JVH PROJECT: 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.
JVH PROJECT
Largest movements
- Cash +€7,649
up €7,649 (+27.5%), from €27,791 to €35,440
mainly Net result for the year (+€7,120) and Other debts (+€2,590)
- Receivables within one year +€693
up €693 (+6.8%), from €10,201 to €10,894
of which Trade receivables: +€692
- Reserves +€7,120
up €7,120 (+46.8%), from €15,225 to €22,346
- Other debts +€2,590
up €2,590 (+129.5%), from €2,000 to €4,590
- Trade debts -€973
down €973 (-38.4%), from €2,530 to €1,557
- Gross operating margin +€5,528
up €5,528 (+59.0%), from €9,373 to €14,901
- Taxes +€2,411
up €2,411 (+64.6%), from €3,730 to €6,141
- Other operating charges +€528
up €528 (+64.5%), from €818 to €1,346
- Depreciation -€386
no longer reported in 2025 (was €386)
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 | €37,992 | €46,334 | +€8,342 | +22.0% |
| Current assets | 29/58 | €37,992 | €46,334 | +€8,342 | +22.0% |
| Amounts receivable within one year | 40/41 | €10,201 | €10,894 | +€693 | +6.8% |
| Trade receivables | 40 | €10,181 | €10,873 | +€692 | +6.8% |
| Other amounts receivable | 41 | €20 | €20 | +€0 | +2.0% |
| Cash at bank and in hand | 54/58 | €27,791 | €35,440 | +€7,649 | +27.5% |
| Total equity and liabilities | 10/49 | €37,992 | €46,334 | +€8,342 | +22.0% |
| Equity | 10/15 | €30,225 | €37,346 | +€7,120 | +23.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Capital | 10 | €15,000 | €15,000 | = | 0.0% |
| Issued capital | 100 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €15,225 | €22,346 | +€7,120 | +46.8% |
| Distributable reserves | 133 | €15,225 | €22,346 | +€7,120 | +46.8% |
| Amounts payable | 17/49 | €7,767 | €8,988 | +€1,221 | +15.7% |
| Amounts payable within one year | 42/48 | €7,767 | €8,988 | +€1,221 | +15.7% |
| Trade debts | 44 | €2,530 | €1,557 | -€973 | -38.4% |
| Suppliers | 440/4 | €2,530 | €1,557 | -€973 | -38.4% |
| Taxes, remuneration and social security | 45 | €3,237 | €2,841 | -€396 | -12.2% |
| Taxes | 450/3 | €3,237 | €2,841 | -€396 | -12.2% |
| Other amounts payable | 47/48 | €2,000 | €4,590 | +€2,590 | +129.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €386 | - | -€386 | |
| Other operating charges | 640/8 | €818 | €1,346 | +€528 | +64.5% |
| Gross operating margin | 9900 | €9,373 | €14,901 | +€5,528 | +59.0% |
| Operating profit (loss) | 9901 | €8,168 | €13,555 | +€5,387 | +65.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €238 | €294 | +€56 | +23.3% |
| Recurring financial charges | 65 | €238 | €294 | +€56 | +23.3% |
| Profit (loss) for the period before taxes | 9903 | €7,930 | €13,262 | +€5,332 | +67.2% |
| Income taxes | 67/77 | €3,730 | €6,141 | +€2,411 | +64.6% |
| Profit (loss) for the period | 9904 | €4,199 | €7,120 | +€2,921 | +69.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,199 | €7,120 | +€2,921 | +69.6% |
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 9 October 2026 via checked.be.