J en 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 en M
Largest movements
- Cash +€19,391
up €19,391 (+27.3%), from €71,011 to €90,402
mainly Net result for the year (+€21,387) and Depreciation (+€16,632)
- Tangible fixed assets +€14,155
up €14,155 (+4.4%), from €321,263 to €335,417
of which Land and buildings: +€13,502
- Reserves +€50,569
up €50,569 (+58.3%), from €86,782 to €137,350
of which Distributable reserves: +€50,569
- Profit (loss) carried forward -€29,182
no longer reported in 2025 (was €29,182)
- Trade debts +€13,419
up €13,419 (+215%), from €6,251 to €19,670
- Tax, wage and social debts +€5,408
up €5,408 (+544%), from €995 to €6,403
- Other debts -€5,388
down €5,388 (-4.4%), from €122,092 to €116,705
- Gross operating margin +€61,064
up €61,064, from -€8,244 to €52,819
- Financial charges +€8,303
up €8,303 (+3,971%), from €209 to €8,512
- Taxes +€2,139
new in 2025: €2,139
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 | €398,592 | €435,807 | +€37,214 | +9.3% |
| Fixed assets | 21/28 | €321,263 | €335,417 | +€14,155 | +4.4% |
| Tangible fixed assets | 22/27 | €321,263 | €335,417 | +€14,155 | +4.4% |
| Land and buildings | 22 | €315,811 | €329,312 | +€13,502 | +4.3% |
| Plant, machinery and equipment | 23 | €5,452 | €3,354 | -€2,098 | -38.5% |
| Furniture and vehicles | 24 | - | €2,751 | +€2,751 | |
| Current assets | 29/58 | €77,329 | €100,389 | +€23,060 | +29.8% |
| Amounts receivable within one year | 40/41 | €3,741 | €7,605 | +€3,864 | +103% |
| Trade receivables | 40 | €686 | €7,605 | +€6,919 | +1,009% |
| Other amounts receivable | 41 | €3,055 | - | -€3,055 | |
| Cash at bank and in hand | 54/58 | €71,011 | €90,402 | +€19,391 | +27.3% |
| Deferred charges and accrued income | 490/1 | €2,578 | €2,382 | -€196 | -7.6% |
| Total equity and liabilities | 10/49 | €398,592 | €435,807 | +€37,214 | +9.3% |
| Equity | 10/15 | €263,363 | €284,750 | +€21,387 | +8.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €128,800 | €128,800 | = | 0.0% |
| Reserves | 13 | €86,782 | €137,350 | +€50,569 | +58.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €84,922 | €135,490 | +€50,569 | +59.5% |
| Profit (loss) carried forward | 14 | €29,182 | - | -€29,182 | |
| Amounts payable | 17/49 | €135,229 | €151,056 | +€15,828 | +11.7% |
| Amounts payable within one year | 42/48 | €129,338 | €142,778 | +€13,440 | +10.4% |
| Trade debts | 44 | €6,251 | €19,670 | +€13,419 | +215% |
| Suppliers | 440/4 | €6,251 | €19,670 | +€13,419 | +215% |
| Taxes, remuneration and social security | 45 | €995 | €6,403 | +€5,408 | +544% |
| Taxes | 450/3 | €995 | €6,403 | +€5,408 | +544% |
| Other amounts payable | 47/48 | €122,092 | €116,705 | -€5,388 | -4.4% |
| Accrued charges and deferred income | 492/3 | €5,891 | €8,279 | +€2,388 | +40.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,468 | €16,632 | +€165 | +1.0% |
| Other operating charges | 640/8 | €3,925 | €4,149 | +€224 | +5.7% |
| Gross operating margin | 9900 | -€8,244 | €52,819 | +€61,064 | |
| Operating profit (loss) | 9901 | -€28,637 | €32,038 | +€60,675 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -72.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -72.7% |
| Financial charges | 65/66B | €209 | €8,512 | +€8,303 | +3,971% |
| Recurring financial charges | 65 | €209 | €8,512 | +€8,303 | +3,971% |
| Profit (loss) for the period before taxes | 9903 | -€28,846 | €23,526 | +€52,372 | |
| Income taxes | 67/77 | - | €2,139 | +€2,139 | |
| Profit (loss) for the period | 9904 | -€28,846 | €21,387 | +€50,233 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,846 | €21,387 | +€50,233 |
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 31 October 2026 via checked.be.