VJMC: 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.
VJMC
Largest movements
- Cash -€53,497
down €53,497 (-14.3%), from €373,275 to €319,778
mainly Other debts (-€84,925) and Debts after one year (-€20,000)
- Tangible fixed assets -€13,858
down €13,858 (-25.3%), from €54,802 to €40,944
of which Furniture and vehicles: -€9,726
- Stocks and contracts -€10,450
down €10,450 (-2.8%), from €369,397 to €358,947
- Other debts -€84,925
down €84,925 (-91.3%), from €93,018 to €8,093
- Reserves +€51,836
up €51,836 (+8.3%), from €625,876 to €677,712
of which Distributable reserves: +€51,836
- Debts after one year -€20,000
down €20,000 (-73.6%), from €27,166 to €7,166
- Trade debts -€13,795
down €13,795 (-63.9%), from €21,578 to €7,783
- Gross operating margin -€21,032
down €21,032 (-10.5%), from €199,874 to €178,842
- Taxes -€8,515
down €8,515 (-31.0%), from €27,469 to €18,954
- Staff costs +€3,436
up €3,436 (+3.7%), from €91,917 to €95,353
- Other operating charges -€2,288
down €2,288 (-35.0%), from €6,533 to €4,245
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 | €1,027,344 | €961,166 | -€66,177 | -6.4% |
| Fixed assets | 21/28 | €72,402 | €58,544 | -€13,858 | -19.1% |
| Tangible fixed assets | 22/27 | €54,802 | €40,944 | -€13,858 | -25.3% |
| Plant, machinery and equipment | 23 | €4,033 | €7,609 | +€3,576 | +88.7% |
| Furniture and vehicles | 24 | €32,861 | €23,135 | -€9,726 | -29.6% |
| Other tangible fixed assets | 26 | €17,909 | €10,200 | -€7,709 | -43.0% |
| Financial fixed assets | 28 | €17,600 | €17,600 | = | 0.0% |
| Current assets | 29/58 | €954,941 | €902,622 | -€52,319 | -5.5% |
| Stocks and contracts in progress | 3 | €369,397 | €358,947 | -€10,450 | -2.8% |
| Stocks | 30/36 | €369,397 | €358,947 | -€10,450 | -2.8% |
| Amounts receivable within one year | 40/41 | €5,387 | €12,778 | +€7,391 | +137.2% |
| Trade receivables | 40 | €5,387 | €2,941 | -€2,446 | -45.4% |
| Other amounts receivable | 41 | - | €9,838 | +€9,838 | |
| Current investments | 50/53 | €201,217 | €206,797 | +€5,580 | +2.8% |
| Cash at bank and in hand | 54/58 | €373,275 | €319,778 | -€53,497 | -14.3% |
| Deferred charges and accrued income | 490/1 | €5,665 | €4,322 | -€1,344 | -23.7% |
| Total equity and liabilities | 10/49 | €1,027,344 | €961,166 | -€66,177 | -6.4% |
| Equity | 10/15 | €792,752 | €844,588 | +€51,836 | +6.5% |
| Contributions | 10/11 | €165,400 | €165,400 | = | 0.0% |
| Reserves | 13 | €625,876 | €677,712 | +€51,836 | +8.3% |
| Non-distributable reserves | 130/1 | €17,160 | €17,160 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,160 | €17,160 | = | 0.0% |
| Distributable reserves | 133 | €608,716 | €660,552 | +€51,836 | +8.5% |
| Profit (loss) carried forward | 14 | €1,475 | €1,475 | = | 0.0% |
| Amounts payable | 17/49 | €234,592 | €116,578 | -€118,014 | -50.3% |
| Amounts payable after more than one year | 17 | €27,166 | €7,166 | -€20,000 | -73.6% |
| Financial debts | 170/4 | €27,166 | €7,166 | -€20,000 | -73.6% |
| Amounts payable within one year | 42/48 | €181,862 | €78,268 | -€103,594 | -57.0% |
| Current portion of amounts payable after more than one year | 42 | €19,195 | €20,000 | +€805 | +4.2% |
| Financial debts | 43 | €3,370 | €0 | -€3,370 | -100.0% |
| Credit institutions | 430/8 | €3,370 | €0 | -€3,370 | -100.0% |
| Trade debts | 44 | €21,578 | €7,783 | -€13,795 | -63.9% |
| Suppliers | 440/4 | €21,578 | €7,783 | -€13,795 | -63.9% |
| Taxes, remuneration and social security | 45 | €44,701 | €42,391 | -€2,309 | -5.2% |
| Taxes | 450/3 | €25,204 | €19,644 | -€5,559 | -22.1% |
| Remuneration and social security | 454/9 | €19,497 | €22,747 | +€3,250 | +16.7% |
| Other amounts payable | 47/48 | €93,018 | €8,093 | -€84,925 | -91.3% |
| Accrued charges and deferred income | 492/3 | €25,564 | €31,145 | +€5,580 | +21.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €91,917 | €95,353 | +€3,436 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,835 | €18,358 | -€477 | -2.5% |
| Other operating charges | 640/8 | €6,533 | €4,245 | -€2,288 | -35.0% |
| Gross operating margin | 9900 | €199,874 | €178,842 | -€21,032 | -10.5% |
| Operating profit (loss) | 9901 | €82,589 | €60,886 | -€21,703 | -26.3% |
| Financial income | 75/76B | €13,231 | €12,746 | -€485 | -3.7% |
| Recurring financial income | 75 | €13,231 | €12,746 | -€485 | -3.7% |
| Financial charges | 65/66B | €3,200 | €2,842 | -€358 | -11.2% |
| Recurring financial charges | 65 | €3,200 | €2,842 | -€358 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €92,620 | €70,790 | -€21,830 | -23.6% |
| Income taxes | 67/77 | €27,469 | €18,954 | -€8,515 | -31.0% |
| Profit (loss) for the period | 9904 | €65,151 | €51,836 | -€13,315 | -20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,151 | €51,836 | -€13,315 | -20.4% |
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 10 October 2026 via checked.be.