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 -€346,286
down €346,286 (-17.7%), from €2.0m to €1.6m
of which Land and buildings: -€209,225
- Receivables within one year -€79,072
down €79,072 (-25.8%), from €306,977 to €227,904
of which Other amounts receivable: -€86,977
- Cash +€57,704
up €57,704 (+187.1%), from €30,838 to €88,541
mainly Investment in fixed assets (net) (+€235,311) and Net result for the year (+€144,874)
- Debts after one year -€687,572
down €687,572 (-90.2%), from €762,428 to €74,856
- Other debts +€139,529
up €139,529 (+22.5%), from €619,987 to €759,517
- Reserves +€125,000
up €125,000 (+28.4%), from €440,000 to €565,000
- Accrued charges and deferred income +€31,406
up €31,406 (+51.1%), from €61,418 to €92,824
- Gross operating margin +€255,386
up €255,386 (+90.7%), from €281,628 to €537,014
- Taxes +€47,078
up €47,078, from -€8,373 to €38,705
- Other operating charges -€6,640
down €6,640 (-21.7%), from €30,561 to €23,921
- Staff costs -€5,741
down €5,741 (-7.4%), from €77,076 to €71,335
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 | €2,298,538 | €1,932,655 | -€365,883 | -15.9% |
| Fixed assets | 21/28 | €1,957,247 | €1,610,960 | -€346,286 | -17.7% |
| Tangible fixed assets | 22/27 | €1,956,951 | €1,610,664 | -€346,286 | -17.7% |
| Land and buildings | 22 | €1,127,983 | €918,758 | -€209,225 | -18.5% |
| Plant, machinery and equipment | 23 | €11,244 | €6,862 | -€4,383 | -39.0% |
| Furniture and vehicles | 24 | €11,051 | €9,318 | -€1,733 | -15.7% |
| Other tangible fixed assets | 26 | €806,672 | €675,726 | -€130,946 | -16.2% |
| Financial fixed assets | 28 | €296 | €296 | = | 0.0% |
| Current assets | 29/58 | €341,291 | €321,695 | -€19,596 | -5.7% |
| Amounts receivable within one year | 40/41 | €306,977 | €227,904 | -€79,072 | -25.8% |
| Trade receivables | 40 | €86,385 | €94,290 | +€7,905 | +9.2% |
| Other amounts receivable | 41 | €220,592 | €133,614 | -€86,977 | -39.4% |
| Cash at bank and in hand | 54/58 | €30,838 | €88,541 | +€57,704 | +187.1% |
| Deferred charges and accrued income | 490/1 | €3,477 | €5,249 | +€1,772 | +51.0% |
| Total equity and liabilities | 10/49 | €2,298,538 | €1,932,655 | -€365,883 | -15.9% |
| Equity | 10/15 | €447,377 | €592,251 | +€144,874 | +32.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €440,000 | €565,000 | +€125,000 | +28.4% |
| Distributable reserves | 133 | €440,000 | €565,000 | +€125,000 | +28.4% |
| Profit (loss) carried forward | 14 | €1,177 | €21,051 | +€19,874 | +1688.8% |
| Amounts payable | 17/49 | €1,851,161 | €1,340,405 | -€510,756 | -27.6% |
| Amounts payable after more than one year | 17 | €762,428 | €74,856 | -€687,572 | -90.2% |
| Financial debts | 170/4 | €762,428 | €74,856 | -€687,572 | -90.2% |
| Amounts payable within one year | 42/48 | €1,027,315 | €1,172,725 | +€145,410 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €13,009 | €13,248 | +€239 | +1.8% |
| Financial debts | 43 | €320,000 | €320,000 | = | 0.0% |
| Credit institutions | 430/8 | €320,000 | €320,000 | = | 0.0% |
| Trade debts | 44 | €32,845 | €39,150 | +€6,304 | +19.2% |
| Suppliers | 440/4 | €32,845 | €39,150 | +€6,304 | +19.2% |
| Taxes, remuneration and social security | 45 | €41,473 | €40,810 | -€662 | -1.6% |
| Taxes | 450/3 | €24,907 | €30,553 | +€5,645 | +22.7% |
| Remuneration and social security | 454/9 | €16,566 | €10,258 | -€6,308 | -38.1% |
| Other amounts payable | 47/48 | €619,987 | €759,517 | +€139,529 | +22.5% |
| Accrued charges and deferred income | 492/3 | €61,418 | €92,824 | +€31,406 | +51.1% |
| Remuneration, social security and pensions | 62 | €77,076 | €71,335 | -€5,741 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,763 | €110,975 | -€788 | -0.7% |
| Other operating charges | 640/8 | €30,561 | €23,921 | -€6,640 | -21.7% |
| Non-recurring operating charges | 66A | €342 | €3,866 | +€3,524 | +1030.5% |
| Gross operating margin | 9900 | €281,628 | €537,014 | +€255,386 | +90.7% |
| Operating profit (loss) | 9901 | €61,886 | €326,917 | +€265,031 | +428.3% |
| Financial income | 75/76B | €1,165 | €1,284 | +€119 | +10.2% |
| Recurring financial income | 75 | €1,165 | €1,284 | +€119 | +10.2% |
| Financial charges | 65/66B | €139,291 | €144,622 | +€5,331 | +3.8% |
| Recurring financial charges | 65 | €139,291 | €144,622 | +€5,331 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | -€76,240 | €183,579 | +€259,819 | |
| Income taxes | 67/77 | -€8,373 | €38,705 | +€47,078 | |
| Profit (loss) for the period | 9904 | -€67,867 | €144,874 | +€212,741 | |
| Profit (loss) for the period to be appropriated | 9905 | -€67,867 | €144,874 | +€212,741 |
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.