JVLF: 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.
JVLF
Largest movements
- Cash -€99,259
down €99,259 (-58.4%), from €170,076 to €70,817
mainly Other debts (-€79,986) and Contributions, distributions and other (-€78,000)
- Tangible fixed assets -€53,535
down €53,535 (-57.2%), from €93,650 to €40,115
of which Furniture and vehicles: -€53,045
- Receivables within one year -€5,832
down €5,832 (-34.9%), from €16,720 to €10,888
of which Trade receivables: -€2,962
- Other debts -€79,986
down €79,986 (-54.4%), from €147,059 to €67,073
- Profit (loss) carried forward -€27,092
down €27,092 (-43.0%), from €62,946 to €35,855
- Debts after one year -€26,225
no longer reported in 2025 (was €26,225)
- Tax, wage and social debts -€14,692
down €14,692 (-52.2%), from €28,132 to €13,440
of which Taxes: -€15,758
- Current portion of long-term debt -€11,296
no longer reported in 2025 (was €11,296)
- Financial charges +€11,718
up €11,718 (+570.9%), from €2,053 to €13,771
of which Non-recurring financial charges: +€11,786
- Depreciation -€9,839
down €9,839 (-38.5%), from €25,588 to €15,749
- Gross operating margin -€4,747
down €4,747 (-4.5%), from €104,669 to €99,922
- Taxes -€1,517
down €1,517 (-7.7%), from €19,712 to €18,195
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 | €282,845 | €123,117 | -€159,727 | -56.5% |
| Fixed assets | 21/28 | €93,650 | €40,115 | -€53,535 | -57.2% |
| Tangible fixed assets | 22/27 | €93,650 | €40,115 | -€53,535 | -57.2% |
| Furniture and vehicles | 24 | €92,443 | €39,398 | -€53,045 | -57.4% |
| Other tangible fixed assets | 26 | €1,207 | €717 | -€490 | -40.6% |
| Current assets | 29/58 | €189,195 | €83,002 | -€106,192 | -56.1% |
| Amounts receivable within one year | 40/41 | €16,720 | €10,888 | -€5,832 | -34.9% |
| Trade receivables | 40 | €13,850 | €10,888 | -€2,962 | -21.4% |
| Other amounts receivable | 41 | €2,870 | - | -€2,870 | |
| Cash at bank and in hand | 54/58 | €170,076 | €70,817 | -€99,259 | -58.4% |
| Deferred charges and accrued income | 490/1 | €2,399 | €1,297 | -€1,102 | -45.9% |
| Total equity and liabilities | 10/49 | €282,845 | €123,117 | -€159,727 | -56.5% |
| Equity | 10/15 | €67,946 | €40,855 | -€27,092 | -39.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,946 | €35,855 | -€27,092 | -43.0% |
| Amounts payable | 17/49 | €214,898 | €82,262 | -€132,636 | -61.7% |
| Amounts payable after more than one year | 17 | €26,225 | - | -€26,225 | |
| Financial debts | 170/4 | €26,225 | - | -€26,225 | |
| Amounts payable within one year | 42/48 | €188,673 | €82,262 | -€106,410 | -56.4% |
| Current portion of amounts payable after more than one year | 42 | €11,296 | - | -€11,296 | |
| Trade debts | 44 | €2,185 | €1,749 | -€436 | -19.9% |
| Suppliers | 440/4 | €2,185 | €1,749 | -€436 | -19.9% |
| Taxes, remuneration and social security | 45 | €28,132 | €13,440 | -€14,692 | -52.2% |
| Taxes | 450/3 | €28,132 | €12,375 | -€15,758 | -56.0% |
| Remuneration and social security | 454/9 | - | €1,065 | +€1,065 | |
| Other amounts payable | 47/48 | €147,059 | €67,073 | -€79,986 | -54.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,588 | €15,749 | -€9,839 | -38.5% |
| Other operating charges | 640/8 | €1,272 | €1,298 | +€26 | +2.0% |
| Gross operating margin | 9900 | €104,669 | €99,922 | -€4,747 | -4.5% |
| Operating profit (loss) | 9901 | €77,808 | €82,874 | +€5,066 | +6.5% |
| Financial charges | 65/66B | €2,053 | €13,771 | +€11,718 | +570.9% |
| Recurring financial charges | 65 | €2,053 | €1,985 | -€67 | -3.3% |
| Non-recurring financial charges | 66B | - | €11,786 | +€11,786 | |
| Profit (loss) for the period before taxes | 9903 | €75,756 | €69,104 | -€6,652 | -8.8% |
| Income taxes | 67/77 | €19,712 | €18,195 | -€1,517 | -7.7% |
| Profit (loss) for the period | 9904 | €56,043 | €50,908 | -€5,135 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,043 | €50,908 | -€5,135 | -9.2% |
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 29 September 2026 via checked.be.