J.M.D.: 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.D.
Largest movements
- Tangible fixed assets -€15,741
down €15,741 (-24.1%), from €65,364 to €49,623
of which Plant, machinery and equipment: -€11,043
- Receivables within one year -€10,290
down €10,290 (-39.0%), from €26,378 to €16,088
of which Trade receivables: -€7,627
- Cash +€9,886
up €9,886 (+228.3%), from €4,329 to €14,215
mainly Depreciation (+€15,741) and Receivables within one year (+€10,290)
- Debts after one year -€14,960
down €14,960 (-27.2%), from €54,960 to €40,000
- Profit (loss) carried forward +€5,118
up €5,118, from -€2,852 to €2,265
- Current portion of long-term debt -€4,844
down €4,844 (-24.5%), from €19,804 to €14,960
- Trade debts -€1,538
down €1,538 (-46.5%), from €3,311 to €1,773
- Depreciation -€12,708
down €12,708 (-44.7%), from €28,450 to €15,741
- Financial charges -€851
down €851 (-28.8%), from €2,952 to €2,101
- Gross operating margin -€417
down €417 (-1.7%), from €23,892 to €23,474
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 | €97,470 | €81,245 | -€16,225 | -16.6% |
| Fixed assets | 21/28 | €65,364 | €49,623 | -€15,741 | -24.1% |
| Tangible fixed assets | 22/27 | €65,364 | €49,623 | -€15,741 | -24.1% |
| Plant, machinery and equipment | 23 | €57,822 | €46,779 | -€11,043 | -19.1% |
| Furniture and vehicles | 24 | €7,542 | €2,844 | -€4,698 | -62.3% |
| Current assets | 29/58 | €32,106 | €31,622 | -€483 | -1.5% |
| Amounts receivable within one year | 40/41 | €26,378 | €16,088 | -€10,290 | -39.0% |
| Trade receivables | 40 | €22,874 | €15,247 | -€7,627 | -33.3% |
| Other amounts receivable | 41 | €3,504 | €841 | -€2,663 | -76.0% |
| Current investments | 50/53 | €120 | €0 | -€120 | -100.0% |
| Cash at bank and in hand | 54/58 | €4,329 | €14,215 | +€9,886 | +228.3% |
| Deferred charges and accrued income | 490/1 | €1,278 | €1,319 | +€40 | +3.2% |
| Total equity and liabilities | 10/49 | €97,470 | €81,245 | -€16,225 | -16.6% |
| Equity | 10/15 | €19,395 | €24,512 | +€5,118 | +26.4% |
| Contributions | 10/11 | €21,497 | €21,497 | = | 0.0% |
| Reserves | 13 | €750 | €750 | = | 0.0% |
| Tax-exempt reserves | 132 | €750 | €750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,852 | €2,265 | +€5,118 | |
| Amounts payable | 17/49 | €78,075 | €56,733 | -€21,342 | -27.3% |
| Amounts payable after more than one year | 17 | €54,960 | €40,000 | -€14,960 | -27.2% |
| Financial debts | 170/4 | €54,960 | €40,000 | -€14,960 | -27.2% |
| Amounts payable within one year | 42/48 | €23,115 | €16,733 | -€6,382 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €19,804 | €14,960 | -€4,844 | -24.5% |
| Trade debts | 44 | €3,311 | €1,773 | -€1,538 | -46.5% |
| Suppliers | 440/4 | €3,311 | €1,773 | -€1,538 | -46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,450 | €15,741 | -€12,708 | -44.7% |
| Other operating charges | 640/8 | €448 | €515 | +€67 | +14.9% |
| Gross operating margin | 9900 | €23,892 | €23,474 | -€417 | -1.7% |
| Operating profit (loss) | 9901 | -€5,006 | €7,218 | +€12,224 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,952 | €2,101 | -€851 | -28.8% |
| Recurring financial charges | 65 | €2,952 | €2,101 | -€851 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,958 | €5,118 | +€13,076 | |
| Income taxes | 67/77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | -€7,958 | €5,118 | +€13,076 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,958 | €5,118 | +€13,076 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.