J.M.B.: 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.B.
Largest movements
- Receivables within one year -€110,333
down €110,333 (-20.1%), from €548,755 to €438,422
of which Trade receivables: -€106,313
- Cash -€6,294
down €6,294 (-98.4%), from €6,394 to €99
mainly Net result for the year (-€56,361) and Other debts (-€32,697)
- Profit (loss) carried forward -€56,361
down €56,361 (-26.4%), from -€213,676 to -€270,037
- Other debts -€32,697
down €32,697 (-5.4%), from €610,528 to €577,831
- Trade debts -€25,366
down €25,366 (-76.9%), from €32,996 to €7,630
- Tax, wage and social debts -€11,743
down €11,743 (-36.2%), from €32,394 to €20,652
of which Remuneration and social security: -€11,530
- Accrued charges and deferred income +€9,465
up €9,465 (+27.0%), from €35,021 to €44,486
- Gross operating margin -€78,893
down €78,893 (-92.9%), from €84,926 to €6,033
- Staff costs -€66,047
down €66,047, from €66,043 to -€5
- Write-downs +€22,692
new in 2025: €22,692
- Other operating charges +€8,326
up €8,326 (+801%), from €1,039 to €9,365
- Financial charges +€1,061
up €1,061 (+7.7%), from €13,821 to €14,882
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 | €555,806 | €438,522 | -€117,284 | -21.1% |
| Fixed assets | 21/28 | €350 | - | -€350 | |
| Financial fixed assets | 28 | €350 | - | -€350 | |
| Current assets | 29/58 | €555,456 | €438,522 | -€116,934 | -21.1% |
| Amounts receivable within one year | 40/41 | €548,755 | €438,422 | -€110,333 | -20.1% |
| Trade receivables | 40 | €515,621 | €409,308 | -€106,313 | -20.6% |
| Other amounts receivable | 41 | €33,134 | €29,114 | -€4,020 | -12.1% |
| Cash at bank and in hand | 54/58 | €6,394 | €99 | -€6,294 | -98.4% |
| Deferred charges and accrued income | 490/1 | €307 | - | -€307 | |
| Total equity and liabilities | 10/49 | €555,806 | €438,522 | -€117,284 | -21.1% |
| Equity | 10/15 | -€155,716 | -€212,077 | -€56,361 | -36.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,360 | €39,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€213,676 | -€270,037 | -€56,361 | -26.4% |
| Amounts payable | 17/49 | €711,522 | €650,598 | -€60,924 | -8.6% |
| Amounts payable within one year | 42/48 | €676,501 | €606,113 | -€70,389 | -10.4% |
| Financial debts | 43 | €583 | - | -€583 | |
| Credit institutions | 430/8 | €583 | - | -€583 | |
| Trade debts | 44 | €32,996 | €7,630 | -€25,366 | -76.9% |
| Suppliers | 440/4 | €32,996 | €7,630 | -€25,366 | -76.9% |
| Taxes, remuneration and social security | 45 | €32,394 | €20,652 | -€11,743 | -36.2% |
| Taxes | 450/3 | €20,864 | €20,652 | -€213 | -1.0% |
| Remuneration and social security | 454/9 | €11,530 | - | -€11,530 | |
| Other amounts payable | 47/48 | €610,528 | €577,831 | -€32,697 | -5.4% |
| Accrued charges and deferred income | 492/3 | €35,021 | €44,486 | +€9,465 | +27.0% |
| Non-recurring operating income | 76A | €17,125 | - | -€17,125 | |
| Remuneration, social security and pensions | 62 | €66,043 | -€5 | -€66,047 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €22,692 | +€22,692 | |
| Other operating charges | 640/8 | €1,039 | €9,365 | +€8,326 | +801% |
| Non-recurring operating charges | 66A | - | €15,460 | +€15,460 | |
| Gross operating margin | 9900 | €84,926 | €6,033 | -€78,893 | -92.9% |
| Operating profit (loss) | 9901 | €17,845 | -€41,479 | -€59,323 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -28.6% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -28.6% |
| Financial charges | 65/66B | €13,821 | €14,882 | +€1,061 | +7.7% |
| Recurring financial charges | 65 | €13,821 | €14,882 | +€1,061 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €4,024 | -€56,361 | -€60,384 | |
| Profit (loss) for the period | 9904 | €4,024 | -€56,361 | -€60,384 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,024 | -€56,361 | -€60,384 |
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 14 October 2026 via checked.be.