JOSEPH: 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.
JOSEPH
Largest movements
- Tangible fixed assets -€8,962
down €8,962 (-31.0%), from €28,893 to €19,931
of which Other tangible fixed assets: -€8,858
- Cash +€4,077
up €4,077 (+28.2%), from €14,467 to €18,543
mainly Depreciation (+€8,962) and Trade debts (+€5,241)
- Deferred charges and accrued income -€1,386
down €1,386 (-47.4%), from €2,922 to €1,535
- Receivables within one year -€929
down €929 (-55.7%), from €1,668 to €740
of which Trade receivables: -€858
- Current portion of long-term debt -€11,430
down €11,430 (-98.2%), from €11,637 to €207
- Trade debts +€5,241
up €5,241 (+252.0%), from €2,080 to €7,321
- Tax, wage and social debts -€2,302
down €2,302 (-21.5%), from €10,701 to €8,398
of which Remuneration and social security: -€2,410
- Other debts +€749
up €749 (+26.4%), from €2,841 to €3,590
- Gross operating margin -€2,644
down €2,644 (-4.2%), from €63,661 to €61,017
- Other operating charges -€1,308
down €1,308 (-27.9%), from €4,688 to €3,381
- Financial charges -€917
down €917 (-47.3%), from €1,936 to €1,020
- Depreciation -€670
down €670 (-7.0%), from €9,632 to €8,962
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 | €50,816 | €43,175 | -€7,641 | -15.0% |
| Fixed assets | 21/28 | €28,893 | €19,931 | -€8,962 | -31.0% |
| Tangible fixed assets | 22/27 | €28,893 | €19,931 | -€8,962 | -31.0% |
| Furniture and vehicles | 24 | €104 | €0 | -€104 | -100.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €28,789 | €19,931 | -€8,858 | -30.8% |
| Current assets | 29/58 | €21,923 | €23,244 | +€1,321 | +6.0% |
| Stocks and contracts in progress | 3 | €2,866 | €2,426 | -€441 | -15.4% |
| Stocks | 30/36 | €2,866 | €2,426 | -€441 | -15.4% |
| Amounts receivable within one year | 40/41 | €1,668 | €740 | -€929 | -55.7% |
| Trade receivables | 40 | €1,457 | €599 | -€858 | -58.9% |
| Other amounts receivable | 41 | €211 | €141 | -€70 | -33.3% |
| Cash at bank and in hand | 54/58 | €14,467 | €18,543 | +€4,077 | +28.2% |
| Deferred charges and accrued income | 490/1 | €2,922 | €1,535 | -€1,386 | -47.4% |
| Total equity and liabilities | 10/49 | €50,816 | €43,175 | -€7,641 | -15.0% |
| Equity | 10/15 | €23,112 | €23,228 | +€117 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,512 | €4,628 | +€117 | +2.6% |
| Amounts payable | 17/49 | €27,704 | €19,947 | -€7,758 | -28.0% |
| Amounts payable after more than one year | 17 | €207 | €0 | -€207 | -100.0% |
| Financial debts | 170/4 | €207 | €0 | -€207 | -100.0% |
| Amounts payable within one year | 42/48 | €27,365 | €19,656 | -€7,710 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €11,637 | €207 | -€11,430 | -98.2% |
| Financial debts | 43 | €107 | €139 | +€32 | +29.9% |
| Other loans | 439 | €107 | €139 | +€32 | +29.9% |
| Trade debts | 44 | €2,080 | €7,321 | +€5,241 | +252.0% |
| Suppliers | 440/4 | €2,080 | €7,321 | +€5,241 | +252.0% |
| Taxes, remuneration and social security | 45 | €10,701 | €8,398 | -€2,302 | -21.5% |
| Taxes | 450/3 | €1,446 | €1,554 | +€107 | +7.4% |
| Remuneration and social security | 454/9 | €9,254 | €6,845 | -€2,410 | -26.0% |
| Other amounts payable | 47/48 | €2,841 | €3,590 | +€749 | +26.4% |
| Accrued charges and deferred income | 492/3 | €132 | €291 | +€159 | +120.2% |
| Non-recurring operating income | 76A | €6,213 | €0 | -€6,213 | -100.0% |
| Remuneration, social security and pensions | 62 | €47,295 | €47,543 | +€248 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,632 | €8,962 | -€670 | -7.0% |
| Other operating charges | 640/8 | €4,688 | €3,381 | -€1,308 | -27.9% |
| Gross operating margin | 9900 | €63,661 | €61,017 | -€2,644 | -4.2% |
| Operating profit (loss) | 9901 | €2,046 | €1,131 | -€915 | -44.7% |
| Financial income | 75/76B | €8 | €5 | -€2 | -32.5% |
| Recurring financial income | 75 | €8 | €5 | -€2 | -32.5% |
| Financial charges | 65/66B | €1,936 | €1,020 | -€917 | -47.3% |
| Recurring financial charges | 65 | €1,936 | €1,020 | -€917 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | €117 | €117 | -€0 | -0.4% |
| Profit (loss) for the period | 9904 | €117 | €117 | -€0 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €117 | €117 | -€0 | -0.4% |
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 9 October 2026 via checked.be.