J.M.A. TEX: 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. TEX
Largest movements
- Receivables within one year +€46,882
up €46,882 (+191%), from €24,558 to €71,440
- Tangible fixed assets -€32,012
down €32,012 (-7.0%), from €457,952 to €425,940
of which Land and buildings: -€20,074
- Debts after one year -€65,270
down €65,270 (-75.4%), from €86,546 to €21,276
- Trade debts +€46,409
up €46,409 (+162%), from €28,565 to €74,974
- Short-term financial debts +€28,000
up €28,000 (+28.9%), from €97,000 to €125,000
- Gross operating margin -€21,137
down €21,137 (-24.5%), from €86,164 to €65,028
- Staff costs -€16,549
down €16,549 (-49.6%), from €33,337 to €16,787
- Financial income +€9,100
up €9,100 (+2,098%), from €434 to €9,534
of which Non-recurring financial income: +€8,529
- Financial charges -€5,682
down €5,682 (-31.9%), from €17,812 to €12,131
- Other operating charges +€1,753
up €1,753 (+30.4%), from €5,765 to €7,518
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 | €629,797 | €635,219 | +€5,422 | +0.9% |
| Fixed assets | 21/28 | €457,952 | €425,940 | -€32,012 | -7.0% |
| Tangible fixed assets | 22/27 | €457,952 | €425,940 | -€32,012 | -7.0% |
| Land and buildings | 22 | €430,009 | €409,935 | -€20,074 | -4.7% |
| Plant, machinery and equipment | 23 | €1,414 | €735 | -€679 | -48.0% |
| Furniture and vehicles | 24 | €26,529 | €15,269 | -€11,259 | -42.4% |
| Current assets | 29/58 | €171,845 | €209,279 | +€37,434 | +21.8% |
| Stocks and contracts in progress | 3 | €135,086 | €130,000 | -€5,086 | -3.8% |
| Stocks | 30/36 | €135,086 | €130,000 | -€5,086 | -3.8% |
| Amounts receivable within one year | 40/41 | €24,558 | €71,440 | +€46,882 | +191% |
| Trade receivables | 40 | €24,558 | €71,440 | +€46,882 | +191% |
| Cash at bank and in hand | 54/58 | €10,428 | €6,981 | -€3,447 | -33.1% |
| Deferred charges and accrued income | 490/1 | €1,773 | €858 | -€915 | -51.6% |
| Total equity and liabilities | 10/49 | €629,797 | €635,219 | +€5,422 | +0.9% |
| Equity | 10/15 | €140,308 | €143,545 | +€3,237 | +2.3% |
| Contributions | 10/11 | €28,750 | €28,750 | = | 0.0% |
| Reserves | 13 | €111,558 | €114,795 | +€3,237 | +2.9% |
| Distributable reserves | 133 | €111,558 | €114,795 | +€3,237 | +2.9% |
| Amounts payable | 17/49 | €489,489 | €491,674 | +€2,185 | +0.4% |
| Amounts payable after more than one year | 17 | €86,546 | €21,276 | -€65,270 | -75.4% |
| Financial debts | 170/4 | €86,546 | €21,276 | -€65,270 | -75.4% |
| Amounts payable within one year | 42/48 | €400,153 | €468,308 | +€68,154 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €63,890 | €65,270 | +€1,379 | +2.2% |
| Financial debts | 43 | €97,000 | €125,000 | +€28,000 | +28.9% |
| Credit institutions | 430/8 | €97,000 | €125,000 | +€28,000 | +28.9% |
| Trade debts | 44 | €28,565 | €74,974 | +€46,409 | +162% |
| Suppliers | 440/4 | €28,565 | €74,974 | +€46,409 | +162% |
| Taxes, remuneration and social security | 45 | €10,126 | €6,877 | -€3,249 | -32.1% |
| Taxes | 450/3 | €5,028 | €5,531 | +€503 | +10.0% |
| Remuneration and social security | 454/9 | €5,098 | €1,346 | -€3,752 | -73.6% |
| Other amounts payable | 47/48 | €200,572 | €196,187 | -€4,385 | -2.2% |
| Accrued charges and deferred income | 492/3 | €2,790 | €2,090 | -€700 | -25.1% |
| Remuneration, social security and pensions | 62 | €33,337 | €16,787 | -€16,549 | -49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,038 | €32,012 | -€26 | -0.1% |
| Other operating charges | 640/8 | €5,765 | €7,518 | +€1,753 | +30.4% |
| Gross operating margin | 9900 | €86,164 | €65,028 | -€21,137 | -24.5% |
| Operating profit (loss) | 9901 | €15,024 | €8,710 | -€6,314 | -42.0% |
| Financial income | 75/76B | €434 | €9,534 | +€9,100 | +2,098% |
| Recurring financial income | 75 | €1 | €572 | +€572 | +79,379% |
| Non-recurring financial income | 76B | €433 | €8,962 | +€8,529 | +1,969% |
| Financial charges | 65/66B | €17,812 | €12,131 | -€5,682 | -31.9% |
| Recurring financial charges | 65 | €17,812 | €12,131 | -€5,682 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,354 | €6,114 | +€8,468 | |
| Income taxes | 67/77 | €1,135 | €2,877 | +€1,743 | +154% |
| Profit (loss) for the period | 9904 | -€3,489 | €3,237 | +€6,725 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,489 | €3,237 | +€6,725 |
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 22 October 2026 via checked.be.