JVD PROJECTS: 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.
JVD PROJECTS
Largest movements
- Tangible fixed assets +€22,362
up €22,362 (+13.7%), from €162,719 to €185,081
of which Leasing and similar rights: +€30,364
- Receivables within one year +€20,383
up €20,383 (+121.4%), from €16,790 to €37,173
of which Trade receivables: +€22,458
- Accrued charges and deferred income +€17,795
up €17,795 (+23265.0%), from €76 to €17,872
- Debts after one year +€16,649
up €16,649 (+18.6%), from €89,431 to €106,080
- Profit (loss) carried forward -€15,869
down €15,869 (-41.6%), from €38,132 to €22,263
- Other debts +€13,456
up €13,456 (+59.2%), from €22,715 to €36,171
- Current portion of long-term debt +€6,055
up €6,055 (+18.1%), from €33,420 to €39,475
- Gross operating margin -€21,049
down €21,049 (-33.0%), from €63,743 to €42,694
- Depreciation +€3,858
up €3,858 (+7.9%), from €48,699 to €52,556
- Staff costs -€3,578
no longer reported in 2025 (was €3,578)
- Financial charges -€643
down €643 (-11.4%), from €5,626 to €4,983
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 | €197,424 | €242,915 | +€45,491 | +23.0% |
| Fixed assets | 21/28 | €162,719 | €185,081 | +€22,362 | +13.7% |
| Tangible fixed assets | 22/27 | €162,719 | €185,081 | +€22,362 | +13.7% |
| Plant, machinery and equipment | 23 | €16,350 | €14,407 | -€1,942 | -11.9% |
| Furniture and vehicles | 24 | €13,753 | €7,694 | -€6,059 | -44.1% |
| Leasing and similar rights | 25 | €132,616 | €162,980 | +€30,364 | +22.9% |
| Current assets | 29/58 | €34,705 | €57,834 | +€23,129 | +66.6% |
| Stocks and contracts in progress | 3 | €12,403 | €12,450 | +€47 | +0.4% |
| Contracts in progress | 37 | €12,403 | €12,450 | +€47 | +0.4% |
| Amounts receivable within one year | 40/41 | €16,790 | €37,173 | +€20,383 | +121.4% |
| Trade receivables | 40 | €10,000 | €32,459 | +€22,458 | +224.6% |
| Other amounts receivable | 41 | €6,790 | €4,714 | -€2,076 | -30.6% |
| Cash at bank and in hand | 54/58 | €1,951 | €2,372 | +€421 | +21.6% |
| Deferred charges and accrued income | 490/1 | €3,562 | €5,839 | +€2,277 | +63.9% |
| Total equity and liabilities | 10/49 | €197,424 | €242,915 | +€45,491 | +23.0% |
| Equity | 10/15 | €40,382 | €24,513 | -€15,869 | -39.3% |
| Contributions | 10/11 | €2,250 | €2,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,132 | €22,263 | -€15,869 | -41.6% |
| Amounts payable | 17/49 | €157,042 | €218,402 | +€61,360 | +39.1% |
| Amounts payable after more than one year | 17 | €89,431 | €106,080 | +€16,649 | +18.6% |
| Financial debts | 170/4 | €89,431 | €106,080 | +€16,649 | +18.6% |
| Amounts payable within one year | 42/48 | €67,535 | €94,450 | +€26,915 | +39.9% |
| Current portion of amounts payable after more than one year | 42 | €33,420 | €39,475 | +€6,055 | +18.1% |
| Trade debts | 44 | €6,843 | €9,691 | +€2,848 | +41.6% |
| Suppliers | 440/4 | €6,843 | €9,691 | +€2,848 | +41.6% |
| Taxes, remuneration and social security | 45 | €4,556 | €9,113 | +€4,556 | +100.0% |
| Remuneration and social security | 454/9 | €4,556 | €9,113 | +€4,556 | +100.0% |
| Other amounts payable | 47/48 | €22,715 | €36,171 | +€13,456 | +59.2% |
| Accrued charges and deferred income | 492/3 | €76 | €17,872 | +€17,795 | +23265.0% |
| Remuneration, social security and pensions | 62 | €3,578 | - | -€3,578 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,699 | €52,556 | +€3,858 | +7.9% |
| Other operating charges | 640/8 | €993 | €1,149 | +€156 | +15.7% |
| Gross operating margin | 9900 | €63,743 | €42,694 | -€21,049 | -33.0% |
| Operating profit (loss) | 9901 | €10,473 | -€11,012 | -€21,484 | |
| Financial income | 75/76B | €106 | €126 | +€20 | +18.5% |
| Recurring financial income | 75 | €106 | €126 | +€20 | +18.5% |
| Financial charges | 65/66B | €5,626 | €4,983 | -€643 | -11.4% |
| Recurring financial charges | 65 | €5,626 | €4,983 | -€643 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €4,953 | -€15,869 | -€20,822 | |
| Profit (loss) for the period | 9904 | €4,953 | -€15,869 | -€20,822 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,953 | -€15,869 | -€20,822 |
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 10 October 2026 via checked.be.