JVR: 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.
JVR
Largest movements
- Cash +€39,358
up €39,358 (+53.3%), from €73,805 to €113,164
mainly Net result for the year (+€34,595) and Depreciation (+€21,322)
- Tangible fixed assets -€21,322
down €21,322 (-6.2%), from €341,433 to €320,111
- Reserves +€33,795
up €33,795 (+469.4%), from €7,199 to €40,994
- Debts after one year -€16,940
down €16,940 (-10.2%), from €165,669 to €148,729
- Tax, wage and social debts -€7,528
down €7,528 (-45.7%), from €16,481 to €8,953
of which Taxes: -€9,028
- Gross operating margin +€53,261
up €53,261 (+181.2%), from €29,397 to €82,658
- Taxes +€11,495
up €11,495 (+550.7%), from €2,088 to €13,583
- Depreciation +€8,832
up €8,832 (+70.7%), from €12,490 to €21,322
- Financial charges +€3,795
up €3,795 (+56.9%), from €6,665 to €10,460
- Other operating charges +€1,641
up €1,641 (+155.0%), from €1,058 to €2,699
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 | €431,150 | €446,139 | +€14,989 | +3.5% |
| Fixed assets | 21/28 | €341,433 | €320,111 | -€21,322 | -6.2% |
| Tangible fixed assets | 22/27 | €341,433 | €320,111 | -€21,322 | -6.2% |
| Land and buildings | 22 | €296,075 | €287,199 | -€8,876 | -3.0% |
| Plant, machinery and equipment | 23 | €20,653 | €17,094 | -€3,559 | -17.2% |
| Furniture and vehicles | 24 | €24,705 | €15,817 | -€8,888 | -36.0% |
| Current assets | 29/58 | €89,718 | €126,028 | +€36,311 | +40.5% |
| Amounts receivable within one year | 40/41 | €13,355 | €10,207 | -€3,147 | -23.6% |
| Trade receivables | 40 | €5,444 | €4,864 | -€580 | -10.7% |
| Other amounts receivable | 41 | €7,911 | €5,343 | -€2,567 | -32.5% |
| Cash at bank and in hand | 54/58 | €73,805 | €113,164 | +€39,358 | +53.3% |
| Deferred charges and accrued income | 490/1 | €2,558 | €2,657 | +€100 | +3.9% |
| Total equity and liabilities | 10/49 | €431,150 | €446,139 | +€14,989 | +3.5% |
| Equity | 10/15 | €60,932 | €94,726 | +€33,795 | +55.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Outside capital | 11 | €2,500 | €2,500 | = | 0.0% |
| Other | 1109/19 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €7,199 | €40,994 | +€33,795 | +469.4% |
| Distributable reserves | 133 | €7,199 | €40,994 | +€33,795 | +469.4% |
| Profit (loss) carried forward | 14 | €51,233 | €51,233 | = | 0.0% |
| Amounts payable | 17/49 | €370,219 | €351,413 | -€18,806 | -5.1% |
| Amounts payable after more than one year | 17 | €165,669 | €148,729 | -€16,940 | -10.2% |
| Financial debts | 170/4 | €165,669 | €148,729 | -€16,940 | -10.2% |
| Amounts payable within one year | 42/48 | €204,549 | €202,684 | -€1,866 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €16,557 | €16,940 | +€383 | +2.3% |
| Financial debts | 43 | €3,017 | €3,020 | +€3 | +0.1% |
| Other loans | 439 | €3,017 | €3,020 | +€3 | +0.1% |
| Trade debts | 44 | €7,062 | €10,549 | +€3,487 | +49.4% |
| Suppliers | 440/4 | €7,062 | €10,549 | +€3,487 | +49.4% |
| Taxes, remuneration and social security | 45 | €16,481 | €8,953 | -€7,528 | -45.7% |
| Taxes | 450/3 | €14,481 | €5,453 | -€9,028 | -62.3% |
| Remuneration and social security | 454/9 | €2,000 | €3,500 | +€1,500 | +75.0% |
| Other amounts payable | 47/48 | €161,433 | €163,222 | +€1,789 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,490 | €21,322 | +€8,832 | +70.7% |
| Other operating charges | 640/8 | €1,058 | €2,699 | +€1,641 | +155.0% |
| Gross operating margin | 9900 | €29,397 | €82,658 | +€53,261 | +181.2% |
| Operating profit (loss) | 9901 | €15,849 | €58,637 | +€42,788 | +270.0% |
| Financial income | 75/76B | €103 | - | -€103 | |
| Recurring financial income | 75 | €103 | - | -€103 | |
| Financial charges | 65/66B | €6,665 | €10,460 | +€3,795 | +56.9% |
| Recurring financial charges | 65 | €6,665 | €10,460 | +€3,795 | +56.9% |
| Profit (loss) for the period before taxes | 9903 | €9,287 | €48,178 | +€38,891 | +418.8% |
| Income taxes | 67/77 | €2,088 | €13,583 | +€11,495 | +550.7% |
| Profit (loss) for the period | 9904 | €7,199 | €34,595 | +€27,396 | +380.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,199 | €34,595 | +€27,396 | +380.5% |
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 5 October 2026 via checked.be.