JVBG: 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.
JVBG
Largest movements
- Cash -€22,586
down €22,586 (-49.0%), from €46,137 to €23,551
mainly Receivables within one year (-€13,273) and Investment in fixed assets (net) (-€12,220)
- Receivables within one year +€13,273
up €13,273 (+30.9%), from €43,021 to €56,294
of which Trade receivables: +€10,171
- Financial fixed assets +€12,220
up €12,220 (+10.7%), from €113,956 to €126,176
- Tangible fixed assets -€11,861
down €11,861 (-33.4%), from €35,517 to €23,656
of which Furniture and vehicles: -€9,897
- Profit (loss) carried forward -€11,643
down €11,643 (-8.7%), from €133,639 to €121,996
- Debts after one year -€11,496
down €11,496 (-15.5%), from €74,338 to €62,842
- Trade debts +€9,457
up €9,457 (+143.9%), from €6,573 to €16,030
- Tax, wage and social debts +€7,535
up €7,535 (+68.7%), from €10,964 to €18,499
of which Taxes: +€6,772
- Other debts -€4,073
no longer reported in 2025 (was €4,073)
- Gross operating margin -€38,579
down €38,579, from €37,889 to -€690
- Purchases and services +€25,286
up €25,286 (+27.8%), from €90,826 to €116,112
- Taxes -€8,575
down €8,575 (-98.0%), from €8,747 to €172
- Financial charges +€2,599
up €2,599 (+472.5%), from €550 to €3,149
of which Financial charges: +€2,479
- Financial income +€1,361
up €1,361 (+36.2%), from €3,758 to €5,119
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 | €352,131 | €342,366 | -€9,765 | -2.8% |
| Fixed assets | 21/28 | €149,473 | €149,832 | +€359 | +0.2% |
| Tangible fixed assets | 22/27 | €35,517 | €23,656 | -€11,861 | -33.4% |
| Furniture and vehicles | 24 | €20,675 | €10,778 | -€9,897 | -47.9% |
| Other tangible fixed assets | 26 | €14,842 | €12,878 | -€1,964 | -13.2% |
| Financial fixed assets | 28 | €113,956 | €126,176 | +€12,220 | +10.7% |
| Current assets | 29/58 | €202,658 | €192,534 | -€10,124 | -5.0% |
| Amounts receivable after more than one year | 29 | €112,500 | €112,500 | = | 0.0% |
| Other amounts receivable | 291 | €112,500 | €112,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €43,021 | €56,294 | +€13,273 | +30.9% |
| Trade receivables | 40 | €37,021 | €47,192 | +€10,171 | +27.5% |
| Other amounts receivable | 41 | €6,000 | €9,102 | +€3,102 | +51.7% |
| Current investments | 50/53 | €1,000 | €189 | -€811 | -81.1% |
| Cash at bank and in hand | 54/58 | €46,137 | €23,551 | -€22,586 | -49.0% |
| Total equity and liabilities | 10/49 | €352,131 | €342,366 | -€9,765 | -2.8% |
| Equity | 10/15 | €245,021 | €233,378 | -€11,643 | -4.8% |
| Contributions | 10/11 | €7,600 | €7,600 | = | 0.0% |
| Reserves | 13 | €103,782 | €103,782 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,093 | €8,093 | = | 0.0% |
| Distributable reserves | 133 | €95,689 | €95,689 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,639 | €121,996 | -€11,643 | -8.7% |
| Amounts payable | 17/49 | €107,110 | €108,988 | +€1,878 | +1.8% |
| Amounts payable after more than one year | 17 | €74,338 | €62,842 | -€11,496 | -15.5% |
| Financial debts | 170/4 | €74,338 | €62,842 | -€11,496 | -15.5% |
| Amounts payable within one year | 42/48 | €32,772 | €46,146 | +€13,374 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | €11,162 | €11,617 | +€455 | +4.1% |
| Trade debts | 44 | €6,573 | €16,030 | +€9,457 | +143.9% |
| Suppliers | 440/4 | €6,573 | €16,030 | +€9,457 | +143.9% |
| Taxes, remuneration and social security | 45 | €10,964 | €18,499 | +€7,535 | +68.7% |
| Taxes | 450/3 | €10,697 | €17,469 | +€6,772 | +63.3% |
| Remuneration and social security | 454/9 | €267 | €1,030 | +€763 | +285.8% |
| Other amounts payable | 47/48 | €4,073 | - | -€4,073 | |
| Goods, raw materials, services and sundry goods | 60/61 | €90,826 | €116,112 | +€25,286 | +27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,726 | €11,861 | +€135 | +1.2% |
| Other operating charges | 640/8 | €387 | €400 | +€13 | +3.4% |
| Non-recurring operating charges | 66A | - | €490 | +€490 | |
| Gross operating margin | 9900 | €37,889 | -€690 | -€38,579 | |
| Operating profit (loss) | 9901 | €25,776 | -€13,441 | -€39,217 | |
| Financial income | 75/76B | €3,758 | €5,119 | +€1,361 | +36.2% |
| Recurring financial income | 75 | €3,758 | €5,119 | +€1,361 | +36.2% |
| Financial charges | 65/66B | €550 | €3,149 | +€2,599 | +472.5% |
| Recurring financial charges | 65 | €450 | €2,929 | +€2,479 | +550.9% |
| Non-recurring financial charges | 66B | €100 | €220 | +€120 | +120.0% |
| Profit (loss) for the period before taxes | 9903 | €28,984 | -€11,471 | -€40,455 | |
| Income taxes | 67/77 | €8,747 | €172 | -€8,575 | -98.0% |
| Profit (loss) for the period | 9904 | €20,237 | -€11,643 | -€31,880 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,237 | -€11,643 | -€31,880 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.