JVO-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.
JVO-Projects
Largest movements
- Tangible fixed assets +€40,964
up €40,964 (+41.2%), from €99,467 to €140,431
of which Furniture and vehicles: +€55,958
- Receivables within one year +€40,897
up €40,897 (+23.8%), from €171,486 to €212,384
of which Trade receivables: +€38,739
- Cash -€32,311
down €32,311 (-25.4%), from €127,364 to €95,053
mainly Investment in fixed assets (net) (-€77,003) and Receivables within one year (-€40,897)
- Reserves +€41,796
up €41,796 (+9.8%), from €427,427 to €469,223
of which Distributable reserves: +€41,796
- Other debts +€36,284
up €36,284 (+444.3%), from €8,166 to €44,450
- Trade debts -€19,206
down €19,206 (-52.9%), from €36,291 to €17,085
- Tax, wage and social debts -€5,742
down €5,742 (-53.1%), from €10,812 to €5,070
of which Remuneration and social security: -€4,192
- Gross operating margin +€16,570
up €16,570 (+5.4%), from €305,730 to €322,300
- Staff costs -€10,554
down €10,554 (-5.7%), from €186,209 to €175,655
- Taxes +€6,615
up €6,615 (+29.7%), from €22,288 to €28,903
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 | €512,609 | €561,728 | +€49,120 | +9.6% |
| Fixed assets | 21/28 | €99,467 | €140,431 | +€40,964 | +41.2% |
| Tangible fixed assets | 22/27 | €99,467 | €140,431 | +€40,964 | +41.2% |
| Land and buildings | 22 | €68,772 | €57,306 | -€11,465 | -16.7% |
| Plant, machinery and equipment | 23 | €7,999 | €4,470 | -€3,529 | -44.1% |
| Furniture and vehicles | 24 | €22,696 | €78,654 | +€55,958 | +246.6% |
| Current assets | 29/58 | €413,142 | €421,297 | +€8,155 | +2.0% |
| Stocks and contracts in progress | 3 | €112,915 | €109,941 | -€2,974 | -2.6% |
| Stocks | 30/36 | €46,160 | €45,338 | -€822 | -1.8% |
| Contracts in progress | 37 | €66,755 | €64,604 | -€2,151 | -3.2% |
| Amounts receivable within one year | 40/41 | €171,486 | €212,384 | +€40,897 | +23.8% |
| Trade receivables | 40 | €147,475 | €186,214 | +€38,739 | +26.3% |
| Other amounts receivable | 41 | €24,011 | €26,169 | +€2,158 | +9.0% |
| Cash at bank and in hand | 54/58 | €127,364 | €95,053 | -€32,311 | -25.4% |
| Deferred charges and accrued income | 490/1 | €1,377 | €3,920 | +€2,543 | +184.6% |
| Total equity and liabilities | 10/49 | €512,609 | €561,728 | +€49,120 | +9.6% |
| Equity | 10/15 | €457,340 | €495,123 | +€37,784 | +8.3% |
| Contributions | 10/11 | €25,900 | €25,900 | = | 0.0% |
| Reserves | 13 | €427,427 | €469,223 | +€41,796 | +9.8% |
| Tax-exempt reserves | 132 | €18,963 | €18,963 | = | 0.0% |
| Distributable reserves | 133 | €408,464 | €450,260 | +€41,796 | +10.2% |
| Profit (loss) carried forward | 14 | €4,012 | - | -€4,012 | |
| Amounts payable | 17/49 | €55,269 | €66,605 | +€11,336 | +20.5% |
| Amounts payable within one year | 42/48 | €55,269 | €66,605 | +€11,336 | +20.5% |
| Trade debts | 44 | €36,291 | €17,085 | -€19,206 | -52.9% |
| Suppliers | 440/4 | €36,291 | €17,085 | -€19,206 | -52.9% |
| Taxes, remuneration and social security | 45 | €10,812 | €5,070 | -€5,742 | -53.1% |
| Taxes | 450/3 | €3,300 | €1,750 | -€1,550 | -47.0% |
| Remuneration and social security | 454/9 | €7,512 | €3,320 | -€4,192 | -55.8% |
| Other amounts payable | 47/48 | €8,166 | €44,450 | +€36,284 | +444.3% |
| Remuneration, social security and pensions | 62 | €186,209 | €175,655 | -€10,554 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,414 | €36,039 | +€1,625 | +4.7% |
| Other operating charges | 640/8 | €2,317 | €1,975 | -€342 | -14.8% |
| Gross operating margin | 9900 | €305,730 | €322,300 | +€16,570 | +5.4% |
| Operating profit (loss) | 9901 | €82,791 | €108,632 | +€25,841 | +31.2% |
| Financial charges | 65/66B | €4,457 | €6,944 | +€2,487 | +55.8% |
| Recurring financial charges | 65 | €4,457 | €6,944 | +€2,487 | +55.8% |
| Profit (loss) for the period before taxes | 9903 | €78,334 | €101,687 | +€23,353 | +29.8% |
| Income taxes | 67/77 | €22,288 | €28,903 | +€6,615 | +29.7% |
| Profit (loss) for the period | 9904 | €56,046 | €72,784 | +€16,738 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €56,046 | €72,784 | +€16,738 | +29.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.