Josart: 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.
Josart
Largest movements
- Receivables within one year -€41,492
down €41,492 (-35.6%), from €116,476 to €74,984
of which Trade receivables: -€28,290
- Cash +€17,930
up €17,930 (+47.9%), from €37,426 to €55,357
mainly Receivables within one year (+€41,492) and Depreciation (+€12,723)
- Tangible fixed assets -€10,488
down €10,488 (-5.7%), from €183,701 to €173,213
of which Furniture and vehicles: -€5,949
- Stocks and contracts -€3,756
down €3,756 (-13.8%), from €27,224 to €23,468
- Debts after one year -€17,461
down €17,461 (-14.7%), from €118,753 to €101,293
- Trade debts -€15,978
down €15,978 (-29.5%), from €54,125 to €38,146
- Gross operating margin -€80,473
down €80,473 (-33.7%), from €238,596 to €158,124
- Staff costs -€70,914
down €70,914 (-34.7%), from €204,313 to €133,399
- Depreciation -€16,314
down €16,314 (-56.2%), from €29,037 to €12,723
- Write-downs -€9,000
down €9,000 (-100%), from €9,000 to €0
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €368,889 | €328,516 | -€40,373 | -10.9% |
| Fixed assets | 21/28 | €183,701 | €173,213 | -€10,488 | -5.7% |
| Tangible fixed assets | 22/27 | €183,701 | €173,213 | -€10,488 | -5.7% |
| Land and buildings | 22 | €150,533 | €148,187 | -€2,346 | -1.6% |
| Plant, machinery and equipment | 23 | €6,524 | €4,332 | -€2,193 | -33.6% |
| Furniture and vehicles | 24 | €26,643 | €20,695 | -€5,949 | -22.3% |
| Current assets | 29/58 | €185,188 | €155,303 | -€29,885 | -16.1% |
| Stocks and contracts in progress | 3 | €27,224 | €23,468 | -€3,756 | -13.8% |
| Stocks | 30/36 | €27,224 | €23,468 | -€3,756 | -13.8% |
| Amounts receivable within one year | 40/41 | €116,476 | €74,984 | -€41,492 | -35.6% |
| Trade receivables | 40 | €99,968 | €71,678 | -€28,290 | -28.3% |
| Other amounts receivable | 41 | €16,508 | €3,306 | -€13,202 | -80.0% |
| Cash at bank and in hand | 54/58 | €37,426 | €55,357 | +€17,930 | +47.9% |
| Deferred charges and accrued income | 490/1 | €4,061 | €1,495 | -€2,567 | -63.2% |
| Total equity and liabilities | 10/49 | €368,889 | €328,516 | -€40,373 | -10.9% |
| Equity | 10/15 | €108,884 | €107,740 | -€1,145 | -1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €118,494 | €118,494 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €118,494 | €118,494 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,809 | -€16,954 | -€1,145 | -7.2% |
| Amounts payable | 17/49 | €260,005 | €220,776 | -€39,228 | -15.1% |
| Amounts payable after more than one year | 17 | €118,753 | €101,293 | -€17,461 | -14.7% |
| Financial debts | 170/4 | €118,753 | €101,293 | -€17,461 | -14.7% |
| Amounts payable within one year | 42/48 | €141,251 | €119,467 | -€21,785 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €17,404 | €17,461 | +€56 | +0.3% |
| Financial debts | 43 | €35,000 | €35,000 | = | 0.0% |
| Credit institutions | 430/8 | €35,000 | €35,000 | = | 0.0% |
| Trade debts | 44 | €54,125 | €38,146 | -€15,978 | -29.5% |
| Suppliers | 440/4 | €54,125 | €38,146 | -€15,978 | -29.5% |
| Advances received on contracts in progress | 46 | €3,255 | €2,000 | -€1,255 | -38.6% |
| Taxes, remuneration and social security | 45 | €7,922 | €6,629 | -€1,293 | -16.3% |
| Taxes | 450/3 | €252 | €1,254 | +€1,002 | +398% |
| Remuneration and social security | 454/9 | €7,670 | €5,376 | -€2,295 | -29.9% |
| Other amounts payable | 47/48 | €23,545 | €20,231 | -€3,315 | -14.1% |
| Accrued charges and deferred income | 492/3 | - | €17 | +€17 | |
| Remuneration, social security and pensions | 62 | €204,313 | €133,399 | -€70,914 | -34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,037 | €12,723 | -€16,314 | -56.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,000 | €0 | -€9,000 | -100% |
| Other operating charges | 640/8 | €2,996 | €4,041 | +€1,045 | +34.9% |
| Gross operating margin | 9900 | €238,596 | €158,124 | -€80,473 | -33.7% |
| Operating profit (loss) | 9901 | -€6,750 | €7,961 | +€14,711 | |
| Financial income | 75/76B | €96 | €2,044 | +€1,948 | +2,037% |
| Recurring financial income | 75 | €96 | €2,044 | +€1,948 | +2,037% |
| Financial charges | 65/66B | €10,888 | €9,441 | -€1,447 | -13.3% |
| Recurring financial charges | 65 | €10,888 | €9,441 | -€1,447 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,542 | €564 | +€18,106 | |
| Income taxes | 67/77 | €127 | €1,709 | +€1,581 | +1,243% |
| Profit (loss) for the period | 9904 | -€17,669 | -€1,145 | +€16,525 | +93.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,669 | -€1,145 | +€16,525 | +93.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.