J.V.M.: 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.M.
Largest movements
- Receivables within one year -€4,410
down €4,410 (-99.9%), from €4,414 to €5
of which Trade receivables: -€3,607
- Tax, wage and social debts -€3,966
down €3,966 (-78.5%), from €5,051 to €1,085
- Profit (loss) carried forward -€3,049
new in 2025: -€3,049
- Gross operating margin -€7,460
down €7,460, from €5,070 to -€2,390
- Staff costs +€1,290
up €1,290, from -€1,290 to €0
- Other operating charges -€612
down €612 (-51.0%), from €1,198 to €587
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 | €272,056 | €264,943 | -€7,114 | -2.6% |
| Fixed assets | 21/28 | €229,731 | €229,731 | = | 0.0% |
| Tangible fixed assets | 22/27 | €229,731 | €229,731 | = | 0.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €229,731 | €229,731 | = | 0.0% |
| Current assets | 29/58 | €42,326 | €35,212 | -€7,114 | -16.8% |
| Amounts receivable within one year | 40/41 | €4,414 | €5 | -€4,410 | -99.9% |
| Trade receivables | 40 | €3,607 | €0 | -€3,607 | -100% |
| Other amounts receivable | 41 | €808 | €5 | -€803 | -99.4% |
| Cash at bank and in hand | 54/58 | €37,911 | €35,207 | -€2,704 | -7.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €272,056 | €264,943 | -€7,114 | -2.6% |
| Equity | 10/15 | €266,906 | €263,858 | -€3,049 | -1.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €205,406 | €205,406 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €947 | €947 | = | 0.0% |
| Distributable reserves | 133 | €198,310 | €198,310 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€3,049 | -€3,049 | |
| Amounts payable | 17/49 | €5,150 | €1,085 | -€4,065 | -78.9% |
| Amounts payable within one year | 42/48 | €5,150 | €1,085 | -€4,065 | -78.9% |
| Trade debts | 44 | €99 | €0 | -€99 | -100% |
| Suppliers | 440/4 | €99 | €0 | -€99 | -100% |
| Taxes, remuneration and social security | 45 | €5,051 | €1,085 | -€3,966 | -78.5% |
| Taxes | 450/3 | €5,051 | €1,085 | -€3,966 | -78.5% |
| Non-recurring operating income | 76A | €3,000 | €0 | -€3,000 | -100% |
| Remuneration, social security and pensions | 62 | -€1,290 | €0 | +€1,290 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,198 | €587 | -€612 | -51.0% |
| Gross operating margin | 9900 | €5,070 | -€2,390 | -€7,460 | |
| Operating profit (loss) | 9901 | €5,162 | -€2,977 | -€8,138 | |
| Financial income | 75/76B | €49 | €3 | -€46 | -93.8% |
| Recurring financial income | 75 | €49 | €3 | -€46 | -93.8% |
| Financial charges | 65/66B | €65 | €75 | +€10 | +14.6% |
| Recurring financial charges | 65 | €65 | €75 | +€10 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €5,145 | -€3,049 | -€8,194 | |
| Profit (loss) for the period | 9904 | €5,145 | -€3,049 | -€8,194 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,145 | -€3,049 | -€8,194 |
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 26 October 2026 via checked.be.