JOVACO: 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.
JOVACO
Largest movements
- Receivables within one year +€14,041
up €14,041 (+56.9%), from €24,680 to €38,721
of which Other amounts receivable: +€17,746
- Tangible fixed assets +€4,647
up €4,647 (+145.1%), from €3,202 to €7,849
of which Other tangible fixed assets: +€4,797
- Cash +€3,158
up €3,158 (+4.0%), from €78,813 to €81,971
mainly Net result for the year (+€36,786) and Depreciation (+€744)
- Reserves +€36,786
up €36,786 (+57.6%), from €63,879 to €100,665
- Trade debts -€10,482
down €10,482 (-65.4%), from €16,015 to €5,534
- Tax, wage and social debts -€4,062
down €4,062 (-19.0%), from €21,365 to €17,303
- Gross operating margin -€15,223
down €15,223 (-22.4%), from €68,059 to €52,835
- Taxes -€3,036
down €3,036 (-18.3%), from €16,553 to €13,517
- Financial income +€862
up €862 (+767.3%), from €112 to €974
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 | €107,437 | €130,040 | +€22,602 | +21.0% |
| Fixed assets | 21/28 | €3,202 | €7,849 | +€4,647 | +145.1% |
| Tangible fixed assets | 22/27 | €3,202 | €7,849 | +€4,647 | +145.1% |
| Plant, machinery and equipment | 23 | €2,825 | €2,892 | +€67 | +2.4% |
| Furniture and vehicles | 24 | €377 | €160 | -€217 | -57.6% |
| Other tangible fixed assets | 26 | - | €4,797 | +€4,797 | |
| Current assets | 29/58 | €104,236 | €122,191 | +€17,956 | +17.2% |
| Amounts receivable within one year | 40/41 | €24,680 | €38,721 | +€14,041 | +56.9% |
| Trade receivables | 40 | €17,795 | €14,090 | -€3,705 | -20.8% |
| Other amounts receivable | 41 | €6,885 | €24,632 | +€17,746 | +257.7% |
| Cash at bank and in hand | 54/58 | €78,813 | €81,971 | +€3,158 | +4.0% |
| Deferred charges and accrued income | 490/1 | €743 | €1,498 | +€756 | +101.8% |
| Total equity and liabilities | 10/49 | €107,437 | €130,040 | +€22,602 | +21.0% |
| Equity | 10/15 | €69,879 | €106,665 | +€36,786 | +52.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €63,879 | €100,665 | +€36,786 | +57.6% |
| Distributable reserves | 133 | €63,879 | €100,665 | +€36,786 | +57.6% |
| Amounts payable | 17/49 | €37,558 | €23,375 | -€14,183 | -37.8% |
| Amounts payable within one year | 42/48 | €37,388 | €23,077 | -€14,311 | -38.3% |
| Financial debts | 43 | €8 | €0 | -€8 | -100.0% |
| Credit institutions | 430/8 | €8 | €0 | -€8 | -100.0% |
| Trade debts | 44 | €16,015 | €5,534 | -€10,482 | -65.4% |
| Suppliers | 440/4 | €16,015 | €5,534 | -€10,482 | -65.4% |
| Taxes, remuneration and social security | 45 | €21,365 | €17,303 | -€4,062 | -19.0% |
| Taxes | 450/3 | €21,365 | €17,303 | -€4,062 | -19.0% |
| Other amounts payable | 47/48 | €0 | €240 | +€240 | |
| Accrued charges and deferred income | 492/3 | €170 | €298 | +€128 | +75.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €540 | €744 | +€204 | +37.7% |
| Other operating charges | 640/8 | €1,251 | €1,316 | +€65 | +5.2% |
| Gross operating margin | 9900 | €68,059 | €52,835 | -€15,223 | -22.4% |
| Operating profit (loss) | 9901 | €66,267 | €50,775 | -€15,492 | -23.4% |
| Financial income | 75/76B | €112 | €974 | +€862 | +767.3% |
| Recurring financial income | 75 | €112 | €974 | +€862 | +767.3% |
| Financial charges | 65/66B | €1,921 | €1,447 | -€474 | -24.7% |
| Recurring financial charges | 65 | €1,921 | €1,447 | -€474 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €64,459 | €50,303 | -€14,156 | -22.0% |
| Income taxes | 67/77 | €16,553 | €13,517 | -€3,036 | -18.3% |
| Profit (loss) for the period | 9904 | €47,906 | €36,786 | -€11,120 | -23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,906 | €36,786 | -€11,120 | -23.2% |
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.