J.V. BELGIUM: 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.
J.V. BELGIUM
Largest movements
- Receivables after one year +€2.6m
up €2.6m (+210%), from €1.2m to €3.8m
- Current investments -€273,694
down €273,694 (-2.0%), from €14.0m to €13.7m
- Cash -€258,178
down €258,178 (-99.5%), from €259,598 to €1,420
mainly Receivables after one year (-€2.6m) and Contributions, distributions and other (-€1.9m)
- Other debts +€1.9m
up €1.9m (+30,752%), from €6,272 to €1.9m
- Financial income +€1.1m
up €1.1m (+101%), from €1.1m to €2.2m
- Taxes -€182,505
down €182,505, from €75,100 to -€107,406
- Financial charges +€154,400
up €154,400 (+244%), from €63,171 to €217,572
- Gross operating margin -€52,926
down €52,926 (-119%), from -€44,415 to -€97,341
- Other operating charges -€1,943
down €1,943 (-63.3%), from €3,072 to €1,129
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 | €18,525,237 | €20,538,099 | +€2.0m | +10.9% |
| Fixed assets | 21/28 | €1,972,708 | €1,972,708 | = | 0.0% |
| Tangible fixed assets | 22/27 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Financial fixed assets | 28 | €1,972,708 | €1,972,708 | = | 0.0% |
| Current assets | 29/58 | €16,552,529 | €18,565,391 | +€2.0m | +12.2% |
| Amounts receivable after more than one year | 29 | €1,220,111 | €3,781,128 | +€2.6m | +210% |
| Other amounts receivable | 291 | €1,220,111 | €3,781,128 | +€2.6m | +210% |
| Amounts receivable within one year | 40/41 | €1,112,660 | €1,096,377 | -€16,283 | -1.5% |
| Other amounts receivable | 41 | €1,112,660 | €1,096,377 | -€16,283 | -1.5% |
| Current investments | 50/53 | €13,960,161 | €13,686,467 | -€273,694 | -2.0% |
| Cash at bank and in hand | 54/58 | €259,598 | €1,420 | -€258,178 | -99.5% |
| Total equity and liabilities | 10/49 | €18,525,237 | €20,538,099 | +€2.0m | +10.9% |
| Equity | 10/15 | €18,515,979 | €18,588,081 | +€72,102 | +0.4% |
| Contributions | 10/11 | €18,460,560 | €18,460,560 | = | 0.0% |
| Reserves | 13 | €39,304 | €39,304 | = | 0.0% |
| Distributable reserves | 133 | €39,304 | €39,304 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,115 | €88,217 | +€72,102 | +447% |
| Amounts payable | 17/49 | €9,258 | €1,950,018 | +€1.9m | +20,962% |
| Amounts payable within one year | 42/48 | €9,258 | €1,950,018 | +€1.9m | +20,962% |
| Trade debts | 44 | €2,986 | €1,369 | -€1,617 | -54.2% |
| Suppliers | 440/4 | €2,986 | €1,369 | -€1,617 | -54.2% |
| Taxes, remuneration and social security | 45 | - | €13,679 | +€13,679 | |
| Taxes | 450/3 | - | €13,679 | +€13,679 | |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €6,272 | €1,934,970 | +€1.9m | +30,752% |
| Other operating charges | 640/8 | €3,072 | €1,129 | -€1,943 | -63.3% |
| Gross operating margin | 9900 | -€44,415 | -€97,341 | -€52,926 | -119% |
| Operating profit (loss) | 9901 | -€47,487 | -€98,469 | -€50,982 | -107% |
| Financial income | 75/76B | €1,082,907 | €2,180,737 | +€1.1m | +101% |
| Recurring financial income | 75 | €1,082,907 | €2,180,737 | +€1.1m | +101% |
| Financial charges | 65/66B | €63,171 | €217,572 | +€154,400 | +244% |
| Recurring financial charges | 65 | €63,171 | €217,572 | +€154,400 | +244% |
| Profit (loss) for the period before taxes | 9903 | €972,249 | €1,864,696 | +€892,447 | +91.8% |
| Income taxes | 67/77 | €75,100 | -€107,406 | -€182,505 | |
| Profit (loss) for the period | 9904 | €897,149 | €1,972,102 | +€1.1m | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €897,149 | €1,972,102 | +€1.1m | +120% |
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 1 November 2026 via checked.be.