JVB Montage: 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 Montage
Largest movements
- Tangible fixed assets +€31,117
up €31,117 (+57.8%), from €53,795 to €84,912
of which Plant, machinery and equipment: +€18,427
- Cash -€20,258
down €20,258 (-26.2%), from €77,215 to €56,957
mainly Investment in fixed assets (net) (-€50,017) and Receivables within one year (-€13,262)
- Receivables within one year +€13,262
up €13,262 (+75.0%), from €17,693 to €30,956
- Deferred charges and accrued income +€8,376
up €8,376 (+3,003%), from €279 to €8,655
- Stocks and contracts -€7,387
down €7,387 (-100%), from €7,387 to €0
- Reserves +€29,314
up €29,314 (+42.2%), from €69,447 to €98,761
- Tax, wage and social debts +€9,333
up €9,333 (+84.9%), from €10,988 to €20,321
- Debts after one year -€8,339
down €8,339 (-32.9%), from €25,362 to €17,023
- Trade debts -€3,791
down €3,791 (-23.4%), from €16,197 to €12,406
- Other debts -€1,893
down €1,893 (-9.4%), from €20,120 to €18,227
- Depreciation +€12,204
up €12,204 (+182%), from €6,695 to €18,899
- Gross operating margin +€4,650
up €4,650 (+8.3%), from €56,221 to €60,871
- Taxes -€2,173
down €2,173 (-22.2%), from €9,811 to €7,637
- Financial charges +€1,195
up €1,195 (+77.1%), from €1,550 to €2,745
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 | €156,369 | €181,479 | +€25,111 | +16.1% |
| Fixed assets | 21/28 | €53,795 | €84,912 | +€31,117 | +57.8% |
| Tangible fixed assets | 22/27 | €53,795 | €84,912 | +€31,117 | +57.8% |
| Plant, machinery and equipment | 23 | €7,285 | €25,712 | +€18,427 | +253% |
| Furniture and vehicles | 24 | €46,510 | €49,365 | +€2,855 | +6.1% |
| Other tangible fixed assets | 26 | - | €9,835 | +€9,835 | |
| Current assets | 29/58 | €102,574 | €96,567 | -€6,007 | -5.9% |
| Stocks and contracts in progress | 3 | €7,387 | €0 | -€7,387 | -100% |
| Stocks | 30/36 | €7,387 | €0 | -€7,387 | -100% |
| Amounts receivable within one year | 40/41 | €17,693 | €30,956 | +€13,262 | +75.0% |
| Trade receivables | 40 | €17,693 | €30,956 | +€13,262 | +75.0% |
| Cash at bank and in hand | 54/58 | €77,215 | €56,957 | -€20,258 | -26.2% |
| Deferred charges and accrued income | 490/1 | €279 | €8,655 | +€8,376 | +3,003% |
| Total equity and liabilities | 10/49 | €156,369 | €181,479 | +€25,111 | +16.1% |
| Equity | 10/15 | €74,447 | €103,761 | +€29,314 | +39.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €69,447 | €98,761 | +€29,314 | +42.2% |
| Distributable reserves | 133 | €69,447 | €98,761 | +€29,314 | +42.2% |
| Amounts payable | 17/49 | €81,921 | €77,718 | -€4,203 | -5.1% |
| Amounts payable after more than one year | 17 | €25,362 | €17,023 | -€8,339 | -32.9% |
| Financial debts | 170/4 | €25,362 | €17,023 | -€8,339 | -32.9% |
| Amounts payable within one year | 42/48 | €55,293 | €59,294 | +€4,001 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €7,988 | €8,339 | +€351 | +4.4% |
| Trade debts | 44 | €16,197 | €12,406 | -€3,791 | -23.4% |
| Suppliers | 440/4 | €16,197 | €12,406 | -€3,791 | -23.4% |
| Taxes, remuneration and social security | 45 | €10,988 | €20,321 | +€9,333 | +84.9% |
| Taxes | 450/3 | €10,988 | €20,321 | +€9,333 | +84.9% |
| Other amounts payable | 47/48 | €20,120 | €18,227 | -€1,893 | -9.4% |
| Accrued charges and deferred income | 492/3 | €1,266 | €1,402 | +€135 | +10.7% |
| Non-recurring operating income | 76A | - | €1,635 | +€1,635 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,695 | €18,899 | +€12,204 | +182% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €525 | +€525 | |
| Other operating charges | 640/8 | €1,862 | €2,154 | +€292 | +15.7% |
| Non-recurring operating charges | 66A | €415 | €0 | -€415 | -100% |
| Gross operating margin | 9900 | €56,221 | €60,871 | +€4,650 | +8.3% |
| Operating profit (loss) | 9901 | €47,249 | €39,293 | -€7,956 | -16.8% |
| Financial income | 75/76B | €92 | €403 | +€312 | +340% |
| Recurring financial income | 75 | €92 | €403 | +€312 | +340% |
| Financial charges | 65/66B | €1,550 | €2,745 | +€1,195 | +77.1% |
| Recurring financial charges | 65 | €1,550 | €2,745 | +€1,195 | +77.1% |
| Profit (loss) for the period before taxes | 9903 | €45,791 | €36,951 | -€8,840 | -19.3% |
| Income taxes | 67/77 | €9,811 | €7,637 | -€2,173 | -22.2% |
| Profit (loss) for the period | 9904 | €35,980 | €29,314 | -€6,666 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,980 | €29,314 | -€6,666 | -18.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.