JOSIAN: what changed
Two fiscal 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.
JOSIAN
Largest movements
- Cash -€104,754
down €104,754 (-55.2%), from €189,860 to €85,106
mainly Investment in fixed assets (net) (-€132,979) and Current investments (-€100,000)
- Current investments +€100,000
up €100,000 (+229.3%), from €43,616 to €143,616
- Tangible fixed assets +€95,048
up €95,048 (+14.7%), from €644,682 to €739,730
of which Land and buildings: +€93,551
- Receivables within one year -€20,284
down €20,284 (-10.3%), from €197,730 to €177,446
of which Other amounts receivable: -€59,000
- Trade debts +€43,184
up €43,184 (+247.5%), from €17,451 to €60,635
- Reserves +€27,076
up €27,076 (+5.3%), from €509,233 to €536,309
of which Distributable reserves: +€33,857
- Tax, wage and social debts +€14,655
new in 2025: €14,655
- Gross operating margin +€24,321
up €24,321 (+29.1%), from €83,712 to €108,033
- Depreciation +€9,297
up €9,297 (+32.5%), from €28,634 to €37,931
- Taxes +€2,543
up €2,543 (+25.0%), from €10,168 to €12,712
- Financial income -€2,420
down €2,420 (-62.1%), from €3,895 to €1,475
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 | €1,076,517 | €1,149,672 | +€73,154 | +6.8% |
| Fixed assets | 21/28 | €644,682 | €739,730 | +€95,048 | +14.7% |
| Tangible fixed assets | 22/27 | €644,682 | €739,730 | +€95,048 | +14.7% |
| Land and buildings | 22 | €640,975 | €734,526 | +€93,551 | +14.6% |
| Plant, machinery and equipment | 23 | €2,165 | €1,648 | -€518 | -23.9% |
| Furniture and vehicles | 24 | €1,542 | €3,556 | +€2,014 | +130.7% |
| Current assets | 29/58 | €431,835 | €409,942 | -€21,893 | -5.1% |
| Amounts receivable within one year | 40/41 | €197,730 | €177,446 | -€20,284 | -10.3% |
| Trade receivables | 40 | €6,003 | €44,719 | +€38,716 | +644.9% |
| Other amounts receivable | 41 | €191,727 | €132,727 | -€59,000 | -30.8% |
| Current investments | 50/53 | €43,616 | €143,616 | +€100,000 | +229.3% |
| Cash at bank and in hand | 54/58 | €189,860 | €85,106 | -€104,754 | -55.2% |
| Deferred charges and accrued income | 490/1 | €630 | €3,774 | +€3,144 | +499.1% |
| Total equity and liabilities | 10/49 | €1,076,517 | €1,149,672 | +€73,154 | +6.8% |
| Equity | 10/15 | €571,233 | €598,309 | +€27,076 | +4.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €509,233 | €536,309 | +€27,076 | +5.3% |
| Non-distributable reserves | 130/1 | €65,000 | €65,000 | = | 0.0% |
| Legal reserve | 130 | €65,000 | €65,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €39,005 | €32,224 | -€6,781 | -17.4% |
| Distributable reserves | 133 | €405,228 | €439,085 | +€33,857 | +8.4% |
| Provisions and deferred taxes | 16 | €13,002 | €10,741 | -€2,260 | -17.4% |
| Deferred taxes | 168 | €13,002 | €10,741 | -€2,260 | -17.4% |
| Amounts payable | 17/49 | €492,283 | €540,621 | +€48,339 | +9.8% |
| Amounts payable after more than one year | 17 | €440,000 | €440,000 | = | 0.0% |
| Financial debts | 170/4 | €440,000 | €440,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €45,572 | €100,620 | +€55,048 | +120.8% |
| Trade debts | 44 | €17,451 | €60,635 | +€43,184 | +247.5% |
| Suppliers | 440/4 | €17,451 | €60,635 | +€43,184 | +247.5% |
| Taxes, remuneration and social security | 45 | - | €14,655 | +€14,655 | |
| Taxes | 450/3 | - | €14,655 | +€14,655 | |
| Other amounts payable | 47/48 | €28,121 | €25,330 | -€2,791 | -9.9% |
| Accrued charges and deferred income | 492/3 | €6,711 | €1 | -€6,710 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,634 | €37,931 | +€9,297 | +32.5% |
| Other operating charges | 640/8 | €12,329 | €12,955 | +€626 | +5.1% |
| Gross operating margin | 9900 | €83,712 | €108,033 | +€24,321 | +29.1% |
| Operating profit (loss) | 9901 | €42,749 | €57,147 | +€14,398 | +33.7% |
| Financial income | 75/76B | €3,895 | €1,475 | -€2,420 | -62.1% |
| Recurring financial income | 75 | €3,895 | €1,475 | -€2,420 | -62.1% |
| Financial charges | 65/66B | €21,074 | €21,095 | +€21 | +0.1% |
| Recurring financial charges | 65 | €21,074 | €21,095 | +€21 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €25,570 | €37,527 | +€11,957 | +46.8% |
| Transfer from deferred taxes | 780 | €2,370 | €2,260 | -€109 | -4.6% |
| Income taxes | 67/77 | €10,168 | €12,712 | +€2,543 | +25.0% |
| Profit (loss) for the period | 9904 | €17,771 | €27,076 | +€9,305 | +52.4% |
| Transfer from tax-exempt reserves | 789 | €7,109 | €6,781 | -€328 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €24,880 | €33,857 | +€8,977 | +36.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.