JOSÉPHINE: 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.
JOSÉPHINE
Largest movements
- Cash +€11,797
up €11,797 (+17.6%), from €67,143 to €78,940
mainly Trade debts (+€19,847) and Depreciation (+€4,509)
- Tangible fixed assets -€3,233
down €3,233 (-16.3%), from €19,855 to €16,621
of which Plant, machinery and equipment: -€2,810
- Deferred charges and accrued income +€2,075
up €2,075 (+1,087%), from €191 to €2,266
- Trade debts +€19,847
up €19,847 (+246%), from €8,067 to €27,914
- Profit (loss) carried forward -€11,107
new in 2025: -€11,107
- Other debts +€3,235
up €3,235 (+224%), from €1,442 to €4,677
- Gross operating margin -€40,909
down €40,909, from €39,378 to -€1,531
- Taxes -€7,895
down €7,895 (-97.3%), from €8,111 to €216
- Financial charges -€4,390
down €4,390 (-98.4%), from €4,463 to €72
- Staff costs +€1,088
up €1,088 (+32.1%), from €3,393 to €4,482
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 | €139,226 | €150,111 | +€10,885 | +7.8% |
| Fixed assets | 21/28 | €19,855 | €16,621 | -€3,233 | -16.3% |
| Tangible fixed assets | 22/27 | €19,855 | €16,621 | -€3,233 | -16.3% |
| Plant, machinery and equipment | 23 | €16,846 | €14,035 | -€2,810 | -16.7% |
| Furniture and vehicles | 24 | €3,009 | €2,586 | -€423 | -14.1% |
| Current assets | 29/58 | €119,372 | €133,490 | +€14,118 | +11.8% |
| Stocks and contracts in progress | 3 | €45,557 | €45,861 | +€304 | +0.7% |
| Stocks | 30/36 | €45,557 | €45,861 | +€304 | +0.7% |
| Amounts receivable within one year | 40/41 | €6,481 | €6,424 | -€57 | -0.9% |
| Trade receivables | 40 | €5,964 | €5,907 | -€57 | -1.0% |
| Other amounts receivable | 41 | €517 | €517 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €67,143 | €78,940 | +€11,797 | +17.6% |
| Deferred charges and accrued income | 490/1 | €191 | €2,266 | +€2,075 | +1,087% |
| Total equity and liabilities | 10/49 | €139,226 | €150,111 | +€10,885 | +7.8% |
| Equity | 10/15 | €110,257 | €99,150 | -€11,107 | -10.1% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €97,257 | €97,257 | = | 0.0% |
| Distributable reserves | 133 | €97,257 | €97,257 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€11,107 | -€11,107 | |
| Amounts payable | 17/49 | €28,970 | €50,961 | +€21,991 | +75.9% |
| Amounts payable within one year | 42/48 | €28,970 | €50,961 | +€21,991 | +75.9% |
| Financial debts | 43 | - | €277 | +€277 | |
| Credit institutions | 430/8 | - | €277 | +€277 | |
| Trade debts | 44 | €8,067 | €27,914 | +€19,847 | +246% |
| Suppliers | 440/4 | €8,067 | €27,914 | +€19,847 | +246% |
| Taxes, remuneration and social security | 45 | €19,461 | €18,093 | -€1,368 | -7.0% |
| Taxes | 450/3 | €17,211 | €15,721 | -€1,490 | -8.7% |
| Remuneration and social security | 454/9 | €2,250 | €2,372 | +€122 | +5.4% |
| Other amounts payable | 47/48 | €1,442 | €4,677 | +€3,235 | +224% |
| Remuneration, social security and pensions | 62 | €3,393 | €4,482 | +€1,088 | +32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,832 | €4,509 | -€323 | -6.7% |
| Other operating charges | 640/8 | €487 | €500 | +€12 | +2.5% |
| Gross operating margin | 9900 | €39,378 | -€1,531 | -€40,909 | |
| Operating profit (loss) | 9901 | €30,665 | -€11,021 | -€41,686 | |
| Financial income | 75/76B | €142 | €203 | +€61 | +42.8% |
| Recurring financial income | 75 | €142 | €203 | +€61 | +42.8% |
| Financial charges | 65/66B | €4,463 | €72 | -€4,390 | -98.4% |
| Recurring financial charges | 65 | €4,463 | €72 | -€4,390 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €26,344 | -€10,891 | -€37,235 | |
| Income taxes | 67/77 | €8,111 | €216 | -€7,895 | -97.3% |
| Profit (loss) for the period | 9904 | €18,233 | -€11,107 | -€29,340 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,233 | -€11,107 | -€29,340 |
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 15 October 2026 via checked.be.