V & J: 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.
V & J
Largest movements
- Cash -€25,675
down €25,675 (-17.9%), from €143,599 to €117,924
mainly Other debts (-€30,000) and Receivables within one year (-€19,325)
- Receivables within one year +€19,325
up €19,325 (+242.5%), from €7,970 to €27,295
of which Other amounts receivable: +€16,351
- Tangible fixed assets -€5,291
down €5,291 (-19.5%), from €27,124 to €21,832
of which Plant, machinery and equipment: -€6,865
- Stocks and contracts +€2,224
up €2,224 (+10.9%), from €20,475 to €22,699
- Other debts -€30,000
down €30,000 (-100.0%), from €30,000 to €0
- Accrued charges and deferred income +€28,000
up €28,000, from €0 to €28,000
- Tax, wage and social debts -€8,173
down €8,173 (-31.6%), from €25,833 to €17,660
of which Taxes: -€4,479
- Current portion of long-term debt -€7,264
down €7,264 (-61.2%), from €11,872 to €4,608
- Trade debts +€5,752
up €5,752 (+14.5%), from €39,661 to €45,413
- Gross operating margin -€27,114
down €27,114 (-7.9%), from €342,778 to €315,665
- Staff costs +€12,607
up €12,607 (+4.7%), from €271,058 to €283,665
- Other operating charges -€10,065
down €10,065 (-53.7%), from €18,750 to €8,685
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 | €199,168 | €189,750 | -€9,418 | -4.7% |
| Fixed assets | 21/28 | €27,124 | €21,832 | -€5,291 | -19.5% |
| Tangible fixed assets | 22/27 | €27,124 | €21,832 | -€5,291 | -19.5% |
| Land and buildings | 22 | €2,106 | €4,649 | +€2,543 | +120.7% |
| Plant, machinery and equipment | 23 | €23,593 | €16,728 | -€6,865 | -29.1% |
| Furniture and vehicles | 24 | €1,425 | €455 | -€970 | -68.1% |
| Current assets | 29/58 | €172,044 | €167,918 | -€4,126 | -2.4% |
| Stocks and contracts in progress | 3 | €20,475 | €22,699 | +€2,224 | +10.9% |
| Stocks | 30/36 | €20,475 | €22,699 | +€2,224 | +10.9% |
| Amounts receivable within one year | 40/41 | €7,970 | €27,295 | +€19,325 | +242.5% |
| Trade receivables | 40 | €0 | €2,974 | +€2,974 | |
| Other amounts receivable | 41 | €7,970 | €24,321 | +€16,351 | +205.2% |
| Cash at bank and in hand | 54/58 | €143,599 | €117,924 | -€25,675 | -17.9% |
| Total equity and liabilities | 10/49 | €199,168 | €189,750 | -€9,418 | -4.7% |
| Equity | 10/15 | €89,859 | €94,069 | +€4,210 | +4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,399 | €73,609 | +€4,210 | +6.1% |
| Amounts payable | 17/49 | €109,309 | €95,681 | -€13,628 | -12.5% |
| Amounts payable after more than one year | 17 | €1,943 | €0 | -€1,943 | -100.0% |
| Financial debts | 170/4 | €1,943 | €0 | -€1,943 | -100.0% |
| Amounts payable within one year | 42/48 | €107,366 | €67,681 | -€39,685 | -37.0% |
| Current portion of amounts payable after more than one year | 42 | €11,872 | €4,608 | -€7,264 | -61.2% |
| Trade debts | 44 | €39,661 | €45,413 | +€5,752 | +14.5% |
| Suppliers | 440/4 | €39,661 | €45,413 | +€5,752 | +14.5% |
| Taxes, remuneration and social security | 45 | €25,833 | €17,660 | -€8,173 | -31.6% |
| Taxes | 450/3 | €19,704 | €15,225 | -€4,479 | -22.7% |
| Remuneration and social security | 454/9 | €6,129 | €2,435 | -€3,694 | -60.3% |
| Other amounts payable | 47/48 | €30,000 | €0 | -€30,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | €28,000 | +€28,000 | |
| Remuneration, social security and pensions | 62 | €271,058 | €283,665 | +€12,607 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,409 | €10,056 | -€2,353 | -19.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €18,750 | €8,685 | -€10,065 | -53.7% |
| Gross operating margin | 9900 | €342,778 | €315,665 | -€27,114 | -7.9% |
| Operating profit (loss) | 9901 | €40,562 | €13,259 | -€27,303 | -67.3% |
| Financial income | 75/76B | €395 | €1,322 | +€927 | +234.6% |
| Recurring financial income | 75 | €395 | €1,322 | +€927 | +234.6% |
| Financial charges | 65/66B | €4,106 | €4,533 | +€427 | +10.4% |
| Recurring financial charges | 65 | €4,106 | €4,533 | +€427 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €36,851 | €10,049 | -€26,803 | -72.7% |
| Income taxes | 67/77 | €4,679 | €5,838 | +€1,159 | +24.8% |
| Profit (loss) for the period | 9904 | €32,172 | €4,210 | -€27,962 | -86.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,172 | €4,210 | -€27,962 | -86.9% |
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 7 October 2026 via checked.be.