NV JOALFRA: 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.
NV JOALFRA
Largest movements
- Receivables within one year +€202,173
up €202,173 (+2,509%), from €8,059 to €210,233
of which Other amounts receivable: +€200,173
- Current investments +€183,704
up €183,704 (+8.4%), from €2.2m to €2.4m
- Tangible fixed assets -€91,281
down €91,281 (-9.0%), from €1.0m to €923,644
of which Land and buildings: -€90,940
- Reserves +€392,731
up €392,731 (+13.0%), from €3.0m to €3.4m
of which Distributable reserves: +€392,731
- Gross operating margin +€32,701
up €32,701 (+4.9%), from €671,000 to €703,701
- Financial income -€17,852
down €17,852 (-26.1%), from €68,465 to €50,613
- Taxes +€7,343
up €7,343 (+4.2%), from €176,298 to €183,641
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 | €5,098,313 | €5,443,619 | +€345,306 | +6.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,014,925 | €923,644 | -€91,281 | -9.0% |
| Tangible fixed assets | 22/27 | €1,014,925 | €923,644 | -€91,281 | -9.0% |
| Land and buildings | 22 | €1,013,619 | €922,678 | -€90,940 | -9.0% |
| Plant, machinery and equipment | 23 | €1,306 | €965 | -€341 | -26.1% |
| Current assets | 29/58 | €4,083,388 | €4,519,975 | +€436,587 | +10.7% |
| Amounts receivable after more than one year | 29 | €97,531 | €89,299 | -€8,233 | -8.4% |
| Other amounts receivable | 291 | €97,531 | €89,299 | -€8,233 | -8.4% |
| Amounts receivable within one year | 40/41 | €8,059 | €210,233 | +€202,173 | +2,509% |
| Trade receivables | 40 | - | €2,000 | +€2,000 | |
| Other amounts receivable | 41 | €8,059 | €208,233 | +€200,173 | +2,484% |
| Current investments | 50/53 | €2,192,500 | €2,376,204 | +€183,704 | +8.4% |
| Cash at bank and in hand | 54/58 | €1,759,865 | €1,813,697 | +€53,833 | +3.1% |
| Deferred charges and accrued income | 490/1 | €25,433 | €30,543 | +€5,110 | +20.1% |
| Total equity and liabilities | 10/49 | €5,098,313 | €5,443,619 | +€345,306 | +6.8% |
| Equity | 10/15 | €4,851,996 | €5,244,727 | +€392,731 | +8.1% |
| Contributions | 10/11 | €1,809,623 | €1,809,623 | = | 0.0% |
| Capital | 10 | €1,809,623 | €1,809,623 | = | 0.0% |
| Issued capital | 100 | €1,809,623 | €1,809,623 | = | 0.0% |
| Reserves | 13 | €3,013,635 | €3,406,366 | +€392,731 | +13.0% |
| Non-distributable reserves | 130/1 | €180,962 | €180,962 | = | 0.0% |
| Legal reserve | 130 | €180,962 | €180,962 | = | 0.0% |
| Distributable reserves | 133 | €2,832,673 | €3,225,404 | +€392,731 | +13.9% |
| Profit (loss) carried forward | 14 | €28,738 | €28,738 | = | 0.0% |
| Amounts payable | 17/49 | €246,317 | €198,893 | -€47,425 | -19.3% |
| Amounts payable within one year | 42/48 | €212,214 | €176,433 | -€35,781 | -16.9% |
| Trade debts | 44 | €2,772 | €1,947 | -€825 | -29.8% |
| Suppliers | 440/4 | €2,772 | €1,947 | -€825 | -29.8% |
| Taxes, remuneration and social security | 45 | €52,715 | €52,644 | -€71 | -0.1% |
| Taxes | 450/3 | €47,983 | €49,121 | +€1,137 | +2.4% |
| Remuneration and social security | 454/9 | €4,732 | €3,523 | -€1,209 | -25.5% |
| Other amounts payable | 47/48 | €156,727 | €121,842 | -€34,885 | -22.3% |
| Accrued charges and deferred income | 492/3 | €34,103 | €22,460 | -€11,643 | -34.1% |
| Remuneration, social security and pensions | 62 | €10,927 | €10,978 | +€51 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,890 | €91,281 | -€2,609 | -2.8% |
| Other operating charges | 640/8 | €64,279 | €66,015 | +€1,736 | +2.7% |
| Gross operating margin | 9900 | €671,000 | €703,701 | +€32,701 | +4.9% |
| Operating profit (loss) | 9901 | €501,903 | €535,427 | +€33,524 | +6.7% |
| Financial income | 75/76B | €68,465 | €50,613 | -€17,852 | -26.1% |
| Recurring financial income | 75 | €68,465 | €50,613 | -€17,852 | -26.1% |
| Financial charges | 65/66B | €13,723 | €9,668 | -€4,055 | -29.5% |
| Recurring financial charges | 65 | €13,723 | €9,668 | -€4,055 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €556,645 | €576,371 | +€19,726 | +3.5% |
| Income taxes | 67/77 | €176,298 | €183,641 | +€7,343 | +4.2% |
| Profit (loss) for the period | 9904 | €380,348 | €392,731 | +€12,383 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €380,348 | €392,731 | +€12,383 | +3.3% |
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 28 October 2026 via checked.be.