JVMS: 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.
What changed
JVMS
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€187,521
2024 · €67,503+€120,017
Equity
€20.3m
2024 · €19.6m+€689,422
Cash
€5,809
2024 · €3+€5,806
Balance sheet total
€26.0m
2024 · €25.0m+€1.0m
Largest movements
Assets
- Receivables within one year +€580,252
up €580,252 (+48.4%), from €1.2m to €1.8m
of which Other amounts receivable: +€542,659
- Tangible fixed assets +€562,168
up €562,168 (+15.2%), from €3.7m to €4.3m
of which Land and buildings: +€579,382
Equity and liabilities
- Debts after one year -€754,686
down €754,686 (-20.0%), from €3.8m to €3.0m
- Revaluation surpluses +€501,901
up €501,901 (+6.2%), from €8.1m to €8.6m
- Current portion of long-term debt +€446,275
up €446,275 (+95.1%), from €469,276 to €915,551
Income statement
- Financial income +€320,238
up €320,238 (+611%), from €52,374 to €372,613
- Gross operating margin -€212,704
down €212,704 (-66.4%), from €320,487 to €107,783
- Financial charges -€34,769
down €34,769 (-13.6%), from €256,164 to €221,395
- Staff costs +€21,166
up €21,166 (+1,465%), from €1,445 to €22,611
- Other operating charges +€8,898
up €8,898 (+40.0%), from €22,256 to €31,155
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.
Result 2024
€67,503
Gross operating margin
-€212,704
Staff costs
-€21,166
Depreciation
+€7,355
Other operating charges
-€8,898
Financial income
+€320,238
Financial charges
+€34,769
Taxes
+€424
Result 2025
€187,521
raises the resultlowers the result
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.
From operations
+€447,928
Investment
-€579,382
Financing
+€137,260
Cash 2024
€3
From operations (derived)
+€447,928
Net result for the year
+€187,521
Depreciation
+€17,214
Receivables after one year
+€120,000
Receivables within one year
-€580,252
Deferred charges and accrued income
-€2,203
Trade debts
-€5,477
Tax, wage and social debts
+€14,367
Advances received
+€250,000
Other debts
+€226,003
Accrued charges and deferred income
+€220,755
Investment (derived)
-€579,382
Investment in fixed assets (net)
-€579,382
Financing
+€137,260
Debts after one year
-€754,686
Current portion of long-term debt
+€446,275
Short-term financial debts
-€56,230
Contributions, distributions and other
+€501,901
Cash 2025
€5,809
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,018,283 | €26,048,711 | +€1.0m | +4.1% |
| Fixed assets | 21/28 | €21,293,803 | €21,855,971 | +€562,168 | +2.6% |
| Tangible fixed assets | 22/27 | €3,692,078 | €4,254,246 | +€562,168 | +15.2% |
| Land and buildings | 22 | €3,620,618 | €4,200,000 | +€579,382 | +16.0% |
| Plant, machinery and equipment | 23 | €15,974 | €8,689 | -€7,285 | -45.6% |
| Furniture and vehicles | 24 | €55,485 | €45,557 | -€9,929 | -17.9% |
| Financial fixed assets | 28 | €17,601,725 | €17,601,725 | = | 0.0% |
| Current assets | 29/58 | €3,724,480 | €4,192,740 | +€468,260 | +12.6% |
| Amounts receivable after more than one year | 29 | €2,500,000 | €2,380,000 | -€120,000 | -4.8% |
| Other amounts receivable | 291 | €2,500,000 | €2,380,000 | -€120,000 | -4.8% |
| Stocks and contracts in progress | 3 | €20,000 | €20,000 | = | 0.0% |
| Stocks | 30/36 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,199,811 | €1,780,063 | +€580,252 | +48.4% |
| Trade receivables | 40 | €37,859 | €75,452 | +€37,593 | +99.3% |
| Other amounts receivable | 41 | €1,161,952 | €1,704,611 | +€542,659 | +46.7% |
| Cash at bank and in hand | 54/58 | €3 | €5,809 | +€5,806 | +226,799% |
| Deferred charges and accrued income | 490/1 | €4,666 | €6,869 | +€2,203 | +47.2% |
| Total equity and liabilities | 10/49 | €25,018,283 | €26,048,711 | +€1.0m | +4.1% |
| Equity | 10/15 | €19,640,045 | €20,329,466 | +€689,422 | +3.5% |
| Contributions | 10/11 | €3,542,300 | €3,542,300 | = | 0.0% |
| Revaluation surpluses | 12 | €8,053,897 | €8,555,798 | +€501,901 | +6.2% |
| Reserves | 13 | €532,459 | €532,459 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,408 | €9,408 | = | 0.0% |
| Distributable reserves | 133 | €523,051 | €523,051 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,511,389 | €7,698,910 | +€187,521 | +2.5% |
| Amounts payable | 17/49 | €5,378,238 | €5,719,244 | +€341,006 | +6.3% |
| Amounts payable after more than one year | 17 | €3,776,166 | €3,021,480 | -€754,686 | -20.0% |
| Financial debts | 170/4 | €3,776,166 | €3,021,480 | -€754,686 | -20.0% |
| Amounts payable within one year | 42/48 | €1,566,029 | €2,440,966 | +€874,937 | +55.9% |
| Current portion of amounts payable after more than one year | 42 | €469,276 | €915,551 | +€446,275 | +95.1% |
| Financial debts | 43 | €56,230 | €0 | -€56,230 | -100% |
| Credit institutions | 430/8 | €56,230 | €0 | -€56,230 | -100% |
| Trade debts | 44 | €121,880 | €116,403 | -€5,477 | -4.5% |
| Suppliers | 440/4 | €121,880 | €116,403 | -€5,477 | -4.5% |
| Advances received on contracts in progress | 46 | - | €250,000 | +€250,000 | |
| Taxes, remuneration and social security | 45 | €34,844 | €49,211 | +€14,367 | +41.2% |
| Taxes | 450/3 | €34,748 | €43,509 | +€8,761 | +25.2% |
| Remuneration and social security | 454/9 | €96 | €5,702 | +€5,605 | +5,814% |
| Other amounts payable | 47/48 | €883,800 | €1,109,803 | +€226,003 | +25.6% |
| Accrued charges and deferred income | 492/3 | €36,042 | €256,798 | +€220,755 | +612% |
| Non-recurring operating income | 76A | €260,991 | €30,725 | -€230,266 | -88.2% |
| Remuneration, social security and pensions | 62 | €1,445 | €22,611 | +€21,166 | +1,465% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,569 | €17,214 | -€7,355 | -29.9% |
| Other operating charges | 640/8 | €22,256 | €31,155 | +€8,898 | +40.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €320,487 | €107,783 | -€212,704 | -66.4% |
| Operating profit (loss) | 9901 | €272,218 | €36,804 | -€235,414 | -86.5% |
| Financial income | 75/76B | €52,374 | €372,613 | +€320,238 | +611% |
| Recurring financial income | 75 | €52,374 | €372,613 | +€320,238 | +611% |
| Financial charges | 65/66B | €256,164 | €221,395 | -€34,769 | -13.6% |
| Recurring financial charges | 65 | €256,164 | €221,395 | -€34,769 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €68,428 | €188,021 | +€119,594 | +175% |
| Income taxes | 67/77 | €924 | €501 | -€424 | -45.8% |
| Profit (loss) for the period | 9904 | €67,503 | €187,521 | +€120,017 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €67,503 | €187,521 | +€120,017 | +178% |
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.