Joris-VKH: 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.
Joris-VKH
Largest movements
- Cash +€90,813
up €90,813 (+181.4%), from €50,064 to €140,877
mainly Other debts (+€91,700) and Net result for the year (+€38,973)
- Tangible fixed assets +€51,787
up €51,787 (+391.6%), from €13,223 to €65,010
- Receivables within one year -€16,632
down €16,632 (-89.0%), from €18,685 to €2,053
of which Trade receivables: -€14,520
- Other debts +€91,700
up €91,700 (+436.7%), from €21,000 to €112,700
- Reserves +€38,973
up €38,973 (+90.8%), from €42,911 to €81,883
- Tax, wage and social debts -€3,977
down €3,977 (-31.1%), from €12,784 to €8,808
of which Remuneration and social security: -€2,805
- Depreciation +€9,534
up €9,534 (+288.4%), from €3,306 to €12,840
- Gross operating margin +€2,991
up €2,991 (+5.2%), from €57,511 to €60,502
- Taxes -€2,931
down €2,931 (-26.9%), from €10,878 to €7,947
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 | €82,713 | €208,504 | +€125,791 | +152.1% |
| Fixed assets | 21/28 | €13,223 | €65,010 | +€51,787 | +391.6% |
| Tangible fixed assets | 22/27 | €13,223 | €65,010 | +€51,787 | +391.6% |
| Furniture and vehicles | 24 | €13,223 | €65,010 | +€51,787 | +391.6% |
| Current assets | 29/58 | €69,490 | €143,494 | +€74,005 | +106.5% |
| Amounts receivable within one year | 40/41 | €18,685 | €2,053 | -€16,632 | -89.0% |
| Trade receivables | 40 | €14,520 | €0 | -€14,520 | -100.0% |
| Other amounts receivable | 41 | €4,165 | €2,053 | -€2,112 | -50.7% |
| Cash at bank and in hand | 54/58 | €50,064 | €140,877 | +€90,813 | +181.4% |
| Deferred charges and accrued income | 490/1 | €740 | €563 | -€177 | -23.9% |
| Total equity and liabilities | 10/49 | €82,713 | €208,504 | +€125,791 | +152.1% |
| Equity | 10/15 | €47,911 | €86,883 | +€38,973 | +81.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €42,911 | €81,883 | +€38,973 | +90.8% |
| Distributable reserves | 133 | €42,911 | €81,883 | +€38,973 | +90.8% |
| Amounts payable | 17/49 | €34,802 | €121,621 | +€86,819 | +249.5% |
| Amounts payable within one year | 42/48 | €34,802 | €121,621 | +€86,819 | +249.5% |
| Trade debts | 44 | €1,018 | €113 | -€904 | -88.9% |
| Suppliers | 440/4 | €1,018 | €113 | -€904 | -88.9% |
| Taxes, remuneration and social security | 45 | €12,784 | €8,808 | -€3,977 | -31.1% |
| Taxes | 450/3 | €9,980 | €8,808 | -€1,172 | -11.7% |
| Remuneration and social security | 454/9 | €2,805 | €0 | -€2,805 | -100.0% |
| Other amounts payable | 47/48 | €21,000 | €112,700 | +€91,700 | +436.7% |
| Non-recurring operating income | 76A | - | €2,479 | +€2,479 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,306 | €12,840 | +€9,534 | +288.4% |
| Other operating charges | 640/8 | €387 | €731 | +€343 | +88.6% |
| Gross operating margin | 9900 | €57,511 | €60,502 | +€2,991 | +5.2% |
| Operating profit (loss) | 9901 | €53,818 | €46,932 | -€6,886 | -12.8% |
| Financial charges | 65/66B | €30 | €12 | -€18 | -58.7% |
| Recurring financial charges | 65 | €30 | €12 | -€18 | -58.7% |
| Profit (loss) for the period before taxes | 9903 | €53,788 | €46,919 | -€6,869 | -12.8% |
| Income taxes | 67/77 | €10,878 | €7,947 | -€2,931 | -26.9% |
| Profit (loss) for the period | 9904 | €42,911 | €38,973 | -€3,938 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,911 | €38,973 | -€3,938 | -9.2% |
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 5 October 2026 via checked.be.