JVM STABLES: 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.
JVM STABLES
Largest movements
- Cash -€490,564
down €490,564 (-96.9%), from €506,044 to €15,480
mainly Investment in fixed assets (net) (-€436,258) and Stocks and contracts (-€275,400)
- Tangible fixed assets +€395,764
up €395,764 (+261%), from €151,584 to €547,347
of which Other tangible fixed assets: +€378,828
- Stocks and contracts +€275,400
up €275,400 (+45.7%), from €602,950 to €878,350
- Receivables after one year -€105,000
down €105,000 (-100%), from €105,000 to €0
- Receivables within one year +€19,031
up €19,031 (+42.1%), from €45,249 to €64,280
of which Other amounts receivable: +€19,031
- Other debts +€325,480
up €325,480 (+99,550%), from €327 to €325,807
- Trade debts -€265,456
down €265,456 (-29.2%), from €909,528 to €644,072
- Reserves -€125,000
down €125,000 (-30.2%), from €413,420 to €288,420
- Debts after one year +€73,250
up €73,250 (+107%), from €68,634 to €141,884
- Profit (loss) carried forward +€59,245
new in 2025: €59,245
- Other operating charges +€42,181
up €42,181 (+444%), from €9,502 to €51,683
- Taxes +€31,728
up €31,728 (+59.6%), from €53,272 to €85,000
- Gross operating margin +€28,125
up €28,125 (+13.4%), from €209,912 to €238,037
- Depreciation +€12,462
up €12,462 (+44.9%), from €27,732 to €40,194
- Staff costs -€3,377
down €3,377 (-100%), from €3,377 to €0
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 | €1,412,556 | €1,512,492 | +€99,936 | +7.1% |
| Fixed assets | 21/28 | €151,584 | €547,647 | +€396,064 | +261% |
| Tangible fixed assets | 22/27 | €151,584 | €547,347 | +€395,764 | +261% |
| Plant, machinery and equipment | 23 | €60,539 | €80,016 | +€19,477 | +32.2% |
| Furniture and vehicles | 24 | €15,633 | €13,092 | -€2,541 | -16.3% |
| Other tangible fixed assets | 26 | €75,412 | €454,240 | +€378,828 | +502% |
| Financial fixed assets | 28 | - | €300 | +€300 | |
| Current assets | 29/58 | €1,260,972 | €964,844 | -€296,128 | -23.5% |
| Amounts receivable after more than one year | 29 | €105,000 | €0 | -€105,000 | -100% |
| Other amounts receivable | 291 | €105,000 | €0 | -€105,000 | -100% |
| Stocks and contracts in progress | 3 | €602,950 | €878,350 | +€275,400 | +45.7% |
| Stocks | 30/36 | €602,950 | €878,350 | +€275,400 | +45.7% |
| Amounts receivable within one year | 40/41 | €45,249 | €64,280 | +€19,031 | +42.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €45,249 | €64,280 | +€19,031 | +42.1% |
| Cash at bank and in hand | 54/58 | €506,044 | €15,480 | -€490,564 | -96.9% |
| Deferred charges and accrued income | 490/1 | €1,729 | €6,735 | +€5,006 | +290% |
| Total equity and liabilities | 10/49 | €1,412,556 | €1,512,492 | +€99,936 | +7.1% |
| Equity | 10/15 | €418,420 | €352,665 | -€65,755 | -15.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €413,420 | €288,420 | -€125,000 | -30.2% |
| Distributable reserves | 133 | €413,420 | €288,420 | -€125,000 | -30.2% |
| Profit (loss) carried forward | 14 | - | €59,245 | +€59,245 | |
| Amounts payable | 17/49 | €994,136 | €1,159,827 | +€165,691 | +16.7% |
| Amounts payable after more than one year | 17 | €68,634 | €141,884 | +€73,250 | +107% |
| Other amounts payable | 178/9 | €68,634 | €141,884 | +€73,250 | +107% |
| Amounts payable within one year | 42/48 | €923,464 | €979,320 | +€55,856 | +6.0% |
| Financial debts | 43 | €2,318 | €6,488 | +€4,170 | +180% |
| Credit institutions | 430/8 | €2,318 | €6,488 | +€4,170 | +180% |
| Trade debts | 44 | €909,528 | €644,072 | -€265,456 | -29.2% |
| Suppliers | 440/4 | €909,528 | €644,072 | -€265,456 | -29.2% |
| Taxes, remuneration and social security | 45 | €11,291 | €2,952 | -€8,338 | -73.9% |
| Taxes | 450/3 | €0 | €112 | +€112 | |
| Remuneration and social security | 454/9 | €11,291 | €2,841 | -€8,450 | -74.8% |
| Other amounts payable | 47/48 | €327 | €325,807 | +€325,480 | +99,550% |
| Accrued charges and deferred income | 492/3 | €2,038 | €38,623 | +€36,585 | +1,795% |
| Non-recurring operating income | 76A | €0 | €10,000 | +€10,000 | |
| Remuneration, social security and pensions | 62 | €3,377 | €0 | -€3,377 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,732 | €40,194 | +€12,462 | +44.9% |
| Other operating charges | 640/8 | €9,502 | €51,683 | +€42,181 | +444% |
| Gross operating margin | 9900 | €209,912 | €238,037 | +€28,125 | +13.4% |
| Operating profit (loss) | 9901 | €169,301 | €146,160 | -€23,141 | -13.7% |
| Financial income | 75/76B | €1,343 | €92 | -€1,251 | -93.2% |
| Recurring financial income | 75 | €1,343 | €92 | -€1,251 | -93.2% |
| Financial charges | 65/66B | €3,428 | €2,007 | -€1,422 | -41.5% |
| Recurring financial charges | 65 | €3,428 | €2,007 | -€1,422 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €167,215 | €144,245 | -€22,970 | -13.7% |
| Income taxes | 67/77 | €53,272 | €85,000 | +€31,728 | +59.6% |
| Profit (loss) for the period | 9904 | €113,943 | €59,245 | -€54,698 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €113,943 | €59,245 | -€54,698 | -48.0% |
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 18 October 2026 via checked.be.