | 490/1 | €2,792 | €694 | -€2,098 | -75.1% |
| Total equity and liabilities | 10/49 | €315,718 | €432,321 | +€116,603 | +36.9% |
| Equity | 10/15 | €43,286 | €92,781 | +€49,495 | +114.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,286 | €87,781 | +€49,495 | +129.3% |
| Amounts payable | 17/49 | €272,432 | €339,540 | +€67,108 | +24.6% |
| Amounts payable after more than one year | 17 | €56,074 | €38,155 | -€17,919 | -32.0% |
| Financial debts | 170/4 | €56,074 | €38,155 | -€17,919 | -32.0% |
| Amounts payable within one year | 42/48 | €216,359 | €301,385 | +€85,027 | +39.3% |
| Current portion of amounts payable after more than one year | 42 | €17,189 | €17,919 | +€730 | +4.2% |
| Trade debts | 44 | €124,323 | €111,006 | -€13,316 | -10.7% |
| Suppliers | 440/4 | €124,323 | €111,006 | -€13,316 | -10.7% |
| Taxes, remuneration and social security | 45 | €74,847 | €172,460 | +€97,613 | +130.4% |
| Taxes | 450/3 | €65,339 | €112,059 | +€46,720 | +71.5% |
| Remuneration and social security | 454/9 | €9,508 | €60,400 | +€50,892 | +535.3% |
| Non-recurring operating income | 76A | €6,246 | €11,660 | +€5,413 | +86.7% |
| Remuneration, social security and pensions | 62 | €55,496 | €79,852 | +€24,356 | +43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,732 | €45,637 | +€1,905 | +4.4% |
| Other operating charges | 640/8 | €1,275 | €3,691 | +€2,416 | +189.5% |
| Gross operating margin | 9900 | €211,108 | €286,545 | +€75,437 | +35.7% |
| Operating profit (loss) | 9901 | €110,605 | €157,364 | +€46,760 | +42.3% |
| Financial income | 75/76B | €3 | €9 | +€6 | +197.7% |
| Recurring financial income | 75 | €3 | €9 | +€6 | +197.7% |
| Financial charges | 65/66B | €9,123 | €3,229 | -€5,893 | -64.6% |
| Recurring financial charges | 65 | €9,123 | €3,229 | -€5,893 | -64.6% |
| Profit (loss) for the period before taxes | 9903 | €101,485 | €154,144 | +€52,659 | +51.9% |
| Income taxes | 67/77 | €27,372 | €45,825 | +€18,453 | +67.4% |
| Profit (loss) for the period | 9904 | €74,113 | €108,319 | +€34,206 | +46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €74,113 | €108,319 | +€34,206 | +46.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.