JOSIE: 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.
JOSIE
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Cash -€64,677
down €64,677 (-13.5%), from €479,316 to €414,638
mainly Current investments (-€150,000) and Advances received (-€44,999)
- Stocks and contracts +€17,948
up €17,948 (+25.4%), from €70,646 to €88,595
- Receivables within one year +€10,311
up €10,311 (+17.6%), from €58,447 to €68,758
of which Trade receivables: +€6,521
- Tangible fixed assets -€9,409
down €9,409 (-31.1%), from €30,219 to €20,810
of which Plant, machinery and equipment: -€6,866
- Reserves +€88,594
up €88,594 (+307%), from €28,846 to €117,440
- Advances received -€44,999
no longer reported in 2025 (was €44,999)
- Trade debts +€29,791
up €29,791 (+122%), from €24,355 to €54,146
- Tax, wage and social debts +€18,544
up €18,544 (+615%), from €3,013 to €21,557
of which Taxes: +€18,284
- Other debts +€12,000
new in 2025: €12,000
- Gross operating margin +€75,147
up €75,147 (+102%), from €73,786 to €148,933
- Taxes +€14,072
up €14,072 (+65.4%), from €21,516 to €35,588
- Financial charges -€4,591
down €4,591 (-82.2%), from €5,584 to €993
- Depreciation -€4,065
down €4,065 (-30.2%), from €13,474 to €9,409
- Staff costs +€2,476
up €2,476 (+278%), from €892 to €3,368
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 | €640,937 | €744,866 | +€103,929 | +16.2% |
| Fixed assets | 21/28 | €30,219 | €20,810 | -€9,409 | -31.1% |
| Tangible fixed assets | 22/27 | €30,219 | €20,810 | -€9,409 | -31.1% |
| Land and buildings | 22 | €11,889 | €9,346 | -€2,543 | -21.4% |
| Plant, machinery and equipment | 23 | €18,330 | €11,464 | -€6,866 | -37.5% |
| Current assets | 29/58 | €610,718 | €724,056 | +€113,338 | +18.6% |
| Stocks and contracts in progress | 3 | €70,646 | €88,595 | +€17,948 | +25.4% |
| Stocks | 30/36 | €70,646 | €88,595 | +€17,948 | +25.4% |
| Amounts receivable within one year | 40/41 | €58,447 | €68,758 | +€10,311 | +17.6% |
| Trade receivables | 40 | €46,020 | €52,541 | +€6,521 | +14.2% |
| Other amounts receivable | 41 | €12,427 | €16,217 | +€3,790 | +30.5% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €479,316 | €414,638 | -€64,677 | -13.5% |
| Deferred charges and accrued income | 490/1 | €2,310 | €2,066 | -€244 | -10.6% |
| Total equity and liabilities | 10/49 | €640,937 | €744,866 | +€103,929 | +16.2% |
| Equity | 10/15 | €568,570 | €657,164 | +€88,594 | +15.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €28,846 | €117,440 | +€88,594 | +307% |
| Distributable reserves | 133 | €28,846 | €117,440 | +€88,594 | +307% |
| Profit (loss) carried forward | 14 | €521,132 | €521,132 | = | 0.0% |
| Amounts payable | 17/49 | €72,367 | €87,703 | +€15,335 | +21.2% |
| Amounts payable within one year | 42/48 | €72,367 | €87,703 | +€15,335 | +21.2% |
| Trade debts | 44 | €24,355 | €54,146 | +€29,791 | +122% |
| Suppliers | 440/4 | €24,355 | €54,146 | +€29,791 | +122% |
| Advances received on contracts in progress | 46 | €44,999 | - | -€44,999 | |
| Taxes, remuneration and social security | 45 | €3,013 | €21,557 | +€18,544 | +615% |
| Taxes | 450/3 | €207 | €18,491 | +€18,284 | +8,849% |
| Remuneration and social security | 454/9 | €2,806 | €3,066 | +€259 | +9.2% |
| Other amounts payable | 47/48 | - | €12,000 | +€12,000 | |
| Remuneration, social security and pensions | 62 | €892 | €3,368 | +€2,476 | +278% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,474 | €9,409 | -€4,065 | -30.2% |
| Other operating charges | 640/8 | €2,005 | €1,289 | -€716 | -35.7% |
| Non-recurring operating charges | 66A | €3,695 | - | -€3,695 | |
| Gross operating margin | 9900 | €73,786 | €148,933 | +€75,147 | +102% |
| Operating profit (loss) | 9901 | €53,720 | €134,868 | +€81,147 | +151% |
| Financial income | 75/76B | €366 | €2,307 | +€1,941 | +530% |
| Recurring financial income | 75 | €366 | €2,307 | +€1,941 | +530% |
| Financial charges | 65/66B | €5,584 | €993 | -€4,591 | -82.2% |
| Recurring financial charges | 65 | €5,584 | €993 | -€4,591 | -82.2% |
| Profit (loss) for the period before taxes | 9903 | €48,502 | €136,182 | +€87,680 | +181% |
| Income taxes | 67/77 | €21,516 | €35,588 | +€14,072 | +65.4% |
| Profit (loss) for the period | 9904 | €26,986 | €100,594 | +€73,608 | +273% |
| Profit (loss) for the period to be appropriated | 9905 | €26,986 | €100,594 | +€73,608 | +273% |
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 21 October 2026 via checked.be.