J.M.A.R.: 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.M.A.R.
Largest movements
- Tangible fixed assets +€26,786
up €26,786 (+28.2%), from €95,151 to €121,937
- Other debts +€37,440
up €37,440 (+106%), from €35,428 to €72,868
- Profit (loss) carried forward -€11,069
down €11,069 (-172%), from -€6,437 to -€17,506
- Trade debts +€7,766
up €7,766 (+56.5%), from €13,750 to €21,516
- Debts after one year -€7,426
down €7,426 (-27.8%), from €26,715 to €19,288
- Depreciation +€9,264
up €9,264 (+99.1%), from €9,346 to €18,610
- Gross operating margin -€3,422
down €3,422 (-24.5%), from €13,938 to €10,517
- Financial charges -€293
down €293 (-17.3%), from €1,690 to €1,397
- Taxes -€263
down €263 (-100%), from €263 to €0
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 | €95,926 | €122,679 | +€26,754 | +27.9% |
| Fixed assets | 21/28 | €95,151 | €121,937 | +€26,786 | +28.2% |
| Tangible fixed assets | 22/27 | €95,151 | €121,937 | +€26,786 | +28.2% |
| Land and buildings | 22 | €95,151 | €121,937 | +€26,786 | +28.2% |
| Current assets | 29/58 | €775 | €742 | -€32 | -4.2% |
| Cash at bank and in hand | 54/58 | €775 | €742 | -€32 | -4.2% |
| Total equity and liabilities | 10/49 | €95,926 | €122,679 | +€26,754 | +27.9% |
| Equity | 10/15 | €12,649 | €1,580 | -€11,069 | -87.5% |
| Contributions | 10/11 | €18,593 | €18,593 | = | 0.0% |
| Reserves | 13 | €493 | €493 | = | 0.0% |
| Non-distributable reserves | 130/1 | €493 | €493 | = | 0.0% |
| Reserves not available under the articles | 1311 | €493 | €493 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,437 | -€17,506 | -€11,069 | -172% |
| Amounts payable | 17/49 | €83,277 | €121,099 | +€37,822 | +45.4% |
| Amounts payable after more than one year | 17 | €26,715 | €19,288 | -€7,426 | -27.8% |
| Financial debts | 170/4 | €26,715 | €19,288 | -€7,426 | -27.8% |
| Amounts payable within one year | 42/48 | €56,562 | €101,811 | +€45,249 | +80.0% |
| Current portion of amounts payable after more than one year | 42 | €7,121 | €7,426 | +€305 | +4.3% |
| Trade debts | 44 | €13,750 | €21,516 | +€7,766 | +56.5% |
| Suppliers | 440/4 | €13,750 | €21,516 | +€7,766 | +56.5% |
| Taxes, remuneration and social security | 45 | €263 | €0 | -€263 | -100% |
| Taxes | 450/3 | €263 | €0 | -€263 | -100% |
| Other amounts payable | 47/48 | €35,428 | €72,868 | +€37,440 | +106% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,346 | €18,610 | +€9,264 | +99.1% |
| Other operating charges | 640/8 | €1,504 | €1,578 | +€74 | +5.0% |
| Gross operating margin | 9900 | €13,938 | €10,517 | -€3,422 | -24.5% |
| Operating profit (loss) | 9901 | €3,088 | -€9,672 | -€12,760 | |
| Financial charges | 65/66B | €1,690 | €1,397 | -€293 | -17.3% |
| Recurring financial charges | 65 | €1,690 | €1,397 | -€293 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €1,398 | -€11,069 | -€12,467 | |
| Income taxes | 67/77 | €263 | €0 | -€263 | -100% |
| Profit (loss) for the period | 9904 | €1,135 | -€11,069 | -€12,204 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,135 | -€11,069 | -€12,204 |
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 24 October 2026 via checked.be.