JVDM: what changed
JVDM
Largest movements
- Receivables within one year +€30,622
up €30,622 (+160%), from €19,188 to €49,810
of which Trade receivables: +€28,471
- Current investments -€9,426
down €9,426 (-37.2%), from €25,364 to €15,938
- Cash +€5,563
up €5,563 (+44.2%), from €12,579 to €18,142
mainly Net result for the year (+€26,420) and Tax, wage and social debts (+€9,675)
- Reserves +€17,168
up €17,168 (+50.1%), from €34,281 to €51,448
of which Distributable reserves: +€17,168
- Tax, wage and social debts +€9,675
up €9,675 (+181%), from €5,357 to €15,032
- Gross operating margin +€29,661
up €29,661 (+205%), from €14,501 to €44,161
- Taxes +€18,023
up €18,023 (+5,705%), from €316 to €18,339
- Financial income +€1,632
up €1,632 (+324%), from €503 to €2,135
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,312 | €86,894 | +€26,582 | +44.1% |
| Fixed assets | 21/28 | €167 | - | -€167 | |
| Tangible fixed assets | 22/27 | €167 | - | -€167 | |
| Plant, machinery and equipment | 23 | €167 | - | -€167 | |
| Current assets | 29/58 | €60,146 | €86,894 | +€26,749 | +44.5% |
| Amounts receivable within one year | 40/41 | €19,188 | €49,810 | +€30,622 | +160% |
| Trade receivables | 40 | €14,188 | €42,659 | +€28,471 | +201% |
| Other amounts receivable | 41 | €5,000 | €7,151 | +€2,151 | +43.0% |
| Current investments | 50/53 | €25,364 | €15,938 | -€9,426 | -37.2% |
| Cash at bank and in hand | 54/58 | €12,579 | €18,142 | +€5,563 | +44.2% |
| Deferred charges and accrued income | 490/1 | €3,014 | €3,004 | -€10 | -0.3% |
| Total equity and liabilities | 10/49 | €60,312 | €86,894 | +€26,582 | +44.1% |
| Equity | 10/15 | €52,881 | €70,048 | +€17,168 | +32.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,281 | €51,448 | +€17,168 | +50.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €32,421 | €49,588 | +€17,168 | +53.0% |
| Amounts payable | 17/49 | €7,432 | €16,846 | +€9,414 | +127% |
| Amounts payable within one year | 42/48 | €7,342 | €16,696 | +€9,354 | +127% |
| Trade debts | 44 | €1,985 | €1,663 | -€321 | -16.2% |
| Suppliers | 440/4 | €1,985 | €1,663 | -€321 | -16.2% |
| Taxes, remuneration and social security | 45 | €5,357 | €15,032 | +€9,675 | +181% |
| Taxes | 450/3 | €5,357 | €15,032 | +€9,675 | +181% |
| Accrued charges and deferred income | 492/3 | €90 | €150 | +€60 | +66.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200 | €167 | -€33 | -16.7% |
| Other operating charges | 640/8 | €488 | €419 | -€69 | -14.1% |
| Gross operating margin | 9900 | €14,501 | €44,161 | +€29,661 | +205% |
| Operating profit (loss) | 9901 | €13,813 | €43,576 | +€29,762 | +215% |
| Financial income | 75/76B | €503 | €2,135 | +€1,632 | +324% |
| Recurring financial income | 75 | €503 | €2,135 | +€1,632 | +324% |
| Financial charges | 65/66B | €1,143 | €952 | -€191 | -16.7% |
| Recurring financial charges | 65 | €1,143 | €952 | -€191 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €13,173 | €44,759 | +€31,586 | +240% |
| Income taxes | 67/77 | €316 | €18,339 | +€18,023 | +5,705% |
| Profit (loss) for the period | 9904 | €12,857 | €26,420 | +€13,563 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €12,857 | €26,420 | +€13,563 | +105% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.