JOVARO: 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.
JOVARO
Largest movements
- Cash +€36,078
up €36,078 (+24.6%), from €146,863 to €182,941
mainly Other debts (+€124,438) and Net result for the year (+€91,836)
- Tangible fixed assets -€11,611
down €11,611 (-25.7%), from €45,234 to €33,623
- Other debts +€124,438
up €124,438 (+680%), from €18,289 to €142,726
- Reserves -€82,806
down €82,806 (-100%), from €82,806 to €0
- Contributions -€18,600
down €18,600 (-100%), from €18,600 to €0
- Tax, wage and social debts +€10,087
up €10,087 (+27.3%), from €37,007 to €47,094
of which Taxes: +€10,087
- Debts after one year -€8,523
down €8,523 (-32.9%), from €25,908 to €17,385
- Gross operating margin +€13,001
up €13,001 (+10.5%), from €124,158 to €137,159
- Taxes +€2,831
up €2,831 (+9.9%), from €28,638 to €31,469
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 | €192,097 | €216,592 | +€24,495 | +12.8% |
| Fixed assets | 21/28 | €45,234 | €33,623 | -€11,611 | -25.7% |
| Tangible fixed assets | 22/27 | €45,234 | €33,623 | -€11,611 | -25.7% |
| Furniture and vehicles | 24 | €45,234 | €33,623 | -€11,611 | -25.7% |
| Current assets | 29/58 | €146,863 | €182,969 | +€36,105 | +24.6% |
| Amounts receivable within one year | 40/41 | €0 | €27 | +€27 | |
| Trade receivables | 40 | €0 | €27 | +€27 | |
| Cash at bank and in hand | 54/58 | €146,863 | €182,941 | +€36,078 | +24.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €192,097 | €216,592 | +€24,495 | +12.8% |
| Equity | 10/15 | €101,406 | €0 | -€101,406 | -100% |
| Contributions | 10/11 | €18,600 | €0 | -€18,600 | -100% |
| Reserves | 13 | €82,806 | €0 | -€82,806 | -100% |
| Distributable reserves | 133 | €82,806 | €0 | -€82,806 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €90,691 | €216,592 | +€125,901 | +139% |
| Amounts payable after more than one year | 17 | €25,908 | €17,385 | -€8,523 | -32.9% |
| Financial debts | 170/4 | €25,908 | €17,385 | -€8,523 | -32.9% |
| Amounts payable within one year | 42/48 | €64,783 | €199,207 | +€134,424 | +207% |
| Current portion of amounts payable after more than one year | 42 | €8,168 | €8,523 | +€355 | +4.3% |
| Trade debts | 44 | €1,320 | €864 | -€456 | -34.6% |
| Suppliers | 440/4 | €1,320 | €864 | -€456 | -34.6% |
| Taxes, remuneration and social security | 45 | €37,007 | €47,094 | +€10,087 | +27.3% |
| Taxes | 450/3 | €37,007 | €47,094 | +€10,087 | +27.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €18,289 | €142,726 | +€124,438 | +680% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,611 | €11,611 | = | 0.0% |
| Other operating charges | 640/8 | €1,001 | €769 | -€233 | -23.2% |
| Gross operating margin | 9900 | €124,158 | €137,159 | +€13,001 | +10.5% |
| Operating profit (loss) | 9901 | €111,546 | €124,780 | +€13,234 | +11.9% |
| Financial charges | 65/66B | €1,817 | €1,476 | -€341 | -18.8% |
| Recurring financial charges | 65 | €1,817 | €1,476 | -€341 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €109,729 | €123,304 | +€13,575 | +12.4% |
| Income taxes | 67/77 | €28,638 | €31,469 | +€2,831 | +9.9% |
| Profit (loss) for the period | 9904 | €81,092 | €91,836 | +€10,744 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €81,092 | €91,836 | +€10,744 | +13.2% |
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.