JOSARO: 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.
JOSARO
Largest movements
- Receivables within one year +€38,275
up €38,275 (+315.7%), from €12,126 to €50,401
of which Trade receivables: +€29,746
- Tangible fixed assets -€35,738
down €35,738 (-15.3%), from €233,750 to €198,011
of which Leasing and similar rights: -€25,061
- Cash -€29,575
down €29,575 (-17.9%), from €165,641 to €136,065
mainly Contributions, distributions and other (-€46,518) and Receivables within one year (-€38,275)
- Current investments +€25,173
up €25,173 (+25.4%), from €99,201 to €124,374
- Current portion of long-term debt -€7,140
down €7,140 (-100.0%), from €7,140 to €0
- Reserves +€6,839
up €6,839 (+1.4%), from €473,818 to €480,657
of which Distributable reserves: +€6,839
- Gross operating margin -€76,251
down €76,251 (-39.5%), from €193,011 to €116,760
- Taxes -€24,013
down €24,013 (-52.2%), from €45,986 to €21,973
- Depreciation +€4,416
up €4,416 (+11.9%), from €37,045 to €41,461
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 | €514,586 | €510,080 | -€4,507 | -0.9% |
| Fixed assets | 21/28 | €233,750 | €198,011 | -€35,738 | -15.3% |
| Tangible fixed assets | 22/27 | €233,750 | €198,011 | -€35,738 | -15.3% |
| Land and buildings | 22 | €165,222 | €163,819 | -€1,403 | -0.8% |
| Plant, machinery and equipment | 23 | €1,289 | €647 | -€642 | -49.8% |
| Furniture and vehicles | 24 | €42,177 | €33,545 | -€8,632 | -20.5% |
| Leasing and similar rights | 25 | €25,061 | €0 | -€25,061 | -100.0% |
| Current assets | 29/58 | €280,837 | €312,069 | +€31,232 | +11.1% |
| Amounts receivable within one year | 40/41 | €12,126 | €50,401 | +€38,275 | +315.7% |
| Trade receivables | 40 | €12,126 | €41,872 | +€29,746 | +245.3% |
| Other amounts receivable | 41 | €0 | €8,530 | +€8,530 | |
| Current investments | 50/53 | €99,201 | €124,374 | +€25,173 | +25.4% |
| Cash at bank and in hand | 54/58 | €165,641 | €136,065 | -€29,575 | -17.9% |
| Deferred charges and accrued income | 490/1 | €3,869 | €1,228 | -€2,641 | -68.3% |
| Total equity and liabilities | 10/49 | €514,586 | €510,080 | -€4,507 | -0.9% |
| Equity | 10/15 | €492,418 | €499,257 | +€6,839 | +1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €473,818 | €480,657 | +€6,839 | +1.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €473,818 | €480,657 | +€6,839 | +1.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,169 | €10,823 | -€11,346 | -51.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €22,169 | €10,823 | -€11,346 | -51.2% |
| Current portion of amounts payable after more than one year | 42 | €7,140 | €0 | -€7,140 | -100.0% |
| Trade debts | 44 | €4,555 | €2,187 | -€2,368 | -52.0% |
| Suppliers | 440/4 | €4,555 | €2,187 | -€2,368 | -52.0% |
| Taxes, remuneration and social security | 45 | €7,115 | €5,120 | -€1,995 | -28.0% |
| Taxes | 450/3 | €7,115 | €5,120 | -€1,995 | -28.0% |
| Other amounts payable | 47/48 | €3,359 | €3,516 | +€157 | +4.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,045 | €41,461 | +€4,416 | +11.9% |
| Other operating charges | 640/8 | €1,560 | €1,514 | -€45 | -2.9% |
| Gross operating margin | 9900 | €193,011 | €116,760 | -€76,251 | -39.5% |
| Operating profit (loss) | 9901 | €154,406 | €73,784 | -€80,622 | -52.2% |
| Financial income | 75/76B | €378 | €1,675 | +€1,297 | +342.7% |
| Recurring financial income | 75 | €378 | €1,675 | +€1,297 | +342.7% |
| Financial charges | 65/66B | €340 | €130 | -€210 | -61.9% |
| Recurring financial charges | 65 | €340 | €130 | -€210 | -61.9% |
| Profit (loss) for the period before taxes | 9903 | €154,445 | €75,330 | -€79,115 | -51.2% |
| Income taxes | 67/77 | €45,986 | €21,973 | -€24,013 | -52.2% |
| Profit (loss) for the period | 9904 | €108,458 | €53,357 | -€55,102 | -50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €108,458 | €53,357 | -€55,102 | -50.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.