VJRH: 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.
VJRH
Largest movements
- Cash -€44,536
down €44,536 (-17.0%), from €262,176 to €217,640
mainly Contributions, distributions and other (-€175,650) and Receivables within one year (-€9,508)
- Reserves -€50,287
down €50,287 (-1.5%), from €3.3m to €3.2m
- Gross operating margin +€53,822
up €53,822 (+46.3%), from €116,238 to €170,060
- Financial income +€30,489
up €30,489 (+807%), from €3,777 to €34,266
- Taxes +€16,929
up €16,929 (+49.9%), from €33,932 to €50,861
- Depreciation +€11,685
up €11,685 (+78.0%), from €14,980 to €26,665
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 | €3,301,875 | €3,246,173 | -€55,702 | -1.7% |
| Fixed assets | 21/28 | €115,094 | €94,343 | -€20,751 | -18.0% |
| Tangible fixed assets | 22/27 | €112,364 | €91,613 | -€20,751 | -18.5% |
| Plant, machinery and equipment | 23 | €3,115 | €3,119 | +€4 | +0.1% |
| Furniture and vehicles | 24 | €109,248 | €84,240 | -€25,008 | -22.9% |
| Other tangible fixed assets | 26 | - | €4,254 | +€4,254 | |
| Financial fixed assets | 28 | €2,730 | €2,730 | = | 0.0% |
| Current assets | 29/58 | €3,186,781 | €3,151,831 | -€34,951 | -1.1% |
| Amounts receivable within one year | 40/41 | €22,684 | €32,191 | +€9,508 | +41.9% |
| Other amounts receivable | 41 | €22,684 | €32,191 | +€9,508 | +41.9% |
| Current investments | 50/53 | €2,900,000 | €2,900,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €262,176 | €217,640 | -€44,536 | -17.0% |
| Deferred charges and accrued income | 490/1 | €1,921 | €1,999 | +€77 | +4.0% |
| Total equity and liabilities | 10/49 | €3,301,875 | €3,246,173 | -€55,702 | -1.7% |
| Equity | 10/15 | €3,294,553 | €3,244,266 | -€50,287 | -1.5% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €3,276,496 | €3,226,209 | -€50,287 | -1.5% |
| Distributable reserves | 133 | €3,276,496 | €3,226,209 | -€50,287 | -1.5% |
| Profit (loss) carried forward | 14 | €5,057 | €5,057 | = | 0.0% |
| Amounts payable | 17/49 | €7,322 | €1,908 | -€5,414 | -73.9% |
| Amounts payable within one year | 42/48 | €6,541 | €1,124 | -€5,417 | -82.8% |
| Trade debts | 44 | €6,541 | €1,124 | -€5,417 | -82.8% |
| Suppliers | 440/4 | €6,541 | €1,124 | -€5,417 | -82.8% |
| Accrued charges and deferred income | 492/3 | €781 | €783 | +€3 | +0.3% |
| Non-recurring operating income | 76A | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,980 | €26,665 | +€11,685 | +78.0% |
| Other operating charges | 640/8 | €1,212 | €1,297 | +€85 | +7.0% |
| Gross operating margin | 9900 | €116,238 | €170,060 | +€53,822 | +46.3% |
| Operating profit (loss) | 9901 | €100,046 | €142,098 | +€42,052 | +42.0% |
| Financial income | 75/76B | €3,777 | €34,266 | +€30,489 | +807% |
| Recurring financial income | 75 | €3,777 | €34,266 | +€30,489 | +807% |
| Financial charges | 65/66B | €120 | €140 | +€20 | +16.7% |
| Recurring financial charges | 65 | €120 | €140 | +€20 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €103,703 | €176,224 | +€72,521 | +69.9% |
| Income taxes | 67/77 | €33,932 | €50,861 | +€16,929 | +49.9% |
| Profit (loss) for the period | 9904 | €69,772 | €125,363 | +€55,591 | +79.7% |
| Profit (loss) for the period to be appropriated | 9905 | €69,772 | €125,363 | +€55,591 | +79.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.