ATELIER 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.
What changed
ATELIER J&M
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€78,268
2024 · €88,136-€166,404
Equity
€1.9m
2024 · €2.0m-€78,268
Cash
€57,349
2024 · €60,682-€3,333
Balance sheet total
€7.9m
2024 · €8.5m-€592,833
Largest movements
Assets
- Current investments -€200,000
down €200,000 (-13.3%), from €1.5m to €1.3m
- Tangible fixed assets -€188,513
down €188,513 (-3.4%), from €5.5m to €5.3m
- Intangible fixed assets -€162,726
down €162,726 (-100%), from €162,726 to €0
Equity and liabilities
- Debts after one year -€546,212
down €546,212 (-11.1%), from €4.9m to €4.4m
Income statement
- Gross operating margin +€38,514
up €38,514 (+8.0%), from €480,083 to €518,597
- Financial income -€26,696
down €26,696 (-50.6%), from €52,713 to €26,017
of which Financial income: -€26,696
- Financial charges +€9,646
up €9,646 (+9.0%), from €107,639 to €117,286
- Taxes +€5,290
up €5,290 (+15.4%), from €34,254 to €39,544
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.
Result 2024
€88,136
Gross operating margin
+€38,514
Depreciation
+€3,273
Other operating charges
+€1,167
Other operating items
-€167,726
Financial income
-€26,696
Financial charges
-€9,646
Taxes
-€5,290
Result 2025
-€78,268
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€162,142
Investment
+€335,226
Financing
-€500,700
Cash 2024
€60,682
From operations (derived)
+€162,142
Net result for the year
-€78,268
Depreciation
+€216,013
Receivables after one year
-€30,000
Receivables within one year
+€66,830
Deferred charges and accrued income
+€1,432
Provisions
-€3,685
Trade debts
-€49,991
Tax, wage and social debts
+€38,175
Other debts
+€236
Accrued charges and deferred income
+€1,401
Investment (derived)
+€335,226
Investment in fixed assets (net)
+€135,226
Current investments
+€200,000
Financing
-€500,700
Debts after one year
-€546,212
Current portion of long-term debt
+€11,058
Short-term financial debts
+€34,454
Cash 2025
€57,349
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,467,264 | €7,874,430 | -€592,833 | -7.0% |
| Fixed assets | 21/28 | €5,662,046 | €5,310,807 | -€351,239 | -6.2% |
| Intangible fixed assets | 21 | €162,726 | €0 | -€162,726 | -100% |
| Tangible fixed assets | 22/27 | €5,499,320 | €5,310,807 | -€188,513 | -3.4% |
| Land and buildings | 22 | €5,499,320 | €5,310,807 | -€188,513 | -3.4% |
| Current assets | 29/58 | €2,805,218 | €2,563,623 | -€241,595 | -8.6% |
| Amounts receivable after more than one year | 29 | €1,075,000 | €1,105,000 | +€30,000 | +2.8% |
| Other amounts receivable | 291 | €1,075,000 | €1,105,000 | +€30,000 | +2.8% |
| Amounts receivable within one year | 40/41 | €126,620 | €59,790 | -€66,830 | -52.8% |
| Trade receivables | 40 | €116,600 | €56,250 | -€60,350 | -51.8% |
| Other amounts receivable | 41 | €10,020 | €3,540 | -€6,480 | -64.7% |
| Current investments | 50/53 | €1,500,000 | €1,300,000 | -€200,000 | -13.3% |
| Cash at bank and in hand | 54/58 | €60,682 | €57,349 | -€3,333 | -5.5% |
| Deferred charges and accrued income | 490/1 | €42,916 | €41,484 | -€1,432 | -3.3% |
| Total equity and liabilities | 10/49 | €8,467,264 | €7,874,430 | -€592,833 | -7.0% |
| Equity | 10/15 | €1,955,919 | €1,877,651 | -€78,268 | -4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,897,986 | €1,895,112 | -€2,874 | -0.2% |
| Tax-exempt reserves | 132 | €1,896,126 | €1,893,252 | -€2,874 | -0.2% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,333 | -€36,061 | -€75,394 | |
| Provisions and deferred taxes | 16 | €662,043 | €658,358 | -€3,685 | -0.6% |
| Deferred taxes | 168 | €662,043 | €658,358 | -€3,685 | -0.6% |
| Amounts payable | 17/49 | €5,849,302 | €5,338,422 | -€510,880 | -8.7% |
| Amounts payable after more than one year | 17 | €4,912,477 | €4,366,265 | -€546,212 | -11.1% |
| Financial debts | 170/4 | €4,912,477 | €4,366,265 | -€546,212 | -11.1% |
| Amounts payable within one year | 42/48 | €905,192 | €939,124 | +€33,932 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €535,154 | €546,212 | +€11,058 | +2.1% |
| Financial debts | 43 | - | €34,454 | +€34,454 | |
| Credit institutions | 430/8 | - | €34,454 | +€34,454 | |
| Trade debts | 44 | €218,566 | €168,575 | -€49,991 | -22.9% |
| Suppliers | 440/4 | €218,566 | €168,575 | -€49,991 | -22.9% |
| Taxes, remuneration and social security | 45 | €34,807 | €72,982 | +€38,175 | +110% |
| Taxes | 450/3 | €34,807 | €72,982 | +€38,175 | +110% |
| Other amounts payable | 47/48 | €116,665 | €116,901 | +€236 | +0.2% |
| Accrued charges and deferred income | 492/3 | €31,633 | €33,033 | +€1,401 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €219,285 | €216,013 | -€3,273 | -1.5% |
| Other operating charges | 640/8 | €87,166 | €85,999 | -€1,167 | -1.3% |
| Non-recurring operating charges | 66A | - | €167,726 | +€167,726 | |
| Gross operating margin | 9900 | €480,083 | €518,597 | +€38,514 | +8.0% |
| Operating profit (loss) | 9901 | €173,631 | €48,859 | -€124,772 | -71.9% |
| Financial income | 75/76B | €52,713 | €26,017 | -€26,696 | -50.6% |
| Recurring financial income | 75 | €52,713 | €26,017 | -€26,696 | -50.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €107,639 | €117,286 | +€9,646 | +9.0% |
| Recurring financial charges | 65 | €107,639 | €117,286 | +€9,646 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €118,705 | -€42,409 | -€161,114 | |
| Transfer from deferred taxes | 780 | €3,685 | €3,685 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €34,254 | €39,544 | +€5,290 | +15.4% |
| Profit (loss) for the period | 9904 | €88,136 | -€78,268 | -€166,404 | |
| Transfer from tax-exempt reserves | 789 | €8,171 | €8,171 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €96,307 | -€70,097 | -€166,404 |
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 28 October 2026 via checked.be.