JVB Holding: 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.
JVB Holding
Largest movements
- Tangible fixed assets +€99,916
up €99,916 (+109%), from €91,364 to €191,281
of which Leasing and similar rights: +€116,330
- Cash -€69,702
down €69,702 (-27.8%), from €250,345 to €180,643
mainly Investment in fixed assets (net) (-€201,210) and Receivables within one year (-€22,237)
- Financial fixed assets +€66,482
up €66,482 (+17.7%), from €376,001 to €442,483
- Receivables within one year +€22,237
up €22,237 (+763%), from €2,915 to €25,152
of which Trade receivables: +€13,284
- Current investments -€15,000
down €15,000 (-100%), from €15,000 to €0
- Reserves +€46,000
up €46,000 (+7.8%), from €587,000 to €633,000
- Debts after one year +€42,721
up €42,721 (+67.7%), from €63,060 to €105,781
- Current portion of long-term debt +€22,467
up €22,467 (+44.8%), from €50,180 to €72,648
- Financial income -€80,947
down €80,947 (-60.9%), from €132,927 to €51,980
- Depreciation +€9,812
up €9,812 (+39.2%), from €25,000 to €34,812
- Staff costs +€9,226
new in 2026: €9,226
- Gross operating margin +€8,079
up €8,079 (+10.6%), from €76,490 to €84,569
- Financial charges +€2,770
up €2,770 (+52.9%), from €5,236 to €8,006
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €737,377 | €843,459 | +€106,082 | +14.4% |
| Fixed assets | 21/28 | €467,365 | €633,764 | +€166,398 | +35.6% |
| Tangible fixed assets | 22/27 | €91,364 | €191,281 | +€99,916 | +109% |
| Plant, machinery and equipment | 23 | - | €5,248 | +€5,248 | |
| Furniture and vehicles | 24 | €91,364 | €69,702 | -€21,662 | -23.7% |
| Leasing and similar rights | 25 | - | €116,330 | +€116,330 | |
| Financial fixed assets | 28 | €376,001 | €442,483 | +€66,482 | +17.7% |
| Current assets | 29/58 | €270,012 | €209,695 | -€60,317 | -22.3% |
| Amounts receivable within one year | 40/41 | €2,915 | €25,152 | +€22,237 | +763% |
| Trade receivables | 40 | - | €13,284 | +€13,284 | |
| Other amounts receivable | 41 | €2,915 | €11,868 | +€8,953 | +307% |
| Current investments | 50/53 | €15,000 | €0 | -€15,000 | -100% |
| Cash at bank and in hand | 54/58 | €250,345 | €180,643 | -€69,702 | -27.8% |
| Deferred charges and accrued income | 490/1 | €1,752 | €3,900 | +€2,148 | +123% |
| Total equity and liabilities | 10/49 | €737,377 | €843,459 | +€106,082 | +14.4% |
| Equity | 10/15 | €606,172 | €652,357 | +€46,185 | +7.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €587,000 | €633,000 | +€46,000 | +7.8% |
| Distributable reserves | 133 | €587,000 | €633,000 | +€46,000 | +7.8% |
| Profit (loss) carried forward | 14 | €572 | €757 | +€185 | +32.4% |
| Amounts payable | 17/49 | €131,206 | €191,102 | +€59,897 | +45.7% |
| Amounts payable after more than one year | 17 | €63,060 | €105,781 | +€42,721 | +67.7% |
| Financial debts | 170/4 | €63,060 | €105,781 | +€42,721 | +67.7% |
| Amounts payable within one year | 42/48 | €68,146 | €85,321 | +€17,175 | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €50,180 | €72,648 | +€22,467 | +44.8% |
| Financial debts | 43 | €6,208 | €2,900 | -€3,308 | -53.3% |
| Credit institutions | 430/8 | €6,208 | €2,900 | -€3,308 | -53.3% |
| Trade debts | 44 | €6,890 | €5,693 | -€1,197 | -17.4% |
| Suppliers | 440/4 | €6,890 | €5,693 | -€1,197 | -17.4% |
| Taxes, remuneration and social security | 45 | €2,841 | €2,106 | -€735 | -25.9% |
| Taxes | 450/3 | €2,841 | €0 | -€2,841 | -100% |
| Remuneration and social security | 454/9 | - | €2,106 | +€2,106 | |
| Other amounts payable | 47/48 | €2,026 | €1,974 | -€52 | -2.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €9,226 | +€9,226 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,000 | €34,812 | +€9,812 | +39.2% |
| Other operating charges | 640/8 | €676 | €2,149 | +€1,473 | +218% |
| Non-recurring operating charges | 66A | - | €31,364 | +€31,364 | |
| Gross operating margin | 9900 | €76,490 | €84,569 | +€8,079 | +10.6% |
| Operating profit (loss) | 9901 | €50,814 | €7,018 | -€43,796 | -86.2% |
| Financial income | 75/76B | €132,927 | €51,980 | -€80,947 | -60.9% |
| Recurring financial income | 75 | €132,927 | €51,980 | -€80,947 | -60.9% |
| Financial charges | 65/66B | €5,236 | €8,006 | +€2,770 | +52.9% |
| Recurring financial charges | 65 | €5,236 | €8,006 | +€2,770 | +52.9% |
| Profit (loss) for the period before taxes | 9903 | €178,505 | €50,993 | -€127,513 | -71.4% |
| Income taxes | 67/77 | €5,335 | €3,141 | -€2,194 | -41.1% |
| Profit (loss) for the period | 9904 | €173,170 | €47,851 | -€125,319 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €173,170 | €47,851 | -€125,319 | -72.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.