JVS: 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.
JVS
Largest movements
- Tangible fixed assets -€137,559
down €137,559 (-9.0%), from €1.5m to €1.4m
of which Leasing and similar rights: -€92,763
- Receivables within one year -€135,698
down €135,698 (-28.7%), from €473,287 to €337,589
of which Trade receivables: -€152,749
- Profit (loss) carried forward -€289,638
down €289,638 (-64.2%), from €451,102 to €161,465
- Debts after one year +€100,917
up €100,917 (+34.9%), from €289,495 to €390,413
- Advances received -€71,298
down €71,298 (-100.0%), from €71,298 to €0
- Other debts +€67,967
up €67,967 (+2.3%), from €3.0m to €3.0m
- Accrued charges and deferred income -€63,574
down €63,574 (-25.0%), from €254,527 to €190,953
- Other operating charges +€46,841
up €46,841 (+646.9%), from €7,241 to €54,082
- Gross operating margin -€15,237
down €15,237 (-4.6%), from €333,388 to €318,152
- Taxes -€5,416
down €5,416, from €5,247 to -€170
- Staff costs +€3,880
up €3,880 (+7.7%), from €50,080 to €53,960
- Financial charges -€3,686
down €3,686 (-5.8%), from €63,407 to €59,721
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 | €4,920,167 | €4,657,272 | -€262,895 | -5.3% |
| Fixed assets | 21/28 | €4,316,898 | €4,179,339 | -€137,559 | -3.2% |
| Tangible fixed assets | 22/27 | €1,522,277 | €1,384,718 | -€137,559 | -9.0% |
| Land and buildings | 22 | €1,149,631 | €1,095,797 | -€53,834 | -4.7% |
| Plant, machinery and equipment | 23 | €1,106 | €735 | -€371 | -33.6% |
| Furniture and vehicles | 24 | €223 | €9,634 | +€9,410 | +4210.9% |
| Leasing and similar rights | 25 | €371,317 | €278,553 | -€92,763 | -25.0% |
| Financial fixed assets | 28 | €2,794,621 | €2,794,621 | = | 0.0% |
| Current assets | 29/58 | €603,269 | €477,933 | -€125,336 | -20.8% |
| Amounts receivable after more than one year | 29 | €119,063 | €119,063 | = | 0.0% |
| Other amounts receivable | 291 | €119,063 | €119,063 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €473,287 | €337,589 | -€135,698 | -28.7% |
| Trade receivables | 40 | €298,226 | €145,477 | -€152,749 | -51.2% |
| Other amounts receivable | 41 | €175,061 | €192,112 | +€17,051 | +9.7% |
| Cash at bank and in hand | 54/58 | €6,859 | €13,942 | +€7,083 | +103.3% |
| Deferred charges and accrued income | 490/1 | €4,060 | €7,339 | +€3,279 | +80.8% |
| Total equity and liabilities | 10/49 | €4,920,167 | €4,657,272 | -€262,895 | -5.3% |
| Equity | 10/15 | €1,124,678 | €835,040 | -€289,638 | -25.8% |
| Contributions | 10/11 | €62,005 | €62,005 | = | 0.0% |
| Capital | 10 | €62,005 | €62,005 | = | 0.0% |
| Issued capital | 100 | €62,005 | €62,005 | = | 0.0% |
| Reserves | 13 | €611,571 | €611,571 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €605,370 | €605,370 | = | 0.0% |
| Profit (loss) carried forward | 14 | €451,102 | €161,465 | -€289,638 | -64.2% |
| Amounts payable | 17/49 | €3,795,489 | €3,822,232 | +€26,743 | +0.7% |
| Amounts payable after more than one year | 17 | €289,495 | €390,413 | +€100,917 | +34.9% |
| Financial debts | 170/4 | €289,495 | €390,413 | +€100,917 | +34.9% |
| Amounts payable within one year | 42/48 | €3,251,467 | €3,240,867 | -€10,600 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €133,963 | €151,245 | +€17,282 | +12.9% |
| Trade debts | 44 | €75,042 | €47,953 | -€27,089 | -36.1% |
| Suppliers | 440/4 | €75,042 | €47,953 | -€27,089 | -36.1% |
| Advances received on contracts in progress | 46 | €71,298 | €0 | -€71,298 | -100.0% |
| Taxes, remuneration and social security | 45 | €14,616 | €17,155 | +€2,538 | +17.4% |
| Taxes | 450/3 | €8,182 | €12,788 | +€4,606 | +56.3% |
| Remuneration and social security | 454/9 | €6,434 | €4,366 | -€2,068 | -32.1% |
| Other amounts payable | 47/48 | €2,956,547 | €3,024,514 | +€67,967 | +2.3% |
| Accrued charges and deferred income | 492/3 | €254,527 | €190,953 | -€63,574 | -25.0% |
| Non-recurring operating income | 76A | €63,540 | €63,540 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €50,080 | €53,960 | +€3,880 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,805 | €156,034 | +€2,229 | +1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €623 | €0 | -€623 | -100.0% |
| Other operating charges | 640/8 | €7,241 | €54,082 | +€46,841 | +646.9% |
| Non-recurring operating charges | 66A | €48,808 | €284,163 | +€235,355 | +482.2% |
| Gross operating margin | 9900 | €333,388 | €318,152 | -€15,237 | -4.6% |
| Operating profit (loss) | 9901 | €72,832 | -€230,086 | -€302,918 | |
| Financial charges | 65/66B | €63,407 | €59,721 | -€3,686 | -5.8% |
| Recurring financial charges | 65 | €63,407 | €59,721 | -€3,686 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €9,424 | -€289,808 | -€299,232 | |
| Income taxes | 67/77 | €5,247 | -€170 | -€5,416 | |
| Profit (loss) for the period | 9904 | €4,178 | -€289,638 | -€293,816 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,178 | -€289,638 | -€293,816 |
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 6 October 2026 via checked.be.