JOTI: 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.
JOTI
Largest movements
- Cash -€206,296
down €206,296 (-96.7%), from €213,238 to €6,942
mainly Investment in fixed assets (net) (-€226,637) and Current portion of long-term debt (-€65,741)
- Tangible fixed assets +€162,182
up €162,182 (+15.7%), from €1.0m to €1.2m
of which Land and buildings: +€167,198
- Receivables after one year -€45,000
no longer reported in 2025 (was €45,000)
- Current portion of long-term debt -€65,741
down €65,741 (-63.6%), from €103,356 to €37,615
- Reserves -€63,800
down €63,800 (-8.3%), from €772,179 to €708,379
of which Distributable reserves: -€51,459
- Debts after one year +€36,268
up €36,268 (+14.2%), from €255,329 to €291,597
- Trade debts +€32,207
up €32,207 (+151.2%), from €21,303 to €53,509
- Tax, wage and social debts -€26,076
down €26,076 (-68.5%), from €38,081 to €12,005
- Gross operating margin -€210,654
down €210,654 (-95.7%), from €220,219 to €9,565
- Taxes -€47,005
no longer reported in 2025 (was €47,005)
- Other operating charges -€29,151
down €29,151 (-93.7%), from €31,100 to €1,948
- Depreciation +€5,112
up €5,112 (+8.6%), from €59,343 to €64,455
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 | €1,315,525 | €1,222,457 | -€93,068 | -7.1% |
| Fixed assets | 21/28 | €1,035,451 | €1,197,632 | +€162,182 | +15.7% |
| Tangible fixed assets | 22/27 | €1,035,451 | €1,197,632 | +€162,182 | +15.7% |
| Land and buildings | 22 | €1,028,160 | €1,195,358 | +€167,198 | +16.3% |
| Plant, machinery and equipment | 23 | €1,869 | €660 | -€1,208 | -64.7% |
| Furniture and vehicles | 24 | €5,422 | €1,614 | -€3,808 | -70.2% |
| Current assets | 29/58 | €280,075 | €24,825 | -€255,250 | -91.1% |
| Amounts receivable after more than one year | 29 | €45,000 | - | -€45,000 | |
| Other amounts receivable | 291 | €45,000 | - | -€45,000 | |
| Amounts receivable within one year | 40/41 | €19,463 | €14,504 | -€4,958 | -25.5% |
| Trade receivables | 40 | €19,463 | €6,099 | -€13,364 | -68.7% |
| Other amounts receivable | 41 | - | €8,405 | +€8,405 | |
| Cash at bank and in hand | 54/58 | €213,238 | €6,942 | -€206,296 | -96.7% |
| Deferred charges and accrued income | 490/1 | €2,374 | €3,378 | +€1,004 | +42.3% |
| Total equity and liabilities | 10/49 | €1,315,525 | €1,222,457 | -€93,068 | -7.1% |
| Equity | 10/15 | €824,336 | €760,536 | -€63,800 | -7.7% |
| Contributions | 10/11 | €52,157 | €52,157 | = | 0.0% |
| Reserves | 13 | €772,179 | €708,379 | -€63,800 | -8.3% |
| Tax-exempt reserves | 132 | €206,573 | €194,233 | -€12,341 | -6.0% |
| Distributable reserves | 133 | €565,606 | €514,146 | -€51,459 | -9.1% |
| Provisions and deferred taxes | 16 | €68,858 | €64,744 | -€4,114 | -6.0% |
| Deferred taxes | 168 | €68,858 | €64,744 | -€4,114 | -6.0% |
| Amounts payable | 17/49 | €422,331 | €397,177 | -€25,154 | -6.0% |
| Amounts payable after more than one year | 17 | €255,329 | €291,597 | +€36,268 | +14.2% |
| Financial debts | 170/4 | €255,329 | €291,597 | +€36,268 | +14.2% |
| Amounts payable within one year | 42/48 | €162,739 | €103,630 | -€59,110 | -36.3% |
| Current portion of amounts payable after more than one year | 42 | €103,356 | €37,615 | -€65,741 | -63.6% |
| Trade debts | 44 | €21,303 | €53,509 | +€32,207 | +151.2% |
| Suppliers | 440/4 | €21,303 | €53,509 | +€32,207 | +151.2% |
| Taxes, remuneration and social security | 45 | €38,081 | €12,005 | -€26,076 | -68.5% |
| Taxes | 450/3 | €38,081 | €12,005 | -€26,076 | -68.5% |
| Other amounts payable | 47/48 | - | €500 | +€500 | |
| Accrued charges and deferred income | 492/3 | €4,263 | €1,951 | -€2,312 | -54.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,343 | €64,455 | +€5,112 | +8.6% |
| Other operating charges | 640/8 | €31,100 | €1,948 | -€29,151 | -93.7% |
| Non-recurring operating charges | 66A | €4,228 | €321 | -€3,907 | -92.4% |
| Gross operating margin | 9900 | €220,219 | €9,565 | -€210,654 | -95.7% |
| Operating profit (loss) | 9901 | €125,549 | -€57,159 | -€182,708 | |
| Financial income | 75/76B | €1 | €10 | +€9 | +890.1% |
| Recurring financial income | 75 | €1 | €10 | +€9 | +890.1% |
| Financial charges | 65/66B | €10,102 | €10,765 | +€663 | +6.6% |
| Recurring financial charges | 65 | €10,102 | €10,765 | +€663 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €115,448 | -€67,914 | -€183,362 | |
| Transfer from deferred taxes | 780 | €18,719 | €4,114 | -€14,605 | -78.0% |
| Income taxes | 67/77 | €47,005 | - | -€47,005 | |
| Profit (loss) for the period | 9904 | €87,162 | -€63,800 | -€150,962 | |
| Transfer from tax-exempt reserves | 789 | €56,156 | €12,341 | -€43,815 | -78.0% |
| Profit (loss) for the period to be appropriated | 9905 | €143,318 | -€51,459 | -€194,777 |
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 3 October 2026 via checked.be.