BLACKSMITH JVS BVBA: 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.
BLACKSMITH JVS BVBA
Largest movements
- Cash +€135,886
up €135,886 (+29.1%), from €466,413 to €602,299
mainly Net result for the year (+€156,447) and Receivables within one year (+€52,355)
- Tangible fixed assets +€62,161
up €62,161 (+112%), from €55,748 to €117,909
of which Furniture and vehicles: +€69,644
- Receivables within one year -€52,355
down €52,355 (-47.6%), from €109,997 to €57,642
- Reserves +€154,781
up €154,781 (+31.8%), from €486,983 to €641,764
- Other debts -€24,773
down €24,773 (-51.1%), from €48,494 to €23,721
- Tax, wage and social debts +€20,976
up €20,976 (+41.6%), from €50,408 to €71,384
of which Taxes: +€31,174
- Gross operating margin +€74,402
up €74,402 (+15.5%), from €480,183 to €554,586
- Staff costs +€18,673
up €18,673 (+6.7%), from €279,224 to €297,898
- Taxes +€15,132
up €15,132 (+28.0%), from €54,122 to €69,254
- Depreciation +€13,215
up €13,215 (+73.4%), from €18,002 to €31,217
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 | €632,158 | €777,850 | +€145,692 | +23.0% |
| Fixed assets | 21/28 | €55,748 | €117,909 | +€62,161 | +112% |
| Tangible fixed assets | 22/27 | €55,748 | €117,909 | +€62,161 | +112% |
| Plant, machinery and equipment | 23 | €25,032 | €17,550 | -€7,482 | -29.9% |
| Furniture and vehicles | 24 | €30,716 | €100,360 | +€69,644 | +227% |
| Current assets | 29/58 | €576,410 | €659,941 | +€83,531 | +14.5% |
| Amounts receivable within one year | 40/41 | €109,997 | €57,642 | -€52,355 | -47.6% |
| Trade receivables | 40 | €109,997 | €57,642 | -€52,355 | -47.6% |
| Cash at bank and in hand | 54/58 | €466,413 | €602,299 | +€135,886 | +29.1% |
| Total equity and liabilities | 10/49 | €632,158 | €777,850 | +€145,692 | +23.0% |
| Equity | 10/15 | €493,183 | €647,964 | +€154,781 | +31.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €486,983 | €641,764 | +€154,781 | +31.8% |
| Distributable reserves | 133 | €486,983 | €641,764 | +€154,781 | +31.8% |
| Amounts payable | 17/49 | €138,975 | €129,886 | -€9,089 | -6.5% |
| Amounts payable within one year | 42/48 | €119,036 | €109,827 | -€9,209 | -7.7% |
| Trade debts | 44 | €20,134 | €14,722 | -€5,412 | -26.9% |
| Suppliers | 440/4 | €20,134 | €14,722 | -€5,412 | -26.9% |
| Taxes, remuneration and social security | 45 | €50,408 | €71,384 | +€20,976 | +41.6% |
| Taxes | 450/3 | €31,797 | €62,971 | +€31,174 | +98.0% |
| Remuneration and social security | 454/9 | €18,611 | €8,413 | -€10,198 | -54.8% |
| Other amounts payable | 47/48 | €48,494 | €23,721 | -€24,773 | -51.1% |
| Accrued charges and deferred income | 492/3 | €19,939 | €20,059 | +€120 | +0.6% |
| Remuneration, social security and pensions | 62 | €279,224 | €297,898 | +€18,673 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,002 | €31,217 | +€13,215 | +73.4% |
| Other operating charges | 640/8 | €1,488 | €1,496 | +€7 | +0.5% |
| Gross operating margin | 9900 | €480,183 | €554,586 | +€74,402 | +15.5% |
| Operating profit (loss) | 9901 | €181,468 | €223,975 | +€42,507 | +23.4% |
| Financial income | 75/76B | €330 | €1,804 | +€1,474 | +446% |
| Recurring financial income | 75 | €330 | €1,804 | +€1,474 | +446% |
| Financial charges | 65/66B | €395 | €78 | -€317 | -80.2% |
| Recurring financial charges | 65 | €395 | €78 | -€317 | -80.2% |
| Profit (loss) for the period before taxes | 9903 | €181,404 | €225,701 | +€44,297 | +24.4% |
| Income taxes | 67/77 | €54,122 | €69,254 | +€15,132 | +28.0% |
| Profit (loss) for the period | 9904 | €127,282 | €156,447 | +€29,165 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €127,282 | €156,447 | +€29,165 | +22.9% |
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 15 October 2026 via checked.be.