JOSEPHII12: 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.
JOSEPHII12
Largest movements
- Tangible fixed assets +€22.6m
new in 2025: €22.6m
- Stocks and contracts -€14.2m
no longer reported in 2025 (was €14.2m)
- Receivables within one year -€5.7m
down €5.7m (-62.5%), from €9.2m to €3.4m
of which Other amounts receivable: -€5.5m
- Current portion of long-term debt +€13.4m
new in 2025: €13.4m
- Debts after one year -€9.1m
no longer reported in 2025 (was €9.1m)
- Trade debts -€1.5m
down €1.5m (-45.6%), from €3.3m to €1.8m
- Advances received -€319,156
no longer reported in 2025 (was €319,156)
- Other operating charges +€111,586
up €111,586 (+59.8%), from €186,578 to €298,163
- Financial income +€77,785
up €77,785 (+136%), from €57,210 to €134,995
- Gross operating margin +€69,358
up €69,358 (+33.4%), from €207,384 to €276,742
- Taxes +€36,223
up €36,223 (+197%), from €18,365 to €54,588
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 | €23,441,941 | €26,059,886 | +€2.6m | +11.2% |
| Fixed assets | 21/28 | - | €22,612,217 | +€22.6m | |
| Tangible fixed assets | 22/27 | - | €22,612,217 | +€22.6m | |
| Land and buildings | 22 | - | €22,612,217 | +€22.6m | |
| Current assets | 29/58 | €23,441,941 | €3,447,669 | -€20.0m | -85.3% |
| Stocks and contracts in progress | 3 | €14,204,674 | - | -€14.2m | |
| Contracts in progress | 37 | €14,204,674 | - | -€14.2m | |
| Amounts receivable within one year | 40/41 | €9,177,782 | €3,438,137 | -€5.7m | -62.5% |
| Trade receivables | 40 | €270,512 | €44,633 | -€225,878 | -83.5% |
| Other amounts receivable | 41 | €8,907,270 | €3,393,503 | -€5.5m | -61.9% |
| Cash at bank and in hand | 54/58 | €59,485 | €9,532 | -€49,953 | -84.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €23,441,941 | €26,059,886 | +€2.6m | +11.2% |
| Equity | 10/15 | €10,447,689 | €10,506,223 | +€58,534 | +0.6% |
| Contributions | 10/11 | €9,100,001 | €9,100,001 | = | 0.0% |
| Capital | 10 | €9,100,001 | €9,100,001 | = | 0.0% |
| Issued capital | 100 | €9,100,001 | €9,100,001 | = | 0.0% |
| Reserves | 13 | €101,579 | €104,506 | +€2,927 | +2.9% |
| Non-distributable reserves | 130/1 | €101,579 | €104,506 | +€2,927 | +2.9% |
| Legal reserve | 130 | €101,579 | €104,506 | +€2,927 | +2.9% |
| Profit (loss) carried forward | 14 | €1,246,109 | €1,301,716 | +€55,608 | +4.5% |
| Amounts payable | 17/49 | €12,994,252 | €15,553,663 | +€2.6m | +19.7% |
| Amounts payable after more than one year | 17 | €9,080,000 | - | -€9.1m | |
| Financial debts | 170/4 | €9,080,000 | - | -€9.1m | |
| Amounts payable within one year | 42/48 | €3,914,157 | €15,547,013 | +€11.6m | +297% |
| Current portion of amounts payable after more than one year | 42 | - | €13,375,000 | +€13.4m | |
| Trade debts | 44 | €3,337,444 | €1,816,672 | -€1.5m | -45.6% |
| Suppliers | 440/4 | €3,337,444 | €1,816,672 | -€1.5m | -45.6% |
| Advances received on contracts in progress | 46 | €319,156 | - | -€319,156 | |
| Taxes, remuneration and social security | 45 | €257,557 | €355,289 | +€97,732 | +37.9% |
| Taxes | 450/3 | €257,557 | €355,289 | +€97,732 | +37.9% |
| Other amounts payable | 47/48 | - | €52 | +€52 | |
| Accrued charges and deferred income | 492/3 | €95 | €6,650 | +€6,555 | +6,900% |
| Other operating charges | 640/8 | €186,578 | €298,163 | +€111,586 | +59.8% |
| Gross operating margin | 9900 | €207,384 | €276,742 | +€69,358 | +33.4% |
| Operating profit (loss) | 9901 | €20,806 | -€21,422 | -€42,228 | |
| Financial income | 75/76B | €57,210 | €134,995 | +€77,785 | +136% |
| Recurring financial income | 75 | €57,210 | €134,995 | +€77,785 | +136% |
| Financial charges | 65/66B | €296 | €451 | +€155 | +52.3% |
| Recurring financial charges | 65 | €296 | €451 | +€155 | +52.3% |
| Profit (loss) for the period before taxes | 9903 | €77,720 | €113,122 | +€35,402 | +45.6% |
| Income taxes | 67/77 | €18,365 | €54,588 | +€36,223 | +197% |
| Profit (loss) for the period | 9904 | €59,355 | €58,534 | -€821 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,355 | €58,534 | -€821 | -1.4% |
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 27 October 2026 via checked.be.