JOVAM: 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.
JOVAM
Largest movements
- Tangible fixed assets -€50,503
down €50,503 (-26.7%), from €189,428 to €138,926
of which Land and buildings: -€41,526
- Stocks and contracts +€36,847
up €36,847 (+25.9%), from €142,447 to €179,294
- Receivables within one year -€7,472
down €7,472 (-11.8%), from €63,197 to €55,725
of which Trade receivables: -€13,601
- Profit (loss) carried forward +€62,407
up €62,407 (+12.4%), from -€503,149 to -€440,742
- Trade debts -€29,229
down €29,229 (-88.3%), from €33,093 to €3,864
- Debts after one year -€25,000
down €25,000 (-14.3%), from €175,000 to €150,000
- Short-term financial debts -€24,944
no longer reported in 2025 (was €24,944)
- Tax, wage and social debts -€20,372
down €20,372 (-79.0%), from €25,784 to €5,412
of which Remuneration and social security: -€20,372
- Gross operating margin +€31,564
up €31,564 (+14.8%), from €212,997 to €244,561
- Depreciation -€18,657
down €18,657 (-23.6%), from €78,955 to €60,298
- Financial charges -€4,071
down €4,071 (-29.7%), from €13,693 to €9,621
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 | €407,408 | €386,292 | -€21,116 | -5.2% |
| Fixed assets | 21/28 | €201,764 | €151,261 | -€50,503 | -25.0% |
| Tangible fixed assets | 22/27 | €189,428 | €138,926 | -€50,503 | -26.7% |
| Land and buildings | 22 | €139,027 | €97,501 | -€41,526 | -29.9% |
| Plant, machinery and equipment | 23 | €22,584 | €22,474 | -€110 | -0.5% |
| Furniture and vehicles | 24 | €3,793 | €682 | -€3,112 | -82.0% |
| Other tangible fixed assets | 26 | €24,024 | €18,268 | -€5,755 | -24.0% |
| Financial fixed assets | 28 | €12,335 | €12,335 | = | 0.0% |
| Current assets | 29/58 | €205,644 | €235,031 | +€29,387 | +14.3% |
| Stocks and contracts in progress | 3 | €142,447 | €179,294 | +€36,847 | +25.9% |
| Stocks | 30/36 | €142,447 | €179,294 | +€36,847 | +25.9% |
| Amounts receivable within one year | 40/41 | €63,197 | €55,725 | -€7,472 | -11.8% |
| Trade receivables | 40 | €60,286 | €46,684 | -€13,601 | -22.6% |
| Other amounts receivable | 41 | €2,911 | €9,040 | +€6,129 | +211% |
| Cash at bank and in hand | 54/58 | - | €12 | +€12 | |
| Total equity and liabilities | 10/49 | €407,408 | €386,292 | -€21,116 | -5.2% |
| Equity | 10/15 | -€284,557 | -€222,150 | +€62,407 | +21.9% |
| Contributions | 10/11 | €218,592 | €218,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€503,149 | -€440,742 | +€62,407 | +12.4% |
| Amounts payable | 17/49 | €691,965 | €608,442 | -€83,523 | -12.1% |
| Amounts payable after more than one year | 17 | €175,000 | €150,000 | -€25,000 | -14.3% |
| Financial debts | 170/4 | €175,000 | €150,000 | -€25,000 | -14.3% |
| Amounts payable within one year | 42/48 | €516,965 | €458,442 | -€58,523 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €29,403 | €29,403 | = | 0.0% |
| Financial debts | 43 | €24,944 | - | -€24,944 | |
| Credit institutions | 430/8 | €24,944 | - | -€24,944 | |
| Trade debts | 44 | €33,093 | €3,864 | -€29,229 | -88.3% |
| Suppliers | 440/4 | €33,093 | €3,864 | -€29,229 | -88.3% |
| Taxes, remuneration and social security | 45 | €25,784 | €5,412 | -€20,372 | -79.0% |
| Taxes | 450/3 | €228 | €228 | = | 0.0% |
| Remuneration and social security | 454/9 | €25,556 | €5,184 | -€20,372 | -79.7% |
| Other amounts payable | 47/48 | €403,742 | €419,763 | +€16,022 | +4.0% |
| Remuneration, social security and pensions | 62 | €109,233 | €108,304 | -€930 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,955 | €60,298 | -€18,657 | -23.6% |
| Other operating charges | 640/8 | €3,886 | €3,931 | +€45 | +1.2% |
| Gross operating margin | 9900 | €212,997 | €244,561 | +€31,564 | +14.8% |
| Operating profit (loss) | 9901 | €20,923 | €72,028 | +€51,105 | +244% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €13,693 | €9,621 | -€4,071 | -29.7% |
| Recurring financial charges | 65 | €13,693 | €9,621 | -€4,071 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €7,230 | €62,407 | +€55,176 | +763% |
| Profit (loss) for the period | 9904 | €7,230 | €62,407 | +€55,176 | +763% |
| Profit (loss) for the period to be appropriated | 9905 | €7,230 | €62,407 | +€55,176 | +763% |
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 13 October 2026 via checked.be.