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
- Tangible fixed assets -€47,028
no longer reported in 2025 (was €47,028)
- Receivables after one year -€5,834
no longer reported in 2025 (was €5,834)
- Receivables within one year -€4,159
down €4,159 (-3.5%), from €119,837 to €115,678
of which Trade receivables: -€4,160
- Current portion of long-term debt -€27,677
no longer reported in 2025 (was €27,677)
- Short-term financial debts -€21,589
down €21,589 (-59.9%), from €36,063 to €14,474
- Profit (loss) carried forward +€17,404
up €17,404 (+30.6%), from -€56,906 to -€39,502
- Debts after one year -€12,390
no longer reported in 2025 (was €12,390)
- Other debts -€11,830
down €11,830 (-25.6%), from €46,274 to €34,444
- Depreciation -€24,307
no longer reported in 2025 (was €24,307)
- Gross operating margin -€3,326
down €3,326 (-10.3%), from €32,345 to €29,019
- Purchases and services -€2,914
down €2,914 (-15.5%), from €18,806 to €15,892
- Financial charges -€2,751
down €2,751 (-38.6%), from €7,121 to €4,370
- Write-downs -€725
down €725 (-14.8%), from €4,885 to €4,160
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 | €174,608 | €115,712 | -€58,896 | -33.7% |
| Fixed assets | 21/28 | €47,943 | - | -€47,943 | |
| Tangible fixed assets | 22/27 | €47,028 | - | -€47,028 | |
| Land and buildings | 22 | €47,028 | - | -€47,028 | |
| Financial fixed assets | 28 | €915 | - | -€915 | |
| Current assets | 29/58 | €126,665 | €115,712 | -€10,953 | -8.6% |
| Amounts receivable after more than one year | 29 | €5,834 | - | -€5,834 | |
| Other amounts receivable | 291 | €5,834 | - | -€5,834 | |
| Amounts receivable within one year | 40/41 | €119,837 | €115,678 | -€4,159 | -3.5% |
| Trade receivables | 40 | €119,303 | €115,143 | -€4,160 | -3.5% |
| Other amounts receivable | 41 | €534 | €535 | +€1 | +0.2% |
| Cash at bank and in hand | 54/58 | €994 | €34 | -€960 | -96.6% |
| Total equity and liabilities | 10/49 | €174,608 | €115,712 | -€58,896 | -33.7% |
| Equity | 10/15 | €48,719 | €66,123 | +€17,404 | +35.7% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €86,875 | €86,875 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €85,000 | €85,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,906 | -€39,502 | +€17,404 | +30.6% |
| Amounts payable | 17/49 | €125,889 | €49,589 | -€76,300 | -60.6% |
| Amounts payable after more than one year | 17 | €12,390 | - | -€12,390 | |
| Other amounts payable | 178/9 | €12,390 | - | -€12,390 | |
| Amounts payable within one year | 42/48 | €112,539 | €49,589 | -€62,950 | -55.9% |
| Current portion of amounts payable after more than one year | 42 | €27,677 | - | -€27,677 | |
| Financial debts | 43 | €36,063 | €14,474 | -€21,589 | -59.9% |
| Credit institutions | 430/8 | €36,063 | €14,474 | -€21,589 | -59.9% |
| Trade debts | 44 | €2,525 | €671 | -€1,854 | -73.4% |
| Suppliers | 440/4 | €2,525 | €671 | -€1,854 | -73.4% |
| Other amounts payable | 47/48 | €46,274 | €34,444 | -€11,830 | -25.6% |
| Accrued charges and deferred income | 492/3 | €960 | - | -€960 | |
| Goods, raw materials, services and sundry goods | 60/61 | €18,806 | €15,892 | -€2,914 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,307 | - | -€24,307 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,885 | €4,160 | -€725 | -14.8% |
| Other operating charges | 640/8 | €3,041 | €3,085 | +€44 | +1.4% |
| Gross operating margin | 9900 | €32,345 | €29,019 | -€3,326 | -10.3% |
| Operating profit (loss) | 9901 | €112 | €21,774 | +€21,662 | +19,341% |
| Financial income | 75/76B | €500 | - | -€500 | |
| Recurring financial income | 75 | €500 | - | -€500 | |
| Non-recurring financial income | 76B | €500 | - | -€500 | |
| Financial charges | 65/66B | €7,121 | €4,370 | -€2,751 | -38.6% |
| Recurring financial charges | 65 | €7,121 | €4,370 | -€2,751 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,509 | €17,404 | +€23,913 | |
| Profit (loss) for the period | 9904 | -€6,509 | €17,404 | +€23,913 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,509 | €17,404 | +€23,913 |
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 13 October 2026 via checked.be.