JOVAK: 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.
JOVAK
Largest movements
- Receivables within one year -€260,167
down €260,167 (-89.4%), from €291,175 to €31,008
of which Other amounts receivable: -€249,258
- Tangible fixed assets -€103,283
down €103,283 (-3.6%), from €2.9m to €2.8m
of which Land and buildings: -€94,426
- Cash +€79,327
up €79,327 (+121%), from €65,358 to €144,685
mainly Receivables within one year (+€260,167) and Net result for the year (+€258,987)
- Reserves +€258,987
up €258,987 (+62.3%), from €415,695 to €674,682
- Debts after one year -€241,033
down €241,033 (-13.8%), from €1.7m to €1.5m
- Investment grants -€135,973
down €135,973 (-30.1%), from €452,452 to €316,479
- Advances received -€75,032
down €75,032 (-82.7%), from €90,704 to €15,672
- Other debts -€53,173
down €53,173 (-75.3%), from €70,613 to €17,440
- Gross operating margin -€92,383
down €92,383 (-16.1%), from €574,730 to €482,347
- Taxes -€18,549
down €18,549 (-17.7%), from €105,013 to €86,464
- Financial income +€14,380
up €14,380 (+1,738%), from €827 to €15,207
- Depreciation -€6,537
down €6,537 (-5.8%), from €112,908 to €106,371
- Financial charges -€6,471
down €6,471 (-14.6%), from €44,386 to €37,915
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 | €3,227,897 | €2,943,775 | -€284,122 | -8.8% |
| Fixed assets | 21/28 | €2,871,365 | €2,768,082 | -€103,283 | -3.6% |
| Tangible fixed assets | 22/27 | €2,871,365 | €2,768,082 | -€103,283 | -3.6% |
| Land and buildings | 22 | €2,832,904 | €2,738,478 | -€94,426 | -3.3% |
| Plant, machinery and equipment | 23 | €34,802 | €27,885 | -€6,918 | -19.9% |
| Furniture and vehicles | 24 | €3,658 | €1,719 | -€1,939 | -53.0% |
| Current assets | 29/58 | €356,533 | €175,693 | -€180,839 | -50.7% |
| Amounts receivable within one year | 40/41 | €291,175 | €31,008 | -€260,167 | -89.4% |
| Trade receivables | 40 | €18,352 | €7,443 | -€10,909 | -59.4% |
| Other amounts receivable | 41 | €272,823 | €23,565 | -€249,258 | -91.4% |
| Cash at bank and in hand | 54/58 | €65,358 | €144,685 | +€79,327 | +121% |
| Total equity and liabilities | 10/49 | €3,227,897 | €2,943,775 | -€284,122 | -8.8% |
| Equity | 10/15 | €1,138,147 | €1,261,161 | +€123,014 | +10.8% |
| Contributions | 10/11 | €270,000 | €270,000 | = | 0.0% |
| Reserves | 13 | €415,695 | €674,682 | +€258,987 | +62.3% |
| Distributable reserves | 133 | €415,695 | €674,682 | +€258,987 | +62.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Investment grants | 15 | €452,452 | €316,479 | -€135,973 | -30.1% |
| Amounts payable | 17/49 | €2,089,750 | €1,682,614 | -€407,136 | -19.5% |
| Amounts payable after more than one year | 17 | €1,745,469 | €1,504,436 | -€241,033 | -13.8% |
| Financial debts | 170/4 | €1,745,469 | €1,504,436 | -€241,033 | -13.8% |
| Amounts payable within one year | 42/48 | €344,282 | €178,179 | -€166,103 | -48.2% |
| Current portion of amounts payable after more than one year | 42 | €122,606 | €126,316 | +€3,710 | +3.0% |
| Trade debts | 44 | €9,781 | €8,230 | -€1,551 | -15.9% |
| Suppliers | 440/4 | €9,781 | €8,230 | -€1,551 | -15.9% |
| Advances received on contracts in progress | 46 | €90,704 | €15,672 | -€75,032 | -82.7% |
| Taxes, remuneration and social security | 45 | €50,578 | €10,521 | -€40,057 | -79.2% |
| Taxes | 450/3 | €50,578 | €10,521 | -€40,057 | -79.2% |
| Other amounts payable | 47/48 | €70,613 | €17,440 | -€53,173 | -75.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,908 | €106,371 | -€6,537 | -5.8% |
| Other operating charges | 640/8 | €10,335 | €7,817 | -€2,518 | -24.4% |
| Gross operating margin | 9900 | €574,730 | €482,347 | -€92,383 | -16.1% |
| Operating profit (loss) | 9901 | €451,487 | €368,158 | -€83,329 | -18.5% |
| Financial income | 75/76B | €827 | €15,207 | +€14,380 | +1,738% |
| Recurring financial income | 75 | €827 | €15,207 | +€14,380 | +1,738% |
| Financial charges | 65/66B | €44,386 | €37,915 | -€6,471 | -14.6% |
| Recurring financial charges | 65 | €44,386 | €37,915 | -€6,471 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €407,928 | €345,451 | -€62,477 | -15.3% |
| Income taxes | 67/77 | €105,013 | €86,464 | -€18,549 | -17.7% |
| Profit (loss) for the period | 9904 | €302,915 | €258,987 | -€43,928 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €302,915 | €258,987 | -€43,928 | -14.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.