VJ-Holding: 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.
VJ-Holding
Largest movements
- Cash +€4,989
up €4,989 (+273%), from €1,829 to €6,818
mainly Net result for the year (+€6,291) and Current portion of long-term debt (+€4,269)
- Receivables within one year +€2,610
up €2,610 (+10.9%), from €23,990 to €26,600
of which Trade receivables: +€2,061
- Short-term financial debts -€7,886
down €7,886 (-94.8%), from €8,320 to €434
- Reserves +€7,000
up €7,000 (+117%), from €6,000 to €13,000
- Current portion of long-term debt +€4,269
new in 2025: €4,269
- Trade debts +€3,845
up €3,845 (+217%), from €1,771 to €5,616
- Tax, wage and social debts +€1,097
up €1,097 (+24.3%), from €4,512 to €5,609
of which Taxes: +€1,097
- Financial charges +€1,676
up €1,676 (+151%), from €1,111 to €2,787
- Gross operating margin +€1,058
up €1,058 (+9.4%), from €11,214 to €12,272
- Other operating charges +€471
up €471 (+52.5%), from €898 to €1,369
- Financial income +€397
up €397 (+70.0%), from €567 to €964
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.
Derived cash bridge
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 | €26,485 | €34,101 | +€7,616 | +28.8% |
| Current assets | 29/58 | €26,485 | €34,101 | +€7,616 | +28.8% |
| Amounts receivable within one year | 40/41 | €23,990 | €26,600 | +€2,610 | +10.9% |
| Trade receivables | 40 | €1,843 | €3,905 | +€2,061 | +112% |
| Other amounts receivable | 41 | €22,146 | €22,695 | +€549 | +2.5% |
| Cash at bank and in hand | 54/58 | €1,829 | €6,818 | +€4,989 | +273% |
| Deferred charges and accrued income | 490/1 | €667 | €683 | +€17 | +2.5% |
| Total equity and liabilities | 10/49 | €26,485 | €34,101 | +€7,616 | +28.8% |
| Equity | 10/15 | €11,882 | €18,173 | +€6,291 | +52.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €6,000 | €13,000 | +€7,000 | +117% |
| Distributable reserves | 133 | €6,000 | €13,000 | +€7,000 | +117% |
| Profit (loss) carried forward | 14 | €882 | €173 | -€709 | -80.4% |
| Amounts payable | 17/49 | €14,603 | €15,928 | +€1,325 | +9.1% |
| Amounts payable within one year | 42/48 | €14,603 | €15,928 | +€1,325 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | - | €4,269 | +€4,269 | |
| Financial debts | 43 | €8,320 | €434 | -€7,886 | -94.8% |
| Credit institutions | 430/8 | €8,320 | €434 | -€7,886 | -94.8% |
| Trade debts | 44 | €1,771 | €5,616 | +€3,845 | +217% |
| Suppliers | 440/4 | €1,771 | €5,616 | +€3,845 | +217% |
| Taxes, remuneration and social security | 45 | €4,512 | €5,609 | +€1,097 | +24.3% |
| Taxes | 450/3 | €3,012 | €4,109 | +€1,097 | +36.4% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other operating charges | 640/8 | €898 | €1,369 | +€471 | +52.5% |
| Gross operating margin | 9900 | €11,214 | €12,272 | +€1,058 | +9.4% |
| Operating profit (loss) | 9901 | €10,316 | €10,903 | +€587 | +5.7% |
| Financial income | 75/76B | €567 | €964 | +€397 | +70.0% |
| Recurring financial income | 75 | €567 | €964 | +€397 | +70.0% |
| Financial charges | 65/66B | €1,111 | €2,787 | +€1,676 | +151% |
| Recurring financial charges | 65 | €1,111 | €2,787 | +€1,676 | +151% |
| Profit (loss) for the period before taxes | 9903 | €9,772 | €9,080 | -€692 | -7.1% |
| Income taxes | 67/77 | €2,890 | €2,789 | -€101 | -3.5% |
| Profit (loss) for the period | 9904 | €6,882 | €6,291 | -€591 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,882 | €6,291 | -€591 | -8.6% |
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 26 October 2026 via checked.be.