J.M.D.: what changed
Two fiscal 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.D.
Largest movements
- Current investments +€364,187
up €364,187 (+62.4%), from €584,077 to €948,264
- Receivables within one year +€41,209
up €41,209 (+1746.1%), from €2,360 to €43,569
- Tangible fixed assets -€24,501
down €24,501 (-16.2%), from €151,545 to €127,044
of which Land and buildings: -€28,873
- Cash +€11,879
up €11,879 (+52.2%), from €22,760 to €34,639
mainly Net result for the year (+€359,659) and Tax, wage and social debts (+€29,092)
- Reserves +€359,659
up €359,659 (+49.1%), from €732,525 to €1.1m
- Tax, wage and social debts +€29,092
up €29,092 (+254.2%), from €11,443 to €40,535
- Gross operating margin +€462,224
up €462,224 (+560.0%), from €82,547 to €544,771
- Taxes +€146,247
up €146,247 (+605.5%), from €24,154 to €170,401
- Financial income +€24,681
up €24,681 (+447.6%), from €5,514 to €30,195
- Purchases and services -€21,574
down €21,574 (-30.8%), from €70,146 to €48,572
- Depreciation +€9,047
up €9,047 (+80.7%), from €11,214 to €20,261
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.
Cash bridge derived
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 | €760,742 | €1,153,516 | +€392,774 | +51.6% |
| Fixed assets | 21/28 | €151,545 | €127,044 | -€24,501 | -16.2% |
| Tangible fixed assets | 22/27 | €151,545 | €127,044 | -€24,501 | -16.2% |
| Land and buildings | 22 | €127,812 | €98,939 | -€28,873 | -22.6% |
| Furniture and vehicles | 24 | - | €26,228 | +€26,228 | |
| Other tangible fixed assets | 26 | €3,193 | €1,877 | -€1,316 | -41.2% |
| Assets under construction and advance payments | 27 | €20,540 | - | -€20,540 | |
| Current assets | 29/58 | €609,197 | €1,026,472 | +€417,275 | +68.5% |
| Amounts receivable within one year | 40/41 | €2,360 | €43,569 | +€41,209 | +1746.1% |
| Other amounts receivable | 41 | €2,360 | €43,569 | +€41,209 | +1746.1% |
| Current investments | 50/53 | €584,077 | €948,264 | +€364,187 | +62.4% |
| Cash at bank and in hand | 54/58 | €22,760 | €34,639 | +€11,879 | +52.2% |
| Total equity and liabilities | 10/49 | €760,742 | €1,153,516 | +€392,774 | +51.6% |
| Equity | 10/15 | €739,320 | €1,098,979 | +€359,659 | +48.6% |
| Contributions | 10/11 | €6,795 | €6,795 | = | 0.0% |
| Reserves | 13 | €732,525 | €1,092,184 | +€359,659 | +49.1% |
| Distributable reserves | 133 | €732,525 | €1,092,184 | +€359,659 | +49.1% |
| Amounts payable | 17/49 | €21,422 | €54,537 | +€33,115 | +154.6% |
| Amounts payable within one year | 42/48 | €20,554 | €54,537 | +€33,983 | +165.3% |
| Trade debts | 44 | €360 | €5,461 | +€5,101 | +1416.9% |
| Suppliers | 440/4 | €360 | €5,461 | +€5,101 | +1416.9% |
| Taxes, remuneration and social security | 45 | €11,443 | €40,535 | +€29,092 | +254.2% |
| Taxes | 450/3 | €11,443 | €40,535 | +€29,092 | +254.2% |
| Other amounts payable | 47/48 | €8,751 | €8,541 | -€210 | -2.4% |
| Accrued charges and deferred income | 492/3 | €868 | - | -€868 | |
| Turnover | 70 | €152,693 | €153,531 | +€838 | +0.5% |
| Non-recurring operating income | 76A | - | €439,812 | +€439,812 | |
| Goods, raw materials, services and sundry goods | 60/61 | €70,146 | €48,572 | -€21,574 | -30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,214 | €20,261 | +€9,047 | +80.7% |
| Other operating charges | 640/8 | €5,395 | €7,353 | +€1,958 | +36.3% |
| Non-recurring operating charges | 66A | - | €17,240 | +€17,240 | |
| Gross operating margin | 9900 | €82,547 | €544,771 | +€462,224 | +560.0% |
| Operating profit (loss) | 9901 | €65,938 | €499,917 | +€433,979 | +658.2% |
| Financial income | 75/76B | €5,514 | €30,195 | +€24,681 | +447.6% |
| Recurring financial income | 75 | €5,514 | €30,195 | +€24,681 | +447.6% |
| Financial charges | 65/66B | €48 | €52 | +€4 | +8.3% |
| Recurring financial charges | 65 | €48 | €52 | +€4 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €71,404 | €530,060 | +€458,656 | +642.3% |
| Income taxes | 67/77 | €24,154 | €170,401 | +€146,247 | +605.5% |
| Profit (loss) for the period | 9904 | €47,250 | €359,659 | +€312,409 | +661.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,250 | €359,659 | +€312,409 | +661.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.