J&M Projects: 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 Projects
Largest movements
- Cash +€100,151
up €100,151 (+128.9%), from €77,692 to €177,843
mainly Receivables within one year (+€86,173) and Net result for the year (+€64,934)
- Receivables within one year -€86,173
down €86,173 (-45.5%), from €189,483 to €103,310
of which Other amounts receivable: -€69,423
- Receivables after one year -€48,437
down €48,437 (-69.3%), from €69,845 to €21,408
- Tangible fixed assets -€6,955
down €6,955 (-9.3%), from €75,031 to €68,076
of which Other tangible fixed assets: -€8,118
- Reserves -€24,734
down €24,734 (-6.5%), from €381,125 to €356,391
- Trade debts -€8,205
down €8,205 (-87.2%), from €9,404 to €1,200
- Debts after one year -€5,219
down €5,219 (-74.7%), from €6,989 to €1,770
- Depreciation +€3,727
up €3,727 (+35.5%), from €10,502 to €14,229
- Gross operating margin +€2,012
up €2,012 (+1.8%), from €114,515 to €116,527
- Financial income -€1,182
down €1,182 (-55.6%), from €2,125 to €943
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 | €412,243 | €370,780 | -€41,463 | -10.1% |
| Fixed assets | 21/28 | €75,031 | €68,076 | -€6,955 | -9.3% |
| Tangible fixed assets | 22/27 | €75,031 | €68,076 | -€6,955 | -9.3% |
| Land and buildings | 22 | €3,632 | €3,132 | -€500 | -13.8% |
| Furniture and vehicles | 24 | €19,949 | €21,612 | +€1,663 | +8.3% |
| Other tangible fixed assets | 26 | €51,450 | €43,333 | -€8,118 | -15.8% |
| Current assets | 29/58 | €337,212 | €302,704 | -€34,508 | -10.2% |
| Amounts receivable after more than one year | 29 | €69,845 | €21,408 | -€48,437 | -69.3% |
| Other amounts receivable | 291 | €69,845 | €21,408 | -€48,437 | -69.3% |
| Amounts receivable within one year | 40/41 | €189,483 | €103,310 | -€86,173 | -45.5% |
| Trade receivables | 40 | €112,262 | €95,512 | -€16,750 | -14.9% |
| Other amounts receivable | 41 | €77,221 | €7,798 | -€69,423 | -89.9% |
| Cash at bank and in hand | 54/58 | €77,692 | €177,843 | +€100,151 | +128.9% |
| Deferred charges and accrued income | 490/1 | €192 | €143 | -€49 | -25.3% |
| Total equity and liabilities | 10/49 | €412,243 | €370,780 | -€41,463 | -10.1% |
| Equity | 10/15 | €387,325 | €362,591 | -€24,734 | -6.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €381,125 | €356,391 | -€24,734 | -6.5% |
| Distributable reserves | 133 | €381,125 | €356,391 | -€24,734 | -6.5% |
| Amounts payable | 17/49 | €24,918 | €8,189 | -€16,729 | -67.1% |
| Amounts payable after more than one year | 17 | €6,989 | €1,770 | -€5,219 | -74.7% |
| Financial debts | 170/4 | €6,989 | €1,770 | -€5,219 | -74.7% |
| Amounts payable within one year | 42/48 | €17,928 | €6,419 | -€11,509 | -64.2% |
| Current portion of amounts payable after more than one year | 42 | €5,620 | €5,219 | -€401 | -7.1% |
| Trade debts | 44 | €9,404 | €1,200 | -€8,205 | -87.2% |
| Suppliers | 440/4 | €9,404 | €1,200 | -€8,205 | -87.2% |
| Taxes, remuneration and social security | 45 | €2,904 | - | -€2,904 | |
| Taxes | 450/3 | €2,904 | - | -€2,904 | |
| Non-recurring operating income | 76A | - | €150 | +€150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,502 | €14,229 | +€3,727 | +35.5% |
| Other operating charges | 640/8 | €2,280 | €1,155 | -€1,125 | -49.3% |
| Gross operating margin | 9900 | €114,515 | €116,527 | +€2,012 | +1.8% |
| Operating profit (loss) | 9901 | €101,733 | €101,143 | -€589 | -0.6% |
| Financial income | 75/76B | €2,125 | €943 | -€1,182 | -55.6% |
| Recurring financial income | 75 | €2,125 | €943 | -€1,182 | -55.6% |
| Financial charges | 65/66B | €3,733 | €3,393 | -€340 | -9.1% |
| Recurring financial charges | 65 | €3,733 | €3,393 | -€340 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €100,124 | €98,693 | -€1,432 | -1.4% |
| Income taxes | 67/77 | €33,667 | €33,759 | +€92 | +0.3% |
| Profit (loss) for the period | 9904 | €66,458 | €64,934 | -€1,524 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €66,458 | €64,934 | -€1,524 | -2.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.