JVL-Projects: 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.
JVL-Projects
Largest movements
- Receivables within one year +€441,659
up €441,659 (+42.5%), from €1.0m to €1.5m
of which Trade receivables: +€434,542
- Tangible fixed assets +€240,939
up €240,939 (+21.7%), from €1.1m to €1.3m
of which Leasing and similar rights: +€300,198
- Stocks and contracts -€93,000
down €93,000 (-26.5%), from €351,500 to €258,500
of which Contracts in progress: -€103,000
- Cash -€38,687
down €38,687 (-32.6%), from €118,535 to €79,849
mainly Investment in fixed assets (net) (-€532,088) and Receivables within one year (-€441,659)
- Trade debts +€329,058
up €329,058 (+30.4%), from €1.1m to €1.4m
- Debts after one year +€55,937
up €55,937 (+7.3%), from €765,698 to €821,636
- Current portion of long-term debt +€52,766
up €52,766 (+31.3%), from €168,685 to €221,450
- Other debts +€45,193
up €45,193 (+38.1%), from €118,524 to €163,717
- Reserves +€39,042
up €39,042 (+31.9%), from €122,303 to €161,345
of which Distributable reserves: +€39,042
- Gross operating margin +€320,873
up €320,873 (+20.3%), from €1.6m to €1.9m
- Staff costs +€224,615
up €224,615 (+19.1%), from €1.2m to €1.4m
- Financial charges +€57,209
up €57,209 (+81.2%), from €70,455 to €127,665
- Depreciation +€49,044
up €49,044 (+18.3%), from €268,105 to €317,149
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 | €2,729,958 | €3,245,590 | +€515,632 | +18.9% |
| Fixed assets | 21/28 | €1,194,483 | €1,409,422 | +€214,939 | +18.0% |
| Intangible fixed assets | 21 | €84,208 | €58,208 | -€26,000 | -30.9% |
| Tangible fixed assets | 22/27 | €1,108,592 | €1,349,531 | +€240,939 | +21.7% |
| Land and buildings | 22 | €250,456 | €246,365 | -€4,092 | -1.6% |
| Plant, machinery and equipment | 23 | €481,843 | €438,834 | -€43,009 | -8.9% |
| Furniture and vehicles | 24 | €75,132 | €62,973 | -€12,159 | -16.2% |
| Leasing and similar rights | 25 | €301,161 | €601,359 | +€300,198 | +99.7% |
| Financial fixed assets | 28 | €1,683 | €1,683 | = | 0.0% |
| Current assets | 29/58 | €1,535,475 | €1,836,168 | +€300,693 | +19.6% |
| Stocks and contracts in progress | 3 | €351,500 | €258,500 | -€93,000 | -26.5% |
| Stocks | 30/36 | €98,000 | €108,000 | +€10,000 | +10.2% |
| Contracts in progress | 37 | €253,500 | €150,500 | -€103,000 | -40.6% |
| Amounts receivable within one year | 40/41 | €1,040,049 | €1,481,708 | +€441,659 | +42.5% |
| Trade receivables | 40 | €965,301 | €1,399,843 | +€434,542 | +45.0% |
| Other amounts receivable | 41 | €74,748 | €81,865 | +€7,117 | +9.5% |
| Cash at bank and in hand | 54/58 | €118,535 | €79,849 | -€38,687 | -32.6% |
| Deferred charges and accrued income | 490/1 | €25,391 | €16,112 | -€9,279 | -36.5% |
| Total equity and liabilities | 10/49 | €2,729,958 | €3,245,590 | +€515,632 | +18.9% |
| Equity | 10/15 | €152,784 | €191,826 | +€39,042 | +25.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €122,303 | €161,345 | +€39,042 | +31.9% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €122,203 | €161,245 | +€39,042 | +31.9% |
| Profit (loss) carried forward | 14 | €481 | €481 | = | 0.0% |
| Amounts payable | 17/49 | €2,577,174 | €3,053,764 | +€476,589 | +18.5% |
| Amounts payable after more than one year | 17 | €765,698 | €821,636 | +€55,937 | +7.3% |
| Financial debts | 170/4 | €765,698 | €821,636 | +€55,937 | +7.3% |
| Amounts payable within one year | 42/48 | €1,811,476 | €2,232,128 | +€420,652 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €168,685 | €221,450 | +€52,766 | +31.3% |
| Financial debts | 43 | €310,000 | €308,351 | -€1,649 | -0.5% |
| Credit institutions | 430/8 | €310,000 | €308,351 | -€1,649 | -0.5% |
| Trade debts | 44 | €1,082,615 | €1,411,673 | +€329,058 | +30.4% |
| Suppliers | 440/4 | €1,082,615 | €1,411,673 | +€329,058 | +30.4% |
| Taxes, remuneration and social security | 45 | €131,652 | €126,937 | -€4,715 | -3.6% |
| Taxes | 450/3 | €11,674 | €10,783 | -€891 | -7.6% |
| Remuneration and social security | 454/9 | €119,978 | €116,153 | -€3,824 | -3.2% |
| Other amounts payable | 47/48 | €118,524 | €163,717 | +€45,193 | +38.1% |
| Remuneration, social security and pensions | 62 | €1,177,613 | €1,402,227 | +€224,615 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268,105 | €317,149 | +€49,044 | +18.3% |
| Other operating charges | 640/8 | €13,104 | €14,930 | +€1,826 | +13.9% |
| Gross operating margin | 9900 | €1,579,626 | €1,900,499 | +€320,873 | +20.3% |
| Operating profit (loss) | 9901 | €120,804 | €166,193 | +€45,389 | +37.6% |
| Financial income | 75/76B | €7,041 | €9,994 | +€2,953 | +41.9% |
| Recurring financial income | 75 | €7,041 | €9,994 | +€2,953 | +41.9% |
| Financial charges | 65/66B | €70,455 | €127,665 | +€57,209 | +81.2% |
| Recurring financial charges | 65 | €70,455 | €127,665 | +€57,209 | +81.2% |
| Profit (loss) for the period before taxes | 9903 | €57,390 | €48,522 | -€8,867 | -15.5% |
| Income taxes | 67/77 | €14,688 | €9,480 | -€5,208 | -35.5% |
| Profit (loss) for the period | 9904 | €42,702 | €39,042 | -€3,660 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,702 | €39,042 | -€3,660 | -8.6% |
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 14 October 2026 via checked.be.