J-VDM: what changed
Two fiscal 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-VDM
Largest movements
- Receivables within one year +€40,720
up €40,720 (+252.7%), from €16,112 to €56,832
of which Trade receivables: +€40,740
- Tangible fixed assets -€15,108
down €15,108 (-20.5%), from €73,593 to €58,485
- Cash +€2,464
up €2,464 (+9.1%), from €27,105 to €29,569
mainly Tax, wage and social debts (+€17,520) and Depreciation (+€15,108)
- Tax, wage and social debts +€17,520
up €17,520 (+216.5%), from €8,094 to €25,614
- Other debts -€16,180
down €16,180 (-18.5%), from €87,272 to €71,092
- Profit (loss) carried forward +€14,537
up €14,537 (+82.3%), from €17,655 to €32,192
- Trade debts +€12,102
up €12,102 (+414.3%), from €2,921 to €15,023
- Depreciation +€13,162
up €13,162 (+676.6%), from €1,945 to €15,108
- Gross operating margin +€6,590
up €6,590 (+20.5%), from €32,090 to €38,680
- Other operating charges -€5,246
down €5,246 (-80.2%), from €6,544 to €1,298
- Taxes +€963
up €963 (+16.5%), from €5,855 to €6,818
- Financial charges +€829
up €829 (+909.4%), from €91 to €920
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 | €117,942 | €145,920 | +€27,979 | +23.7% |
| Fixed assets | 21/28 | €73,593 | €58,485 | -€15,108 | -20.5% |
| Tangible fixed assets | 22/27 | €73,593 | €58,485 | -€15,108 | -20.5% |
| Furniture and vehicles | 24 | €73,593 | €58,485 | -€15,108 | -20.5% |
| Current assets | 29/58 | €44,348 | €87,435 | +€43,086 | +97.2% |
| Amounts receivable within one year | 40/41 | €16,112 | €56,832 | +€40,720 | +252.7% |
| Trade receivables | 40 | €16,022 | €56,762 | +€40,740 | +254.3% |
| Other amounts receivable | 41 | €90 | €70 | -€20 | -22.4% |
| Cash at bank and in hand | 54/58 | €27,105 | €29,569 | +€2,464 | +9.1% |
| Deferred charges and accrued income | 490/1 | €1,131 | €1,033 | -€98 | -8.6% |
| Total equity and liabilities | 10/49 | €117,942 | €145,920 | +€27,979 | +23.7% |
| Equity | 10/15 | €19,655 | €34,192 | +€14,537 | +74.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,655 | €32,192 | +€14,537 | +82.3% |
| Amounts payable | 17/49 | €98,287 | €111,729 | +€13,442 | +13.7% |
| Amounts payable within one year | 42/48 | €98,287 | €111,729 | +€13,442 | +13.7% |
| Trade debts | 44 | €2,921 | €15,023 | +€12,102 | +414.3% |
| Suppliers | 440/4 | €2,921 | €15,023 | +€12,102 | +414.3% |
| Taxes, remuneration and social security | 45 | €8,094 | €25,614 | +€17,520 | +216.5% |
| Taxes | 450/3 | €8,094 | €25,614 | +€17,520 | +216.5% |
| Other amounts payable | 47/48 | €87,272 | €71,092 | -€16,180 | -18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,945 | €15,108 | +€13,162 | +676.6% |
| Other operating charges | 640/8 | €6,544 | €1,298 | -€5,246 | -80.2% |
| Gross operating margin | 9900 | €32,090 | €38,680 | +€6,590 | +20.5% |
| Operating profit (loss) | 9901 | €23,601 | €22,274 | -€1,326 | -5.6% |
| Financial charges | 65/66B | €91 | €920 | +€829 | +909.4% |
| Recurring financial charges | 65 | €91 | €920 | +€829 | +909.4% |
| Profit (loss) for the period before taxes | 9903 | €23,510 | €21,355 | -€2,155 | -9.2% |
| Income taxes | 67/77 | €5,855 | €6,818 | +€963 | +16.5% |
| Profit (loss) for the period | 9904 | €17,655 | €14,537 | -€3,118 | -17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,655 | €14,537 | -€3,118 | -17.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.