J D 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 D M
Largest movements
- Receivables within one year -€697,346
down €697,346 (-65.8%), from €1.1m to €361,801
of which Trade receivables: -€709,328
- Tangible fixed assets +€165,329
up €165,329 (+55.5%), from €297,642 to €462,970
- Cash +€32,425
up €32,425 (+1,907%), from €1,700 to €34,125
mainly Receivables within one year (+€697,346) and Depreciation (+€123,771)
- Trade debts -€469,311
down €469,311 (-63.6%), from €738,131 to €268,820
- Profit (loss) carried forward -€112,286
down €112,286, from €28,742 to -€83,544
- Current portion of long-term debt +€44,472
up €44,472 (+32.2%), from €138,293 to €182,766
- Debts after one year +€43,306
up €43,306 (+21.9%), from €197,954 to €241,259
- Gross operating margin -€131,646
down €131,646 (-32.9%), from €399,789 to €268,143
- Staff costs -€47,861
down €47,861 (-17.5%), from €273,636 to €225,775
- Depreciation +€44,758
up €44,758 (+56.6%), from €79,013 to €123,771
- Taxes -€11,612
no longer reported in 2025 (was €11,612)
- Other operating charges +€6,118
up €6,118 (+57.3%), from €10,677 to €16,796
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 | €1,370,622 | €868,199 | -€502,422 | -36.7% |
| Fixed assets | 21/28 | €297,762 | €463,090 | +€165,329 | +55.5% |
| Tangible fixed assets | 22/27 | €297,642 | €462,970 | +€165,329 | +55.5% |
| Furniture and vehicles | 24 | €297,642 | €462,970 | +€165,329 | +55.5% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €1,072,860 | €405,109 | -€667,751 | -62.2% |
| Amounts receivable within one year | 40/41 | €1,059,147 | €361,801 | -€697,346 | -65.8% |
| Trade receivables | 40 | €1,023,250 | €313,922 | -€709,328 | -69.3% |
| Other amounts receivable | 41 | €35,897 | €47,879 | +€11,982 | +33.4% |
| Cash at bank and in hand | 54/58 | €1,700 | €34,125 | +€32,425 | +1,907% |
| Deferred charges and accrued income | 490/1 | €12,013 | €9,183 | -€2,830 | -23.6% |
| Total equity and liabilities | 10/49 | €1,370,622 | €868,199 | -€502,422 | -36.7% |
| Equity | 10/15 | €250,645 | €138,358 | -€112,286 | -44.8% |
| Contributions | 10/11 | €8,057 | €8,057 | = | 0.0% |
| Reserves | 13 | €213,846 | €213,846 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,276 | €22,276 | = | 0.0% |
| Distributable reserves | 133 | €191,570 | €191,570 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,742 | -€83,544 | -€112,286 | |
| Amounts payable | 17/49 | €1,119,977 | €729,841 | -€390,136 | -34.8% |
| Amounts payable after more than one year | 17 | €197,954 | €241,259 | +€43,306 | +21.9% |
| Financial debts | 170/4 | €197,954 | €241,259 | +€43,306 | +21.9% |
| Amounts payable within one year | 42/48 | €922,023 | €488,481 | -€433,542 | -47.0% |
| Current portion of amounts payable after more than one year | 42 | €138,293 | €182,766 | +€44,472 | +32.2% |
| Trade debts | 44 | €738,131 | €268,820 | -€469,311 | -63.6% |
| Suppliers | 440/4 | €738,131 | €268,820 | -€469,311 | -63.6% |
| Taxes, remuneration and social security | 45 | €45,599 | €36,895 | -€8,704 | -19.1% |
| Taxes | 450/3 | €25,455 | €36,086 | +€10,630 | +41.8% |
| Remuneration and social security | 454/9 | €20,143 | €809 | -€19,334 | -96.0% |
| Accrued charges and deferred income | 492/3 | - | €100 | +€100 | |
| Remuneration, social security and pensions | 62 | €273,636 | €225,775 | -€47,861 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,013 | €123,771 | +€44,758 | +56.6% |
| Other operating charges | 640/8 | €10,677 | €16,796 | +€6,118 | +57.3% |
| Gross operating margin | 9900 | €399,789 | €268,143 | -€131,646 | -32.9% |
| Operating profit (loss) | 9901 | €36,462 | -€98,199 | -€134,661 | |
| Financial income | 75/76B | €3,405 | €2,841 | -€564 | -16.6% |
| Recurring financial income | 75 | €3,405 | €2,841 | -€564 | -16.6% |
| Financial charges | 65/66B | €12,873 | €16,928 | +€4,055 | +31.5% |
| Recurring financial charges | 65 | €12,873 | €16,928 | +€4,055 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | €26,994 | -€112,286 | -€139,280 | |
| Income taxes | 67/77 | €11,612 | - | -€11,612 | |
| Profit (loss) for the period | 9904 | €15,382 | -€112,286 | -€127,668 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,382 | -€112,286 | -€127,668 |
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 26 October 2026 via checked.be.