JV&B: 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.
JV&B
Largest movements
- Current investments +€45,704
up €45,704 (+190.2%), from €24,032 to €69,736
- Receivables within one year -€30,518
down €30,518 (-85.7%), from €35,620 to €5,102
of which Trade receivables: -€31,324
- Debts after one year -€56,425
down €56,425 (-7.3%), from €776,310 to €719,885
- Reserves +€51,583
up €51,583 (+22.9%), from €225,356 to €276,939
- Depreciation -€73,174
down €73,174 (-79.4%), from €92,134 to €18,960
- Taxes +€17,341
up €17,341 (+13789.1%), from €126 to €17,467
- Financial charges +€14,260
up €14,260 (+72.5%), from €19,682 to €33,942
- Gross operating margin +€9,140
up €9,140 (+8.5%), from €107,261 to €116,401
- Financial income +€6,104
up €6,104 (+540155.8%), from €1 to €6,105
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 | €1,185,368 | €1,189,015 | +€3,647 | +0.3% |
| Fixed assets | 21/28 | €1,070,511 | €1,069,231 | -€1,280 | -0.1% |
| Tangible fixed assets | 22/27 | €674,011 | €672,731 | -€1,280 | -0.2% |
| Land and buildings | 22 | €670,389 | €652,484 | -€17,905 | -2.7% |
| Plant, machinery and equipment | 23 | €3,622 | €2,698 | -€924 | -25.5% |
| Furniture and vehicles | 24 | - | €17,549 | +€17,549 | |
| Financial fixed assets | 28 | €396,500 | €396,500 | = | 0.0% |
| Current assets | 29/58 | €114,857 | €119,784 | +€4,927 | +4.3% |
| Amounts receivable within one year | 40/41 | €35,620 | €5,102 | -€30,518 | -85.7% |
| Trade receivables | 40 | €35,616 | €4,292 | -€31,324 | -88.0% |
| Other amounts receivable | 41 | €5 | €811 | +€806 | +17605.0% |
| Current investments | 50/53 | €24,032 | €69,736 | +€45,704 | +190.2% |
| Cash at bank and in hand | 54/58 | €49,194 | €39,558 | -€9,636 | -19.6% |
| Deferred charges and accrued income | 490/1 | €6,010 | €5,387 | -€623 | -10.4% |
| Total equity and liabilities | 10/49 | €1,185,368 | €1,189,015 | +€3,647 | +0.3% |
| Equity | 10/15 | €243,906 | €295,489 | +€51,583 | +21.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €225,356 | €276,939 | +€51,583 | +22.9% |
| Distributable reserves | 133 | €225,356 | €276,939 | +€51,583 | +22.9% |
| Amounts payable | 17/49 | €941,462 | €893,526 | -€47,936 | -5.1% |
| Amounts payable after more than one year | 17 | €776,310 | €719,885 | -€56,425 | -7.3% |
| Financial debts | 170/4 | €776,310 | €719,885 | -€56,425 | -7.3% |
| Amounts payable within one year | 42/48 | €156,099 | €162,566 | +€6,466 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €55,930 | €56,893 | +€963 | +1.7% |
| Trade debts | 44 | €250 | €1,283 | +€1,033 | +413.8% |
| Suppliers | 440/4 | €250 | €1,283 | +€1,033 | +413.8% |
| Taxes, remuneration and social security | 45 | €12,310 | €8,894 | -€3,416 | -27.7% |
| Taxes | 450/3 | €9,410 | €8,894 | -€516 | -5.5% |
| Remuneration and social security | 454/9 | €2,900 | €0 | -€2,900 | -100.0% |
| Other amounts payable | 47/48 | €87,610 | €95,496 | +€7,886 | +9.0% |
| Accrued charges and deferred income | 492/3 | €9,053 | €11,075 | +€2,022 | +22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,134 | €18,960 | -€73,174 | -79.4% |
| Other operating charges | 640/8 | €1,933 | €554 | -€1,379 | -71.3% |
| Gross operating margin | 9900 | €107,261 | €116,401 | +€9,140 | +8.5% |
| Operating profit (loss) | 9901 | €13,194 | €96,887 | +€83,693 | +634.3% |
| Financial income | 75/76B | €1 | €6,105 | +€6,104 | +540155.8% |
| Recurring financial income | 75 | €1 | €6,105 | +€6,104 | +540155.8% |
| Financial charges | 65/66B | €19,682 | €33,942 | +€14,260 | +72.5% |
| Recurring financial charges | 65 | €19,682 | €33,942 | +€14,260 | +72.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,487 | €69,050 | +€75,537 | |
| Income taxes | 67/77 | €126 | €17,467 | +€17,341 | +13789.1% |
| Profit (loss) for the period | 9904 | -€6,613 | €51,583 | +€58,196 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,613 | €51,583 | +€58,196 |
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 4 October 2026 via checked.be.