J.M.J.: what changed
J.M.J.
Largest movements
- Cash +€24,704
up €24,704 (+135%), from €18,359 to €43,063
mainly Net result for the year (+€47,508) and Other debts (+€31,842)
- Tangible fixed assets -€10,436
down €10,436 (-3.6%), from €293,394 to €282,958
of which Land and buildings: -€8,602
- Receivables within one year -€9,795
down €9,795 (-25.7%), from €38,061 to €28,266
of which Other amounts receivable: -€7,009
- Other debts +€31,842
up €31,842 (+79.1%), from €40,265 to €72,107
- Reserves -€24,598
down €24,598 (-27.0%), from €90,966 to €66,368
- Debts after one year -€14,667
down €14,667 (-7.7%), from €190,666 to €176,000
- Trade debts +€9,693
up €9,693 (+386%), from €2,509 to €12,202
- Financial income +€50,079
up €50,079 (+250,392,600%), from €0 to €50,079
- Gross operating margin -€15,958
down €15,958 (-31.8%), from €50,134 to €34,176
- Financial charges +€2,190
up €2,190 (+17.4%), from €12,576 to €14,766
- Taxes +€1,205
up €1,205 (+14.6%), from €8,233 to €9,437
- Depreciation -€1,063
down €1,063 (-9.2%), from €11,498 to €10,436
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €357,408 | €362,877 | +€5,470 | +1.5% |
| Fixed assets | 21/28 | €298,074 | €287,638 | -€10,436 | -3.5% |
| Tangible fixed assets | 22/27 | €293,394 | €282,958 | -€10,436 | -3.6% |
| Land and buildings | 22 | €290,305 | €281,703 | -€8,602 | -3.0% |
| Plant, machinery and equipment | 23 | €1,836 | €847 | -€989 | -53.9% |
| Furniture and vehicles | 24 | €1,252 | €408 | -€844 | -67.4% |
| Financial fixed assets | 28 | €4,680 | €4,680 | = | 0.0% |
| Current assets | 29/58 | €59,334 | €75,239 | +€15,905 | +26.8% |
| Amounts receivable within one year | 40/41 | €38,061 | €28,266 | -€9,795 | -25.7% |
| Trade receivables | 40 | €4,909 | €2,124 | -€2,786 | -56.7% |
| Other amounts receivable | 41 | €33,152 | €26,143 | -€7,009 | -21.1% |
| Cash at bank and in hand | 54/58 | €18,359 | €43,063 | +€24,704 | +135% |
| Deferred charges and accrued income | 490/1 | €2,913 | €3,909 | +€996 | +34.2% |
| Total equity and liabilities | 10/49 | €357,408 | €362,877 | +€5,470 | +1.5% |
| Equity | 10/15 | €103,366 | €78,768 | -€24,598 | -23.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €90,966 | €66,368 | -€24,598 | -27.0% |
| Distributable reserves | 133 | €90,966 | €66,368 | -€24,598 | -27.0% |
| Amounts payable | 17/49 | €254,041 | €284,109 | +€30,068 | +11.8% |
| Amounts payable after more than one year | 17 | €190,666 | €176,000 | -€14,667 | -7.7% |
| Financial debts | 170/4 | €190,666 | €176,000 | -€14,667 | -7.7% |
| Amounts payable within one year | 42/48 | €63,375 | €108,101 | +€44,726 | +70.6% |
| Current portion of amounts payable after more than one year | 42 | €14,667 | €14,667 | = | 0.0% |
| Financial debts | 43 | €4,375 | €4,375 | = | 0.0% |
| Credit institutions | 430/8 | €4,375 | €4,375 | = | 0.0% |
| Trade debts | 44 | €2,509 | €12,202 | +€9,693 | +386% |
| Suppliers | 440/4 | €2,509 | €12,202 | +€9,693 | +386% |
| Taxes, remuneration and social security | 45 | €1,559 | €4,751 | +€3,192 | +205% |
| Taxes | 450/3 | €1,559 | €4,751 | +€3,192 | +205% |
| Other amounts payable | 47/48 | €40,265 | €72,107 | +€31,842 | +79.1% |
| Accrued charges and deferred income | 492/3 | - | €9 | +€9 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,498 | €10,436 | -€1,063 | -9.2% |
| Other operating charges | 640/8 | €2,237 | €2,107 | -€130 | -5.8% |
| Gross operating margin | 9900 | €50,134 | €34,176 | -€15,958 | -31.8% |
| Operating profit (loss) | 9901 | €36,398 | €21,634 | -€14,765 | -40.6% |
| Financial income | 75/76B | €0 | €50,079 | +€50,079 | +250,392,600% |
| Recurring financial income | 75 | €0 | €50,079 | +€50,079 | +250,392,600% |
| Financial charges | 65/66B | €12,576 | €14,766 | +€2,190 | +17.4% |
| Recurring financial charges | 65 | €12,576 | €14,766 | +€2,190 | +17.4% |
| Profit (loss) for the period before taxes | 9903 | €23,822 | €56,946 | +€33,124 | +139% |
| Income taxes | 67/77 | €8,233 | €9,437 | +€1,205 | +14.6% |
| Profit (loss) for the period | 9904 | €15,589 | €47,508 | +€31,919 | +205% |
| Profit (loss) for the period to be appropriated | 9905 | €15,589 | €47,508 | +€31,919 | +205% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.