J-M SENTERRE MANAGEMENT: 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 SENTERRE MANAGEMENT
Largest movements
- Current investments +€257,517
up €257,517 (+31.6%), from €814,000 to €1.1m
- Cash -€123,845
down €123,845 (-24.5%), from €504,832 to €380,986
mainly Current investments (-€257,517) and Contributions, distributions and other (-€208,800)
- Other debts +€108,785
up €108,785 (+83.1%), from €130,938 to €239,722
- Reserves +€33,940
up €33,940 (+2.7%), from €1.3m to €1.3m
- Gross operating margin -€60,083
down €60,083 (-13.9%), from €430,908 to €370,825
- Taxes -€41,076
down €41,076 (-27.0%), from €152,277 to €111,201
- Financial charges +€8,893
up €8,893 (+421%), from €2,113 to €11,006
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 | €1,477,488 | €1,611,742 | +€134,255 | +9.1% |
| Fixed assets | 21/28 | €124,509 | €125,366 | +€858 | +0.7% |
| Tangible fixed assets | 22/27 | €73,979 | €74,836 | +€858 | +1.2% |
| Land and buildings | 22 | €70,270 | €66,976 | -€3,294 | -4.7% |
| Plant, machinery and equipment | 23 | - | €6,165 | +€6,165 | |
| Furniture and vehicles | 24 | €3,708 | €1,695 | -€2,013 | -54.3% |
| Financial fixed assets | 28 | €50,530 | €50,530 | = | 0.0% |
| Current assets | 29/58 | €1,352,979 | €1,486,376 | +€133,397 | +9.9% |
| Amounts receivable within one year | 40/41 | €28,074 | €27,406 | -€668 | -2.4% |
| Trade receivables | 40 | €4,509 | €4,646 | +€137 | +3.0% |
| Other amounts receivable | 41 | €23,565 | €22,760 | -€805 | -3.4% |
| Current investments | 50/53 | €814,000 | €1,071,517 | +€257,517 | +31.6% |
| Cash at bank and in hand | 54/58 | €504,832 | €380,986 | -€123,845 | -24.5% |
| Deferred charges and accrued income | 490/1 | €6,074 | €6,468 | +€394 | +6.5% |
| Total equity and liabilities | 10/49 | €1,477,488 | €1,611,742 | +€134,255 | +9.1% |
| Equity | 10/15 | €1,309,871 | €1,343,819 | +€33,948 | +2.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,259,470 | €1,293,410 | +€33,940 | +2.7% |
| Distributable reserves | 133 | €1,259,470 | €1,293,410 | +€33,940 | +2.7% |
| Profit (loss) carried forward | 14 | €401 | €409 | +€8 | +1.9% |
| Amounts payable | 17/49 | €167,616 | €267,924 | +€100,307 | +59.8% |
| Amounts payable within one year | 42/48 | €167,616 | €266,844 | +€99,227 | +59.2% |
| Current portion of amounts payable after more than one year | 42 | €5,565 | - | -€5,565 | |
| Trade debts | 44 | €1,376 | €2,847 | +€1,471 | +107% |
| Suppliers | 440/4 | €1,376 | €2,847 | +€1,471 | +107% |
| Taxes, remuneration and social security | 45 | €29,737 | €24,274 | -€5,463 | -18.4% |
| Taxes | 450/3 | €26,937 | €24,274 | -€2,663 | -9.9% |
| Remuneration and social security | 454/9 | €2,800 | - | -€2,800 | |
| Other amounts payable | 47/48 | €130,938 | €239,722 | +€108,785 | +83.1% |
| Accrued charges and deferred income | 492/3 | - | €1,080 | +€1,080 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,464 | €5,769 | +€305 | +5.6% |
| Other operating charges | 640/8 | €3,196 | €2,292 | -€904 | -28.3% |
| Gross operating margin | 9900 | €430,908 | €370,825 | -€60,083 | -13.9% |
| Operating profit (loss) | 9901 | €422,248 | €362,764 | -€59,484 | -14.1% |
| Financial income | 75/76B | €1,517 | €2,190 | +€673 | +44.4% |
| Recurring financial income | 75 | €1,517 | €2,190 | +€673 | +44.4% |
| Financial charges | 65/66B | €2,113 | €11,006 | +€8,893 | +421% |
| Recurring financial charges | 65 | €2,113 | €11,006 | +€8,893 | +421% |
| Profit (loss) for the period before taxes | 9903 | €421,652 | €353,948 | -€67,704 | -16.1% |
| Income taxes | 67/77 | €152,277 | €111,201 | -€41,076 | -27.0% |
| Profit (loss) for the period | 9904 | €269,375 | €242,748 | -€26,628 | -9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €269,375 | €242,748 | -€26,628 | -9.9% |
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 30 October 2026 via checked.be.