JOVA: 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.
JOVA
Largest movements
- Receivables after one year +€122,961
up €122,961 (+28.6%), from €430,000 to €552,961
- Deferred charges and accrued income -€68,221
down €68,221 (-55.6%), from €122,774 to €54,553
- Tangible fixed assets -€32,904
down €32,904 (-3.5%), from €946,032 to €913,128
- Debts after one year -€48,651
down €48,651 (-7.4%), from €653,333 to €604,682
- Reserves +€33,836
up €33,836 (+4.9%), from €687,830 to €721,666
of which Distributable reserves: +€36,960
- Taxes +€11,415
up €11,415 (+466.4%), from €2,447 to €13,862
- Gross operating margin +€2,568
up €2,568 (+2.6%), from €100,234 to €102,802
- Financial income +€2,083
up €2,083 (+24.2%), from €8,617 to €10,700
- Financial charges -€2,071
down €2,071 (-9.9%), from €21,000 to €18,930
- Other operating charges +€1,511
up €1,511 (+67.6%), from €2,235 to €3,746
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 | €1,999,033 | €2,000,232 | +€1,199 | +0.1% |
| Fixed assets | 21/28 | €946,032 | €913,128 | -€32,904 | -3.5% |
| Tangible fixed assets | 22/27 | €946,032 | €913,128 | -€32,904 | -3.5% |
| Land and buildings | 22 | €946,032 | €913,128 | -€32,904 | -3.5% |
| Current assets | 29/58 | €1,053,001 | €1,087,104 | +€34,103 | +3.2% |
| Amounts receivable after more than one year | 29 | €430,000 | €552,961 | +€122,961 | +28.6% |
| Other amounts receivable | 291 | €430,000 | €552,961 | +€122,961 | +28.6% |
| Amounts receivable within one year | 40/41 | €353,625 | €334,145 | -€19,480 | -5.5% |
| Trade receivables | 40 | €2,546 | €0 | -€2,546 | -100.0% |
| Other amounts receivable | 41 | €351,079 | €334,145 | -€16,934 | -4.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €146,603 | €145,446 | -€1,157 | -0.8% |
| Deferred charges and accrued income | 490/1 | €122,774 | €54,553 | -€68,221 | -55.6% |
| Total equity and liabilities | 10/49 | €1,999,033 | €2,000,232 | +€1,199 | +0.1% |
| Equity | 10/15 | €961,190 | €995,026 | +€33,836 | +3.5% |
| Contributions | 10/11 | €273,360 | €273,360 | = | 0.0% |
| Capital | 10 | €273,360 | €273,360 | = | 0.0% |
| Issued capital | 100 | €273,360 | €273,360 | = | 0.0% |
| Reserves | 13 | €687,830 | €721,666 | +€33,836 | +4.9% |
| Non-distributable reserves | 130/1 | €27,336 | €27,336 | = | 0.0% |
| Legal reserve | 130 | €27,336 | €27,336 | = | 0.0% |
| Tax-exempt reserves | 132 | €237,507 | €234,383 | -€3,123 | -1.3% |
| Distributable reserves | 133 | €422,987 | €459,947 | +€36,960 | +8.7% |
| Provisions and deferred taxes | 16 | €33,666 | €32,580 | -€1,086 | -3.2% |
| Deferred taxes | 168 | €33,666 | €32,580 | -€1,086 | -3.2% |
| Amounts payable | 17/49 | €1,004,178 | €972,626 | -€31,552 | -3.1% |
| Amounts payable after more than one year | 17 | €653,333 | €604,682 | -€48,651 | -7.4% |
| Financial debts | 170/4 | €653,333 | €604,682 | -€48,651 | -7.4% |
| Amounts payable within one year | 42/48 | €350,845 | €367,944 | +€17,099 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €46,687 | €48,651 | +€1,963 | +4.2% |
| Trade debts | 44 | €3,897 | €7,626 | +€3,729 | +95.7% |
| Suppliers | 440/4 | €3,897 | €7,626 | +€3,729 | +95.7% |
| Taxes, remuneration and social security | 45 | €2,442 | €13,866 | +€11,424 | +467.8% |
| Taxes | 450/3 | €2,442 | €13,866 | +€11,424 | +467.8% |
| Other amounts payable | 47/48 | €297,818 | €297,800 | -€18 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,268 | €44,214 | +€946 | +2.2% |
| Other operating charges | 640/8 | €2,235 | €3,746 | +€1,511 | +67.6% |
| Gross operating margin | 9900 | €100,234 | €102,802 | +€2,568 | +2.6% |
| Operating profit (loss) | 9901 | €54,731 | €54,842 | +€111 | +0.2% |
| Financial income | 75/76B | €8,617 | €10,700 | +€2,083 | +24.2% |
| Recurring financial income | 75 | €8,617 | €10,700 | +€2,083 | +24.2% |
| Financial charges | 65/66B | €21,000 | €18,930 | -€2,071 | -9.9% |
| Recurring financial charges | 65 | €21,000 | €18,930 | -€2,071 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €42,348 | €46,613 | +€4,264 | +10.1% |
| Transfer from deferred taxes | 780 | €1,086 | €1,086 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €2,447 | €13,862 | +€11,415 | +466.4% |
| Profit (loss) for the period | 9904 | €40,987 | €33,836 | -€7,150 | -17.4% |
| Transfer from tax-exempt reserves | 789 | €3,123 | €3,123 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €44,110 | €36,960 | -€7,150 | -16.2% |
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 8 October 2026 via checked.be.