JOVARKO: 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.
What changed
JOVARKO
NACE 01.461, Pig breeding farms
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€86,493
2024 · €147,158-€60,665
Equity
-€475,220
2024 · -€561,713+€86,493
Cash
€10,244
2024 · €3,468+€6,775
Balance sheet total
€1.5m
2024 · €1.5m-€4,364
Largest movements
Assets
- Tangible fixed assets -€103,769
down €103,769 (-26.5%), from €391,935 to €288,166
of which Land and buildings: -€80,380
- Stocks and contracts +€92,407
up €92,407 (+12.9%), from €715,282 to €807,690
Equity and liabilities
- Profit (loss) carried forward +€90,175
up €90,175 (+13.6%), from -€664,470 to -€574,295
- Debts after one year -€89,748
down €89,748 (-24.6%), from €365,037 to €275,289
of which Financial debts: -€64,171
- Trade debts +€64,118
up €64,118 (+4.7%), from €1.4m to €1.4m
- Current portion of long-term debt -€49,984
down €49,984 (-27.9%), from €178,950 to €128,966
Income statement
- Gross operating margin -€37,906
down €37,906 (-9.8%), from €385,186 to €347,280
- Staff costs +€14,874
up €14,874 (+25.2%), from €58,906 to €73,779
- Other operating charges +€5,908
up €5,908 (+49.8%), from €11,855 to €17,762
- Depreciation -€4,491
down €4,491 (-3.9%), from €116,570 to €112,080
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.
Result 2024
€147,158
Gross operating margin
-€37,906
Staff costs
-€14,874
Depreciation
+€4,491
Other operating charges
-€5,908
Financial income
-€1,238
Financial charges
-€1,709
Taxes
-€3,521
Result 2025
€86,493
raises the resultlowers the result
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.
From operations
+€153,658
Investment
-€7,151
Financing
-€139,732
Cash 2024
€3,468
From operations (derived)
+€153,658
Net result for the year
+€86,493
Depreciation
+€112,080
Receivables after one year
-€1,496
Stocks and contracts
-€92,407
Receivables within one year
+€115
Provisions
-€1,227
Trade debts
+€64,118
Tax, wage and social debts
-€980
Accrued charges and deferred income
-€13,036
Investment (derived)
-€7,151
Investment in fixed assets (net)
-€7,151
Financing
-€139,732
Debts after one year
-€89,748
Current portion of long-term debt
-€49,984
Cash 2025
€10,244
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,496,881 | €1,492,517 | -€4,364 | -0.3% |
| Fixed assets | 21/28 | €458,152 | €353,224 | -€104,928 | -22.9% |
| Intangible fixed assets | 21 | €60,518 | €59,358 | -€1,160 | -1.9% |
| Tangible fixed assets | 22/27 | €391,935 | €288,166 | -€103,769 | -26.5% |
| Land and buildings | 22 | €312,443 | €232,064 | -€80,380 | -25.7% |
| Plant, machinery and equipment | 23 | €75,188 | €55,715 | -€19,473 | -25.9% |
| Furniture and vehicles | 24 | €4,303 | €387 | -€3,916 | -91.0% |
| Financial fixed assets | 28 | €5,700 | €5,700 | = | 0.0% |
| Current assets | 29/58 | €1,038,728 | €1,139,293 | +€100,564 | +9.7% |
| Amounts receivable after more than one year | 29 | €133,882 | €135,379 | +€1,496 | +1.1% |
| Other amounts receivable | 291 | €133,882 | €135,379 | +€1,496 | +1.1% |
| Stocks and contracts in progress | 3 | €715,282 | €807,690 | +€92,407 | +12.9% |
| Stocks | 30/36 | €715,282 | €807,690 | +€92,407 | +12.9% |
| Amounts receivable within one year | 40/41 | €186,096 | €185,981 | -€115 | -0.1% |
| Trade receivables | 40 | €186,096 | €99,270 | -€86,826 | -46.7% |
| Other amounts receivable | 41 | - | €86,711 | +€86,711 | |
| Cash at bank and in hand | 54/58 | €3,468 | €10,244 | +€6,775 | +195% |
| Total equity and liabilities | 10/49 | €1,496,881 | €1,492,517 | -€4,364 | -0.3% |
| Equity | 10/15 | -€561,713 | -€475,220 | +€86,493 | +15.4% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Reserves | 13 | €36,757 | €33,075 | -€3,682 | -10.0% |
| Non-distributable reserves | 130/1 | €1,536 | €1,536 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,536 | €1,536 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,045 | €7,363 | -€3,682 | -33.3% |
| Distributable reserves | 133 | €24,176 | €24,176 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€664,470 | -€574,295 | +€90,175 | +13.6% |
| Provisions and deferred taxes | 16 | €3,682 | €2,454 | -€1,227 | -33.3% |
| Deferred taxes | 168 | €3,682 | €2,454 | -€1,227 | -33.3% |
| Amounts payable | 17/49 | €2,054,913 | €1,965,282 | -€89,630 | -4.4% |
| Amounts payable after more than one year | 17 | €365,037 | €275,289 | -€89,748 | -24.6% |
| Financial debts | 170/4 | €339,460 | €275,289 | -€64,171 | -18.9% |
| Trade debts | 175 | €25,577 | - | -€25,577 | |
| Amounts payable within one year | 42/48 | €1,676,839 | €1,689,993 | +€13,154 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €178,950 | €128,966 | -€49,984 | -27.9% |
| Financial debts | 43 | €115,000 | €115,000 | = | 0.0% |
| Credit institutions | 430/8 | €115,000 | €115,000 | = | 0.0% |
| Trade debts | 44 | €1,378,226 | €1,442,344 | +€64,118 | +4.7% |
| Suppliers | 440/4 | €1,378,226 | €1,442,344 | +€64,118 | +4.7% |
| Taxes, remuneration and social security | 45 | €4,663 | €3,683 | -€980 | -21.0% |
| Taxes | 450/3 | €4,663 | €3,683 | -€980 | -21.0% |
| Accrued charges and deferred income | 492/3 | €13,036 | - | -€13,036 | |
| Remuneration, social security and pensions | 62 | €58,906 | €73,779 | +€14,874 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,570 | €112,080 | -€4,491 | -3.9% |
| Other operating charges | 640/8 | €11,855 | €17,762 | +€5,908 | +49.8% |
| Gross operating margin | 9900 | €385,186 | €347,280 | -€37,906 | -9.8% |
| Operating profit (loss) | 9901 | €197,855 | €143,658 | -€54,196 | -27.4% |
| Financial income | 75/76B | €6,278 | €5,040 | -€1,238 | -19.7% |
| Recurring financial income | 75 | €6,278 | €5,040 | -€1,238 | -19.7% |
| Financial charges | 65/66B | €58,040 | €59,749 | +€1,709 | +2.9% |
| Recurring financial charges | 65 | €58,040 | €59,749 | +€1,709 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €146,093 | €88,950 | -€57,144 | -39.1% |
| Transfer from deferred taxes | 780 | €1,227 | €1,227 | = | 0.0% |
| Income taxes | 67/77 | €162 | €3,683 | +€3,521 | +2,170% |
| Profit (loss) for the period | 9904 | €147,158 | €86,493 | -€60,665 | -41.2% |
| Transfer from tax-exempt reserves | 789 | €3,682 | €3,682 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €150,840 | €90,175 | -€60,665 | -40.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.