J.M.-Line: 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.-Line
Largest movements
- Tangible fixed assets +€333,416
up €333,416 (+257%), from €129,779 to €463,195
of which Land and buildings: +€289,100
- Receivables within one year +€61,793
up €61,793 (+76.2%), from €81,084 to €142,877
of which Trade receivables: +€58,738
- Cash -€13,168
down €13,168 (-6.3%), from €208,475 to €195,307
mainly Investment in fixed assets (net) (-€396,179) and Receivables within one year (-€61,793)
- Current investments -€10,000
no longer reported in 2025 (was €10,000)
- Debts after one year +€222,007
up €222,007 (+437%), from €50,762 to €272,769
- Profit (loss) carried forward +€96,472
up €96,472 (+33.4%), from €288,444 to €384,916
- Current portion of long-term debt +€39,264
up €39,264 (+162%), from €24,163 to €63,426
- Tax, wage and social debts +€14,914
up €14,914 (+159%), from €9,399 to €24,314
of which Taxes: +€9,408
- Gross operating margin +€151,324
up €151,324 (+171%), from €88,531 to €239,854
- Staff costs +€26,967
new in 2025: €26,967
- Taxes +€23,367
up €23,367 (+315%), from €7,415 to €30,781
- Depreciation +€16,034
up €16,034 (+34.3%), from €46,729 to €62,763
- Financial charges +€4,829
up €4,829 (+119%), from €4,044 to €8,873
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 | €429,888 | €801,951 | +€372,063 | +86.5% |
| Fixed assets | 21/28 | €129,779 | €463,195 | +€333,416 | +257% |
| Tangible fixed assets | 22/27 | €129,779 | €463,195 | +€333,416 | +257% |
| Land and buildings | 22 | - | €289,100 | +€289,100 | |
| Furniture and vehicles | 24 | €64,384 | €68,849 | +€4,465 | +6.9% |
| Leasing and similar rights | 25 | €65,395 | €105,246 | +€39,851 | +60.9% |
| Current assets | 29/58 | €300,109 | €338,756 | +€38,647 | +12.9% |
| Amounts receivable within one year | 40/41 | €81,084 | €142,877 | +€61,793 | +76.2% |
| Trade receivables | 40 | €53,660 | €112,398 | +€58,738 | +109% |
| Other amounts receivable | 41 | €27,424 | €30,479 | +€3,055 | +11.1% |
| Current investments | 50/53 | €10,000 | - | -€10,000 | |
| Cash at bank and in hand | 54/58 | €208,475 | €195,307 | -€13,168 | -6.3% |
| Deferred charges and accrued income | 490/1 | €550 | €572 | +€22 | +4.1% |
| Total equity and liabilities | 10/49 | €429,888 | €801,951 | +€372,063 | +86.5% |
| Equity | 10/15 | €308,444 | €404,916 | +€96,472 | +31.3% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €288,444 | €384,916 | +€96,472 | +33.4% |
| Amounts payable | 17/49 | €121,443 | €397,034 | +€275,591 | +227% |
| Amounts payable after more than one year | 17 | €50,762 | €272,769 | +€222,007 | +437% |
| Financial debts | 170/4 | €50,762 | €272,769 | +€222,007 | +437% |
| Amounts payable within one year | 42/48 | €70,681 | €124,265 | +€53,584 | +75.8% |
| Current portion of amounts payable after more than one year | 42 | €24,163 | €63,426 | +€39,264 | +162% |
| Trade debts | 44 | €12,334 | €13,975 | +€1,641 | +13.3% |
| Suppliers | 440/4 | €12,334 | €13,975 | +€1,641 | +13.3% |
| Taxes, remuneration and social security | 45 | €9,399 | €24,314 | +€14,914 | +159% |
| Taxes | 450/3 | €6,238 | €15,647 | +€9,408 | +151% |
| Remuneration and social security | 454/9 | €3,161 | €8,667 | +€5,506 | +174% |
| Other amounts payable | 47/48 | €24,786 | €22,550 | -€2,235 | -9.0% |
| Remuneration, social security and pensions | 62 | - | €26,967 | +€26,967 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,729 | €62,763 | +€16,034 | +34.3% |
| Other operating charges | 640/8 | €4,488 | €2,544 | -€1,943 | -43.3% |
| Gross operating margin | 9900 | €88,531 | €239,854 | +€151,324 | +171% |
| Operating profit (loss) | 9901 | €37,314 | €147,580 | +€110,266 | +296% |
| Financial income | 75/76B | €0 | €310 | +€310 | +79,487% |
| Recurring financial income | 75 | €0 | €310 | +€310 | +79,487% |
| Financial charges | 65/66B | €4,044 | €8,873 | +€4,829 | +119% |
| Recurring financial charges | 65 | €4,044 | €8,873 | +€4,829 | +119% |
| Profit (loss) for the period before taxes | 9903 | €33,271 | €139,018 | +€105,747 | +318% |
| Income taxes | 67/77 | €7,415 | €30,781 | +€23,367 | +315% |
| Profit (loss) for the period | 9904 | €25,856 | €108,237 | +€82,381 | +319% |
| Profit (loss) for the period to be appropriated | 9905 | €25,856 | €108,237 | +€82,381 | +319% |
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 29 October 2026 via checked.be.