JOVEFIN: 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.
JOVEFIN
Largest movements
- Financial fixed assets -€71,375
down €71,375 (-87.6%), from €81,508 to €10,134
- Receivables after one year +€60,000
up €60,000 (+48.0%), from €125,000 to €185,000
- Receivables within one year -€38,509
down €38,509 (-99.2%), from €38,828 to €319
of which Trade receivables: -€36,318
- Cash +€28,346
up €28,346 (+1,962%), from €1,445 to €29,791
mainly Investment in fixed assets (net) (+€70,550) and Receivables within one year (+€38,509)
- Tangible fixed assets -€14,947
down €14,947 (-40.1%), from €37,241 to €22,294
of which Furniture and vehicles: -€14,698
- Profit (loss) carried forward -€25,852
down €25,852 (-9.9%), from €260,694 to €234,842
- Tax, wage and social debts -€7,975
down €7,975 (-69.9%), from €11,415 to €3,439
of which Taxes: -€7,975
- Current portion of long-term debt -€5,705
no longer reported in 2025 (was €5,705)
- Financial charges +€86,091
up €86,091 (+527%), from €16,340 to €102,432
of which Financial charges: +€74,517
- Taxes -€7,870
down €7,870 (-53.6%), from €14,670 to €6,800
- Gross operating margin -€6,953
down €6,953 (-6.1%), from €114,608 to €107,655
- Staff costs +€4,325
up €4,325 (+61.7%), from €7,005 to €11,331
- Financial income +€1,355
up €1,355 (+42.1%), from €3,219 to €4,574
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 | €288,528 | €249,058 | -€39,470 | -13.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €118,749 | €32,427 | -€86,322 | -72.7% |
| Tangible fixed assets | 22/27 | €37,241 | €22,294 | -€14,947 | -40.1% |
| Plant, machinery and equipment | 23 | €498 | €249 | -€249 | -50.0% |
| Furniture and vehicles | 24 | €36,743 | €22,045 | -€14,698 | -40.0% |
| Financial fixed assets | 28 | €81,508 | €10,134 | -€71,375 | -87.6% |
| Current assets | 29/58 | €169,778 | €216,630 | +€46,852 | +27.6% |
| Amounts receivable after more than one year | 29 | €125,000 | €185,000 | +€60,000 | +48.0% |
| Other amounts receivable | 291 | €125,000 | €185,000 | +€60,000 | +48.0% |
| Amounts receivable within one year | 40/41 | €38,828 | €319 | -€38,509 | -99.2% |
| Trade receivables | 40 | €36,318 | €0 | -€36,318 | -100% |
| Other amounts receivable | 41 | €2,510 | €319 | -€2,190 | -87.3% |
| Cash at bank and in hand | 54/58 | €1,445 | €29,791 | +€28,346 | +1,962% |
| Deferred charges and accrued income | 490/1 | €4,506 | €1,520 | -€2,986 | -66.3% |
| Total equity and liabilities | 10/49 | €288,528 | €249,058 | -€39,470 | -13.7% |
| Equity | 10/15 | €270,694 | €244,842 | -€25,852 | -9.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €260,694 | €234,842 | -€25,852 | -9.9% |
| Amounts payable | 17/49 | €17,833 | €4,216 | -€13,618 | -76.4% |
| Amounts payable within one year | 42/48 | €17,833 | €4,216 | -€13,618 | -76.4% |
| Current portion of amounts payable after more than one year | 42 | €5,705 | - | -€5,705 | |
| Trade debts | 44 | €714 | €776 | +€63 | +8.8% |
| Suppliers | 440/4 | €714 | €776 | +€63 | +8.8% |
| Taxes, remuneration and social security | 45 | €11,415 | €3,439 | -€7,975 | -69.9% |
| Taxes | 450/3 | €11,415 | €3,439 | -€7,975 | -69.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €7,005 | €11,331 | +€4,325 | +61.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,676 | €15,772 | +€96 | +0.6% |
| Other operating charges | 640/8 | €1,542 | €1,747 | +€205 | +13.3% |
| Gross operating margin | 9900 | €114,608 | €107,655 | -€6,953 | -6.1% |
| Operating profit (loss) | 9901 | €90,385 | €78,806 | -€11,579 | -12.8% |
| Financial income | 75/76B | €3,219 | €4,574 | +€1,355 | +42.1% |
| Recurring financial income | 75 | €3,219 | €4,574 | +€1,355 | +42.1% |
| Financial charges | 65/66B | €16,340 | €102,432 | +€86,091 | +527% |
| Recurring financial charges | 65 | €16,340 | €90,858 | +€74,517 | +456% |
| Non-recurring financial charges | 66B | - | €11,574 | +€11,574 | |
| Profit (loss) for the period before taxes | 9903 | €77,263 | -€19,053 | -€96,316 | |
| Income taxes | 67/77 | €14,670 | €6,800 | -€7,870 | -53.6% |
| Profit (loss) for the period | 9904 | €62,593 | -€25,852 | -€88,445 | |
| Profit (loss) for the period to be appropriated | 9905 | €62,593 | -€25,852 | -€88,445 |
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 20 October 2026 via checked.be.