JVGK: 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.
JVGK
Largest movements
- Receivables within one year -€45,790
down €45,790 (-97.4%), from €46,999 to €1,210
of which Other amounts receivable: -€45,854
- Tangible fixed assets -€7,443
down €7,443 (-40.3%), from €18,454 to €11,011
of which Plant, machinery and equipment: -€5,340
- Cash -€1,370
down €1,370 (-6.0%), from €22,898 to €21,528
mainly Contributions, distributions and other (-€70,000) and Debts after one year (-€2,981)
- Reserves -€56,471
down €56,471 (-75.0%), from €75,337 to €18,867
- Other debts +€5,855
new in 2025: €5,855
- Debts after one year -€2,981
down €2,981 (-47.0%), from €6,347 to €3,365
- Short-term financial debts -€1,029
down €1,029 (-100.0%), from €1,029 to €0
- Gross operating margin -€9,842
down €9,842 (-29.7%), from €33,138 to €23,296
- Taxes -€1,966
down €1,966 (-33.4%), from €5,890 to €3,924
- Financial income +€1,389
new in 2025: €1,389
- Depreciation -€1,094
down €1,094 (-17.0%), from €6,434 to €5,340
- Other operating charges +€939
up €939 (+191.6%), from €490 to €1,429
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 | €90,102 | €35,808 | -€54,295 | -60.3% |
| Fixed assets | 21/28 | €18,454 | €11,011 | -€7,443 | -40.3% |
| Tangible fixed assets | 22/27 | €18,454 | €11,011 | -€7,443 | -40.3% |
| Land and buildings | 22 | €2,103 | €0 | -€2,103 | -100.0% |
| Plant, machinery and equipment | 23 | €16,352 | €11,011 | -€5,340 | -32.7% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €71,648 | €24,796 | -€46,851 | -65.4% |
| Amounts receivable within one year | 40/41 | €46,999 | €1,210 | -€45,790 | -97.4% |
| Trade receivables | 40 | - | €64 | +€64 | |
| Other amounts receivable | 41 | €46,999 | €1,146 | -€45,854 | -97.6% |
| Cash at bank and in hand | 54/58 | €22,898 | €21,528 | -€1,370 | -6.0% |
| Deferred charges and accrued income | 490/1 | €1,750 | €2,059 | +€309 | +17.6% |
| Total equity and liabilities | 10/49 | €90,102 | €35,808 | -€54,295 | -60.3% |
| Equity | 10/15 | €78,337 | €21,867 | -€56,471 | -72.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €75,337 | €18,867 | -€56,471 | -75.0% |
| Distributable reserves | 133 | €75,337 | €18,867 | -€56,471 | -75.0% |
| Amounts payable | 17/49 | €11,765 | €13,941 | +€2,176 | +18.5% |
| Amounts payable after more than one year | 17 | €6,347 | €3,365 | -€2,981 | -47.0% |
| Financial debts | 170/4 | €6,347 | €3,365 | -€2,981 | -47.0% |
| Amounts payable within one year | 42/48 | €5,418 | €10,575 | +€5,157 | +95.2% |
| Current portion of amounts payable after more than one year | 42 | €2,866 | €2,981 | +€115 | +4.0% |
| Financial debts | 43 | €1,029 | €0 | -€1,029 | -100.0% |
| Credit institutions | 430/8 | €1,029 | €0 | -€1,029 | -100.0% |
| Trade debts | 44 | €522 | €457 | -€65 | -12.4% |
| Suppliers | 440/4 | €522 | €457 | -€65 | -12.4% |
| Taxes, remuneration and social security | 45 | €1,001 | €1,282 | +€281 | +28.0% |
| Taxes | 450/3 | €1,001 | €1,282 | +€281 | +28.0% |
| Other amounts payable | 47/48 | - | €5,855 | +€5,855 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,434 | €5,340 | -€1,094 | -17.0% |
| Other operating charges | 640/8 | €490 | €1,429 | +€939 | +191.6% |
| Gross operating margin | 9900 | €33,138 | €23,296 | -€9,842 | -29.7% |
| Operating profit (loss) | 9901 | €26,214 | €16,527 | -€9,687 | -37.0% |
| Financial income | 75/76B | - | €1,389 | +€1,389 | |
| Recurring financial income | 75 | - | €1,389 | +€1,389 | |
| Financial charges | 65/66B | €654 | €463 | -€191 | -29.2% |
| Recurring financial charges | 65 | €654 | €463 | -€191 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €25,560 | €17,453 | -€8,107 | -31.7% |
| Income taxes | 67/77 | €5,890 | €3,924 | -€1,966 | -33.4% |
| Profit (loss) for the period | 9904 | €19,671 | €13,529 | -€6,141 | -31.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,671 | €13,529 | -€6,141 | -31.2% |
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 2 October 2026 via checked.be.