JOTO: 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.
JOTO
Largest movements
- Tangible fixed assets -€330,781
down €330,781 (-16.9%), from €2.0m to €1.6m
of which Plant, machinery and equipment: -€272,972
- Receivables within one year +€147,853
up €147,853 (+25.9%), from €569,833 to €717,686
of which Other amounts receivable: +€147,074
- Debts after one year -€118,178
down €118,178 (-10.7%), from €1.1m to €986,699
- Reserves -€114,715
down €114,715 (-7.9%), from €1.5m to €1.3m
- Trade debts +€46,470
up €46,470 (+46.4%), from €100,101 to €146,571
- Gross operating margin -€454,846
down €454,846 (-28.1%), from €1.6m to €1.2m
- Taxes -€96,368
down €96,368 (-100.0%), from €96,368 to €0
- Staff costs +€44,023
up €44,023 (+5.4%), from €809,596 to €853,619
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,036,152 | €2,857,023 | -€179,130 | -5.9% |
| Fixed assets | 21/28 | €1,960,467 | €1,629,687 | -€330,781 | -16.9% |
| Tangible fixed assets | 22/27 | €1,960,408 | €1,629,627 | -€330,781 | -16.9% |
| Land and buildings | 22 | €483,657 | €445,812 | -€37,846 | -7.8% |
| Plant, machinery and equipment | 23 | €1,378,056 | €1,105,084 | -€272,972 | -19.8% |
| Furniture and vehicles | 24 | €16,789 | €14,234 | -€2,555 | -15.2% |
| Other tangible fixed assets | 26 | €81,906 | €64,498 | -€17,408 | -21.3% |
| Financial fixed assets | 28 | €59 | €59 | = | 0.0% |
| Current assets | 29/58 | €1,075,685 | €1,227,336 | +€151,651 | +14.1% |
| Stocks and contracts in progress | 3 | €505,774 | €509,572 | +€3,798 | +0.8% |
| Stocks | 30/36 | €505,774 | €509,572 | +€3,798 | +0.8% |
| Amounts receivable within one year | 40/41 | €569,833 | €717,686 | +€147,853 | +25.9% |
| Trade receivables | 40 | €8,743 | €9,522 | +€779 | +8.9% |
| Other amounts receivable | 41 | €561,090 | €708,164 | +€147,074 | +26.2% |
| Deferred charges and accrued income | 490/1 | €77 | €77 | = | 0.0% |
| Total equity and liabilities | 10/49 | €3,036,152 | €2,857,023 | -€179,130 | -5.9% |
| Equity | 10/15 | €1,497,157 | €1,382,286 | -€114,872 | -7.7% |
| Contributions | 10/11 | €46,500 | €46,500 | = | 0.0% |
| Reserves | 13 | €1,450,500 | €1,335,786 | -€114,715 | -7.9% |
| Distributable reserves | 133 | €1,450,500 | €1,335,786 | -€114,715 | -7.9% |
| Profit (loss) carried forward | 14 | €157 | €0 | -€157 | -100.0% |
| Amounts payable | 17/49 | €1,538,995 | €1,474,737 | -€64,258 | -4.2% |
| Amounts payable after more than one year | 17 | €1,104,876 | €986,699 | -€118,178 | -10.7% |
| Financial debts | 170/4 | €1,104,876 | €986,699 | -€118,178 | -10.7% |
| Amounts payable within one year | 42/48 | €430,622 | €484,874 | +€54,252 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €116,202 | €118,178 | +€1,976 | +1.7% |
| Trade debts | 44 | €100,101 | €146,571 | +€46,470 | +46.4% |
| Suppliers | 440/4 | €100,101 | €146,571 | +€46,470 | +46.4% |
| Taxes, remuneration and social security | 45 | €118,957 | €142,950 | +€23,992 | +20.2% |
| Taxes | 450/3 | €20,412 | €26,644 | +€6,231 | +30.5% |
| Remuneration and social security | 454/9 | €98,545 | €116,306 | +€17,761 | +18.0% |
| Other amounts payable | 47/48 | €95,362 | €77,176 | -€18,186 | -19.1% |
| Accrued charges and deferred income | 492/3 | €3,497 | €3,164 | -€333 | -9.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €809,596 | €853,619 | +€44,023 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €374,469 | €373,236 | -€1,233 | -0.3% |
| Other operating charges | 640/8 | €36,350 | €38,833 | +€2,482 | +6.8% |
| Gross operating margin | 9900 | €1,620,036 | €1,165,190 | -€454,846 | -28.1% |
| Operating profit (loss) | 9901 | €399,620 | -€100,498 | -€500,119 | |
| Financial income | 75/76B | €4,079 | €5,972 | +€1,894 | +46.4% |
| Recurring financial income | 75 | €4,079 | €5,972 | +€1,894 | +46.4% |
| Financial charges | 65/66B | €22,798 | €20,346 | -€2,452 | -10.8% |
| Recurring financial charges | 65 | €22,798 | €20,346 | -€2,452 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €380,901 | -€114,872 | -€495,773 | |
| Income taxes | 67/77 | €96,368 | €0 | -€96,368 | -100.0% |
| Profit (loss) for the period | 9904 | €284,533 | -€114,872 | -€399,405 | |
| Profit (loss) for the period to be appropriated | 9905 | €284,533 | -€114,872 | -€399,405 |
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 30 September 2026 via checked.be.