J.V. Management: 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. Management
Largest movements
- Receivables within one year -€82,198
down €82,198 (-60.1%), from €136,821 to €54,623
of which Trade receivables: -€84,541
- Deferred charges and accrued income +€10,677
up €10,677 (+160.5%), from €6,653 to €17,331
- Tangible fixed assets +€3,024
up €3,024 (+36.0%), from €8,388 to €11,412
of which Furniture and vehicles: +€1,913
- Reserves -€122,000
down €122,000 (-56.7%), from €215,300 to €93,300
- Other debts +€48,754
up €48,754 (+108.8%), from €44,829 to €93,583
- Advances received +€14,015
new in 2025: €14,015
- Tax, wage and social debts -€7,468
down €7,468 (-29.1%), from €25,698 to €18,230
- Profit (loss) carried forward -€3,606
down €3,606, from €567 to -€3,039
- Gross operating margin -€139,377
down €139,377 (-92.4%), from €150,913 to €11,536
- Taxes -€32,617
down €32,617 (-96.1%), from €33,936 to €1,318
- Depreciation -€22,977
down €22,977 (-89.0%), from €25,823 to €2,846
- Other operating charges -€4,513
down €4,513 (-64.5%), from €7,000 to €2,487
- Financial charges +€3,391
up €3,391 (+70.0%), from €4,848 to €8,238
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 | €293,133 | €223,183 | -€69,950 | -23.9% |
| Fixed assets | 21/28 | €8,388 | €11,412 | +€3,024 | +36.0% |
| Tangible fixed assets | 22/27 | €8,388 | €11,412 | +€3,024 | +36.0% |
| Plant, machinery and equipment | 23 | €421 | €1,531 | +€1,110 | +263.9% |
| Furniture and vehicles | 24 | €7,967 | €9,881 | +€1,913 | +24.0% |
| Current assets | 29/58 | €284,745 | €211,771 | -€72,974 | -25.6% |
| Stocks and contracts in progress | 3 | €253 | - | -€253 | |
| Stocks | 30/36 | €253 | - | -€253 | |
| Amounts receivable within one year | 40/41 | €136,821 | €54,623 | -€82,198 | -60.1% |
| Trade receivables | 40 | €136,802 | €52,261 | -€84,541 | -61.8% |
| Other amounts receivable | 41 | €19 | €2,362 | +€2,343 | +12178.7% |
| Cash at bank and in hand | 54/58 | €141,018 | €139,817 | -€1,201 | -0.9% |
| Deferred charges and accrued income | 490/1 | €6,653 | €17,331 | +€10,677 | +160.5% |
| Total equity and liabilities | 10/49 | €293,133 | €223,183 | -€69,950 | -23.9% |
| Equity | 10/15 | €220,867 | €95,261 | -€125,606 | -56.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €215,300 | €93,300 | -€122,000 | -56.7% |
| Distributable reserves | 133 | €215,300 | €93,300 | -€122,000 | -56.7% |
| Profit (loss) carried forward | 14 | €567 | -€3,039 | -€3,606 | |
| Amounts payable | 17/49 | €72,266 | €127,922 | +€55,656 | +77.0% |
| Amounts payable within one year | 42/48 | €72,266 | €127,522 | +€55,256 | +76.5% |
| Trade debts | 44 | €1,739 | €1,693 | -€46 | -2.6% |
| Suppliers | 440/4 | €1,739 | €1,693 | -€46 | -2.6% |
| Advances received on contracts in progress | 46 | - | €14,015 | +€14,015 | |
| Taxes, remuneration and social security | 45 | €25,698 | €18,230 | -€7,468 | -29.1% |
| Taxes | 450/3 | €25,698 | €18,230 | -€7,468 | -29.1% |
| Other amounts payable | 47/48 | €44,829 | €93,583 | +€48,754 | +108.8% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,823 | €2,846 | -€22,977 | -89.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €758 | €253 | -€506 | -66.7% |
| Other operating charges | 640/8 | €7,000 | €2,487 | -€4,513 | -64.5% |
| Gross operating margin | 9900 | €150,913 | €11,536 | -€139,377 | -92.4% |
| Operating profit (loss) | 9901 | €117,332 | €5,950 | -€111,381 | -94.9% |
| Financial income | 75/76B | €1 | €0 | -€1 | -96.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -96.0% |
| Financial charges | 65/66B | €4,848 | €8,238 | +€3,391 | +70.0% |
| Recurring financial charges | 65 | €4,848 | €8,238 | +€3,391 | +70.0% |
| Profit (loss) for the period before taxes | 9903 | €112,485 | -€2,288 | -€114,773 | |
| Income taxes | 67/77 | €33,936 | €1,318 | -€32,617 | -96.1% |
| Profit (loss) for the period | 9904 | €78,549 | -€3,606 | -€82,156 | |
| Profit (loss) for the period to be appropriated | 9905 | €78,549 | -€3,606 | -€82,156 |
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 10 October 2026 via checked.be.