VJ MANAGEMENT: 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 MANAGEMENT
Largest movements
- Tangible fixed assets -€8,834
down €8,834 (-82.6%), from €10,697 to €1,863
of which Furniture and vehicles: -€7,643
- Receivables within one year -€2,772
down €2,772 (-11.9%), from €23,268 to €20,496
of which Trade receivables: -€5,547
- Cash +€2,528
up €2,528 (+248%), from €1,020 to €3,548
mainly Investment in fixed assets (net) (+€7,365) and Receivables within one year (+€2,772)
- Deferred charges and accrued income -€1,761
no longer reported in 2025 (was €1,761)
- Reserves -€9,882
down €9,882 (-41.7%), from €23,694 to €13,813
of which Tax-exempt reserves: -€7,312
- Tax, wage and social debts -€875
down €875 (-55.8%), from €1,569 to €694
of which Taxes: -€655
- Gross operating margin -€10,896
down €10,896 (-68.6%), from €15,890 to €4,994
- Depreciation -€3,647
down €3,647 (-71.3%), from €5,116 to €1,469
- Taxes -€2,309
down €2,309 (-66.1%), from €3,491 to €1,182
- Other operating charges -€606
down €606 (-35.3%), from €1,717 to €1,110
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 | €37,445 | €26,606 | -€10,839 | -28.9% |
| Fixed assets | 21/28 | €11,396 | €2,562 | -€8,834 | -77.5% |
| Tangible fixed assets | 22/27 | €10,697 | €1,863 | -€8,834 | -82.6% |
| Plant, machinery and equipment | 23 | €2,913 | €1,722 | -€1,191 | -40.9% |
| Furniture and vehicles | 24 | €7,784 | €140 | -€7,643 | -98.2% |
| Financial fixed assets | 28 | €699 | €699 | = | 0.0% |
| Current assets | 29/58 | €26,049 | €24,044 | -€2,005 | -7.7% |
| Amounts receivable within one year | 40/41 | €23,268 | €20,496 | -€2,772 | -11.9% |
| Trade receivables | 40 | €7,507 | €1,960 | -€5,547 | -73.9% |
| Other amounts receivable | 41 | €15,761 | €18,536 | +€2,775 | +17.6% |
| Cash at bank and in hand | 54/58 | €1,020 | €3,548 | +€2,528 | +248% |
| Deferred charges and accrued income | 490/1 | €1,761 | - | -€1,761 | |
| Total equity and liabilities | 10/49 | €37,445 | €26,606 | -€10,839 | -28.9% |
| Equity | 10/15 | €30,204 | €20,323 | -€9,882 | -32.7% |
| Contributions | 10/11 | €6,510 | €6,510 | = | 0.0% |
| Reserves | 13 | €23,694 | €13,813 | -€9,882 | -41.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,312 | - | -€7,312 | |
| Distributable reserves | 133 | €14,522 | €11,953 | -€2,570 | -17.7% |
| Amounts payable | 17/49 | €7,241 | €6,284 | -€957 | -13.2% |
| Amounts payable within one year | 42/48 | €7,241 | €6,284 | -€957 | -13.2% |
| Trade debts | 44 | €1,457 | €1,425 | -€32 | -2.2% |
| Suppliers | 440/4 | €1,457 | €1,425 | -€32 | -2.2% |
| Taxes, remuneration and social security | 45 | €1,569 | €694 | -€875 | -55.8% |
| Taxes | 450/3 | €1,348 | €694 | -€655 | -48.5% |
| Remuneration and social security | 454/9 | €220 | - | -€220 | |
| Other amounts payable | 47/48 | €4,215 | €4,165 | -€50 | -1.2% |
| Non-recurring operating income | 76A | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,116 | €1,469 | -€3,647 | -71.3% |
| Other operating charges | 640/8 | €1,717 | €1,110 | -€606 | -35.3% |
| Non-recurring operating charges | 66A | - | €6,865 | +€6,865 | |
| Gross operating margin | 9900 | €15,890 | €4,994 | -€10,896 | -68.6% |
| Operating profit (loss) | 9901 | €9,057 | -€4,451 | -€13,508 | |
| Financial charges | 65/66B | €4 | €84 | +€80 | +2,194% |
| Recurring financial charges | 65 | €4 | €84 | +€80 | +2,194% |
| Profit (loss) for the period before taxes | 9903 | €9,054 | -€4,535 | -€13,589 | |
| Income taxes | 67/77 | €3,491 | €1,182 | -€2,309 | -66.1% |
| Profit (loss) for the period | 9904 | €5,563 | -€5,717 | -€11,280 | |
| Transfer from tax-exempt reserves | 789 | - | €7,312 | +€7,312 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,563 | €1,595 | -€3,968 | -71.3% |
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 20 October 2026 via checked.be.