JOSATEC: 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.
JOSATEC
Largest movements
- Stocks and contracts -€134,669
down €134,669 (-100%), from €134,669 to €0
- Cash +€127,833
up €127,833 (+164%), from €77,753 to €205,587
mainly Stocks and contracts (+€134,669) and Net result for the year (+€54,452)
- Current investments +€53,180
new in 2025: €53,180
- Tangible fixed assets -€6,397
down €6,397 (-3.9%), from €165,576 to €159,179
of which Plant, machinery and equipment: -€8,567
- Receivables within one year +€6,235
up €6,235 (+227%), from €2,748 to €8,982
of which Trade receivables: +€6,235
- Profit (loss) carried forward +€44,345
up €44,345, from -€44,345 to €0
- Other debts -€37,992
down €37,992 (-20.9%), from €181,840 to €143,848
- Tax, wage and social debts +€34,353
up €34,353 (+247%), from €13,911 to €48,264
of which Taxes: +€31,430
- Reserves +€10,107
up €10,107 (+5.0%), from €202,395 to €212,502
of which Distributable reserves: +€11,633
- Current portion of long-term debt -€5,480
down €5,480 (-100%), from €5,480 to €0
- Financial charges -€14,420
down €14,420 (-97.2%), from €14,829 to €410
- Staff costs +€7,520
up €7,520 (+22.7%), from €33,152 to €40,672
- Depreciation -€6,641
down €6,641 (-30.6%), from €21,716 to €15,075
- Other operating charges +€2,555
up €2,555 (+23.9%), from €10,690 to €13,244
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 | €383,236 | €428,838 | +€45,602 | +11.9% |
| Fixed assets | 21/28 | €165,576 | €159,179 | -€6,397 | -3.9% |
| Tangible fixed assets | 22/27 | €165,576 | €159,179 | -€6,397 | -3.9% |
| Land and buildings | 22 | €115,116 | €113,393 | -€1,723 | -1.5% |
| Plant, machinery and equipment | 23 | €32,186 | €23,619 | -€8,567 | -26.6% |
| Furniture and vehicles | 24 | €11,894 | €22,167 | +€10,272 | +86.4% |
| Leasing and similar rights | 25 | €6,380 | €0 | -€6,380 | -100% |
| Current assets | 29/58 | €217,659 | €269,659 | +€52,000 | +23.9% |
| Stocks and contracts in progress | 3 | €134,669 | €0 | -€134,669 | -100% |
| Stocks | 30/36 | €134,669 | €0 | -€134,669 | -100% |
| Amounts receivable within one year | 40/41 | €2,748 | €8,982 | +€6,235 | +227% |
| Trade receivables | 40 | €2,748 | €8,982 | +€6,235 | +227% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | - | €53,180 | +€53,180 | |
| Cash at bank and in hand | 54/58 | €77,753 | €205,587 | +€127,833 | +164% |
| Deferred charges and accrued income | 490/1 | €2,489 | €1,910 | -€579 | -23.2% |
| Total equity and liabilities | 10/49 | €383,236 | €428,838 | +€45,602 | +11.9% |
| Equity | 10/15 | €176,600 | €231,052 | +€54,452 | +30.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €202,395 | €212,502 | +€10,107 | +5.0% |
| Tax-exempt reserves | 132 | €8,541 | €7,014 | -€1,526 | -17.9% |
| Distributable reserves | 133 | €193,854 | €205,488 | +€11,633 | +6.0% |
| Profit (loss) carried forward | 14 | -€44,345 | €0 | +€44,345 | |
| Provisions and deferred taxes | 16 | €2,847 | €2,338 | -€509 | -17.9% |
| Deferred taxes | 168 | €2,847 | €2,338 | -€509 | -17.9% |
| Amounts payable | 17/49 | €203,788 | €195,448 | -€8,340 | -4.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €203,788 | €195,448 | -€8,340 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €5,480 | €0 | -€5,480 | -100% |
| Trade debts | 44 | €2,557 | €3,336 | +€779 | +30.5% |
| Suppliers | 440/4 | €2,557 | €3,336 | +€779 | +30.5% |
| Taxes, remuneration and social security | 45 | €13,911 | €48,264 | +€34,353 | +247% |
| Taxes | 450/3 | €9,356 | €40,786 | +€31,430 | +336% |
| Remuneration and social security | 454/9 | €4,555 | €7,478 | +€2,923 | +64.2% |
| Other amounts payable | 47/48 | €181,840 | €143,848 | -€37,992 | -20.9% |
| Non-recurring operating income | 76A | €2,841 | €13,278 | +€10,438 | +367% |
| Remuneration, social security and pensions | 62 | €33,152 | €40,672 | +€7,520 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,716 | €15,075 | -€6,641 | -30.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,129 | +€1,129 | |
| Other operating charges | 640/8 | €10,690 | €13,244 | +€2,555 | +23.9% |
| Non-recurring operating charges | 66A | €0 | €1,019 | +€1,019 | |
| Gross operating margin | 9900 | €124,278 | €125,418 | +€1,140 | +0.9% |
| Operating profit (loss) | 9901 | €58,720 | €54,279 | -€4,441 | -7.6% |
| Financial income | 75/76B | €175 | €256 | +€82 | +46.7% |
| Recurring financial income | 75 | €175 | €256 | +€82 | +46.7% |
| Financial charges | 65/66B | €14,829 | €410 | -€14,420 | -97.2% |
| Recurring financial charges | 65 | €14,829 | €410 | -€14,420 | -97.2% |
| Profit (loss) for the period before taxes | 9903 | €44,065 | €54,126 | +€10,060 | +22.8% |
| Transfer from deferred taxes | 780 | €509 | €509 | = | 0.0% |
| Income taxes | 67/77 | -€121 | €183 | +€304 | |
| Profit (loss) for the period | 9904 | €44,695 | €54,452 | +€9,756 | +21.8% |
| Transfer from tax-exempt reserves | 789 | €1,526 | €1,526 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,222 | €55,978 | +€9,756 | +21.1% |
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 18 October 2026 via checked.be.