J2V: 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.
J2V
Largest movements
- Cash -€352,980
down €352,980 (-77.4%), from €455,961 to €102,981
mainly Investment in fixed assets (net) (-€321,223) and Contributions, distributions and other (-€228,190)
- Tangible fixed assets +€248,449
up €248,449 (+73.8%), from €336,584 to €585,034
of which Land and buildings: +€259,116
- Current investments +€100,029
up €100,029 (+5,524%), from €1,811 to €101,840
- Reserves -€221,997
down €221,997 (-65.0%), from €341,649 to €119,652
of which Distributable reserves: -€162,457
- Other debts +€218,063
up €218,063 (+1,435%), from €15,198 to €233,261
- Depreciation +€45,729
up €45,729 (+169%), from €27,044 to €72,773
- Gross operating margin -€7,286
down €7,286 (-46.3%), from €15,730 to €8,444
- Financial income +€5,051
up €5,051 (+7.0%), from €72,283 to €77,334
- Taxes -€4,353
down €4,353 (-84.4%), from €5,160 to €807
- Financial charges -€595
down €595 (-22.1%), from €2,697 to €2,102
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 | €1,195,666 | €1,179,044 | -€16,622 | -1.4% |
| Fixed assets | 21/28 | €579,104 | €827,554 | +€248,449 | +42.9% |
| Tangible fixed assets | 22/27 | €336,584 | €585,034 | +€248,449 | +73.8% |
| Land and buildings | 22 | €318,117 | €577,233 | +€259,116 | +81.5% |
| Plant, machinery and equipment | 23 | - | €2,027 | +€2,027 | |
| Furniture and vehicles | 24 | €18,467 | €5,773 | -€12,694 | -68.7% |
| Financial fixed assets | 28 | €242,520 | €242,520 | = | 0.0% |
| Current assets | 29/58 | €616,562 | €351,491 | -€265,072 | -43.0% |
| Amounts receivable after more than one year | 29 | €139,480 | €139,480 | = | 0.0% |
| Trade receivables | 290 | €139,480 | €139,480 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,357 | €7 | -€10,349 | -99.9% |
| Trade receivables | 40 | €10,357 | €0 | -€10,357 | -100% |
| Other amounts receivable | 41 | €0 | €7 | +€7 | |
| Current investments | 50/53 | €1,811 | €101,840 | +€100,029 | +5,524% |
| Cash at bank and in hand | 54/58 | €455,961 | €102,981 | -€352,980 | -77.4% |
| Deferred charges and accrued income | 490/1 | €8,954 | €7,182 | -€1,772 | -19.8% |
| Total equity and liabilities | 10/49 | €1,195,666 | €1,179,044 | -€16,622 | -1.4% |
| Equity | 10/15 | €1,037,852 | €815,855 | -€221,997 | -21.4% |
| Contributions | 10/11 | €666,000 | €666,000 | = | 0.0% |
| Reserves | 13 | €341,649 | €119,652 | -€221,997 | -65.0% |
| Non-distributable reserves | 130/1 | €59,540 | €0 | -€59,540 | -100% |
| Reserves not available under the articles | 1311 | €59,540 | €0 | -€59,540 | -100% |
| Distributable reserves | 133 | €282,109 | €119,652 | -€162,457 | -57.6% |
| Profit (loss) carried forward | 14 | €30,203 | €30,203 | = | 0.0% |
| Amounts payable | 17/49 | €157,815 | €363,189 | +€205,374 | +130% |
| Amounts payable after more than one year | 17 | €115,000 | €105,000 | -€10,000 | -8.7% |
| Financial debts | 170/4 | €115,000 | €105,000 | -€10,000 | -8.7% |
| Amounts payable within one year | 42/48 | €41,224 | €256,790 | +€215,567 | +523% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €2,036 | €3,335 | +€1,299 | +63.8% |
| Suppliers | 440/4 | €2,036 | €3,335 | +€1,299 | +63.8% |
| Taxes, remuneration and social security | 45 | €13,989 | €10,194 | -€3,795 | -27.1% |
| Taxes | 450/3 | €13,989 | €10,194 | -€3,795 | -27.1% |
| Other amounts payable | 47/48 | €15,198 | €233,261 | +€218,063 | +1,435% |
| Accrued charges and deferred income | 492/3 | €1,591 | €1,399 | -€192 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,044 | €72,773 | +€45,729 | +169% |
| Other operating charges | 640/8 | €3,503 | €3,902 | +€399 | +11.4% |
| Gross operating margin | 9900 | €15,730 | €8,444 | -€7,286 | -46.3% |
| Operating profit (loss) | 9901 | -€14,817 | -€68,231 | -€53,415 | -361% |
| Financial income | 75/76B | €72,283 | €77,334 | +€5,051 | +7.0% |
| Recurring financial income | 75 | €72,283 | €77,334 | +€5,051 | +7.0% |
| Financial charges | 65/66B | €2,697 | €2,102 | -€595 | -22.1% |
| Recurring financial charges | 65 | €2,697 | €2,102 | -€595 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €54,769 | €7,001 | -€47,768 | -87.2% |
| Income taxes | 67/77 | €5,160 | €807 | -€4,353 | -84.4% |
| Profit (loss) for the period | 9904 | €49,609 | €6,194 | -€43,415 | -87.5% |
| Profit (loss) for the period to be appropriated | 9905 | €49,609 | €6,194 | -€43,415 | -87.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.