JOHAN VDV: 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.
JOHAN VDV
Largest movements
- Stocks and contracts -€25,000
down €25,000 (-79.1%), from €31,587 to €6,587
of which Contracts in progress: -€25,000
- Cash +€7,524
up €7,524 (+11.9%), from €63,145 to €70,668
mainly Stocks and contracts (+€25,000) and Receivables within one year (+€6,218)
- Receivables within one year -€6,218
down €6,218 (-27.1%), from €22,933 to €16,714
of which Trade receivables: -€6,008
- Tangible fixed assets -€4,736
down €4,736 (-20.2%), from €23,435 to €18,699
of which Furniture and vehicles: -€4,970
- Reserves -€20,000
down €20,000 (-20.9%), from €95,479 to €75,479
- Tax, wage and social debts -€6,000
down €6,000 (-39.9%), from €15,037 to €9,037
- Profit (loss) carried forward -€2,448
down €2,448 (-50.9%), from €4,808 to €2,360
- Gross operating margin -€41,947
down €41,947, from €32,308 to -€9,638
- Other operating charges +€34,322
up €34,322 (+3,587%), from €957 to €35,279
- Write-downs -€28,040
new in 2025: -€28,040
- Taxes -€8,949
down €8,949 (-98.5%), from €9,082 to €133
- Financial income -€857
down €857 (-69.9%), from €1,226 to €369
of which Financial income: -€702
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 | €141,545 | €113,358 | -€28,187 | -19.9% |
| Fixed assets | 21/28 | €23,435 | €19,389 | -€4,046 | -17.3% |
| Tangible fixed assets | 22/27 | €23,435 | €18,699 | -€4,736 | -20.2% |
| Plant, machinery and equipment | 23 | €3,559 | €3,793 | +€234 | +6.6% |
| Furniture and vehicles | 24 | €19,876 | €14,906 | -€4,970 | -25.0% |
| Financial fixed assets | 28 | - | €690 | +€690 | |
| Current assets | 29/58 | €118,110 | €93,969 | -€24,141 | -20.4% |
| Stocks and contracts in progress | 3 | €31,587 | €6,587 | -€25,000 | -79.1% |
| Stocks | 30/36 | €6,587 | €6,587 | = | 0.0% |
| Contracts in progress | 37 | €25,000 | - | -€25,000 | |
| Amounts receivable within one year | 40/41 | €22,933 | €16,714 | -€6,218 | -27.1% |
| Trade receivables | 40 | €21,476 | €15,468 | -€6,008 | -28.0% |
| Other amounts receivable | 41 | €1,457 | €1,246 | -€211 | -14.5% |
| Cash at bank and in hand | 54/58 | €63,145 | €70,668 | +€7,524 | +11.9% |
| Deferred charges and accrued income | 490/1 | €446 | - | -€446 | |
| Total equity and liabilities | 10/49 | €141,545 | €113,358 | -€28,187 | -19.9% |
| Equity | 10/15 | €125,076 | €102,628 | -€22,448 | -17.9% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €95,479 | €75,479 | -€20,000 | -20.9% |
| Distributable reserves | 133 | €95,479 | €75,479 | -€20,000 | -20.9% |
| Profit (loss) carried forward | 14 | €4,808 | €2,360 | -€2,448 | -50.9% |
| Amounts payable | 17/49 | €16,469 | €10,729 | -€5,739 | -34.8% |
| Amounts payable within one year | 42/48 | €16,469 | €10,729 | -€5,739 | -34.8% |
| Trade debts | 44 | €1,381 | €1,641 | +€261 | +18.9% |
| Suppliers | 440/4 | €1,381 | €1,641 | +€261 | +18.9% |
| Taxes, remuneration and social security | 45 | €15,037 | €9,037 | -€6,000 | -39.9% |
| Taxes | 450/3 | €15,037 | €9,037 | -€6,000 | -39.9% |
| Other amounts payable | 47/48 | €51 | €51 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,203 | €5,766 | +€563 | +10.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€28,040 | -€28,040 | |
| Other operating charges | 640/8 | €957 | €35,279 | +€34,322 | +3,587% |
| Gross operating margin | 9900 | €32,308 | -€9,638 | -€41,947 | |
| Operating profit (loss) | 9901 | €26,149 | -€22,642 | -€48,791 | |
| Financial income | 75/76B | €1,226 | €369 | -€857 | -69.9% |
| Recurring financial income | 75 | €1,070 | €369 | -€702 | -65.6% |
| Non-recurring financial income | 76B | €156 | - | -€156 | |
| Financial charges | 65/66B | €39 | €40 | +€1 | +3.6% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +3.6% |
| Non-recurring financial charges | 66B | €39 | €40 | +€1 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €27,336 | -€22,314 | -€49,650 | |
| Income taxes | 67/77 | €9,082 | €133 | -€8,949 | -98.5% |
| Profit (loss) for the period | 9904 | €18,254 | -€22,448 | -€40,701 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,254 | -€22,448 | -€40,701 |
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 16 October 2026 via checked.be.