JV1: what changed
JV1
Largest movements
- Cash -€46,446
down €46,446 (-78.7%), from €58,985 to €12,539
mainly Debts after one year (-€73,626) and Trade debts (-€26,008)
- Tangible fixed assets -€44,322
down €44,322 (-2.3%), from €1.9m to €1.9m
of which Land and buildings: -€44,322
- Debts after one year -€73,626
down €73,626 (-4.0%), from €1.9m to €1.8m
- Trade debts -€26,008
down €26,008 (-93.8%), from €27,726 to €1,718
- Gross operating margin +€50,411
up €50,411 (+53.6%), from €93,973 to €144,384
- Depreciation +€5,792
up €5,792 (+9.8%), from €58,810 to €64,602
- Financial charges +€4,242
up €4,242 (+6.1%), from €69,605 to €73,847
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,983,439 | €1,892,671 | -€90,768 | -4.6% |
| Fixed assets | 21/28 | €1,923,518 | €1,879,195 | -€44,322 | -2.3% |
| Tangible fixed assets | 22/27 | €1,923,518 | €1,879,195 | -€44,322 | -2.3% |
| Land and buildings | 22 | €1,837,685 | €1,793,363 | -€44,322 | -2.4% |
| Assets under construction and advance payments | 27 | €85,833 | €85,833 | = | 0.0% |
| Current assets | 29/58 | €59,921 | €13,476 | -€46,446 | -77.5% |
| Amounts receivable within one year | 40/41 | €937 | €937 | = | 0.0% |
| Other amounts receivable | 41 | €937 | €937 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €58,985 | €12,539 | -€46,446 | -78.7% |
| Total equity and liabilities | 10/49 | €1,983,439 | €1,892,671 | -€90,768 | -4.6% |
| Equity | 10/15 | -€128,249 | -€122,314 | +€5,935 | +4.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€130,249 | -€124,314 | +€5,935 | +4.6% |
| Amounts payable | 17/49 | €2,111,689 | €2,014,985 | -€96,704 | -4.6% |
| Amounts payable after more than one year | 17 | €1,853,079 | €1,779,453 | -€73,626 | -4.0% |
| Financial debts | 170/4 | €1,853,079 | €1,779,453 | -€73,626 | -4.0% |
| Amounts payable within one year | 42/48 | €255,609 | €232,638 | -€22,971 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €76,596 | €79,633 | +€3,037 | +4.0% |
| Trade debts | 44 | €27,726 | €1,718 | -€26,008 | -93.8% |
| Suppliers | 440/4 | €27,726 | €1,718 | -€26,008 | -93.8% |
| Taxes, remuneration and social security | 45 | €86,287 | €86,287 | = | 0.0% |
| Taxes | 450/3 | €86,287 | €86,287 | = | 0.0% |
| Other amounts payable | 47/48 | €65,000 | €65,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,001 | €2,894 | -€107 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,810 | €64,602 | +€5,792 | +9.8% |
| Gross operating margin | 9900 | €93,973 | €144,384 | +€50,411 | +53.6% |
| Operating profit (loss) | 9901 | €35,163 | €79,782 | +€44,619 | +127% |
| Financial income | 75/76B | €1 | €0 | -€1 | -90.6% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -90.6% |
| Financial charges | 65/66B | €69,605 | €73,847 | +€4,242 | +6.1% |
| Recurring financial charges | 65 | €69,605 | €73,847 | +€4,242 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | -€34,441 | €5,935 | +€40,376 | |
| Profit (loss) for the period | 9904 | -€34,441 | €5,935 | +€40,376 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,441 | €5,935 | +€40,376 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.