JVR 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.
JVR Projects
Largest movements
- Tangible fixed assets +€113,971
up €113,971 (+67.9%), from €167,962 to €281,933
of which Leasing and similar rights: +€68,189
- Receivables within one year +€27,433
up €27,433 (+14.9%), from €184,697 to €212,130
of which Trade receivables: +€26,283
- Cash +€20,125
up €20,125 (+41.4%), from €48,668 to €68,793
mainly Debts after one year (+€72,796) and Trade debts (+€67,919)
- Debts after one year +€72,796
up €72,796 (+96.8%), from €75,194 to €147,990
- Trade debts +€67,919
up €67,919 (+113.0%), from €60,116 to €128,035
- Current portion of long-term debt +€30,984
up €30,984 (+160.7%), from €19,284 to €50,268
- Tax, wage and social debts -€10,742
down €10,742 (-59.9%), from €17,942 to €7,200
of which Taxes: -€6,019
- Gross operating margin +€48,524
up €48,524 (+37.9%), from €128,093 to €176,618
- Staff costs +€33,566
up €33,566 (+59.5%), from €56,457 to €90,022
- Depreciation +€25,735
up €25,735 (+67.4%), from €38,189 to €63,924
- Financial charges +€6,723
up €6,723 (+33.2%), from €20,274 to €26,997
- Taxes -€2,790
down €2,790 (-84.8%), from €3,292 to €501
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 | €436,618 | €593,909 | +€157,291 | +36.0% |
| Fixed assets | 21/28 | €171,551 | €283,738 | +€112,187 | +65.4% |
| Intangible fixed assets | 21 | €3,589 | €1,805 | -€1,784 | -49.7% |
| Tangible fixed assets | 22/27 | €167,962 | €281,933 | +€113,971 | +67.9% |
| Plant, machinery and equipment | 23 | €64,121 | €85,686 | +€21,565 | +33.6% |
| Furniture and vehicles | 24 | €6,631 | €30,847 | +€24,216 | +365.2% |
| Leasing and similar rights | 25 | €97,211 | €165,400 | +€68,189 | +70.1% |
| Current assets | 29/58 | €265,067 | €310,171 | +€45,105 | +17.0% |
| Amounts receivable within one year | 40/41 | €184,697 | €212,130 | +€27,433 | +14.9% |
| Trade receivables | 40 | €131,752 | €158,035 | +€26,283 | +19.9% |
| Other amounts receivable | 41 | €52,944 | €54,094 | +€1,150 | +2.2% |
| Cash at bank and in hand | 54/58 | €48,668 | €68,793 | +€20,125 | +41.4% |
| Deferred charges and accrued income | 490/1 | €31,702 | €29,248 | -€2,454 | -7.7% |
| Total equity and liabilities | 10/49 | €436,618 | €593,909 | +€157,291 | +36.0% |
| Equity | 10/15 | €130,928 | €127,045 | -€3,882 | -3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €112,328 | €112,328 | = | 0.0% |
| Distributable reserves | 133 | €112,328 | €112,328 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€3,882 | -€3,882 | |
| Amounts payable | 17/49 | €305,690 | €466,864 | +€161,173 | +52.7% |
| Amounts payable after more than one year | 17 | €75,194 | €147,990 | +€72,796 | +96.8% |
| Financial debts | 170/4 | €75,194 | €147,990 | +€72,796 | +96.8% |
| Amounts payable within one year | 42/48 | €230,496 | €318,873 | +€88,377 | +38.3% |
| Current portion of amounts payable after more than one year | 42 | €19,284 | €50,268 | +€30,984 | +160.7% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €60,116 | €128,035 | +€67,919 | +113.0% |
| Suppliers | 440/4 | €60,116 | €128,035 | +€67,919 | +113.0% |
| Advances received on contracts in progress | 46 | €8,151 | €8,151 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €17,942 | €7,200 | -€10,742 | -59.9% |
| Taxes | 450/3 | €11,439 | €5,420 | -€6,019 | -52.6% |
| Remuneration and social security | 454/9 | €6,503 | €1,780 | -€4,722 | -72.6% |
| Other amounts payable | 47/48 | €4 | €219 | +€216 | +6042.0% |
| Non-recurring operating income | 76A | - | €24,484 | +€24,484 | |
| Remuneration, social security and pensions | 62 | €56,457 | €90,022 | +€33,566 | +59.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,189 | €63,924 | +€25,735 | +67.4% |
| Other operating charges | 640/8 | €1,621 | €2,037 | +€415 | +25.6% |
| Gross operating margin | 9900 | €128,093 | €176,618 | +€48,524 | +37.9% |
| Operating profit (loss) | 9901 | €31,826 | €20,634 | -€11,192 | -35.2% |
| Financial income | 75/76B | €2,736 | €2,982 | +€245 | +9.0% |
| Recurring financial income | 75 | €2,736 | €2,982 | +€245 | +9.0% |
| Financial charges | 65/66B | €20,274 | €26,997 | +€6,723 | +33.2% |
| Recurring financial charges | 65 | €20,274 | €26,997 | +€6,723 | +33.2% |
| Profit (loss) for the period before taxes | 9903 | €14,289 | -€3,381 | -€17,669 | |
| Income taxes | 67/77 | €3,292 | €501 | -€2,790 | -84.8% |
| Profit (loss) for the period | 9904 | €10,997 | -€3,882 | -€14,879 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,997 | -€3,882 | -€14,879 |
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 10 October 2026 via checked.be.