JPMVET: 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.
JPMVET
Largest movements
- Receivables within one year -€72,097
down €72,097 (-82.6%), from €87,274 to €15,177
of which Trade receivables: -€43,425
- Cash -€22,348
down €22,348 (-61.9%), from €36,117 to €13,769
mainly Net result for the year (-€60,782) and Contributions, distributions and other (-€48,146)
- Receivables after one year -€12,722
no longer reported in 2025 (was €12,722)
- Profit (loss) carried forward -€60,782
down €60,782 (-92.4%), from €65,793 to €5,011
- Reserves -€48,146
down €48,146 (-18.5%), from €260,028 to €211,882
of which Distributable reserves: -€43,677
- Other debts +€25,970
new in 2025: €25,970
- Trade debts -€20,103
down €20,103 (-83.5%), from €24,063 to €3,960
- Gross operating margin -€86,871
down €86,871, from €34,581 to -€52,290
- Financial income -€15,827
down €15,827 (-94.2%), from €16,797 to €969
of which Non-recurring financial income: -€15,000
- Staff costs -€14,827
down €14,827 (-97.8%), from €15,165 to €338
- Taxes -€6,075
down €6,075 (-97.5%), from €6,234 to €159
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 | €370,909 | €266,246 | -€104,663 | -28.2% |
| Fixed assets | 21/28 | €173,000 | €174,407 | +€1,407 | +0.8% |
| Tangible fixed assets | 22/27 | €173,000 | €174,407 | +€1,407 | +0.8% |
| Land and buildings | 22 | €170,544 | €163,928 | -€6,616 | -3.9% |
| Furniture and vehicles | 24 | €2,456 | €10,479 | +€8,023 | +326.7% |
| Current assets | 29/58 | €197,909 | €91,839 | -€106,070 | -53.6% |
| Amounts receivable after more than one year | 29 | €12,722 | - | -€12,722 | |
| Other amounts receivable | 291 | €12,722 | - | -€12,722 | |
| Amounts receivable within one year | 40/41 | €87,274 | €15,177 | -€72,097 | -82.6% |
| Trade receivables | 40 | €43,425 | - | -€43,425 | |
| Other amounts receivable | 41 | €43,849 | €15,177 | -€28,673 | -65.4% |
| Current investments | 50/53 | €60,000 | €60,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,117 | €13,769 | -€22,348 | -61.9% |
| Deferred charges and accrued income | 490/1 | €1,796 | €2,893 | +€1,097 | +61.1% |
| Total equity and liabilities | 10/49 | €370,909 | €266,246 | -€104,663 | -28.2% |
| Equity | 10/15 | €344,821 | €235,893 | -€108,928 | -31.6% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Capital | 10 | €19,000 | €19,000 | = | 0.0% |
| Issued capital | 100 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €260,028 | €211,882 | -€48,146 | -18.5% |
| Non-distributable reserves | 130/1 | €7,933 | €3,463 | -€4,470 | -56.3% |
| Legal reserve | 130 | €7,933 | €3,463 | -€4,470 | -56.3% |
| Distributable reserves | 133 | €252,096 | €208,419 | -€43,677 | -17.3% |
| Profit (loss) carried forward | 14 | €65,793 | €5,011 | -€60,782 | -92.4% |
| Amounts payable | 17/49 | €26,088 | €30,353 | +€4,265 | +16.3% |
| Amounts payable within one year | 42/48 | €26,088 | €30,353 | +€4,265 | +16.3% |
| Trade debts | 44 | €24,063 | €3,960 | -€20,103 | -83.5% |
| Suppliers | 440/4 | €24,063 | €3,960 | -€20,103 | -83.5% |
| Taxes, remuneration and social security | 45 | €2,025 | €422 | -€1,602 | -79.1% |
| Taxes | 450/3 | €2,025 | €422 | -€1,602 | -79.1% |
| Other amounts payable | 47/48 | - | €25,970 | +€25,970 | |
| Remuneration, social security and pensions | 62 | €15,165 | €338 | -€14,827 | -97.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,631 | €8,147 | -€484 | -5.6% |
| Other operating charges | 640/8 | €1,077 | €633 | -€444 | -41.2% |
| Non-recurring operating charges | 66A | - | €130 | +€130 | |
| Gross operating margin | 9900 | €34,581 | -€52,290 | -€86,871 | |
| Operating profit (loss) | 9901 | €9,708 | -€61,539 | -€71,247 | |
| Financial income | 75/76B | €16,797 | €969 | -€15,827 | -94.2% |
| Recurring financial income | 75 | €1,797 | €969 | -€827 | -46.0% |
| Non-recurring financial income | 76B | €15,000 | - | -€15,000 | |
| Financial charges | 65/66B | €24 | €54 | +€30 | +125.0% |
| Recurring financial charges | 65 | €24 | €54 | +€30 | +125.0% |
| Profit (loss) for the period before taxes | 9903 | €26,481 | -€60,623 | -€87,104 | |
| Income taxes | 67/77 | €6,234 | €159 | -€6,075 | -97.5% |
| Profit (loss) for the period | 9904 | €20,247 | -€60,782 | -€81,029 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,247 | -€60,782 | -€81,029 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.