J.V.H.: 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.H.
Largest movements
- Cash +€7,607
up €7,607 (+9.2%), from €82,487 to €90,094
mainly Other debts (+€17,000) and Net result for the year (+€6,636)
- Receivables within one year +€4,002
up €4,002 (+11.8%), from €33,822 to €37,824
of which Other amounts receivable: +€2,208
- Stocks and contracts +€1,584
up €1,584 (+36.3%), from €4,366 to €5,950
- Tangible fixed assets -€1,555
down €1,555 (-13.9%), from €11,190 to €9,635
of which Plant, machinery and equipment: -€4,107
- Other debts +€17,000
new in 2025: €17,000
- Reserves -€10,365
down €10,365 (-10.3%), from €100,877 to €90,512
of which Distributable reserves: -€10,365
- Trade debts +€5,092
up €5,092 (+1,153%), from €442 to €5,534
- Gross operating margin +€9,265
up €9,265 (+13.1%), from €70,546 to €79,811
- Staff costs +€5,102
up €5,102 (+8.7%), from €58,541 to €63,643
- Other operating charges -€3,743
down €3,743 (-74.4%), from €5,028 to €1,285
- Write-downs +€3,261
up €3,261, from -€3,261 to €0
- Taxes +€1,611
up €1,611 (+108%), from €1,490 to €3,101
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 | €132,210 | €144,398 | +€12,188 | +9.2% |
| Fixed assets | 21/28 | €11,190 | €9,635 | -€1,555 | -13.9% |
| Tangible fixed assets | 22/27 | €11,190 | €9,635 | -€1,555 | -13.9% |
| Plant, machinery and equipment | 23 | €10,125 | €6,018 | -€4,107 | -40.6% |
| Furniture and vehicles | 24 | - | €2,715 | +€2,715 | |
| Other tangible fixed assets | 26 | €1,065 | €902 | -€163 | -15.3% |
| Current assets | 29/58 | €121,020 | €134,763 | +€13,743 | +11.4% |
| Stocks and contracts in progress | 3 | €4,366 | €5,950 | +€1,584 | +36.3% |
| Stocks | 30/36 | €4,366 | €5,950 | +€1,584 | +36.3% |
| Amounts receivable within one year | 40/41 | €33,822 | €37,824 | +€4,002 | +11.8% |
| Trade receivables | 40 | €15,328 | €17,122 | +€1,794 | +11.7% |
| Other amounts receivable | 41 | €18,494 | €20,703 | +€2,208 | +11.9% |
| Cash at bank and in hand | 54/58 | €82,487 | €90,094 | +€7,607 | +9.2% |
| Deferred charges and accrued income | 490/1 | €345 | €895 | +€550 | +159% |
| Total equity and liabilities | 10/49 | €132,210 | €144,398 | +€12,188 | +9.2% |
| Equity | 10/15 | €120,877 | €110,512 | -€10,365 | -8.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €100,877 | €90,512 | -€10,365 | -10.3% |
| Tax-exempt reserves | 132 | €3,050 | €3,050 | = | 0.0% |
| Distributable reserves | 133 | €97,827 | €87,462 | -€10,365 | -10.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €11,333 | €33,885 | +€22,553 | +199% |
| Amounts payable within one year | 42/48 | €10,973 | €33,525 | +€22,553 | +206% |
| Trade debts | 44 | €442 | €5,534 | +€5,092 | +1,153% |
| Suppliers | 440/4 | €442 | €5,534 | +€5,092 | +1,153% |
| Taxes, remuneration and social security | 45 | €10,531 | €10,991 | +€460 | +4.4% |
| Taxes | 450/3 | €468 | €823 | +€354 | +75.7% |
| Remuneration and social security | 454/9 | €10,063 | €10,169 | +€106 | +1.1% |
| Other amounts payable | 47/48 | - | €17,000 | +€17,000 | |
| Accrued charges and deferred income | 492/3 | €360 | €360 | = | 0.0% |
| Non-recurring operating income | 76A | - | €8,775 | +€8,775 | |
| Remuneration, social security and pensions | 62 | €58,541 | €63,643 | +€5,102 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,474 | €5,064 | -€410 | -7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,261 | €0 | +€3,261 | |
| Other operating charges | 640/8 | €5,028 | €1,285 | -€3,743 | -74.4% |
| Gross operating margin | 9900 | €70,546 | €79,811 | +€9,265 | +13.1% |
| Operating profit (loss) | 9901 | €4,763 | €9,819 | +€5,056 | +106% |
| Financial income | 75/76B | €969 | €410 | -€559 | -57.7% |
| Recurring financial income | 75 | €969 | €410 | -€559 | -57.7% |
| Financial charges | 65/66B | €912 | €492 | -€420 | -46.1% |
| Recurring financial charges | 65 | €912 | €492 | -€420 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €4,820 | €9,736 | +€4,917 | +102% |
| Income taxes | 67/77 | €1,490 | €3,101 | +€1,611 | +108% |
| Profit (loss) for the period | 9904 | €3,330 | €6,636 | +€3,306 | +99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,330 | €6,636 | +€3,306 | +99.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.