JVR Belgium: 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.
JVR Belgium
Largest movements
- Tangible fixed assets -€418,068
no longer reported in 2025 (was €418,068)
- Receivables within one year +€415,853
up €415,853 (+188%), from €221,587 to €637,440
of which Trade receivables: +€389,142
- Cash -€9,173
down €9,173 (-91.0%), from €10,078 to €905
mainly Receivables within one year (-€415,853) and Net result for the year (-€27,303)
- Profit (loss) carried forward -€27,303
down €27,303 (-6.8%), from -€399,384 to -€426,687
- Trade debts +€14,199
up €14,199 (+541%), from €2,626 to €16,825
- Depreciation -€40,938
no longer reported in 2025 (was €40,938)
- Financial charges +€30,579
up €30,579 (+278%), from €11,017 to €41,596
- Gross operating margin +€28,372
up €28,372, from -€15,946 to €12,426
- Taxes -€2,300
no longer reported in 2025 (was €2,300)
- Financial income +€862
up €862 (+16.9%), from €5,104 to €5,966
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 | €649,733 | €638,345 | -€11,388 | -1.8% |
| Fixed assets | 21/28 | €418,068 | - | -€418,068 | |
| Tangible fixed assets | 22/27 | €418,068 | - | -€418,068 | |
| Land and buildings | 22 | €418,068 | - | -€418,068 | |
| Current assets | 29/58 | €231,665 | €638,345 | +€406,680 | +176% |
| Amounts receivable within one year | 40/41 | €221,587 | €637,440 | +€415,853 | +188% |
| Trade receivables | 40 | €72,728 | €461,870 | +€389,142 | +535% |
| Other amounts receivable | 41 | €148,859 | €175,570 | +€26,711 | +17.9% |
| Cash at bank and in hand | 54/58 | €10,078 | €905 | -€9,173 | -91.0% |
| Total equity and liabilities | 10/49 | €649,733 | €638,345 | -€11,388 | -1.8% |
| Equity | 10/15 | -€133,184 | -€160,487 | -€27,303 | -20.5% |
| Contributions | 10/11 | €266,200 | €266,200 | = | 0.0% |
| Capital | 10 | €266,200 | €266,200 | = | 0.0% |
| Issued capital | 100 | €266,200 | €266,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€399,384 | -€426,687 | -€27,303 | -6.8% |
| Amounts payable | 17/49 | €782,917 | €798,832 | +€15,914 | +2.0% |
| Amounts payable within one year | 42/48 | €782,917 | €798,832 | +€15,914 | +2.0% |
| Trade debts | 44 | €2,626 | €16,825 | +€14,199 | +541% |
| Suppliers | 440/4 | €2,626 | €16,825 | +€14,199 | +541% |
| Taxes, remuneration and social security | 45 | €697 | - | -€697 | |
| Taxes | 450/3 | €697 | - | -€697 | |
| Other amounts payable | 47/48 | €779,594 | €782,006 | +€2,413 | +0.3% |
| Non-recurring operating income | 76A | - | €43,802 | +€43,802 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,938 | - | -€40,938 | |
| Other operating charges | 640/8 | €3,402 | €4,099 | +€697 | +20.5% |
| Gross operating margin | 9900 | -€15,946 | €12,426 | +€28,372 | |
| Operating profit (loss) | 9901 | -€60,286 | €8,327 | +€68,613 | |
| Financial income | 75/76B | €5,104 | €5,966 | +€862 | +16.9% |
| Recurring financial income | 75 | €5,104 | €5,966 | +€862 | +16.9% |
| Financial charges | 65/66B | €11,017 | €41,596 | +€30,579 | +278% |
| Recurring financial charges | 65 | €11,017 | €41,596 | +€30,579 | +278% |
| Profit (loss) for the period before taxes | 9903 | -€66,199 | -€27,303 | +€38,896 | +58.8% |
| Income taxes | 67/77 | €2,300 | - | -€2,300 | |
| Profit (loss) for the period | 9904 | -€68,499 | -€27,303 | +€41,197 | +60.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,499 | -€27,303 | +€41,197 | +60.1% |
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 28 October 2026 via checked.be.