JOTHEL: 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.
JOTHEL
Largest movements
- Intangible fixed assets -€76,885
no longer reported in 2025 (was €76,885)
- Deferred charges and accrued income +€59,081
up €59,081 (+1,688%), from €3,501 to €62,582
- Tangible fixed assets -€51,372
down €51,372 (-20.1%), from €256,200 to €204,828
- Stocks and contracts +€33,828
up €33,828 (+11.9%), from €285,086 to €318,914
- Other debts +€510,936
up €510,936 (+7,722%), from €6,616 to €517,552
- Profit (loss) carried forward -€262,868
down €262,868 (-107%), from -€246,173 to -€509,041
- Trade debts -€177,473
down €177,473 (-49.5%), from €358,250 to €180,777
- Debts after one year -€63,092
down €63,092 (-3.4%), from €1.9m to €1.8m
of which Financial debts: -€63,092
- Tax, wage and social debts -€40,788
down €40,788 (-55.1%), from €74,065 to €33,277
of which Remuneration and social security: -€40,788
- Staff costs -€101,637
down €101,637 (-22.8%), from €444,898 to €343,260
- Gross operating margin -€90,278
down €90,278 (-25.7%), from €351,079 to €260,802
- Other operating charges +€19,637
up €19,637 (+536%), from €3,667 to €23,304
- Depreciation -€7,115
down €7,115 (-5.3%), from €135,372 to €128,257
- Financial charges -€6,607
down €6,607 (-21.9%), from €30,201 to €23,594
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 | €2,206,236 | €2,174,248 | -€31,988 | -1.4% |
| Fixed assets | 21/28 | €1,622,236 | €1,481,144 | -€141,092 | -8.7% |
| Intangible fixed assets | 21 | €76,885 | - | -€76,885 | |
| Tangible fixed assets | 22/27 | €256,200 | €204,828 | -€51,372 | -20.1% |
| Land and buildings | 22 | €44,814 | €24,842 | -€19,972 | -44.6% |
| Plant, machinery and equipment | 23 | €116,766 | €99,804 | -€16,962 | -14.5% |
| Furniture and vehicles | 24 | €94,620 | €80,182 | -€14,438 | -15.3% |
| Financial fixed assets | 28 | €1,289,150 | €1,276,315 | -€12,835 | -1.0% |
| Current assets | 29/58 | €584,000 | €693,104 | +€109,105 | +18.7% |
| Stocks and contracts in progress | 3 | €285,086 | €318,914 | +€33,828 | +11.9% |
| Stocks | 30/36 | €285,086 | €318,914 | +€33,828 | +11.9% |
| Amounts receivable within one year | 40/41 | €47,552 | €66,084 | +€18,531 | +39.0% |
| Trade receivables | 40 | €4,804 | - | -€4,804 | |
| Other amounts receivable | 41 | €42,748 | €66,084 | +€23,335 | +54.6% |
| Cash at bank and in hand | 54/58 | €247,861 | €245,525 | -€2,336 | -0.9% |
| Deferred charges and accrued income | 490/1 | €3,501 | €62,582 | +€59,081 | +1,688% |
| Total equity and liabilities | 10/49 | €2,206,236 | €2,174,248 | -€31,988 | -1.4% |
| Equity | 10/15 | -€177,473 | -€440,341 | -€262,868 | -148% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€246,173 | -€509,041 | -€262,868 | -107% |
| Amounts payable | 17/49 | €2,383,709 | €2,614,589 | +€230,880 | +9.7% |
| Amounts payable after more than one year | 17 | €1,882,983 | €1,819,891 | -€63,092 | -3.4% |
| Financial debts | 170/4 | €171,198 | €108,107 | -€63,092 | -36.9% |
| Other amounts payable | 178/9 | €1,711,785 | €1,711,785 | = | 0.0% |
| Amounts payable within one year | 42/48 | €500,726 | €794,698 | +€293,972 | +58.7% |
| Current portion of amounts payable after more than one year | 42 | €61,795 | €63,092 | +€1,297 | +2.1% |
| Trade debts | 44 | €358,250 | €180,777 | -€177,473 | -49.5% |
| Suppliers | 440/4 | €358,250 | €180,777 | -€177,473 | -49.5% |
| Taxes, remuneration and social security | 45 | €74,065 | €33,277 | -€40,788 | -55.1% |
| Taxes | 450/3 | €69 | €69 | = | 0.0% |
| Remuneration and social security | 454/9 | €73,996 | €33,209 | -€40,788 | -55.1% |
| Other amounts payable | 47/48 | €6,616 | €517,552 | +€510,936 | +7,722% |
| Non-recurring operating income | 76A | €2,210 | €0 | -€2,210 | -100.0% |
| Remuneration, social security and pensions | 62 | €444,898 | €343,260 | -€101,637 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,372 | €128,257 | -€7,115 | -5.3% |
| Other operating charges | 640/8 | €3,667 | €23,304 | +€19,637 | +536% |
| Non-recurring operating charges | 66A | - | €7,717 | +€7,717 | |
| Gross operating margin | 9900 | €351,079 | €260,802 | -€90,278 | -25.7% |
| Operating profit (loss) | 9901 | -€232,857 | -€241,736 | -€8,879 | -3.8% |
| Financial income | 75/76B | €5,127 | €2,463 | -€2,664 | -52.0% |
| Recurring financial income | 75 | €5,127 | €2,463 | -€2,664 | -52.0% |
| Financial charges | 65/66B | €30,201 | €23,594 | -€6,607 | -21.9% |
| Recurring financial charges | 65 | €30,201 | €23,594 | -€6,607 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | -€257,931 | -€262,868 | -€4,937 | -1.9% |
| Transfer from deferred taxes | 780 | €116,965 | - | -€116,965 | |
| Profit (loss) for the period | 9904 | -€140,967 | -€262,868 | -€121,901 | -86.5% |
| Transfer from tax-exempt reserves | 789 | €350,894 | - | -€350,894 | |
| Profit (loss) for the period to be appropriated | 9905 | €209,927 | -€262,868 | -€472,795 |
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 20 October 2026 via checked.be.