J.V. Projects: 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. Projects
Largest movements
- Cash +€39,193
up €39,193 (+50.4%), from €77,830 to €117,023
mainly Net result for the year (+€59,835) and Tax, wage and social debts (+€17,852)
- Receivables within one year +€36,350
up €36,350 (+57.0%), from €63,816 to €100,167
of which Trade receivables: +€33,914
- Tangible fixed assets -€4,732
down €4,732 (-16.3%), from €28,957 to €24,226
of which Furniture and vehicles: -€3,427
- Reserves +€59,002
up €59,002 (+52.9%), from €111,607 to €170,609
- Tax, wage and social debts +€17,852
up €17,852 (+40.1%), from €44,538 to €62,390
- Trade debts -€6,794
down €6,794 (-76.7%), from €8,857 to €2,063
- Gross operating margin -€72,783
down €72,783 (-46.0%), from €158,088 to €85,305
- Taxes -€17,091
down €17,091 (-51.7%), from €33,058 to €15,966
- Depreciation -€2,209
down €2,209 (-20.9%), from €10,549 to €8,340
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 | €170,604 | €241,665 | +€71,061 | +41.7% |
| Fixed assets | 21/28 | €28,957 | €24,476 | -€4,482 | -15.5% |
| Tangible fixed assets | 22/27 | €28,957 | €24,226 | -€4,732 | -16.3% |
| Plant, machinery and equipment | 23 | €1,305 | €0 | -€1,305 | -100% |
| Furniture and vehicles | 24 | €27,652 | €24,226 | -€3,427 | -12.4% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €141,647 | €217,189 | +€75,543 | +53.3% |
| Amounts receivable within one year | 40/41 | €63,816 | €100,167 | +€36,350 | +57.0% |
| Trade receivables | 40 | €60,793 | €94,707 | +€33,914 | +55.8% |
| Other amounts receivable | 41 | €3,024 | €5,460 | +€2,436 | +80.6% |
| Cash at bank and in hand | 54/58 | €77,830 | €117,023 | +€39,193 | +50.4% |
| Total equity and liabilities | 10/49 | €170,604 | €241,665 | +€71,061 | +41.7% |
| Equity | 10/15 | €116,607 | €175,609 | +€59,002 | +50.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €111,607 | €170,609 | +€59,002 | +52.9% |
| Distributable reserves | 133 | €111,607 | €170,609 | +€59,002 | +52.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €53,997 | €66,056 | +€12,060 | +22.3% |
| Amounts payable within one year | 42/48 | €53,997 | €65,036 | +€11,040 | +20.4% |
| Trade debts | 44 | €8,857 | €2,063 | -€6,794 | -76.7% |
| Suppliers | 440/4 | €8,857 | €2,063 | -€6,794 | -76.7% |
| Taxes, remuneration and social security | 45 | €44,538 | €62,390 | +€17,852 | +40.1% |
| Taxes | 450/3 | €44,538 | €62,390 | +€17,852 | +40.1% |
| Other amounts payable | 47/48 | €601 | €583 | -€18 | -3.0% |
| Accrued charges and deferred income | 492/3 | - | €1,020 | +€1,020 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,549 | €8,340 | -€2,209 | -20.9% |
| Other operating charges | 640/8 | €1,109 | €690 | -€419 | -37.8% |
| Gross operating margin | 9900 | €158,088 | €85,305 | -€72,783 | -46.0% |
| Operating profit (loss) | 9901 | €146,430 | €76,275 | -€70,156 | -47.9% |
| Financial income | 75/76B | - | €209 | +€209 | |
| Recurring financial income | 75 | - | €209 | +€209 | |
| Financial charges | 65/66B | €907 | €682 | -€224 | -24.8% |
| Recurring financial charges | 65 | €907 | €682 | -€224 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €145,524 | €75,801 | -€69,723 | -47.9% |
| Income taxes | 67/77 | €33,058 | €15,966 | -€17,091 | -51.7% |
| Profit (loss) for the period | 9904 | €112,466 | €59,835 | -€52,631 | -46.8% |
| Profit (loss) for the period to be appropriated | 9905 | €112,466 | €59,835 | -€52,631 | -46.8% |
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 18 October 2026 via checked.be.