VJG: 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.
VJG
Largest movements
- Cash +€52,541
up €52,541 (+92.2%), from €57,001 to €109,542
mainly Debts after one year (+€70,360) and Net result for the year (+€61,892)
- Tangible fixed assets +€48,102
up €48,102 (+179.7%), from €26,761 to €74,863
of which Plant, machinery and equipment: +€47,378
- Receivables after one year +€40,000
new in 2025: €40,000
- Receivables within one year +€3,955
up €3,955 (+20.4%), from €19,404 to €23,360
of which Other amounts receivable: +€15,382
- Debts after one year +€70,360
new in 2025: €70,360
- Reserves +€61,059
up €61,059 (+93.8%), from €65,091 to €126,150
- Current portion of long-term debt +€33,618
up €33,618 (+654.2%), from €5,139 to €38,757
- Other debts -€16,782
down €16,782 (-92.6%), from €18,114 to €1,332
- Tax, wage and social debts -€2,496
down €2,496 (-37.7%), from €6,629 to €4,133
of which Remuneration and social security: -€2,738
- Gross operating margin +€93,019
up €93,019 (+247.3%), from €37,607 to €130,626
- Financial charges +€13,035
up €13,035 (+1003.5%), from €1,299 to €14,334
- Taxes +€12,565
up €12,565 (+440.0%), from €2,855 to €15,420
- Depreciation +€4,713
up €4,713 (+45.2%), from €10,417 to €15,130
- Financial income +€1,498
up €1,498 (+342.7%), from €437 to €1,936
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 | €104,507 | €248,386 | +€143,880 | +137.7% |
| Fixed assets | 21/28 | €26,761 | €74,863 | +€48,102 | +179.7% |
| Tangible fixed assets | 22/27 | €26,761 | €74,863 | +€48,102 | +179.7% |
| Plant, machinery and equipment | 23 | €8,850 | €56,228 | +€47,378 | +535.3% |
| Furniture and vehicles | 24 | €17,911 | €17,715 | -€197 | -1.1% |
| Other tangible fixed assets | 26 | - | €920 | +€920 | |
| Current assets | 29/58 | €77,746 | €173,524 | +€95,778 | +123.2% |
| Amounts receivable after more than one year | 29 | - | €40,000 | +€40,000 | |
| Other amounts receivable | 291 | - | €40,000 | +€40,000 | |
| Amounts receivable within one year | 40/41 | €19,404 | €23,360 | +€3,955 | +20.4% |
| Trade receivables | 40 | €11,426 | - | -€11,426 | |
| Other amounts receivable | 41 | €7,978 | €23,360 | +€15,382 | +192.8% |
| Cash at bank and in hand | 54/58 | €57,001 | €109,542 | +€52,541 | +92.2% |
| Deferred charges and accrued income | 490/1 | €1,340 | €622 | -€718 | -53.6% |
| Total equity and liabilities | 10/49 | €104,507 | €248,386 | +€143,880 | +137.7% |
| Equity | 10/15 | €69,591 | €130,650 | +€61,059 | +87.7% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €65,091 | €126,150 | +€61,059 | +93.8% |
| Distributable reserves | 133 | €65,091 | €126,150 | +€61,059 | +93.8% |
| Amounts payable | 17/49 | €34,915 | €117,737 | +€82,821 | +237.2% |
| Amounts payable after more than one year | 17 | - | €70,360 | +€70,360 | |
| Financial debts | 170/4 | - | €70,360 | +€70,360 | |
| Amounts payable within one year | 42/48 | €31,515 | €45,977 | +€14,461 | +45.9% |
| Current portion of amounts payable after more than one year | 42 | €5,139 | €38,757 | +€33,618 | +654.2% |
| Trade debts | 44 | €1,633 | €1,755 | +€121 | +7.4% |
| Suppliers | 440/4 | €1,633 | €1,755 | +€121 | +7.4% |
| Taxes, remuneration and social security | 45 | €6,629 | €4,133 | -€2,496 | -37.7% |
| Taxes | 450/3 | €172 | €414 | +€242 | +140.8% |
| Remuneration and social security | 454/9 | €6,457 | €3,719 | -€2,738 | -42.4% |
| Other amounts payable | 47/48 | €18,114 | €1,332 | -€16,782 | -92.6% |
| Accrued charges and deferred income | 492/3 | €3,400 | €1,400 | -€2,000 | -58.8% |
| Remuneration, social security and pensions | 62 | €14,907 | €15,664 | +€757 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,417 | €15,130 | +€4,713 | +45.2% |
| Other operating charges | 640/8 | €497 | €967 | +€470 | +94.7% |
| Non-recurring operating charges | 66A | €116 | €9,155 | +€9,039 | +7785.6% |
| Gross operating margin | 9900 | €37,607 | €130,626 | +€93,019 | +247.3% |
| Operating profit (loss) | 9901 | €11,670 | €89,710 | +€78,039 | +668.7% |
| Financial income | 75/76B | €437 | €1,936 | +€1,498 | +342.7% |
| Recurring financial income | 75 | €437 | €1,936 | +€1,498 | +342.7% |
| Financial charges | 65/66B | €1,299 | €14,334 | +€13,035 | +1003.5% |
| Recurring financial charges | 65 | €1,299 | €14,334 | +€13,035 | +1003.5% |
| Profit (loss) for the period before taxes | 9903 | €10,809 | €77,312 | +€66,503 | +615.3% |
| Income taxes | 67/77 | €2,855 | €15,420 | +€12,565 | +440.0% |
| Profit (loss) for the period | 9904 | €7,953 | €61,892 | +€53,939 | +678.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,953 | €61,892 | +€53,939 | +678.2% |
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 9 October 2026 via checked.be.