JOVAND: 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.
JOVAND
Largest movements
- Current investments +€750,000
up €750,000 (+1,500%), from €50,000 to €800,000
- Financial fixed assets -€623,675
down €623,675 (-100%), from €623,675 to €0
- Receivables after one year +€120,000
new in 2025: €120,000
- Cash +€38,709
up €38,709 (+106%), from €36,473 to €75,182
mainly Investment in fixed assets (net) (+€623,675) and Net result for the year (+€388,861)
- Other debts +€187,842
up €187,842 (+167%), from €112,320 to €300,162
- Reserves +€93,341
up €93,341 (+16.5%), from €565,441 to €658,782
- Trade debts -€10,248
down €10,248 (-96.2%), from €10,655 to €408
- Financial income +€292,606
up €292,606 (+206%), from €142,165 to €434,771
- Gross operating margin -€50,732
down €50,732 (-87.0%), from €58,289 to €7,557
- Taxes +€15,871
up €15,871 (+60.3%), from €26,340 to €42,211
- Financial charges -€7,000
down €7,000 (-74.2%), from €9,440 to €2,440
- Depreciation -€3,816
down €3,816 (-34.7%), from €10,994 to €7,179
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 | €740,112 | €1,019,093 | +€278,982 | +37.7% |
| Fixed assets | 21/28 | €641,444 | €10,590 | -€630,854 | -98.3% |
| Tangible fixed assets | 22/27 | €17,769 | €10,590 | -€7,179 | -40.4% |
| Plant, machinery and equipment | 23 | €12,492 | €10,590 | -€1,902 | -15.2% |
| Furniture and vehicles | 24 | €5,277 | €0 | -€5,277 | -100% |
| Financial fixed assets | 28 | €623,675 | €0 | -€623,675 | -100% |
| Current assets | 29/58 | €98,668 | €1,008,503 | +€909,835 | +922% |
| Amounts receivable after more than one year | 29 | - | €120,000 | +€120,000 | |
| Other amounts receivable | 291 | - | €120,000 | +€120,000 | |
| Amounts receivable within one year | 40/41 | €12,195 | €11,521 | -€674 | -5.5% |
| Trade receivables | 40 | €12,100 | €6,892 | -€5,208 | -43.0% |
| Other amounts receivable | 41 | €95 | €4,629 | +€4,534 | +4,779% |
| Current investments | 50/53 | €50,000 | €800,000 | +€750,000 | +1,500% |
| Cash at bank and in hand | 54/58 | €36,473 | €75,182 | +€38,709 | +106% |
| Deferred charges and accrued income | 490/1 | - | €1,800 | +€1,800 | |
| Total equity and liabilities | 10/49 | €740,112 | €1,019,093 | +€278,982 | +37.7% |
| Equity | 10/15 | €584,041 | €677,382 | +€93,341 | +16.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €565,441 | €658,782 | +€93,341 | +16.5% |
| Distributable reserves | 133 | €565,441 | €658,782 | +€93,341 | +16.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €156,071 | €341,711 | +€185,640 | +119% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €156,071 | €339,711 | +€183,640 | +118% |
| Current portion of amounts payable after more than one year | 42 | €3,043 | €0 | -€3,043 | -100% |
| Trade debts | 44 | €10,655 | €408 | -€10,248 | -96.2% |
| Suppliers | 440/4 | €10,655 | €408 | -€10,248 | -96.2% |
| Taxes, remuneration and social security | 45 | €30,052 | €39,141 | +€9,089 | +30.2% |
| Taxes | 450/3 | €27,802 | €39,141 | +€11,339 | +40.8% |
| Remuneration and social security | 454/9 | €2,250 | €0 | -€2,250 | -100% |
| Other amounts payable | 47/48 | €112,320 | €300,162 | +€187,842 | +167% |
| Accrued charges and deferred income | 492/3 | €0 | €2,000 | +€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,994 | €7,179 | -€3,816 | -34.7% |
| Other operating charges | 640/8 | €1,289 | €1,637 | +€348 | +27.0% |
| Gross operating margin | 9900 | €58,289 | €7,557 | -€50,732 | -87.0% |
| Operating profit (loss) | 9901 | €46,006 | -€1,258 | -€47,264 | |
| Financial income | 75/76B | €142,165 | €434,771 | +€292,606 | +206% |
| Recurring financial income | 75 | €142,165 | €434,771 | +€292,606 | +206% |
| Financial charges | 65/66B | €9,440 | €2,440 | -€7,000 | -74.2% |
| Recurring financial charges | 65 | €9,440 | €2,440 | -€7,000 | -74.2% |
| Profit (loss) for the period before taxes | 9903 | €178,731 | €431,072 | +€252,342 | +141% |
| Income taxes | 67/77 | €26,340 | €42,211 | +€15,871 | +60.3% |
| Profit (loss) for the period | 9904 | €152,391 | €388,861 | +€236,471 | +155% |
| Profit (loss) for the period to be appropriated | 9905 | €152,391 | €388,861 | +€236,471 | +155% |
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 19 October 2026 via checked.be.