JOCO: 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.
JOCO
Largest movements
- Cash +€11,589
up €11,589 (+54.5%), from €21,252 to €32,841
mainly Net result for the year (+€23,210) and Tax, wage and social debts (+€15,557)
- Stocks and contracts +€6,464
up €6,464 (+13.1%), from €49,166 to €55,630
- Tangible fixed assets -€6,158
down €6,158 (-33.4%), from €18,458 to €12,299
of which Plant, machinery and equipment: -€5,024
- Intangible fixed assets -€5,000
down €5,000 (-7.0%), from €71,250 to €66,250
- Receivables within one year -€4,064
down €4,064 (-5.7%), from €71,209 to €67,144
of which Trade receivables: -€8,087
- Reserves +€23,210
up €23,210 (+115%), from €20,250 to €43,460
- Short-term financial debts -€20,000
no longer reported in 2025 (was €20,000)
- Tax, wage and social debts +€15,557
up €15,557 (+17.3%), from €89,969 to €105,526
of which Remuneration and social security: +€14,583
- Current portion of long-term debt -€8,846
down €8,846 (-94.0%), from €9,412 to €566
- Trade debts -€5,608
down €5,608 (-20.5%), from €27,296 to €21,687
- Staff costs +€26,561
up €26,561 (+7.2%), from €368,466 to €395,027
- Gross operating margin +€10,988
up €10,988 (+2.5%), from €437,483 to €448,471
- Financial charges -€7,169
down €7,169 (-49.8%), from €14,405 to €7,236
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 | €262,751 | €266,498 | +€3,747 | +1.4% |
| Fixed assets | 21/28 | €90,458 | €79,299 | -€11,158 | -12.3% |
| Intangible fixed assets | 21 | €71,250 | €66,250 | -€5,000 | -7.0% |
| Tangible fixed assets | 22/27 | €18,458 | €12,299 | -€6,158 | -33.4% |
| Land and buildings | 22 | €2,606 | €1,656 | -€950 | -36.5% |
| Plant, machinery and equipment | 23 | €14,916 | €9,892 | -€5,024 | -33.7% |
| Furniture and vehicles | 24 | €936 | €752 | -€184 | -19.7% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €172,293 | €187,199 | +€14,905 | +8.7% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €49,166 | €55,630 | +€6,464 | +13.1% |
| Stocks | 30/36 | €49,166 | €55,630 | +€6,464 | +13.1% |
| Amounts receivable within one year | 40/41 | €71,209 | €67,144 | -€4,064 | -5.7% |
| Trade receivables | 40 | €36,751 | €28,664 | -€8,087 | -22.0% |
| Other amounts receivable | 41 | €34,458 | €38,480 | +€4,023 | +11.7% |
| Cash at bank and in hand | 54/58 | €21,252 | €32,841 | +€11,589 | +54.5% |
| Deferred charges and accrued income | 490/1 | €667 | €1,583 | +€917 | +138% |
| Total equity and liabilities | 10/49 | €262,751 | €266,498 | +€3,747 | +1.4% |
| Equity | 10/15 | €115,508 | €138,719 | +€23,210 | +20.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €20,250 | €43,460 | +€23,210 | +115% |
| Distributable reserves | 133 | €20,250 | €43,460 | +€23,210 | +115% |
| Profit (loss) carried forward | 14 | €89,058 | €89,058 | = | 0.0% |
| Amounts payable | 17/49 | €147,243 | €127,779 | -€19,464 | -13.2% |
| Amounts payable after more than one year | 17 | €566 | - | -€566 | |
| Financial debts | 170/4 | €566 | - | -€566 | |
| Amounts payable within one year | 42/48 | €146,677 | €127,779 | -€18,898 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €9,412 | €566 | -€8,846 | -94.0% |
| Financial debts | 43 | €20,000 | - | -€20,000 | |
| Credit institutions | 430/8 | €20,000 | - | -€20,000 | |
| Trade debts | 44 | €27,296 | €21,687 | -€5,608 | -20.5% |
| Suppliers | 440/4 | €27,296 | €21,687 | -€5,608 | -20.5% |
| Taxes, remuneration and social security | 45 | €89,969 | €105,526 | +€15,557 | +17.3% |
| Taxes | 450/3 | €44,049 | €45,023 | +€973 | +2.2% |
| Remuneration and social security | 454/9 | €45,919 | €60,503 | +€14,583 | +31.8% |
| Remuneration, social security and pensions | 62 | €368,466 | €395,027 | +€26,561 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,165 | €11,158 | -€4,007 | -26.4% |
| Other operating charges | 640/8 | €1,847 | €2,345 | +€498 | +26.9% |
| Non-recurring operating charges | 66A | €6,000 | - | -€6,000 | |
| Gross operating margin | 9900 | €437,483 | €448,471 | +€10,988 | +2.5% |
| Operating profit (loss) | 9901 | €46,005 | €39,941 | -€6,064 | -13.2% |
| Financial income | 75/76B | €1,228 | €1,222 | -€6 | -0.5% |
| Recurring financial income | 75 | €1,228 | €1,222 | -€6 | -0.5% |
| Financial charges | 65/66B | €14,405 | €7,236 | -€7,169 | -49.8% |
| Recurring financial charges | 65 | €14,405 | €7,236 | -€7,169 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €32,828 | €33,927 | +€1,099 | +3.3% |
| Income taxes | 67/77 | €12,578 | €10,717 | -€1,862 | -14.8% |
| Profit (loss) for the period | 9904 | €20,250 | €23,210 | +€2,960 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,250 | €23,210 | +€2,960 | +14.6% |
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 27 October 2026 via checked.be.