JV-HOLD: 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.
JV-HOLD
Largest movements
- Financial fixed assets +€343,000
up €343,000 (+6.7%), from €5.1m to €5.5m
- Current investments -€320,000
down €320,000 (-49.2%), from €650,000 to €330,000
- Contributions -€186,649
down €186,649 (-12.8%), from €1.5m to €1.3m
- Reserves +€113,661
up €113,661 (+2.6%), from €4.3m to €4.5m
of which Distributable reserves: +€132,326
- Financial income +€439,132
up €439,132 (+203%), from €216,693 to €655,825
of which Non-recurring financial income: +€343,000
- Financial charges +€31,727
up €31,727 (+11,103%), from €286 to €32,013
- Taxes +€29,642
up €29,642 (+111%), from €26,616 to €56,257
- Gross operating margin -€128
down €128 (-1.2%), from €10,709 to €10,581
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 | €5,810,774 | €5,800,486 | -€10,288 | -0.2% |
| Fixed assets | 21/28 | €5,116,522 | €5,459,522 | +€343,000 | +6.7% |
| Financial fixed assets | 28 | €5,116,522 | €5,459,522 | +€343,000 | +6.7% |
| Current assets | 29/58 | €694,252 | €340,964 | -€353,288 | -50.9% |
| Amounts receivable within one year | 40/41 | €40 | €6 | -€34 | -84.8% |
| Other amounts receivable | 41 | €40 | €6 | -€34 | -84.8% |
| Current investments | 50/53 | €650,000 | €330,000 | -€320,000 | -49.2% |
| Cash at bank and in hand | 54/58 | €43,911 | €10,518 | -€33,393 | -76.0% |
| Deferred charges and accrued income | 490/1 | €300 | €439 | +€139 | +46.4% |
| Total equity and liabilities | 10/49 | €5,810,774 | €5,800,486 | -€10,288 | -0.2% |
| Equity | 10/15 | €5,792,807 | €5,719,818 | -€72,989 | -1.3% |
| Contributions | 10/11 | €1,455,699 | €1,269,049 | -€186,649 | -12.8% |
| Capital | 10 | €1,455,699 | €1,269,049 | -€186,649 | -12.8% |
| Issued capital | 100 | €1,455,699 | €1,269,049 | -€186,649 | -12.8% |
| Reserves | 13 | €4,337,108 | €4,450,769 | +€113,661 | +2.6% |
| Non-distributable reserves | 130/1 | €145,570 | €126,905 | -€18,665 | -12.8% |
| Legal reserve | 130 | €145,570 | €126,905 | -€18,665 | -12.8% |
| Distributable reserves | 133 | €4,191,538 | €4,323,864 | +€132,326 | +3.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €17,968 | €80,668 | +€62,700 | +349% |
| Amounts payable within one year | 42/48 | €17,000 | €79,669 | +€62,669 | +369% |
| Taxes, remuneration and social security | 45 | €17,000 | €48,000 | +€31,000 | +182% |
| Taxes | 450/3 | €17,000 | €48,000 | +€31,000 | +182% |
| Other amounts payable | 47/48 | - | €31,669 | +€31,669 | |
| Accrued charges and deferred income | 492/3 | €968 | €998 | +€31 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,175 | €1,124 | -€50 | -4.3% |
| Gross operating margin | 9900 | €10,709 | €10,581 | -€128 | -1.2% |
| Operating profit (loss) | 9901 | €9,534 | €9,457 | -€77 | -0.8% |
| Financial income | 75/76B | €216,693 | €655,825 | +€439,132 | +203% |
| Recurring financial income | 75 | €216,693 | €312,825 | +€96,132 | +44.4% |
| Non-recurring financial income | 76B | - | €343,000 | +€343,000 | |
| Financial charges | 65/66B | €286 | €32,013 | +€31,727 | +11,103% |
| Recurring financial charges | 65 | €286 | €32,013 | +€31,727 | +11,103% |
| Profit (loss) for the period before taxes | 9903 | €225,941 | €633,269 | +€407,328 | +180% |
| Income taxes | 67/77 | €26,616 | €56,257 | +€29,642 | +111% |
| Profit (loss) for the period | 9904 | €199,325 | €577,011 | +€377,686 | +189% |
| Profit (loss) for the period to be appropriated | 9905 | €199,325 | €577,011 | +€377,686 | +189% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.