AB J.M.: 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.
AB J.M.
Largest movements
- Cash -€216,497
down €216,497 (-55.3%), from €391,407 to €174,909
mainly Current investments (-€188,118) and Investment in fixed assets (net) (-€24,793)
- Current investments +€188,118
new in 2025: €188,118
- Receivables within one year +€23,808
up €23,808 (+150%), from €15,866 to €39,673
of which Other amounts receivable: +€15,553
- Tangible fixed assets +€22,127
up €22,127, from €0 to €22,127
of which Furniture and vehicles: +€22,127
- Reserves +€18,164
up €18,164 (+4.8%), from €378,600 to €396,763
of which Distributable reserves: +€20,024
- Gross operating margin -€75,416
down €75,416 (-70.2%), from €107,379 to €31,963
- Taxes -€24,941
down €24,941 (-74.4%), from €33,519 to €8,578
- Depreciation +€2,439
up €2,439 (+1,075%), from €227 to €2,666
- Other operating charges +€1,100
up €1,100 (+239%), from €460 to €1,561
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 | €407,452 | €424,968 | +€17,515 | +4.3% |
| Fixed assets | 21/28 | €0 | €22,127 | +€22,127 | |
| Tangible fixed assets | 22/27 | €0 | €22,127 | +€22,127 | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | - | €22,127 | +€22,127 | |
| Current assets | 29/58 | €407,452 | €402,841 | -€4,611 | -1.1% |
| Amounts receivable within one year | 40/41 | €15,866 | €39,673 | +€23,808 | +150% |
| Trade receivables | 40 | €14,754 | €23,008 | +€8,255 | +55.9% |
| Other amounts receivable | 41 | €1,112 | €16,665 | +€15,553 | +1,399% |
| Current investments | 50/53 | - | €188,118 | +€188,118 | |
| Cash at bank and in hand | 54/58 | €391,407 | €174,909 | -€216,497 | -55.3% |
| Deferred charges and accrued income | 490/1 | €180 | €141 | -€39 | -21.7% |
| Total equity and liabilities | 10/49 | €407,452 | €424,968 | +€17,515 | +4.3% |
| Equity | 10/15 | €384,800 | €402,963 | +€18,164 | +4.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €378,600 | €396,763 | +€18,164 | +4.8% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €376,740 | €396,763 | +€20,024 | +5.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,653 | €22,005 | -€648 | -2.9% |
| Amounts payable within one year | 42/48 | €22,653 | €22,005 | -€648 | -2.9% |
| Trade debts | 44 | €995 | €3,131 | +€2,136 | +215% |
| Suppliers | 440/4 | €995 | €3,131 | +€2,136 | +215% |
| Taxes, remuneration and social security | 45 | €3,994 | €318 | -€3,676 | -92.0% |
| Taxes | 450/3 | €3,994 | €318 | -€3,676 | -92.0% |
| Other amounts payable | 47/48 | €17,664 | €18,555 | +€891 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €227 | €2,666 | +€2,439 | +1,075% |
| Other operating charges | 640/8 | €460 | €1,561 | +€1,100 | +239% |
| Gross operating margin | 9900 | €107,379 | €31,963 | -€75,416 | -70.2% |
| Operating profit (loss) | 9901 | €106,692 | €27,737 | -€78,955 | -74.0% |
| Financial income | 75/76B | €305 | €1,312 | +€1,007 | +330% |
| Recurring financial income | 75 | €305 | €1,312 | +€1,007 | +330% |
| Financial charges | 65/66B | €1,652 | €2,307 | +€655 | +39.7% |
| Recurring financial charges | 65 | €1,652 | €2,307 | +€655 | +39.7% |
| Profit (loss) for the period before taxes | 9903 | €105,345 | €26,741 | -€78,604 | -74.6% |
| Income taxes | 67/77 | €33,519 | €8,578 | -€24,941 | -74.4% |
| Profit (loss) for the period | 9904 | €71,826 | €18,164 | -€53,663 | -74.7% |
| Profit (loss) for the period to be appropriated | 9905 | €71,826 | €18,164 | -€53,663 | -74.7% |
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 20 October 2026 via checked.be.