JVDMANAGEMENT: 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.
JVDMANAGEMENT
Largest movements
- Cash -€18,960
down €18,960 (-81.3%), from €23,328 to €4,368
mainly Contributions, distributions and other (-€112,169) and Trade debts (-€9,866)
- Receivables within one year -€12,243
down €12,243 (-4.9%), from €251,804 to €239,560
of which Trade receivables: -€13,091
- Reserves -€54,032
down €54,032 (-15.8%), from €341,201 to €287,169
- Tax, wage and social debts +€36,815
up €36,815 (+77.4%), from €47,570 to €84,386
of which Taxes: +€36,815
- Trade debts -€9,866
down €9,866 (-61.6%), from €16,007 to €6,141
- Debts after one year -€4,094
down €4,094 (-38.5%), from €10,647 to €6,553
- Gross operating margin -€36,899
down €36,899 (-31.0%), from €119,222 to €82,323
- Taxes -€9,307
down €9,307 (-21.2%), from €43,839 to €34,532
- Financial charges -€1,771
down €1,771 (-59.1%), from €2,993 to €1,223
- Financial income +€1,715
up €1,715 (+13.4%), from €12,791 to €14,506
- Other operating charges -€1,358
down €1,358 (-56.3%), from €2,409 to €1,052
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 | €298,958 | €268,420 | -€30,538 | -10.2% |
| Fixed assets | 21/28 | €10,346 | €8,303 | -€2,044 | -19.8% |
| Tangible fixed assets | 22/27 | €10,188 | €8,303 | -€1,886 | -18.5% |
| Plant, machinery and equipment | 23 | €67 | €0 | -€67 | -100.0% |
| Furniture and vehicles | 24 | €703 | €272 | -€432 | -61.4% |
| Other tangible fixed assets | 26 | €9,418 | €8,031 | -€1,387 | -14.7% |
| Financial fixed assets | 28 | €158 | €0 | -€158 | -100.0% |
| Current assets | 29/58 | €288,612 | €260,118 | -€28,494 | -9.9% |
| Amounts receivable within one year | 40/41 | €251,804 | €239,560 | -€12,243 | -4.9% |
| Trade receivables | 40 | €21,841 | €8,750 | -€13,091 | -59.9% |
| Other amounts receivable | 41 | €229,963 | €230,810 | +€847 | +0.4% |
| Cash at bank and in hand | 54/58 | €23,328 | €4,368 | -€18,960 | -81.3% |
| Deferred charges and accrued income | 490/1 | €13,480 | €16,190 | +€2,709 | +20.1% |
| Total equity and liabilities | 10/49 | €298,958 | €268,420 | -€30,538 | -10.2% |
| Equity | 10/15 | €220,835 | €166,803 | -€54,032 | -24.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €341,201 | €287,169 | -€54,032 | -15.8% |
| Distributable reserves | 133 | €341,201 | €287,169 | -€54,032 | -15.8% |
| Profit (loss) carried forward | 14 | -€138,966 | -€138,966 | = | 0.0% |
| Amounts payable | 17/49 | €78,123 | €101,617 | +€23,494 | +30.1% |
| Amounts payable after more than one year | 17 | €10,647 | €6,553 | -€4,094 | -38.5% |
| Financial debts | 170/4 | €10,647 | €6,553 | -€4,094 | -38.5% |
| Amounts payable within one year | 42/48 | €67,465 | €95,064 | +€27,599 | +40.9% |
| Current portion of amounts payable after more than one year | 42 | €3,887 | €4,538 | +€650 | +16.7% |
| Trade debts | 44 | €16,007 | €6,141 | -€9,866 | -61.6% |
| Suppliers | 440/4 | €16,007 | €6,141 | -€9,866 | -61.6% |
| Taxes, remuneration and social security | 45 | €47,570 | €84,386 | +€36,815 | +77.4% |
| Taxes | 450/3 | €47,570 | €84,386 | +€36,815 | +77.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €11 | €0 | -€11 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,295 | €1,886 | -€409 | -17.8% |
| Other operating charges | 640/8 | €2,409 | €1,052 | -€1,358 | -56.3% |
| Non-recurring operating charges | 66A | €1,804 | €0 | -€1,804 | -100.0% |
| Gross operating margin | 9900 | €119,222 | €82,323 | -€36,899 | -31.0% |
| Operating profit (loss) | 9901 | €112,714 | €79,385 | -€33,329 | -29.6% |
| Financial income | 75/76B | €12,791 | €14,506 | +€1,715 | +13.4% |
| Recurring financial income | 75 | €12,791 | €14,506 | +€1,715 | +13.4% |
| Financial charges | 65/66B | €2,993 | €1,223 | -€1,771 | -59.1% |
| Recurring financial charges | 65 | €2,993 | €1,223 | -€1,771 | -59.1% |
| Profit (loss) for the period before taxes | 9903 | €122,511 | €92,669 | -€29,843 | -24.4% |
| Income taxes | 67/77 | €43,839 | €34,532 | -€9,307 | -21.2% |
| Profit (loss) for the period | 9904 | €78,672 | €58,137 | -€20,535 | -26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €78,672 | €58,137 | -€20,535 | -26.1% |
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 4 October 2026 via checked.be.