JQODE: 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.
JQODE
Largest movements
- Cash +€32,499
up €32,499 (+53.6%), from €60,671 to €93,170
mainly Net result for the year (+€44,099) and Tax, wage and social debts (+€17,388)
- Current investments +€15,000
new in 2025: €15,000
- Receivables within one year +€10,929
up €10,929 (+71.3%), from €15,324 to €26,254
of which Trade receivables: +€11,153
- Tangible fixed assets +€3,836
up €3,836 (+50.5%), from €7,594 to €11,431
of which Plant, machinery and equipment: +€2,264
- Reserves +€44,099
up €44,099 (+121%), from €36,345 to €80,444
- Tax, wage and social debts +€17,388
up €17,388 (+75.6%), from €23,003 to €40,391
of which Taxes: +€19,588
- Gross operating margin +€11,813
up €11,813 (+22.0%), from €53,670 to €65,483
- Taxes +€3,176
up €3,176 (+22.4%), from €14,179 to €17,355
- Depreciation +€813
up €813 (+170%), from €479 to €1,292
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 | €85,791 | €148,409 | +€62,618 | +73.0% |
| Fixed assets | 21/28 | €7,594 | €11,431 | +€3,836 | +50.5% |
| Tangible fixed assets | 22/27 | €7,594 | €11,431 | +€3,836 | +50.5% |
| Plant, machinery and equipment | 23 | €1,257 | €3,521 | +€2,264 | +180% |
| Other tangible fixed assets | 26 | €6,338 | €7,910 | +€1,572 | +24.8% |
| Current assets | 29/58 | €78,197 | €136,978 | +€58,782 | +75.2% |
| Amounts receivable within one year | 40/41 | €15,324 | €26,254 | +€10,929 | +71.3% |
| Trade receivables | 40 | €15,101 | €26,254 | +€11,153 | +73.9% |
| Other amounts receivable | 41 | €224 | €0 | -€224 | -100% |
| Current investments | 50/53 | - | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €60,671 | €93,170 | +€32,499 | +53.6% |
| Deferred charges and accrued income | 490/1 | €2,202 | €2,554 | +€353 | +16.0% |
| Total equity and liabilities | 10/49 | €85,791 | €148,409 | +€62,618 | +73.0% |
| Equity | 10/15 | €41,345 | €85,444 | +€44,099 | +107% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €36,345 | €80,444 | +€44,099 | +121% |
| Distributable reserves | 133 | €36,345 | €80,444 | +€44,099 | +121% |
| Amounts payable | 17/49 | €44,446 | €62,965 | +€18,519 | +41.7% |
| Amounts payable within one year | 42/48 | €44,446 | €62,965 | +€18,519 | +41.7% |
| Trade debts | 44 | €3,966 | €4,231 | +€265 | +6.7% |
| Suppliers | 440/4 | €3,966 | €4,231 | +€265 | +6.7% |
| Taxes, remuneration and social security | 45 | €23,003 | €40,391 | +€17,388 | +75.6% |
| Taxes | 450/3 | €20,803 | €40,391 | +€19,588 | +94.2% |
| Remuneration and social security | 454/9 | €2,200 | €0 | -€2,200 | -100% |
| Other amounts payable | 47/48 | €17,477 | €18,343 | +€866 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €479 | €1,292 | +€813 | +170% |
| Gross operating margin | 9900 | €53,670 | €65,483 | +€11,813 | +22.0% |
| Operating profit (loss) | 9901 | €53,192 | €64,191 | +€10,999 | +20.7% |
| Financial income | 75/76B | - | €207 | +€207 | |
| Recurring financial income | 75 | - | €207 | +€207 | |
| Financial charges | 65/66B | €2,668 | €2,945 | +€277 | +10.4% |
| Recurring financial charges | 65 | €2,668 | €2,945 | +€277 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €50,524 | €61,454 | +€10,930 | +21.6% |
| Income taxes | 67/77 | €14,179 | €17,355 | +€3,176 | +22.4% |
| Profit (loss) for the period | 9904 | €36,345 | €44,099 | +€7,754 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,345 | €44,099 | +€7,754 | +21.3% |
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 18 October 2026 via checked.be.