J-VANU: 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.
J-VANU
Largest movements
- Cash -€86,425
down €86,425 (-50.3%), from €171,847 to €85,422
mainly Contributions, distributions and other (-€375,000) and Debts after one year (-€42,211)
- Tangible fixed assets +€9,423
up €9,423 (+463%), from €2,034 to €11,457
- Reserves -€192,048
down €192,048 (-79.8%), from €240,578 to €48,530
- Other debts +€152,150
up €152,150 (+2,551%), from €5,965 to €158,115
- Debts after one year -€42,211
down €42,211 (-14.4%), from €293,145 to €250,934
- Financial income +€50,000
up €50,000 (+50.0%), from €100,000 to €150,000
- Gross operating margin +€14,996
up €14,996 (+44.8%), from €33,450 to €48,445
- Taxes +€3,553
up €3,553 (+49.0%), from €7,253 to €10,805
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 | €601,381 | €524,379 | -€77,002 | -12.8% |
| Fixed assets | 21/28 | €429,534 | €438,957 | +€9,423 | +2.2% |
| Tangible fixed assets | 22/27 | €2,034 | €11,457 | +€9,423 | +463% |
| Other tangible fixed assets | 26 | €2,034 | €11,457 | +€9,423 | +463% |
| Financial fixed assets | 28 | €427,500 | €427,500 | = | 0.0% |
| Current assets | 29/58 | €171,847 | €85,422 | -€86,425 | -50.3% |
| Cash at bank and in hand | 54/58 | €171,847 | €85,422 | -€86,425 | -50.3% |
| Total equity and liabilities | 10/49 | €601,381 | €524,379 | -€77,002 | -12.8% |
| Equity | 10/15 | €245,578 | €53,530 | -€192,048 | -78.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €240,578 | €48,530 | -€192,048 | -79.8% |
| Distributable reserves | 133 | €240,578 | €48,530 | -€192,048 | -79.8% |
| Amounts payable | 17/49 | €355,803 | €470,849 | +€115,046 | +32.3% |
| Amounts payable after more than one year | 17 | €293,145 | €250,934 | -€42,211 | -14.4% |
| Financial debts | 170/4 | €293,145 | €250,934 | -€42,211 | -14.4% |
| Amounts payable within one year | 42/48 | €62,658 | €219,915 | +€157,257 | +251% |
| Current portion of amounts payable after more than one year | 42 | €41,798 | €42,211 | +€413 | +1.0% |
| Trade debts | 44 | €247 | €868 | +€621 | +252% |
| Suppliers | 440/4 | €247 | €868 | +€621 | +252% |
| Taxes, remuneration and social security | 45 | €14,648 | €18,721 | +€4,073 | +27.8% |
| Taxes | 450/3 | €14,648 | €18,721 | +€4,073 | +27.8% |
| Other amounts payable | 47/48 | €5,965 | €158,115 | +€152,150 | +2,551% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €275 | €377 | +€102 | +37.1% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €33,450 | €48,445 | +€14,996 | +44.8% |
| Operating profit (loss) | 9901 | €32,725 | €47,607 | +€14,881 | +45.5% |
| Financial income | 75/76B | €100,000 | €150,000 | +€50,000 | +50.0% |
| Recurring financial income | 75 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Financial charges | 65/66B | €4,217 | €3,850 | -€367 | -8.7% |
| Recurring financial charges | 65 | €4,217 | €3,850 | -€367 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €128,509 | €193,757 | +€65,249 | +50.8% |
| Income taxes | 67/77 | €7,253 | €10,805 | +€3,553 | +49.0% |
| Profit (loss) for the period | 9904 | €121,256 | €182,952 | +€61,696 | +50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €121,256 | €182,952 | +€61,696 | +50.9% |
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 19 October 2026 via checked.be.