JOSINI: 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.
JOSINI
Largest movements
- Receivables within one year +€10,328
up €10,328 (+30.8%), from €33,528 to €43,856
of which Trade receivables: +€7,927
- Stocks and contracts -€9,881
down €9,881 (-21.4%), from €46,131 to €36,250
- Tangible fixed assets +€5,691
up €5,691 (+7.5%), from €76,189 to €81,880
of which Plant, machinery and equipment: +€6,620
- Cash +€2,415
up €2,415 (+11.8%), from €20,407 to €22,822
mainly Depreciation (+€15,816) and Stocks and contracts (+€9,881)
- Debts after one year -€10,075
down €10,075 (-12.2%), from €82,497 to €72,422
- Current portion of long-term debt +€7,883
up €7,883 (+45.3%), from €17,385 to €25,267
- Trade debts +€7,651
up €7,651 (+354.2%), from €2,160 to €9,812
- Other operating charges +€5,452
up €5,452 (+500.7%), from €1,089 to €6,540
- Depreciation +€1,773
up €1,773 (+12.6%), from €14,043 to €15,816
- Taxes -€972
down €972 (-29.8%), from €3,265 to €2,293
- Financial charges +€661
up €661 (+13.5%), from €4,887 to €5,548
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 | €177,060 | €185,724 | +€8,664 | +4.9% |
| Fixed assets | 21/28 | €76,389 | €82,080 | +€5,691 | +7.4% |
| Tangible fixed assets | 22/27 | €76,189 | €81,880 | +€5,691 | +7.5% |
| Land and buildings | 22 | €52,037 | €48,176 | -€3,861 | -7.4% |
| Plant, machinery and equipment | 23 | - | €6,620 | +€6,620 | |
| Furniture and vehicles | 24 | €24,152 | €27,083 | +€2,931 | +12.1% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €100,672 | €103,645 | +€2,973 | +3.0% |
| Stocks and contracts in progress | 3 | €46,131 | €36,250 | -€9,881 | -21.4% |
| Stocks | 30/36 | €46,131 | €36,250 | -€9,881 | -21.4% |
| Amounts receivable within one year | 40/41 | €33,528 | €43,856 | +€10,328 | +30.8% |
| Trade receivables | 40 | €3,606 | €11,534 | +€7,927 | +219.8% |
| Other amounts receivable | 41 | €29,922 | €32,323 | +€2,401 | +8.0% |
| Cash at bank and in hand | 54/58 | €20,407 | €22,822 | +€2,415 | +11.8% |
| Deferred charges and accrued income | 490/1 | €606 | €716 | +€110 | +18.2% |
| Total equity and liabilities | 10/49 | €177,060 | €185,724 | +€8,664 | +4.9% |
| Equity | 10/15 | €65,968 | €67,129 | +€1,161 | +1.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €53,568 | €54,729 | +€1,161 | +2.2% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €51,708 | €54,729 | +€3,021 | +5.8% |
| Amounts payable | 17/49 | €111,093 | €118,595 | +€7,503 | +6.8% |
| Amounts payable after more than one year | 17 | €82,497 | €72,422 | -€10,075 | -12.2% |
| Financial debts | 170/4 | €82,497 | €72,422 | -€10,075 | -12.2% |
| Amounts payable within one year | 42/48 | €28,596 | €45,170 | +€16,574 | +58.0% |
| Current portion of amounts payable after more than one year | 42 | €17,385 | €25,267 | +€7,883 | +45.3% |
| Trade debts | 44 | €2,160 | €9,812 | +€7,651 | +354.2% |
| Suppliers | 440/4 | €2,160 | €9,812 | +€7,651 | +354.2% |
| Taxes, remuneration and social security | 45 | €9,051 | €10,091 | +€1,040 | +11.5% |
| Taxes | 450/3 | €8,355 | €8,183 | -€172 | -2.1% |
| Remuneration and social security | 454/9 | €696 | €1,907 | +€1,212 | +174.2% |
| Accrued charges and deferred income | 492/3 | - | €1,003 | +€1,003 | |
| Remuneration, social security and pensions | 62 | €8,985 | €8,646 | -€340 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,043 | €15,816 | +€1,773 | +12.6% |
| Other operating charges | 640/8 | €1,089 | €6,540 | +€5,452 | +500.7% |
| Gross operating margin | 9900 | €38,225 | €38,305 | +€79 | +0.2% |
| Operating profit (loss) | 9901 | €14,108 | €7,303 | -€6,805 | -48.2% |
| Financial income | 75/76B | €1,894 | €1,699 | -€195 | -10.3% |
| Recurring financial income | 75 | €1,894 | €1,699 | -€195 | -10.3% |
| Financial charges | 65/66B | €4,887 | €5,548 | +€661 | +13.5% |
| Recurring financial charges | 65 | €4,887 | €5,548 | +€661 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €11,116 | €3,454 | -€7,662 | -68.9% |
| Income taxes | 67/77 | €3,265 | €2,293 | -€972 | -29.8% |
| Profit (loss) for the period | 9904 | €7,850 | €1,161 | -€6,689 | -85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,850 | €1,161 | -€6,689 | -85.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.