VJM IMMO: 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.
VJM IMMO
Largest movements
- Stocks and contracts -€907,643
down €907,643 (-61.4%), from €1.5m to €569,705
- Receivables within one year +€122,822
new in 2025: €122,822
of which Trade receivables: +€90,000
- Debts after one year -€495,425
down €495,425 (-53.4%), from €928,623 to €433,197
- Other debts -€241,352
down €241,352 (-71.1%), from €339,557 to €98,205
- Current portion of long-term debt -€182,197
down €182,197 (-98.5%), from €185,000 to €2,803
- Trade debts +€66,914
up €66,914 (+90.5%), from €73,964 to €140,878
- Profit (loss) carried forward +€36,152
up €36,152 (+88.3%), from -€40,957 to -€4,805
- Gross operating margin +€86,639
up €86,639, from -€16,169 to €70,469
- Financial charges +€10,664
up €10,664 (+47.2%), from €22,595 to €33,259
- Financial income +€843
new in 2025: €843
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 | €1,511,186 | €720,278 | -€790,908 | -52.3% |
| Current assets | 29/58 | €1,511,186 | €720,278 | -€790,908 | -52.3% |
| Stocks and contracts in progress | 3 | €1,477,349 | €569,705 | -€907,643 | -61.4% |
| Stocks | 30/36 | €1,477,349 | €569,705 | -€907,643 | -61.4% |
| Amounts receivable within one year | 40/41 | - | €122,822 | +€122,822 | |
| Trade receivables | 40 | - | €90,000 | +€90,000 | |
| Other amounts receivable | 41 | - | €32,822 | +€32,822 | |
| Cash at bank and in hand | 54/58 | €33,782 | €27,751 | -€6,031 | -17.9% |
| Deferred charges and accrued income | 490/1 | €55 | €0 | -€55 | -100% |
| Total equity and liabilities | 10/49 | €1,511,186 | €720,278 | -€790,908 | -52.3% |
| Equity | 10/15 | -€15,957 | €45,195 | +€61,152 | |
| Contributions | 10/11 | €25,000 | €50,000 | +€25,000 | +100% |
| Profit (loss) carried forward | 14 | -€40,957 | -€4,805 | +€36,152 | +88.3% |
| Amounts payable | 17/49 | €1,527,143 | €675,083 | -€852,060 | -55.8% |
| Amounts payable after more than one year | 17 | €928,623 | €433,197 | -€495,425 | -53.4% |
| Financial debts | 170/4 | €928,623 | €433,197 | -€495,425 | -53.4% |
| Amounts payable within one year | 42/48 | €598,521 | €241,886 | -€356,635 | -59.6% |
| Current portion of amounts payable after more than one year | 42 | €185,000 | €2,803 | -€182,197 | -98.5% |
| Trade debts | 44 | €73,964 | €140,878 | +€66,914 | +90.5% |
| Suppliers | 440/4 | €73,964 | €140,878 | +€66,914 | +90.5% |
| Other amounts payable | 47/48 | €339,557 | €98,205 | -€241,352 | -71.1% |
| Other operating charges | 640/8 | €2,193 | €1,902 | -€292 | -13.3% |
| Gross operating margin | 9900 | -€16,169 | €70,469 | +€86,639 | |
| Operating profit (loss) | 9901 | -€18,362 | €68,568 | +€86,930 | |
| Financial income | 75/76B | - | €843 | +€843 | |
| Recurring financial income | 75 | - | €843 | +€843 | |
| Financial charges | 65/66B | €22,595 | €33,259 | +€10,664 | +47.2% |
| Recurring financial charges | 65 | €22,595 | €33,259 | +€10,664 | +47.2% |
| Profit (loss) for the period before taxes | 9903 | -€40,957 | €36,152 | +€77,109 | |
| Profit (loss) for the period | 9904 | -€40,957 | €36,152 | +€77,109 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,957 | €36,152 | +€77,109 |
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 16 October 2026 via checked.be.