J.M.M.J.: 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.M.J.
Largest movements
- Tangible fixed assets -€264,854
down €264,854 (-35.0%), from €756,136 to €491,282
- Receivables within one year +€110,262
up €110,262 (+1,087%), from €10,145 to €120,406
of which Trade receivables: +€55,855
- Other debts -€150,000
down €150,000 (-20.4%), from €736,500 to €586,500
- Debts after one year -€28,500
down €28,500 (-11.9%), from €239,875 to €211,375
- Profit (loss) carried forward +€19,354
up €19,354 (+18.0%), from -€107,270 to -€87,916
- Gross operating margin +€64,998
up €64,998, from -€15,328 to €49,670
- Depreciation -€3,059
down €3,059 (-16.0%), from €19,159 to €16,101
- Financial charges +€2,707
up €2,707 (+31.8%), from €8,511 to €11,218
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 | €1,739,122 | €1,581,688 | -€157,434 | -9.1% |
| Fixed assets | 21/28 | €1,726,136 | €1,461,282 | -€264,854 | -15.3% |
| Tangible fixed assets | 22/27 | €756,136 | €491,282 | -€264,854 | -35.0% |
| Land and buildings | 22 | €756,136 | €491,282 | -€264,854 | -35.0% |
| Financial fixed assets | 28 | €970,000 | €970,000 | = | 0.0% |
| Current assets | 29/58 | €12,987 | €120,406 | +€107,420 | +827% |
| Amounts receivable within one year | 40/41 | €10,145 | €120,406 | +€110,262 | +1,087% |
| Trade receivables | 40 | €3,601 | €59,456 | +€55,855 | +1,551% |
| Other amounts receivable | 41 | €6,544 | €60,951 | +€54,407 | +831% |
| Cash at bank and in hand | 54/58 | €2,842 | €0 | -€2,842 | -100% |
| Total equity and liabilities | 10/49 | €1,739,122 | €1,581,688 | -€157,434 | -9.1% |
| Equity | 10/15 | €727,730 | €747,084 | +€19,354 | +2.7% |
| Contributions | 10/11 | €835,000 | €835,000 | = | 0.0% |
| Capital | 10 | €835,000 | €835,000 | = | 0.0% |
| Issued capital | 100 | €935,000 | €935,000 | = | 0.0% |
| Uncalled capital | 101 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€107,270 | -€87,916 | +€19,354 | +18.0% |
| Amounts payable | 17/49 | €1,011,392 | €834,604 | -€176,788 | -17.5% |
| Amounts payable after more than one year | 17 | €239,875 | €211,375 | -€28,500 | -11.9% |
| Financial debts | 170/4 | €239,875 | €211,375 | -€28,500 | -11.9% |
| Amounts payable within one year | 42/48 | €770,451 | €622,162 | -€148,289 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €28,500 | €28,500 | = | 0.0% |
| Financial debts | 43 | - | €2,326 | +€2,326 | |
| Credit institutions | 430/8 | - | €2,326 | +€2,326 | |
| Trade debts | 44 | €5,451 | €4,836 | -€615 | -11.3% |
| Suppliers | 440/4 | €5,451 | €4,836 | -€615 | -11.3% |
| Other amounts payable | 47/48 | €736,500 | €586,500 | -€150,000 | -20.4% |
| Accrued charges and deferred income | 492/3 | €1,066 | €1,067 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,159 | €16,101 | -€3,059 | -16.0% |
| Other operating charges | 640/8 | €2,843 | €2,998 | +€155 | +5.4% |
| Gross operating margin | 9900 | -€15,328 | €49,670 | +€64,998 | |
| Operating profit (loss) | 9901 | -€37,331 | €30,571 | +€67,902 | |
| Financial charges | 65/66B | €8,511 | €11,218 | +€2,707 | +31.8% |
| Recurring financial charges | 65 | €8,511 | €11,218 | +€2,707 | +31.8% |
| Profit (loss) for the period before taxes | 9903 | -€45,842 | €19,354 | +€65,196 | |
| Profit (loss) for the period | 9904 | -€45,842 | €19,354 | +€65,196 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,842 | €19,354 | +€65,196 |
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 22 October 2026 via checked.be.