J.V.D.: 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.D.
Largest movements
- Tangible fixed assets -€14,028
down €14,028 (-10.9%), from €128,195 to €114,167
of which Plant, machinery and equipment: -€11,839
- Profit (loss) carried forward -€15,333
down €15,333 (-126.8%), from -€12,090 to -€27,423
- Gross operating margin -€3,713
down €3,713, from €3,346 to -€367
- Depreciation +€1,162
up €1,162 (+9.0%), from €12,867 to €14,028
- Financial charges +€51
up €51 (+1700.0%), from €3 to €54
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 | €147,368 | €131,649 | -€15,719 | -10.7% |
| Fixed assets | 21/28 | €128,567 | €114,539 | -€14,028 | -10.9% |
| Tangible fixed assets | 22/27 | €128,195 | €114,167 | -€14,028 | -10.9% |
| Land and buildings | 22 | €40,898 | €38,709 | -€2,189 | -5.4% |
| Plant, machinery and equipment | 23 | €87,297 | €75,458 | -€11,839 | -13.6% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €18,801 | €17,110 | -€1,691 | -9.0% |
| Cash at bank and in hand | 54/58 | €18,201 | €16,810 | -€1,391 | -7.6% |
| Deferred charges and accrued income | 490/1 | €600 | €300 | -€300 | -50.0% |
| Total equity and liabilities | 10/49 | €147,368 | €131,649 | -€15,719 | -10.7% |
| Equity | 10/15 | €13,333 | -€2,000 | -€15,333 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €6,831 | €6,831 | = | 0.0% |
| Distributable reserves | 133 | €6,831 | €6,831 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,090 | -€27,423 | -€15,333 | -126.8% |
| Amounts payable | 17/49 | €134,035 | €133,649 | -€386 | -0.3% |
| Amounts payable within one year | 42/48 | €133,969 | €133,582 | -€387 | -0.3% |
| Trade debts | 44 | €387 | - | -€387 | |
| Suppliers | 440/4 | €387 | - | -€387 | |
| Other amounts payable | 47/48 | €133,582 | €133,582 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,867 | €14,028 | +€1,162 | +9.0% |
| Other operating charges | 640/8 | €857 | €884 | +€27 | +3.2% |
| Gross operating margin | 9900 | €3,346 | -€367 | -€3,713 | |
| Operating profit (loss) | 9901 | -€10,377 | -€15,279 | -€4,902 | -47.2% |
| Financial charges | 65/66B | €3 | €54 | +€51 | +1700.0% |
| Recurring financial charges | 65 | €3 | €54 | +€51 | +1700.0% |
| Profit (loss) for the period before taxes | 9903 | -€10,380 | -€15,333 | -€4,953 | -47.7% |
| Profit (loss) for the period | 9904 | -€10,380 | -€15,333 | -€4,953 | -47.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,380 | -€15,333 | -€4,953 | -47.7% |
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 8 October 2026 via checked.be.