N-JOY: 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.
N-JOY
Largest movements
- Cash +€18,988
up €18,988 (+54.3%), from €34,994 to €53,982
mainly Short-term financial debts (+€13,574) and Depreciation (+€10,780)
- Tangible fixed assets +€14,975
up €14,975 (+12.3%), from €121,365 to €136,340
of which Plant, machinery and equipment: +€23,752
- Receivables within one year +€9,736
up €9,736 (+94.6%), from €10,295 to €20,031
of which Other amounts receivable: +€13,773
- Stocks and contracts -€4,287
down €4,287 (-20.8%), from €20,616 to €16,329
- Short-term financial debts +€13,574
new in 2025: €13,574
- Reserves +€11,000
up €11,000 (+68.8%), from €16,000 to €27,000
- Debts after one year +€9,513
up €9,513 (+10.9%), from €87,287 to €96,800
- Tax, wage and social debts +€5,621
up €5,621 (+16.1%), from €35,004 to €40,626
of which Remuneration and social security: +€5,964
- Gross operating margin -€20,259
down €20,259 (-8.6%), from €236,050 to €215,791
- Staff costs +€13,341
up €13,341 (+8.0%), from €167,214 to €180,555
- Taxes +€4,148
up €4,148 (+2106.1%), from €197 to €4,345
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 | €187,270 | €226,682 | +€39,412 | +21.0% |
| Fixed assets | 21/28 | €121,365 | €136,340 | +€14,975 | +12.3% |
| Tangible fixed assets | 22/27 | €121,365 | €136,340 | +€14,975 | +12.3% |
| Land and buildings | 22 | €120,561 | €111,784 | -€8,777 | -7.3% |
| Plant, machinery and equipment | 23 | €804 | €24,556 | +€23,752 | +2954.0% |
| Current assets | 29/58 | €65,904 | €90,342 | +€24,437 | +37.1% |
| Stocks and contracts in progress | 3 | €20,616 | €16,329 | -€4,287 | -20.8% |
| Stocks | 30/36 | €20,616 | €16,329 | -€4,287 | -20.8% |
| Amounts receivable within one year | 40/41 | €10,295 | €20,031 | +€9,736 | +94.6% |
| Trade receivables | 40 | €4,036 | - | -€4,036 | |
| Other amounts receivable | 41 | €6,258 | €20,031 | +€13,773 | +220.1% |
| Cash at bank and in hand | 54/58 | €34,994 | €53,982 | +€18,988 | +54.3% |
| Total equity and liabilities | 10/49 | €187,270 | €226,682 | +€39,412 | +21.0% |
| Equity | 10/15 | €35,375 | €46,020 | +€10,646 | +30.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,000 | €27,000 | +€11,000 | +68.8% |
| Distributable reserves | 133 | €16,000 | €27,000 | +€11,000 | +68.8% |
| Profit (loss) carried forward | 14 | €775 | €420 | -€354 | -45.7% |
| Amounts payable | 17/49 | €151,895 | €180,662 | +€28,767 | +18.9% |
| Amounts payable after more than one year | 17 | €87,287 | €96,800 | +€9,513 | +10.9% |
| Financial debts | 170/4 | €87,287 | €96,800 | +€9,513 | +10.9% |
| Amounts payable within one year | 42/48 | €64,608 | €83,862 | +€19,254 | +29.8% |
| Current portion of amounts payable after more than one year | 42 | €14,813 | €13,253 | -€1,560 | -10.5% |
| Financial debts | 43 | - | €13,574 | +€13,574 | |
| Credit institutions | 430/8 | - | €13,574 | +€13,574 | |
| Trade debts | 44 | €14,539 | €16,184 | +€1,645 | +11.3% |
| Suppliers | 440/4 | €14,539 | €16,184 | +€1,645 | +11.3% |
| Taxes, remuneration and social security | 45 | €35,004 | €40,626 | +€5,621 | +16.1% |
| Taxes | 450/3 | €19,321 | €18,978 | -€343 | -1.8% |
| Remuneration and social security | 454/9 | €15,683 | €21,648 | +€5,964 | +38.0% |
| Other amounts payable | 47/48 | €252 | €226 | -€26 | -10.3% |
| Remuneration, social security and pensions | 62 | €167,214 | €180,555 | +€13,341 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,614 | €10,780 | +€1,166 | +12.1% |
| Other operating charges | 640/8 | €1,481 | €1,647 | +€166 | +11.2% |
| Gross operating margin | 9900 | €236,050 | €215,791 | -€20,259 | -8.6% |
| Operating profit (loss) | 9901 | €57,741 | €22,809 | -€34,931 | -60.5% |
| Financial income | 75/76B | €3 | €176 | +€173 | +5922.9% |
| Recurring financial income | 75 | €3 | €176 | +€173 | +5922.9% |
| Financial charges | 65/66B | €10,270 | €7,995 | -€2,275 | -22.1% |
| Recurring financial charges | 65 | €10,270 | €7,995 | -€2,275 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €47,474 | €14,990 | -€32,484 | -68.4% |
| Income taxes | 67/77 | €197 | €4,345 | +€4,148 | +2106.1% |
| Profit (loss) for the period | 9904 | €47,277 | €10,646 | -€36,632 | -77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,277 | €10,646 | -€36,632 | -77.5% |
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 9 October 2026 via checked.be.