JOSCHE: 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.
JOSCHE
Largest movements
- Tangible fixed assets -€386,369
down €386,369 (-17.6%), from €2.2m to €1.8m
of which Leasing and similar rights: -€303,501
- Stocks and contracts +€185,416
up €185,416 (+18.0%), from €1.0m to €1.2m
- Receivables within one year -€75,701
down €75,701 (-33.7%), from €224,718 to €149,016
of which Trade receivables: -€97,714
- Short-term financial debts -€785,000
down €785,000 (-49.5%), from €1.6m to €800,000
- Reserves +€748,794
up €748,794 (+79.3%), from €944,116 to €1.7m
- Debts after one year -€243,385
down €243,385 (-13.1%), from €1.9m to €1.6m
- Other debts +€167,843
up €167,843 (+6.9%), from €2.4m to €2.6m
- Current portion of long-term debt -€126,088
down €126,088 (-33.7%), from €373,762 to €247,674
- Gross operating margin +€930,799
up €930,799 (+151%), from €615,263 to €1.5m
- Taxes +€318,931
up €318,931 (+921%), from €34,617 to €353,549
- Depreciation -€43,338
down €43,338 (-13.1%), from €331,438 to €288,100
- Financial charges -€25,467
down €25,467 (-21.1%), from €120,972 to €95,506
- Other operating charges -€24,115
down €24,115 (-50.6%), from €47,645 to €23,530
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 | €7,368,178 | €7,156,390 | -€211,788 | -2.9% |
| Fixed assets | 21/28 | €6,105,036 | €5,718,667 | -€386,369 | -6.3% |
| Tangible fixed assets | 22/27 | €2,196,562 | €1,810,193 | -€386,369 | -17.6% |
| Land and buildings | 22 | €559,999 | €477,909 | -€82,090 | -14.7% |
| Plant, machinery and equipment | 23 | €778 | €0 | -€778 | -100% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €1,635,785 | €1,332,284 | -€303,501 | -18.6% |
| Financial fixed assets | 28 | €3,908,474 | €3,908,474 | = | 0.0% |
| Current assets | 29/58 | €1,263,142 | €1,437,723 | +€174,581 | +13.8% |
| Stocks and contracts in progress | 3 | €1,028,853 | €1,214,269 | +€185,416 | +18.0% |
| Stocks | 30/36 | €1,028,853 | €1,214,269 | +€185,416 | +18.0% |
| Amounts receivable within one year | 40/41 | €224,718 | €149,016 | -€75,701 | -33.7% |
| Trade receivables | 40 | €194,718 | €97,003 | -€97,714 | -50.2% |
| Other amounts receivable | 41 | €30,000 | €52,013 | +€22,013 | +73.4% |
| Current investments | 50/53 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €1,369 | €59,578 | +€58,210 | +4,253% |
| Deferred charges and accrued income | 490/1 | €8,203 | €9,860 | +€1,657 | +20.2% |
| Total equity and liabilities | 10/49 | €7,368,178 | €7,156,390 | -€211,788 | -2.9% |
| Equity | 10/15 | €993,116 | €1,741,910 | +€748,794 | +75.4% |
| Contributions | 10/11 | €49,000 | €49,000 | = | 0.0% |
| Reserves | 13 | €944,116 | €1,692,910 | +€748,794 | +79.3% |
| Distributable reserves | 133 | €944,116 | €1,692,910 | +€748,794 | +79.3% |
| Amounts payable | 17/49 | €6,375,062 | €5,414,480 | -€960,582 | -15.1% |
| Amounts payable after more than one year | 17 | €1,852,327 | €1,608,942 | -€243,385 | -13.1% |
| Financial debts | 170/4 | €1,852,327 | €1,608,942 | -€243,385 | -13.1% |
| Amounts payable within one year | 42/48 | €4,481,735 | €3,805,538 | -€676,197 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €373,762 | €247,674 | -€126,088 | -33.7% |
| Financial debts | 43 | €1,585,000 | €800,000 | -€785,000 | -49.5% |
| Credit institutions | 430/8 | €1,585,000 | €800,000 | -€785,000 | -49.5% |
| Trade debts | 44 | €53,103 | €3,163 | -€49,940 | -94.0% |
| Suppliers | 440/4 | €53,103 | €3,163 | -€49,940 | -94.0% |
| Taxes, remuneration and social security | 45 | €45,361 | €162,349 | +€116,988 | +258% |
| Taxes | 450/3 | €42,561 | €159,549 | +€116,988 | +275% |
| Remuneration and social security | 454/9 | €2,800 | €2,800 | = | 0.0% |
| Other amounts payable | 47/48 | €2,424,510 | €2,592,353 | +€167,843 | +6.9% |
| Accrued charges and deferred income | 492/3 | €41,000 | €0 | -€41,000 | -100% |
| Non-recurring operating income | 76A | €40 | €267 | +€227 | +568% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €331,438 | €288,100 | -€43,338 | -13.1% |
| Other operating charges | 640/8 | €47,645 | €23,530 | -€24,115 | -50.6% |
| Non-recurring operating charges | 66A | - | €36,584 | +€36,584 | |
| Gross operating margin | 9900 | €615,263 | €1,546,062 | +€930,799 | +151% |
| Operating profit (loss) | 9901 | €236,181 | €1,197,848 | +€961,667 | +407% |
| Financial income | 75/76B | €25 | €0 | -€25 | -100% |
| Recurring financial income | 75 | €25 | €0 | -€25 | -100% |
| Financial charges | 65/66B | €120,972 | €95,506 | -€25,467 | -21.1% |
| Recurring financial charges | 65 | €120,972 | €95,506 | -€25,467 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €115,234 | €1,102,343 | +€987,109 | +857% |
| Income taxes | 67/77 | €34,617 | €353,549 | +€318,931 | +921% |
| Profit (loss) for the period | 9904 | €80,616 | €748,794 | +€668,178 | +829% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €80,616 | €748,794 | +€668,178 | +829% |
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 15 October 2026 via checked.be.