J.A.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.
J.A.M.
Largest movements
- Cash +€53,704
up €53,704 (+38.9%), from €138,086 to €191,791
mainly Net result for the year (+€24,740) and Receivables within one year (+€20,364)
- Receivables within one year -€20,364
down €20,364 (-67.2%), from €30,306 to €9,941
of which Trade receivables: -€16,990
- Tangible fixed assets -€2,534
down €2,534 (-45.6%), from €5,562 to €3,029
of which Furniture and vehicles: -€1,962
- Reserves +€24,740
up €24,740 (+17.8%), from €139,159 to €163,900
of which Distributable reserves: +€24,740
- Tax, wage and social debts +€4,424
up €4,424 (+154%), from €2,864 to €7,287
of which Taxes: +€7,264
- Gross operating margin +€26,942
up €26,942 (+192%), from €13,997 to €40,939
- Taxes +€9,457
up €9,457 (+304%), from €3,112 to €12,569
- Depreciation -€2,593
down €2,593 (-50.6%), from €5,127 to €2,534
- Financial income -€931
down €931 (-49.3%), from €1,891 to €959
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 | €176,035 | €206,929 | +€30,893 | +17.5% |
| Fixed assets | 21/28 | €5,562 | €3,029 | -€2,534 | -45.6% |
| Tangible fixed assets | 22/27 | €5,562 | €3,029 | -€2,534 | -45.6% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | €658 | €86 | -€572 | -86.9% |
| Furniture and vehicles | 24 | €4,904 | €2,943 | -€1,962 | -40.0% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Current assets | 29/58 | €170,473 | €203,900 | +€33,427 | +19.6% |
| Stocks and contracts in progress | 3 | €2,081 | €2,168 | +€87 | +4.2% |
| Stocks | 30/36 | €2,081 | €2,168 | +€87 | +4.2% |
| Amounts receivable within one year | 40/41 | €30,306 | €9,941 | -€20,364 | -67.2% |
| Trade receivables | 40 | €25,540 | €8,551 | -€16,990 | -66.5% |
| Other amounts receivable | 41 | €4,765 | €1,391 | -€3,374 | -70.8% |
| Cash at bank and in hand | 54/58 | €138,086 | €191,791 | +€53,704 | +38.9% |
| Total equity and liabilities | 10/49 | €176,035 | €206,929 | +€30,893 | +17.5% |
| Equity | 10/15 | €157,759 | €182,500 | +€24,740 | +15.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €139,159 | €163,900 | +€24,740 | +17.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,088 | €14,088 | = | 0.0% |
| Distributable reserves | 133 | €123,211 | €147,951 | +€24,740 | +20.1% |
| Amounts payable | 17/49 | €18,276 | €24,429 | +€6,153 | +33.7% |
| Amounts payable within one year | 42/48 | €18,276 | €24,429 | +€6,153 | +33.7% |
| Trade debts | 44 | €825 | €1,938 | +€1,114 | +135% |
| Suppliers | 440/4 | €825 | €1,938 | +€1,114 | +135% |
| Taxes, remuneration and social security | 45 | €2,864 | €7,287 | +€4,424 | +154% |
| Taxes | 450/3 | €24 | €7,287 | +€7,264 | +30,883% |
| Remuneration and social security | 454/9 | €2,840 | - | -€2,840 | |
| Other amounts payable | 47/48 | €14,588 | €15,204 | +€616 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,127 | €2,534 | -€2,593 | -50.6% |
| Other operating charges | 640/8 | €1,510 | €1,559 | +€49 | +3.3% |
| Gross operating margin | 9900 | €13,997 | €40,939 | +€26,942 | +192% |
| Operating profit (loss) | 9901 | €7,360 | €36,846 | +€29,486 | +401% |
| Financial income | 75/76B | €1,891 | €959 | -€931 | -49.3% |
| Recurring financial income | 75 | €1,891 | €959 | -€931 | -49.3% |
| Financial charges | 65/66B | €174 | €496 | +€322 | +185% |
| Recurring financial charges | 65 | €174 | €496 | +€322 | +185% |
| Profit (loss) for the period before taxes | 9903 | €9,077 | €37,310 | +€28,233 | +311% |
| Income taxes | 67/77 | €3,112 | €12,569 | +€9,457 | +304% |
| Profit (loss) for the period | 9904 | €5,965 | €24,740 | +€18,775 | +315% |
| Profit (loss) for the period to be appropriated | 9905 | €5,965 | €24,740 | +€18,775 | +315% |
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 18 October 2026 via checked.be.