JVW-Group: what changed
JVW-Group
Largest movements
- Tangible fixed assets +€181,784
up €181,784 (+142%), from €128,368 to €310,152
of which Land and buildings: +€200,028
- Intangible fixed assets -€100,000
down €100,000 (-12.5%), from €800,274 to €700,274
- Cash -€40,032
down €40,032 (-31.3%), from €128,046 to €88,015
mainly Investment in fixed assets (net) (-€212,136) and Receivables after one year (-€20,000)
- Receivables after one year +€20,000
new in 2025: €20,000
- Receivables within one year +€13,495
up €13,495 (+33.7%), from €40,000 to €53,496
- Debts after one year +€26,442
up €26,442 (+2.9%), from €917,142 to €943,584
- Current portion of long-term debt +€24,621
up €24,621 (+24.2%), from €101,849 to €126,470
- Reserves +€14,152
up €14,152 (+32.1%), from €44,035 to €58,187
- Accrued charges and deferred income +€13,101
up €13,101 (+94.6%), from €13,848 to €26,949
- Gross operating margin +€40,995
up €40,995 (+16.4%), from €250,221 to €291,216
- Depreciation +€21,568
up €21,568 (+19.8%), from €108,784 to €130,352
- Taxes +€21,266
up €21,266 (+331%), from €6,423 to €27,689
- Other operating charges +€17,932
up €17,932 (+220%), from €8,136 to €26,068
- Staff costs +€3,031
up €3,031 (+4.6%), from €65,838 to €68,869
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,097,820 | €1,176,447 | +€78,627 | +7.2% |
| Fixed assets | 21/28 | €928,642 | €1,010,426 | +€81,784 | +8.8% |
| Intangible fixed assets | 21 | €800,274 | €700,274 | -€100,000 | -12.5% |
| Tangible fixed assets | 22/27 | €128,368 | €310,152 | +€181,784 | +142% |
| Land and buildings | 22 | - | €200,028 | +€200,028 | |
| Plant, machinery and equipment | 23 | €1,587 | €4,846 | +€3,260 | +205% |
| Furniture and vehicles | 24 | €126,781 | €105,277 | -€21,504 | -17.0% |
| Current assets | 29/58 | €169,178 | €166,021 | -€3,157 | -1.9% |
| Amounts receivable after more than one year | 29 | - | €20,000 | +€20,000 | |
| Trade receivables | 290 | - | €20,000 | +€20,000 | |
| Amounts receivable within one year | 40/41 | €40,000 | €53,496 | +€13,495 | +33.7% |
| Trade receivables | 40 | €40,000 | €53,496 | +€13,495 | +33.7% |
| Cash at bank and in hand | 54/58 | €128,046 | €88,015 | -€40,032 | -31.3% |
| Deferred charges and accrued income | 490/1 | €1,132 | €4,511 | +€3,380 | +299% |
| Total equity and liabilities | 10/49 | €1,097,820 | €1,176,447 | +€78,627 | +7.2% |
| Equity | 10/15 | €51,035 | €65,187 | +€14,152 | +27.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €44,035 | €58,187 | +€14,152 | +32.1% |
| Distributable reserves | 133 | €44,035 | €58,187 | +€14,152 | +32.1% |
| Amounts payable | 17/49 | €1,046,786 | €1,111,260 | +€64,475 | +6.2% |
| Amounts payable after more than one year | 17 | €917,142 | €943,584 | +€26,442 | +2.9% |
| Financial debts | 170/4 | €917,142 | €943,584 | +€26,442 | +2.9% |
| Amounts payable within one year | 42/48 | €115,795 | €140,727 | +€24,932 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €101,849 | €126,470 | +€24,621 | +24.2% |
| Trade debts | 44 | €1,905 | €1,684 | -€221 | -11.6% |
| Suppliers | 440/4 | €1,905 | €1,684 | -€221 | -11.6% |
| Taxes, remuneration and social security | 45 | €8,421 | €8,815 | +€394 | +4.7% |
| Remuneration and social security | 454/9 | €8,421 | €8,815 | +€394 | +4.7% |
| Other amounts payable | 47/48 | €3,621 | €3,759 | +€138 | +3.8% |
| Accrued charges and deferred income | 492/3 | €13,848 | €26,949 | +€13,101 | +94.6% |
| Remuneration, social security and pensions | 62 | €65,838 | €68,869 | +€3,031 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,784 | €130,352 | +€21,568 | +19.8% |
| Other operating charges | 640/8 | €8,136 | €26,068 | +€17,932 | +220% |
| Gross operating margin | 9900 | €250,221 | €291,216 | +€40,995 | +16.4% |
| Operating profit (loss) | 9901 | €67,464 | €65,927 | -€1,536 | -2.3% |
| Financial income | 75/76B | €864 | €1,297 | +€433 | +50.1% |
| Recurring financial income | 75 | €864 | €1,297 | +€433 | +50.1% |
| Financial charges | 65/66B | €24,724 | €25,383 | +€659 | +2.7% |
| Recurring financial charges | 65 | €24,724 | €25,383 | +€659 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €43,603 | €41,841 | -€1,762 | -4.0% |
| Income taxes | 67/77 | €6,423 | €27,689 | +€21,266 | +331% |
| Profit (loss) for the period | 9904 | €37,180 | €14,152 | -€23,028 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,180 | €14,152 | -€23,028 | -61.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.