VJF: 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.
VJF
Largest movements
- Cash +€37,103
up €37,103 (+8771.4%), from €423 to €37,526
mainly Net result for the year (+€25,923) and Receivables within one year (+€12,776)
- Receivables within one year -€12,776
down €12,776 (-42.0%), from €30,406 to €17,630
of which Other amounts receivable: -€8,731
- Tangible fixed assets -€9,211
no longer reported in 2025 (was €9,211)
of which Other tangible fixed assets: -€8,773
- Financial fixed assets -€2,140
down €2,140 (-100.0%), from €2,140 to €0
- Stocks and contracts -€1,811
no longer reported in 2025 (was €1,811)
- Reserves +€25,922
up €25,922 (+1393.7%), from €1,860 to €27,782
- Trade debts -€6,595
down €6,595 (-85.1%), from €7,754 to €1,159
- Current portion of long-term debt -€5,777
no longer reported in 2025 (was €5,777)
- Other debts -€5,354
down €5,354 (-48.7%), from €10,995 to €5,641
- Tax, wage and social debts +€2,579
up €2,579 (+1674.7%), from €154 to €2,733
- Gross operating margin +€36,603
up €36,603 (+243.1%), from €15,058 to €51,661
- Depreciation -€5,488
no longer reported in 2025 (was €5,488)
- Taxes +€2,599
up €2,599 (+1897.1%), from €137 to €2,736
- Financial charges -€1,099
down €1,099 (-51.9%), from €2,117 to €1,018
- Write-downs -€569
down €569 (-4.0%), from €14,183 to €13,614
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 | €44,649 | €55,424 | +€10,775 | +24.1% |
| Fixed assets | 21/28 | €11,351 | - | -€11,351 | |
| Tangible fixed assets | 22/27 | €9,211 | - | -€9,211 | |
| Plant, machinery and equipment | 23 | €438 | - | -€438 | |
| Other tangible fixed assets | 26 | €8,773 | - | -€8,773 | |
| Financial fixed assets | 28 | €2,140 | €0 | -€2,140 | -100.0% |
| Current assets | 29/58 | €33,298 | €55,424 | +€22,126 | +66.4% |
| Stocks and contracts in progress | 3 | €1,811 | - | -€1,811 | |
| Stocks | 30/36 | €1,811 | - | -€1,811 | |
| Amounts receivable within one year | 40/41 | €30,406 | €17,630 | -€12,776 | -42.0% |
| Trade receivables | 40 | €5,851 | €1,806 | -€4,045 | -69.1% |
| Other amounts receivable | 41 | €24,555 | €15,824 | -€8,731 | -35.6% |
| Cash at bank and in hand | 54/58 | €423 | €37,526 | +€37,103 | +8771.4% |
| Deferred charges and accrued income | 490/1 | €658 | €268 | -€390 | -59.3% |
| Total equity and liabilities | 10/49 | €44,649 | €55,424 | +€10,775 | +24.1% |
| Equity | 10/15 | €19,969 | €45,891 | +€25,922 | +129.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €27,782 | +€25,922 | +1393.7% |
| Distributable reserves | 133 | €1,860 | €27,782 | +€25,922 | +1393.7% |
| Profit (loss) carried forward | 14 | €5,709 | €5,709 | = | 0.0% |
| Amounts payable | 17/49 | €24,680 | €9,533 | -€15,147 | -61.4% |
| Amounts payable within one year | 42/48 | €24,680 | €9,533 | -€15,147 | -61.4% |
| Current portion of amounts payable after more than one year | 42 | €5,777 | - | -€5,777 | |
| Trade debts | 44 | €7,754 | €1,159 | -€6,595 | -85.1% |
| Suppliers | 440/4 | €7,754 | €1,159 | -€6,595 | -85.1% |
| Taxes, remuneration and social security | 45 | €154 | €2,733 | +€2,579 | +1674.7% |
| Taxes | 450/3 | €154 | €2,733 | +€2,579 | +1674.7% |
| Other amounts payable | 47/48 | €10,995 | €5,641 | -€5,354 | -48.7% |
| Non-recurring operating income | 76A | - | €49,537 | +€49,537 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,488 | - | -€5,488 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,183 | €13,614 | -€569 | -4.0% |
| Other operating charges | 640/8 | €412 | €469 | +€57 | +13.8% |
| Non-recurring operating charges | 66A | - | €8,748 | +€8,748 | |
| Gross operating margin | 9900 | €15,058 | €51,661 | +€36,603 | +243.1% |
| Operating profit (loss) | 9901 | -€5,025 | €28,830 | +€33,855 | |
| Financial income | 75/76B | €896 | €847 | -€49 | -5.5% |
| Recurring financial income | 75 | €896 | €847 | -€49 | -5.5% |
| Financial charges | 65/66B | €2,117 | €1,018 | -€1,099 | -51.9% |
| Recurring financial charges | 65 | €2,117 | €1,018 | -€1,099 | -51.9% |
| Profit (loss) for the period before taxes | 9903 | -€6,246 | €28,659 | +€34,905 | |
| Income taxes | 67/77 | €137 | €2,736 | +€2,599 | +1897.1% |
| Profit (loss) for the period | 9904 | -€6,383 | €25,923 | +€32,306 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,383 | €25,923 | +€32,306 |
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 28 September 2026 via checked.be.