JOVADRI: what changed
Two financial 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.
JOVADRI
Largest movements
- Receivables within one year +€102,235
up €102,235 (+85.2%), from €119,955 to €222,190
of which Other amounts receivable: +€85,312
- Debts after one year +€700,390
up €700,390 (+216%), from €324,437 to €1.0m
of which Financial debts: +€646,690
- Other debts -€430,475
down €430,475 (-74.2%), from €580,475 to €150,000
- Profit (loss) carried forward -€121,045
down €121,045, from €13,321 to -€107,724
- Tax, wage and social debts -€31,781
down €31,781 (-82.5%), from €38,530 to €6,749
of which Remuneration and social security: -€17,340
- Gross operating margin -€137,921
down €137,921, from €99,814 to -€38,107
- Staff costs -€4,652
down €4,652 (-6.9%), from €67,453 to €62,801
- Taxes +€1,215
up €1,215 (+211%), from €575 to €1,790
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.
Derived cash bridge
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 | €2,373,709 | €2,478,295 | +€104,586 | +4.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,252,331 | €2,243,055 | -€9,277 | -0.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,050,886 | €1,041,610 | -€9,277 | -0.9% |
| Land and buildings | 22 | €1,039,291 | €1,039,291 | = | 0.0% |
| Furniture and vehicles | 24 | €11,596 | €2,319 | -€9,277 | -80.0% |
| Financial fixed assets | 28 | €1,201,445 | €1,201,445 | = | 0.0% |
| Current assets | 29/58 | €121,378 | €235,241 | +€113,863 | +93.8% |
| Amounts receivable within one year | 40/41 | €119,955 | €222,190 | +€102,235 | +85.2% |
| Trade receivables | 40 | €116,272 | €133,195 | +€16,924 | +14.6% |
| Other amounts receivable | 41 | €3,683 | €88,995 | +€85,312 | +2,316% |
| Cash at bank and in hand | 54/58 | €1,423 | €13,051 | +€11,628 | +817% |
| Total equity and liabilities | 10/49 | €2,373,709 | €2,478,295 | +€104,586 | +4.4% |
| Equity | 10/15 | €1,347,497 | €1,226,452 | -€121,045 | -9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €915,344 | €915,344 | = | 0.0% |
| Reserves | 13 | €400,232 | €400,232 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €398,372 | €398,372 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,321 | -€107,724 | -€121,045 | |
| Amounts payable | 17/49 | €1,026,212 | €1,251,843 | +€225,631 | +22.0% |
| Amounts payable after more than one year | 17 | €324,437 | €1,024,827 | +€700,390 | +216% |
| Financial debts | 170/4 | €3,310 | €650,000 | +€646,690 | +19,537% |
| Other amounts payable | 178/9 | €321,127 | €374,827 | +€53,700 | +16.7% |
| Amounts payable within one year | 42/48 | €701,775 | €227,016 | -€474,759 | -67.7% |
| Current portion of amounts payable after more than one year | 42 | €8,635 | €3,588 | -€5,047 | -58.4% |
| Trade debts | 44 | €74,135 | €66,679 | -€7,456 | -10.1% |
| Suppliers | 440/4 | €74,135 | €66,679 | -€7,456 | -10.1% |
| Taxes, remuneration and social security | 45 | €38,530 | €6,749 | -€31,781 | -82.5% |
| Taxes | 450/3 | €18,080 | €3,639 | -€14,441 | -79.9% |
| Remuneration and social security | 454/9 | €20,450 | €3,110 | -€17,340 | -84.8% |
| Other amounts payable | 47/48 | €580,475 | €150,000 | -€430,475 | -74.2% |
| Non-recurring operating income | 76A | €11,650 | - | -€11,650 | |
| Remuneration, social security and pensions | 62 | €67,453 | €62,801 | -€4,652 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,277 | €9,277 | = | 0.0% |
| Other operating charges | 640/8 | €6,612 | €5,676 | -€935 | -14.1% |
| Gross operating margin | 9900 | €99,814 | -€38,107 | -€137,921 | |
| Operating profit (loss) | 9901 | €16,473 | -€115,861 | -€132,334 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €2,577 | €3,395 | +€819 | +31.8% |
| Recurring financial charges | 65 | €2,577 | €3,395 | +€819 | +31.8% |
| Profit (loss) for the period before taxes | 9903 | €13,896 | -€119,254 | -€133,151 | |
| Income taxes | 67/77 | €575 | €1,790 | +€1,215 | +211% |
| Profit (loss) for the period | 9904 | €13,321 | -€121,045 | -€134,365 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,321 | -€121,045 | -€134,365 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.