Jowan: what changed
Two fiscal 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.
Jowan
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+33102.2%), from €4,006 to €1.3m
of which Land and buildings: +€1.3m
- Cash -€68,784
down €68,784 (-41.6%), from €165,398 to €96,614
mainly Investment in fixed assets (net) (-€1.4m) and Receivables within one year (-€10,688)
- Debts after one year +€914,703
new in 2025: €914,703
- Other debts +€255,384
up €255,384 (+1996.5%), from €12,792 to €268,176
- Current portion of long-term debt +€54,406
new in 2025: €54,406
- Reserves +€34,690
up €34,690 (+8.4%), from €410,946 to €445,637
- Gross operating margin +€76,206
up €76,206 (+130.3%), from €58,507 to €134,714
- Depreciation +€63,019
up €63,019 (+1619.4%), from €3,892 to €66,910
- Financial charges +€29,731
up €29,731 (+20698.6%), from €144 to €29,875
- Taxes -€7,819
down €7,819 (-32.9%), from €23,772 to €15,953
- Other operating charges +€1,839
up €1,839 (+409.2%), from €449 to €2,288
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.
Cash bridge derived
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 | €450,132 | €1,719,304 | +€1.3m | +282.0% |
| Fixed assets | 21/28 | €4,006 | €1,330,112 | +€1.3m | +33102.2% |
| Tangible fixed assets | 22/27 | €4,006 | €1,330,112 | +€1.3m | +33102.2% |
| Land and buildings | 22 | - | €1,329,177 | +€1.3m | |
| Furniture and vehicles | 24 | €1,897 | €169 | -€1,727 | -91.1% |
| Other tangible fixed assets | 26 | €2,109 | €765 | -€1,344 | -63.7% |
| Current assets | 29/58 | €446,126 | €389,192 | -€56,934 | -12.8% |
| Amounts receivable after more than one year | 29 | €250,000 | €250,000 | = | 0.0% |
| Other amounts receivable | 291 | €250,000 | €250,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,940 | €27,628 | +€10,688 | +63.1% |
| Trade receivables | 40 | €16,940 | €15,730 | -€1,210 | -7.1% |
| Other amounts receivable | 41 | - | €11,898 | +€11,898 | |
| Cash at bank and in hand | 54/58 | €165,398 | €96,614 | -€68,784 | -41.6% |
| Deferred charges and accrued income | 490/1 | €13,788 | €14,951 | +€1,163 | +8.4% |
| Total equity and liabilities | 10/49 | €450,132 | €1,719,304 | +€1.3m | +282.0% |
| Equity | 10/15 | €429,546 | €464,237 | +€34,690 | +8.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €410,946 | €445,637 | +€34,690 | +8.4% |
| Distributable reserves | 133 | €410,946 | €445,637 | +€34,690 | +8.4% |
| Amounts payable | 17/49 | €20,585 | €1,255,067 | +€1.2m | +5996.9% |
| Amounts payable after more than one year | 17 | - | €914,703 | +€914,703 | |
| Financial debts | 170/4 | - | €914,703 | +€914,703 | |
| Amounts payable within one year | 42/48 | €20,585 | €328,454 | +€307,869 | +1495.6% |
| Current portion of amounts payable after more than one year | 42 | - | €54,406 | +€54,406 | |
| Trade debts | 44 | €475 | €377 | -€98 | -20.7% |
| Suppliers | 440/4 | €475 | €377 | -€98 | -20.7% |
| Taxes, remuneration and social security | 45 | €7,319 | €5,496 | -€1,822 | -24.9% |
| Taxes | 450/3 | €7,319 | €5,496 | -€1,822 | -24.9% |
| Other amounts payable | 47/48 | €12,792 | €268,176 | +€255,384 | +1996.5% |
| Accrued charges and deferred income | 492/3 | - | €11,910 | +€11,910 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,892 | €66,910 | +€63,019 | +1619.4% |
| Other operating charges | 640/8 | €449 | €2,288 | +€1,839 | +409.2% |
| Gross operating margin | 9900 | €58,507 | €134,714 | +€76,206 | +130.3% |
| Operating profit (loss) | 9901 | €54,166 | €65,515 | +€11,349 | +21.0% |
| Financial income | 75/76B | €15,594 | €15,003 | -€591 | -3.8% |
| Recurring financial income | 75 | €15,594 | €15,003 | -€591 | -3.8% |
| Financial charges | 65/66B | €144 | €29,875 | +€29,731 | +20698.6% |
| Recurring financial charges | 65 | €144 | €29,875 | +€29,731 | +20698.6% |
| Profit (loss) for the period before taxes | 9903 | €69,617 | €50,644 | -€18,973 | -27.3% |
| Income taxes | 67/77 | €23,772 | €15,953 | -€7,819 | -32.9% |
| Profit (loss) for the period | 9904 | €45,845 | €34,690 | -€11,154 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €45,845 | €34,690 | -€11,154 | -24.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.