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
- Cash +€3,028
up €3,028 (+31.4%), from €9,627 to €12,655
mainly Depreciation (+€2,872) and Net result for the year (+€1,656)
- Tangible fixed assets -€1,422
down €1,422 (-2.2%), from €64,845 to €63,423
- Reserves +€1,342
up €1,342 (+3.3%), from €40,973 to €42,315
of which Distributable reserves: +€1,275
- Other operating charges -€3,858
no longer reported in 2025 (was €3,858)
- Gross operating margin -€3,484
down €3,484 (-41.5%), from €8,400 to €4,916
- Taxes +€341
new in 2025: €341
- Depreciation -€329
down €329 (-10.3%), from €3,201 to €2,872
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 | €74,776 | €76,432 | +€1,656 | +2.2% |
| Fixed assets | 21/28 | €64,845 | €63,423 | -€1,422 | -2.2% |
| Tangible fixed assets | 22/27 | €64,845 | €63,423 | -€1,422 | -2.2% |
| Land and buildings | 22 | €64,845 | €63,423 | -€1,422 | -2.2% |
| Current assets | 29/58 | €9,931 | €13,009 | +€3,078 | +31.0% |
| Cash at bank and in hand | 54/58 | €9,627 | €12,655 | +€3,028 | +31.4% |
| Deferred charges and accrued income | 490/1 | €304 | €355 | +€51 | +16.7% |
| Total equity and liabilities | 10/49 | €74,776 | €76,432 | +€1,656 | +2.2% |
| Equity | 10/15 | €74,540 | €76,197 | +€1,657 | +2.2% |
| Contributions | 10/11 | €32,226 | €32,226 | +€0 | 0.0% |
| Capital | 10 | €32,226 | €32,226 | +€0 | 0.0% |
| Issued capital | 100 | €32,226 | €32,226 | +€0 | 0.0% |
| Reserves | 13 | €40,973 | €42,315 | +€1,342 | +3.3% |
| Non-distributable reserves | 130/1 | €2,341 | €2,408 | +€67 | +2.9% |
| Legal reserve | 130 | €2,341 | €2,408 | +€67 | +2.9% |
| Distributable reserves | 133 | €38,632 | €39,907 | +€1,275 | +3.3% |
| Profit (loss) carried forward | 14 | €1,341 | €1,656 | +€315 | +23.5% |
| Amounts payable | 17/49 | €236 | €236 | -€0 | -0.1% |
| Amounts payable within one year | 42/48 | €236 | €236 | -€0 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €236 | €236 | -€0 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,201 | €2,872 | -€329 | -10.3% |
| Other operating charges | 640/8 | €3,858 | - | -€3,858 | |
| Gross operating margin | 9900 | €8,400 | €4,916 | -€3,484 | -41.5% |
| Operating profit (loss) | 9901 | €1,341 | €2,043 | +€702 | +52.4% |
| Financial charges | 65/66B | - | €46 | +€46 | |
| Recurring financial charges | 65 | - | €46 | +€46 | |
| Profit (loss) for the period before taxes | 9903 | €1,341 | €1,997 | +€656 | +48.9% |
| Income taxes | 67/77 | - | €341 | +€341 | |
| Profit (loss) for the period | 9904 | €1,341 | €1,656 | +€315 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,341 | €1,656 | +€315 | +23.5% |
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 12 October 2026 via checked.be.