JVDB Management: 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.
JVDB Management
Largest movements
- Financial fixed assets +€17,000
up €17,000 (+2.4%), from €715,966 to €732,966
- Debts after one year +€119,803
up €119,803 (+88.8%), from €134,943 to €254,746
- Other debts -€105,745
down €105,745 (-23.8%), from €443,508 to €337,763
- Profit (loss) carried forward -€12,983
no longer reported in 2025 (was €12,983)
- Gross operating margin +€21,681
up €21,681 (+23.3%), from €93,220 to €114,901
- Financial income -€9,540
down €9,540 (-36.1%), from €26,449 to €16,909
- Financial charges +€8,877
up €8,877 (+62.4%), from €14,221 to €23,098
- Taxes +€7,669
up €7,669 (+52.7%), from €14,550 to €22,220
- Other operating charges +€5,241
up €5,241 (+381%), from €1,377 to €6,618
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 | €796,542 | €802,113 | +€5,571 | +0.7% |
| Fixed assets | 21/28 | €716,406 | €734,851 | +€18,446 | +2.6% |
| Tangible fixed assets | 22/27 | €440 | €1,886 | +€1,446 | +328% |
| Furniture and vehicles | 24 | €440 | €1,886 | +€1,446 | +328% |
| Financial fixed assets | 28 | €715,966 | €732,966 | +€17,000 | +2.4% |
| Current assets | 29/58 | €80,136 | €67,262 | -€12,874 | -16.1% |
| Amounts receivable within one year | 40/41 | €28,099 | €27,588 | -€511 | -1.8% |
| Trade receivables | 40 | €28,099 | €27,588 | -€511 | -1.8% |
| Current investments | 50/53 | €20,355 | €20,355 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,389 | €9,645 | -€6,744 | -41.1% |
| Deferred charges and accrued income | 490/1 | €15,293 | €9,674 | -€5,619 | -36.7% |
| Total equity and liabilities | 10/49 | €796,542 | €802,113 | +€5,571 | +0.7% |
| Equity | 10/15 | €132,877 | €119,894 | -€12,983 | -9.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €89,894 | €89,894 | = | 0.0% |
| Distributable reserves | 133 | €89,894 | €89,894 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,983 | - | -€12,983 | |
| Amounts payable | 17/49 | €663,665 | €682,219 | +€18,555 | +2.8% |
| Amounts payable after more than one year | 17 | €134,943 | €254,746 | +€119,803 | +88.8% |
| Financial debts | 170/4 | €134,943 | €254,746 | +€119,803 | +88.8% |
| Amounts payable within one year | 42/48 | €527,516 | €426,472 | -€101,044 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €66,483 | €61,341 | -€5,143 | -7.7% |
| Financial debts | 43 | €916 | €696 | -€220 | -24.0% |
| Credit institutions | 430/8 | €916 | €696 | -€220 | -24.0% |
| Trade debts | 44 | - | €5,419 | +€5,419 | |
| Suppliers | 440/4 | - | €5,419 | +€5,419 | |
| Taxes, remuneration and social security | 45 | €16,609 | €21,254 | +€4,646 | +28.0% |
| Taxes | 450/3 | €16,609 | €21,254 | +€4,646 | +28.0% |
| Other amounts payable | 47/48 | €443,508 | €337,763 | -€105,745 | -23.8% |
| Accrued charges and deferred income | 492/3 | €1,206 | €1,001 | -€205 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49 | €370 | +€321 | +661% |
| Other operating charges | 640/8 | €1,377 | €6,618 | +€5,241 | +381% |
| Gross operating margin | 9900 | €93,220 | €114,901 | +€21,681 | +23.3% |
| Operating profit (loss) | 9901 | €91,795 | €107,913 | +€16,118 | +17.6% |
| Financial income | 75/76B | €26,449 | €16,909 | -€9,540 | -36.1% |
| Recurring financial income | 75 | €26,449 | €16,909 | -€9,540 | -36.1% |
| Financial charges | 65/66B | €14,221 | €23,098 | +€8,877 | +62.4% |
| Recurring financial charges | 65 | €14,221 | €23,098 | +€8,877 | +62.4% |
| Profit (loss) for the period before taxes | 9903 | €104,023 | €101,724 | -€2,298 | -2.2% |
| Income taxes | 67/77 | €14,550 | €22,220 | +€7,669 | +52.7% |
| Profit (loss) for the period | 9904 | €89,472 | €79,505 | -€9,968 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €89,472 | €79,505 | -€9,968 | -11.1% |
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 13 October 2026 via checked.be.