JN-V: 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.
JN-V
Largest movements
- Receivables within one year +€35,262
up €35,262 (+107.8%), from €32,698 to €67,961
of which Trade receivables: +€35,630
- Stocks and contracts +€4,975
up €4,975 (+79.6%), from €6,252 to €11,228
- Cash +€2,880
up €2,880 (+7.2%), from €39,930 to €42,809
mainly Net result for the year (+€43,277) and Tax, wage and social debts (+€12,562)
- Tangible fixed assets -€2,690
down €2,690 (-2.7%), from €101,171 to €98,482
- Reserves +€43,277
up €43,277 (+75.7%), from €57,195 to €100,472
- Tax, wage and social debts +€12,562
up €12,562 (+46.5%), from €27,033 to €39,595
- Debts after one year -€10,723
down €10,723 (-17.2%), from €62,416 to €51,693
- Other debts -€10,722
down €10,722 (-42.3%), from €25,324 to €14,602
- Trade debts +€4,168
up €4,168 (+419.1%), from €995 to €5,162
- Financial charges +€2,763
up €2,763 (+48.7%), from €5,673 to €8,436
- Staff costs -€1,235
down €1,235 (-99.9%), from €1,237 to €2
- Depreciation +€756
up €756 (+9.5%), from €7,933 to €8,690
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 | €183,288 | €224,271 | +€40,983 | +22.4% |
| Fixed assets | 21/28 | €101,171 | €98,482 | -€2,690 | -2.7% |
| Tangible fixed assets | 22/27 | €101,171 | €98,482 | -€2,690 | -2.7% |
| Land and buildings | 22 | €95,713 | €94,566 | -€1,147 | -1.2% |
| Plant, machinery and equipment | 23 | €2,479 | €1,862 | -€617 | -24.9% |
| Furniture and vehicles | 24 | €2,979 | €2,054 | -€925 | -31.1% |
| Current assets | 29/58 | €82,117 | €125,790 | +€43,673 | +53.2% |
| Stocks and contracts in progress | 3 | €6,252 | €11,228 | +€4,975 | +79.6% |
| Stocks | 30/36 | €6,252 | €11,228 | +€4,975 | +79.6% |
| Amounts receivable within one year | 40/41 | €32,698 | €67,961 | +€35,262 | +107.8% |
| Trade receivables | 40 | €16,999 | €52,629 | +€35,630 | +209.6% |
| Other amounts receivable | 41 | €15,699 | €15,332 | -€367 | -2.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €39,930 | €42,809 | +€2,880 | +7.2% |
| Deferred charges and accrued income | 490/1 | €3,236 | €3,792 | +€556 | +17.2% |
| Total equity and liabilities | 10/49 | €183,288 | €224,271 | +€40,983 | +22.4% |
| Equity | 10/15 | €57,295 | €100,572 | +€43,277 | +75.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €57,195 | €100,472 | +€43,277 | +75.7% |
| Distributable reserves | 133 | €57,195 | €100,472 | +€43,277 | +75.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €125,993 | €123,699 | -€2,294 | -1.8% |
| Amounts payable after more than one year | 17 | €62,416 | €51,693 | -€10,723 | -17.2% |
| Financial debts | 170/4 | €62,416 | €51,693 | -€10,723 | -17.2% |
| Amounts payable within one year | 42/48 | €63,577 | €70,593 | +€7,016 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €10,226 | €10,723 | +€496 | +4.9% |
| Financial debts | 43 | - | €511 | +€511 | |
| Other loans | 439 | - | €511 | +€511 | |
| Trade debts | 44 | €995 | €5,162 | +€4,168 | +419.1% |
| Suppliers | 440/4 | €995 | €5,162 | +€4,168 | +419.1% |
| Taxes, remuneration and social security | 45 | €27,033 | €39,595 | +€12,562 | +46.5% |
| Taxes | 450/3 | €27,033 | €39,595 | +€12,562 | +46.5% |
| Other amounts payable | 47/48 | €25,324 | €14,602 | -€10,722 | -42.3% |
| Accrued charges and deferred income | 492/3 | - | €1,413 | +€1,413 | |
| Remuneration, social security and pensions | 62 | €1,237 | €2 | -€1,235 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,933 | €8,690 | +€756 | +9.5% |
| Other operating charges | 640/8 | €646 | €889 | +€242 | +37.5% |
| Gross operating margin | 9900 | €73,886 | €73,829 | -€57 | -0.1% |
| Operating profit (loss) | 9901 | €64,070 | €64,249 | +€179 | +0.3% |
| Financial income | 75/76B | €327 | €1,003 | +€676 | +206.6% |
| Recurring financial income | 75 | €327 | €1,003 | +€676 | +206.6% |
| Financial charges | 65/66B | €5,673 | €8,436 | +€2,763 | +48.7% |
| Recurring financial charges | 65 | €5,673 | €8,436 | +€2,763 | +48.7% |
| Profit (loss) for the period before taxes | 9903 | €58,724 | €56,816 | -€1,908 | -3.2% |
| Income taxes | 67/77 | €13,839 | €13,539 | -€301 | -2.2% |
| Profit (loss) for the period | 9904 | €44,885 | €43,277 | -€1,608 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €44,885 | €43,277 | -€1,608 | -3.6% |
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 6 October 2026 via checked.be.