J.V.D.: what changed
J.V.D.
Largest movements
- Cash -€63,625
down €63,625 (-50.0%), from €127,130 to €63,505
mainly Tax, wage and social debts (-€55,235) and Debts after one year (-€50,441)
- Tangible fixed assets -€36,396
down €36,396 (-9.7%), from €373,504 to €337,108
of which Leasing and similar rights: -€59,523
- Receivables within one year -€12,450
down €12,450 (-2.6%), from €486,905 to €474,455
of which Trade receivables: -€98,265
- Tax, wage and social debts -€55,235
down €55,235 (-46.6%), from €118,638 to €63,403
of which Taxes: -€32,429
- Debts after one year -€50,441
down €50,441 (-16.6%), from €303,001 to €252,560
of which Financial debts: -€57,523
- Reserves +€39,710
up €39,710 (+10.8%), from €368,521 to €408,231
of which Distributable reserves: +€39,710
- Trade debts -€32,393
down €32,393 (-24.4%), from €132,629 to €100,236
- Short-term financial debts -€23,351
down €23,351 (-43.9%), from €53,189 to €29,838
- Gross operating margin -€19,965
down €19,965 (-4.6%), from €432,224 to €412,259
- Depreciation +€14,520
up €14,520 (+23.7%), from €61,233 to €75,752
- Staff costs -€8,685
down €8,685 (-3.3%), from €259,705 to €251,021
- Taxes -€5,635
down €5,635 (-27.9%), from €20,184 to €14,549
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,052,110 | €930,540 | -€121,570 | -11.6% |
| Fixed assets | 21/28 | €373,504 | €337,108 | -€36,396 | -9.7% |
| Tangible fixed assets | 22/27 | €373,504 | €337,108 | -€36,396 | -9.7% |
| Plant, machinery and equipment | 23 | €48,834 | €54,266 | +€5,432 | +11.1% |
| Furniture and vehicles | 24 | €3,923 | €21,618 | +€17,695 | +451% |
| Leasing and similar rights | 25 | €320,747 | €261,224 | -€59,523 | -18.6% |
| Current assets | 29/58 | €678,606 | €593,432 | -€85,174 | -12.6% |
| Stocks and contracts in progress | 3 | €56,872 | €47,251 | -€9,621 | -16.9% |
| Stocks | 30/36 | €56,872 | €47,251 | -€9,621 | -16.9% |
| Amounts receivable within one year | 40/41 | €486,905 | €474,455 | -€12,450 | -2.6% |
| Trade receivables | 40 | €236,290 | €138,025 | -€98,265 | -41.6% |
| Other amounts receivable | 41 | €250,615 | €336,430 | +€85,815 | +34.2% |
| Cash at bank and in hand | 54/58 | €127,130 | €63,505 | -€63,625 | -50.0% |
| Deferred charges and accrued income | 490/1 | €7,698 | €8,221 | +€522 | +6.8% |
| Total equity and liabilities | 10/49 | €1,052,110 | €930,540 | -€121,570 | -11.6% |
| Equity | 10/15 | €387,121 | €426,831 | +€39,710 | +10.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €368,521 | €408,231 | +€39,710 | +10.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €366,661 | €406,371 | +€39,710 | +10.8% |
| Amounts payable | 17/49 | €664,988 | €503,709 | -€161,279 | -24.3% |
| Amounts payable after more than one year | 17 | €303,001 | €252,560 | -€50,441 | -16.6% |
| Financial debts | 170/4 | €288,646 | €231,124 | -€57,523 | -19.9% |
| Other amounts payable | 178/9 | €14,355 | €21,437 | +€7,082 | +49.3% |
| Amounts payable within one year | 42/48 | €361,097 | €250,999 | -€110,098 | -30.5% |
| Current portion of amounts payable after more than one year | 42 | €56,642 | €57,523 | +€881 | +1.6% |
| Financial debts | 43 | €53,189 | €29,838 | -€23,351 | -43.9% |
| Credit institutions | 430/8 | €53,189 | €29,838 | -€23,351 | -43.9% |
| Trade debts | 44 | €132,629 | €100,236 | -€32,393 | -24.4% |
| Suppliers | 440/4 | €132,629 | €100,236 | -€32,393 | -24.4% |
| Taxes, remuneration and social security | 45 | €118,638 | €63,403 | -€55,235 | -46.6% |
| Taxes | 450/3 | €53,683 | €21,254 | -€32,429 | -60.4% |
| Remuneration and social security | 454/9 | €64,955 | €42,149 | -€22,806 | -35.1% |
| Accrued charges and deferred income | 492/3 | €890 | €149 | -€740 | -83.2% |
| Non-recurring operating income | 76A | €413 | - | -€413 | |
| Remuneration, social security and pensions | 62 | €259,705 | €251,021 | -€8,685 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,233 | €75,752 | +€14,520 | +23.7% |
| Other operating charges | 640/8 | €1,762 | €2,751 | +€989 | +56.1% |
| Gross operating margin | 9900 | €432,224 | €412,259 | -€19,965 | -4.6% |
| Operating profit (loss) | 9901 | €109,524 | €82,735 | -€26,789 | -24.5% |
| Financial income | 75/76B | €444 | €1,188 | +€745 | +168% |
| Recurring financial income | 75 | €444 | €1,188 | +€745 | +168% |
| Financial charges | 65/66B | €30,257 | €29,665 | -€592 | -2.0% |
| Recurring financial charges | 65 | €30,257 | €29,665 | -€592 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €79,711 | €54,259 | -€25,452 | -31.9% |
| Income taxes | 67/77 | €20,184 | €14,549 | -€5,635 | -27.9% |
| Profit (loss) for the period | 9904 | €59,526 | €39,710 | -€19,817 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,526 | €39,710 | -€19,817 | -33.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.