VJ Projects: 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.
VJ Projects
Largest movements
- Receivables within one year -€13,007
down €13,007 (-20.1%), from €64,613 to €51,606
of which Trade receivables: -€26,007
- Tangible fixed assets -€8,842
no longer reported in 2025 (was €8,842)
- Trade debts -€23,037
down €23,037 (-82.0%), from €28,092 to €5,055
- Debts after one year +€3,859
new in 2025: €3,859
- Current portion of long-term debt -€1,369
down €1,369 (-27.3%), from €5,010 to €3,641
- Gross operating margin -€47,473
down €47,473 (-82.7%), from €57,400 to €9,927
- Taxes -€9,598
down €9,598 (-97.6%), from €9,834 to €236
- Staff costs -€2,873
down €2,873 (-49.5%), from €5,805 to €2,931
- Financial income -€787
down €787 (-100.0%), from €787 to €0
- Depreciation -€658
no longer reported in 2025 (was €658)
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 | €76,842 | €55,430 | -€21,412 | -27.9% |
| Fixed assets | 21/28 | €8,842 | - | -€8,842 | |
| Tangible fixed assets | 22/27 | €8,842 | - | -€8,842 | |
| Furniture and vehicles | 24 | €8,842 | - | -€8,842 | |
| Current assets | 29/58 | €68,000 | €55,430 | -€12,569 | -18.5% |
| Amounts receivable within one year | 40/41 | €64,613 | €51,606 | -€13,007 | -20.1% |
| Trade receivables | 40 | €32,351 | €6,344 | -€26,007 | -80.4% |
| Other amounts receivable | 41 | €32,261 | €45,261 | +€13,000 | +40.3% |
| Cash at bank and in hand | 54/58 | €3,387 | €3,825 | +€438 | +12.9% |
| Total equity and liabilities | 10/49 | €76,842 | €55,430 | -€21,412 | -27.9% |
| Equity | 10/15 | €39,428 | €39,041 | -€387 | -1.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €36,428 | €36,428 | = | 0.0% |
| Distributable reserves | 133 | €36,428 | €36,428 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€387 | -€387 | |
| Amounts payable | 17/49 | €37,414 | €16,389 | -€21,025 | -56.2% |
| Amounts payable after more than one year | 17 | - | €3,859 | +€3,859 | |
| Financial debts | 170/4 | - | €3,859 | +€3,859 | |
| Amounts payable within one year | 42/48 | €37,414 | €12,530 | -€24,884 | -66.5% |
| Current portion of amounts payable after more than one year | 42 | €5,010 | €3,641 | -€1,369 | -27.3% |
| Trade debts | 44 | €28,092 | €5,055 | -€23,037 | -82.0% |
| Suppliers | 440/4 | €28,092 | €5,055 | -€23,037 | -82.0% |
| Taxes, remuneration and social security | 45 | €4,312 | €3,834 | -€477 | -11.1% |
| Taxes | 450/3 | €3,834 | €3,834 | = | 0.0% |
| Remuneration and social security | 454/9 | €477 | - | -€477 | |
| Remuneration, social security and pensions | 62 | €5,805 | €2,931 | -€2,873 | -49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €658 | - | -€658 | |
| Other operating charges | 640/8 | €1,242 | €762 | -€480 | -38.6% |
| Non-recurring operating charges | 66A | €1,334 | €3,549 | +€2,215 | +166.0% |
| Gross operating margin | 9900 | €57,400 | €9,927 | -€47,473 | -82.7% |
| Operating profit (loss) | 9901 | €48,361 | €2,684 | -€45,677 | -94.5% |
| Financial income | 75/76B | €787 | €0 | -€787 | -100.0% |
| Recurring financial income | 75 | €787 | €0 | -€787 | -100.0% |
| Financial charges | 65/66B | €2,886 | €2,835 | -€52 | -1.8% |
| Recurring financial charges | 65 | €2,886 | €2,835 | -€52 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €46,262 | -€151 | -€46,413 | |
| Income taxes | 67/77 | €9,834 | €236 | -€9,598 | -97.6% |
| Profit (loss) for the period | 9904 | €36,428 | -€387 | -€36,815 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,428 | -€387 | -€36,815 |
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 6 October 2026 via checked.be.