J.V. CONSTRUCT: what changed
Two fiscal 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. CONSTRUCT
Largest movements
- Stocks and contracts +€1.3m
up €1.3m (+85.3%), from €1.5m to €2.8m
of which Contracts in progress: +€1.2m
- Receivables within one year +€418,643
up €418,643 (+158.9%), from €263,445 to €682,089
of which Trade receivables: +€515,800
- Cash +€104,309
up €104,309 (+248.5%), from €41,983 to €146,291
mainly Short-term financial debts (+€909,600) and Advances received (+€683,294)
- Financial fixed assets +€50,000
up €50,000 (+100.0%), from €50,000 to €100,000
- Short-term financial debts +€909,600
up €909,600 (+62.8%), from €1.4m to €2.4m
of which Credit institutions: +€815,600
- Advances received +€683,294
up €683,294 (+6832.9%), from €10,000 to €693,294
- Trade debts +€171,630
up €171,630 (+90.7%), from €189,257 to €360,886
- Profit (loss) carried forward +€97,329
up €97,329 (+30.9%), from €315,228 to €412,557
- Gross operating margin +€119,250
up €119,250 (+186.2%), from €64,029 to €183,279
- Financial charges +€53,563
up €53,563 (+156.4%), from €34,238 to €87,801
of which Financial charges: +€51,801
- Taxes +€21,559
new in 2025: €21,559
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 | €2,209,341 | €4,037,515 | +€1.8m | +82.7% |
| Fixed assets | 21/28 | €399,575 | €427,704 | +€28,129 | +7.0% |
| Tangible fixed assets | 22/27 | €349,575 | €327,704 | -€21,871 | -6.3% |
| Land and buildings | 22 | €348,064 | €326,596 | -€21,468 | -6.2% |
| Plant, machinery and equipment | 23 | €1,511 | €1,108 | -€402 | -26.6% |
| Financial fixed assets | 28 | €50,000 | €100,000 | +€50,000 | +100.0% |
| Current assets | 29/58 | €1,809,767 | €3,609,811 | +€1.8m | +99.5% |
| Stocks and contracts in progress | 3 | €1,500,000 | €2,779,060 | +€1.3m | +85.3% |
| Stocks | 30/36 | - | €129,060 | +€129,060 | |
| Contracts in progress | 37 | €1,500,000 | €2,650,000 | +€1.2m | +76.7% |
| Amounts receivable within one year | 40/41 | €263,445 | €682,089 | +€418,643 | +158.9% |
| Trade receivables | 40 | - | €515,800 | +€515,800 | |
| Other amounts receivable | 41 | €263,445 | €166,289 | -€97,157 | -36.9% |
| Cash at bank and in hand | 54/58 | €41,983 | €146,291 | +€104,309 | +248.5% |
| Deferred charges and accrued income | 490/1 | €4,338 | €2,371 | -€1,967 | -45.3% |
| Total equity and liabilities | 10/49 | €2,209,341 | €4,037,515 | +€1.8m | +82.7% |
| Equity | 10/15 | €469,367 | €543,945 | +€74,578 | +15.9% |
| Contributions | 10/11 | €62,647 | €62,647 | = | 0.0% |
| Capital | 10 | €62,647 | €62,647 | = | 0.0% |
| Issued capital | 100 | €62,647 | €62,647 | = | 0.0% |
| Reserves | 13 | €91,492 | €68,741 | -€22,751 | -24.9% |
| Non-distributable reserves | 130/1 | €6,265 | €6,265 | = | 0.0% |
| Legal reserve | 130 | €6,265 | €6,265 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,488 | €6,737 | -€62,751 | -90.3% |
| Distributable reserves | 133 | €15,739 | €55,739 | +€40,000 | +254.1% |
| Profit (loss) carried forward | 14 | €315,228 | €412,557 | +€97,329 | +30.9% |
| Provisions and deferred taxes | 16 | €91,512 | €59,200 | -€32,312 | -35.3% |
| Provisions for liabilities and charges | 160/5 | €59,200 | €59,200 | = | 0.0% |
| Pensions and similar obligations | 160 | €59,200 | €59,200 | = | 0.0% |
| Deferred taxes | 168 | €32,312 | - | -€32,312 | |
| Amounts payable | 17/49 | €1,648,462 | €3,434,371 | +€1.8m | +108.3% |
| Amounts payable within one year | 42/48 | €1,648,462 | €3,434,371 | +€1.8m | +108.3% |
| Financial debts | 43 | €1,449,200 | €2,358,800 | +€909,600 | +62.8% |
| Credit institutions | 430/8 | €1,430,000 | €2,245,600 | +€815,600 | +57.0% |
| Other loans | 439 | €19,200 | €113,200 | +€94,000 | +489.6% |
| Trade debts | 44 | €189,257 | €360,886 | +€171,630 | +90.7% |
| Suppliers | 440/4 | €189,257 | €360,886 | +€171,630 | +90.7% |
| Advances received on contracts in progress | 46 | €10,000 | €693,294 | +€683,294 | +6832.9% |
| Taxes, remuneration and social security | 45 | €5 | €21,390 | +€21,385 | +421801.2% |
| Taxes | 450/3 | €5 | €21,390 | +€21,385 | +421801.2% |
| Non-recurring operating income | 76A | €62 | - | -€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,810 | €21,871 | +€60 | +0.3% |
| Other operating charges | 640/8 | €8,385 | €9,714 | +€1,329 | +15.8% |
| Non-recurring operating charges | 66A | - | €70 | +€70 | |
| Gross operating margin | 9900 | €64,029 | €183,279 | +€119,250 | +186.2% |
| Operating profit (loss) | 9901 | €33,834 | €151,625 | +€117,791 | +348.1% |
| Financial charges | 65/66B | €34,238 | €87,801 | +€53,563 | +156.4% |
| Recurring financial charges | 65 | €34,238 | €86,039 | +€51,801 | +151.3% |
| Non-recurring financial charges | 66B | - | €1,762 | +€1,762 | |
| Profit (loss) for the period before taxes | 9903 | -€404 | €63,824 | +€64,228 | |
| Transfer from deferred taxes | 780 | €2,230 | €32,312 | +€30,082 | +1349.1% |
| Income taxes | 67/77 | - | €21,559 | +€21,559 | |
| Profit (loss) for the period | 9904 | €1,826 | €74,578 | +€72,752 | +3984.7% |
| Transfer from tax-exempt reserves | 789 | €4,330 | €62,751 | +€58,421 | +1349.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,156 | €137,329 | +€131,173 | +2130.8% |
Source: filed annual accounts (NBB), fiscal 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.