JOSEPHINE: 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.
JOSEPHINE
Largest movements
- Cash +€46,509
up €46,509 (+49.0%), from €94,838 to €141,347
mainly Other debts (+€99,173) and Net result for the year (+€48,970)
- Other debts +€99,173
up €99,173 (+308%), from €32,152 to €131,325
- Reserves -€51,030
down €51,030 (-67.2%), from €75,979 to €24,949
- Tax, wage and social debts -€3,154
down €3,154 (-31.7%), from €9,943 to €6,789
- Gross operating margin +€18,762
up €18,762 (+37.2%), from €50,431 to €69,193
- Taxes +€4,376
up €4,376 (+49.2%), from €8,898 to €13,274
- Financial charges +€1,493
up €1,493 (+239%), from €624 to €2,117
- Depreciation -€1,352
down €1,352 (-23.0%), from €5,879 to €4,528
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 | €124,574 | €169,290 | +€44,716 | +35.9% |
| Fixed assets | 21/28 | €18,527 | €16,106 | -€2,422 | -13.1% |
| Intangible fixed assets | 21 | €8,229 | €7,029 | -€1,200 | -14.6% |
| Tangible fixed assets | 22/27 | €7,898 | €6,677 | -€1,222 | -15.5% |
| Plant, machinery and equipment | 23 | €7,320 | €6,613 | -€707 | -9.7% |
| Furniture and vehicles | 24 | €578 | €63 | -€514 | -89.0% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €106,047 | €153,184 | +€47,138 | +44.4% |
| Stocks and contracts in progress | 3 | €8,466 | €8,122 | -€344 | -4.1% |
| Stocks | 30/36 | €8,466 | €8,122 | -€344 | -4.1% |
| Amounts receivable within one year | 40/41 | €134 | - | -€134 | |
| Trade receivables | 40 | €134 | - | -€134 | |
| Cash at bank and in hand | 54/58 | €94,838 | €141,347 | +€46,509 | +49.0% |
| Deferred charges and accrued income | 490/1 | €2,608 | €3,716 | +€1,107 | +42.5% |
| Total equity and liabilities | 10/49 | €124,574 | €169,290 | +€44,716 | +35.9% |
| Equity | 10/15 | €78,979 | €27,949 | -€51,030 | -64.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €75,979 | €24,949 | -€51,030 | -67.2% |
| Distributable reserves | 133 | €75,979 | €24,949 | -€51,030 | -67.2% |
| Amounts payable | 17/49 | €45,595 | €141,341 | +€95,746 | +210% |
| Amounts payable within one year | 42/48 | €45,305 | €141,042 | +€95,737 | +211% |
| Trade debts | 44 | €3,209 | €2,928 | -€282 | -8.8% |
| Suppliers | 440/4 | €3,209 | €2,928 | -€282 | -8.8% |
| Taxes, remuneration and social security | 45 | €9,943 | €6,789 | -€3,154 | -31.7% |
| Taxes | 450/3 | €9,943 | €6,789 | -€3,154 | -31.7% |
| Other amounts payable | 47/48 | €32,152 | €131,325 | +€99,173 | +308% |
| Accrued charges and deferred income | 492/3 | €290 | €299 | +€9 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,879 | €4,528 | -€1,352 | -23.0% |
| Other operating charges | 640/8 | €665 | €678 | +€13 | +2.0% |
| Gross operating margin | 9900 | €50,431 | €69,193 | +€18,762 | +37.2% |
| Operating profit (loss) | 9901 | €43,887 | €63,988 | +€20,101 | +45.8% |
| Financial income | 75/76B | - | €373 | +€373 | |
| Recurring financial income | 75 | - | €373 | +€373 | |
| Financial charges | 65/66B | €624 | €2,117 | +€1,493 | +239% |
| Recurring financial charges | 65 | €624 | €2,117 | +€1,493 | +239% |
| Profit (loss) for the period before taxes | 9903 | €43,263 | €62,244 | +€18,981 | +43.9% |
| Income taxes | 67/77 | €8,898 | €13,274 | +€4,376 | +49.2% |
| Profit (loss) for the period | 9904 | €34,365 | €48,970 | +€14,605 | +42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,365 | €48,970 | +€14,605 | +42.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.