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
- Cash +€9,652
up €9,652 (+162.0%), from €5,957 to €15,609
mainly Net result for the year (+€6,980) and Trade debts (+€1,434)
- Deferred charges and accrued income +€1,133
up €1,133 (+230.5%), from €492 to €1,625
- Receivables within one year -€1,009
down €1,009 (-21.9%), from €4,599 to €3,590
of which Trade receivables: -€4,599
- Tangible fixed assets -€572
down €572 (-21.4%), from €2,675 to €2,103
- Reserves +€6,980
up €6,980 (+285.7%), from €2,443 to €9,423
- Trade debts +€1,434
up €1,434 (+322.2%), from €445 to €1,879
- Tax, wage and social debts +€790
up €790 (+13.5%), from €5,835 to €6,625
- Gross operating margin +€8,965
up €8,965 (+226.8%), from €3,953 to €12,918
- Taxes +€2,646
up €2,646 (+197.2%), from €1,342 to €3,989
- Financial charges +€974
up €974 (+14629.3%), from €7 to €981
- Other operating charges +€449
new in 2025: €449
- Depreciation +€386
up €386 (+206.7%), from €187 to €572
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 | €13,723 | €22,927 | +€9,204 | +67.1% |
| Fixed assets | 21/28 | €2,675 | €2,103 | -€572 | -21.4% |
| Tangible fixed assets | 22/27 | €2,675 | €2,103 | -€572 | -21.4% |
| Furniture and vehicles | 24 | €2,675 | €2,103 | -€572 | -21.4% |
| Current assets | 29/58 | €11,048 | €20,824 | +€9,776 | +88.5% |
| Amounts receivable within one year | 40/41 | €4,599 | €3,590 | -€1,009 | -21.9% |
| Trade receivables | 40 | €4,599 | - | -€4,599 | |
| Other amounts receivable | 41 | - | €3,590 | +€3,590 | |
| Cash at bank and in hand | 54/58 | €5,957 | €15,609 | +€9,652 | +162.0% |
| Deferred charges and accrued income | 490/1 | €492 | €1,625 | +€1,133 | +230.5% |
| Total equity and liabilities | 10/49 | €13,723 | €22,927 | +€9,204 | +67.1% |
| Equity | 10/15 | €7,443 | €14,423 | +€6,980 | +93.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,443 | €9,423 | +€6,980 | +285.7% |
| Distributable reserves | 133 | €2,443 | €9,423 | +€6,980 | +285.7% |
| Amounts payable | 17/49 | €6,280 | €8,504 | +€2,224 | +35.4% |
| Amounts payable within one year | 42/48 | €6,280 | €8,504 | +€2,224 | +35.4% |
| Trade debts | 44 | €445 | €1,879 | +€1,434 | +322.2% |
| Suppliers | 440/4 | €445 | €1,879 | +€1,434 | +322.2% |
| Taxes, remuneration and social security | 45 | €5,835 | €6,625 | +€790 | +13.5% |
| Taxes | 450/3 | €5,835 | €6,625 | +€790 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187 | €572 | +€386 | +206.7% |
| Other operating charges | 640/8 | - | €449 | +€449 | |
| Gross operating margin | 9900 | €3,953 | €12,918 | +€8,965 | +226.8% |
| Operating profit (loss) | 9901 | €3,767 | €11,896 | +€8,129 | +215.8% |
| Financial income | 75/76B | €25 | €53 | +€28 | +112.3% |
| Recurring financial income | 75 | €25 | €53 | +€28 | +112.3% |
| Financial charges | 65/66B | €7 | €981 | +€974 | +14629.3% |
| Recurring financial charges | 65 | €7 | €981 | +€974 | +14629.3% |
| Profit (loss) for the period before taxes | 9903 | €3,785 | €10,969 | +€7,183 | +189.8% |
| Income taxes | 67/77 | €1,342 | €3,989 | +€2,646 | +197.2% |
| Profit (loss) for the period | 9904 | €2,443 | €6,980 | +€4,537 | +185.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,443 | €6,980 | +€4,537 | +185.7% |
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.