JPV: 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.
JPV
Largest movements
- Receivables within one year +€28,285
up €28,285 (+81.9%), from €34,530 to €62,815
of which Trade receivables: +€19,453
- Receivables after one year -€14,416
no longer reported in 2025 (was €14,416)
- Reserves +€45,697
up €45,697 (+15.1%), from €302,503 to €348,200
of which Distributable reserves: +€45,697
- Debts after one year -€40,222
down €40,222 (-19.6%), from €205,094 to €164,873
- Trade debts +€15,076
up €15,076 (+137.1%), from €10,996 to €26,072
- Depreciation -€14,080
down €14,080 (-41.8%), from €33,706 to €19,626
- Financial charges -€8,365
down €8,365 (-68.3%), from €12,255 to €3,890
- Financial income +€3,107
new in 2025: €3,107
- Gross operating margin -€2,858
down €2,858 (-3.1%), from €93,210 to €90,352
- Taxes +€2,633
up €2,633 (+20.5%), from €12,838 to €15,471
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €686,200 | €700,881 | +€14,680 | +2.1% |
| Fixed assets | 21/28 | €589,602 | €594,975 | +€5,374 | +0.9% |
| Tangible fixed assets | 22/27 | €589,602 | €594,975 | +€5,374 | +0.9% |
| Land and buildings | 22 | €589,602 | €574,304 | -€15,297 | -2.6% |
| Furniture and vehicles | 24 | - | €20,671 | +€20,671 | |
| Current assets | 29/58 | €96,599 | €105,905 | +€9,306 | +9.6% |
| Amounts receivable after more than one year | 29 | €14,416 | - | -€14,416 | |
| Trade receivables | 290 | €14,416 | - | -€14,416 | |
| Amounts receivable within one year | 40/41 | €34,530 | €62,815 | +€28,285 | +81.9% |
| Trade receivables | 40 | - | €19,453 | +€19,453 | |
| Other amounts receivable | 41 | €34,530 | €43,362 | +€8,832 | +25.6% |
| Current investments | 50/53 | €47,652 | €43,090 | -€4,562 | -9.6% |
| Total equity and liabilities | 10/49 | €686,200 | €700,881 | +€14,680 | +2.1% |
| Equity | 10/15 | €412,503 | €458,200 | +€45,697 | +11.1% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €302,503 | €348,200 | +€45,697 | +15.1% |
| Non-distributable reserves | 130/1 | €11,000 | €11,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,000 | €11,000 | = | 0.0% |
| Distributable reserves | 133 | €291,503 | €337,200 | +€45,697 | +15.7% |
| Amounts payable | 17/49 | €273,697 | €242,680 | -€31,017 | -11.3% |
| Amounts payable after more than one year | 17 | €205,094 | €164,873 | -€40,222 | -19.6% |
| Financial debts | 170/4 | €205,094 | €164,873 | -€40,222 | -19.6% |
| Amounts payable within one year | 42/48 | €68,603 | €77,808 | +€9,205 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €45,107 | €42,000 | -€3,107 | -6.9% |
| Trade debts | 44 | €10,996 | €26,072 | +€15,076 | +137.1% |
| Suppliers | 440/4 | €10,996 | €26,072 | +€15,076 | +137.1% |
| Taxes, remuneration and social security | 45 | €12,500 | €9,736 | -€2,764 | -22.1% |
| Taxes | 450/3 | €12,500 | €9,736 | -€2,764 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,706 | €19,626 | -€14,080 | -41.8% |
| Other operating charges | 640/8 | €9,888 | €8,778 | -€1,110 | -11.2% |
| Gross operating margin | 9900 | €93,210 | €90,352 | -€2,858 | -3.1% |
| Operating profit (loss) | 9901 | €49,616 | €61,948 | +€12,332 | +24.9% |
| Financial income | 75/76B | - | €3,107 | +€3,107 | |
| Recurring financial income | 75 | - | €3,107 | +€3,107 | |
| Financial charges | 65/66B | €12,255 | €3,890 | -€8,365 | -68.3% |
| Recurring financial charges | 65 | €12,255 | €3,890 | -€8,365 | -68.3% |
| Profit (loss) for the period before taxes | 9903 | €37,361 | €61,165 | +€23,804 | +63.7% |
| Income taxes | 67/77 | €12,838 | €15,471 | +€2,633 | +20.5% |
| Profit (loss) for the period | 9904 | €24,523 | €45,695 | +€21,171 | +86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,523 | €45,695 | +€21,171 | +86.3% |
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 6 October 2026 via checked.be.