J.N.M. IMMO: what changed
What changed
J.N.M. IMMO
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€186,354
2024 · €165,041+€21,313
Equity
€1.2m
2024 · €974,762+€185,565
Cash
€42,955
2024 · €52,980-€10,024
Balance sheet total
€1.9m
2024 · €1.9m-€59,073
Largest movements
Assets
- Stocks and contracts -€128,145
down €128,145 (-35.0%), from €365,822 to €237,677
of which Stocks: -€126,269
- Tangible fixed assets +€54,402
up €54,402 (+4.2%), from €1.3m to €1.3m
of which Furniture and vehicles: +€57,429
- Receivables within one year +€23,551
up €23,551 (+13.3%), from €176,859 to €200,410
of which Other amounts receivable: +€12,145
Equity and liabilities
- Reserves +€184,288
up €184,288 (+38.2%), from €481,948 to €666,236
of which Tax-exempt reserves: +€184,288
- Other debts -€132,158
down €132,158 (-68.0%), from €194,473 to €62,315
- Trade debts -€81,535
down €81,535 (-56.9%), from €143,311 to €61,776
- Provisions +€61,429
up €61,429 (+34.8%), from €176,396 to €237,825
of which Deferred taxes: +€61,429
- Short-term financial debts -€50,000
down €50,000 (-50.0%), from €100,000 to €50,000
Income statement
- Gross operating margin +€55,023
up €55,023 (+17.2%), from €319,101 to €374,124
- Depreciation +€27,501
up €27,501 (+55.3%), from €49,703 to €77,204
- Staff costs +€11,467
up €11,467 (+791%), from €1,449 to €12,916
- Financial charges +€7,859
up €7,859 (+31.5%), from €24,910 to €32,769
- Write-downs -€7,376
down €7,376, from €1,025 to -€6,351
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.
Result 2024
€165,041
Gross operating margin
+€55,023
Staff costs
-€11,467
Depreciation
-€27,501
Write-downs
+€7,376
Other operating charges
-€431
Financial income
-€1,632
Financial charges
-€7,859
Deferred taxes and other
+€7,805
Result 2025
€186,354
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€214,650
Investment
-€131,606
Financing
-€93,068
Cash 2024
€52,980
From operations (derived)
+€214,650
Net result for the year
+€186,354
Depreciation
+€77,204
Stocks and contracts
+€128,145
Receivables within one year
-€23,551
Deferred charges and accrued income
-€1,144
Provisions
+€61,429
Trade debts
-€81,535
Tax, wage and social debts
+€1,210
Other debts
-€132,158
Accrued charges and deferred income
-€1,305
Investment (derived)
-€131,606
Investment in fixed assets (net)
-€131,606
Financing
-€93,068
Debts after one year
-€43,592
Current portion of long-term debt
+€1,313
Short-term financial debts
-€50,000
Contributions, distributions and other
-€789
Cash 2025
€42,955
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,916,449 | €1,857,376 | -€59,073 | -3.1% |
| Fixed assets | 21/28 | €1,281,847 | €1,336,249 | +€54,402 | +4.2% |
| Tangible fixed assets | 22/27 | €1,281,847 | €1,336,249 | +€54,402 | +4.2% |
| Land and buildings | 22 | €1,230,352 | €1,171,044 | -€59,308 | -4.8% |
| Plant, machinery and equipment | 23 | €3,051 | €7,275 | +€4,224 | +138% |
| Furniture and vehicles | 24 | €31,931 | €89,360 | +€57,429 | +180% |
| Other tangible fixed assets | 26 | €16,514 | €14,440 | -€2,074 | -12.6% |
| Assets under construction and advance payments | 27 | - | €54,130 | +€54,130 | |
| Current assets | 29/58 | €634,601 | €521,127 | -€113,474 | -17.9% |
| Stocks and contracts in progress | 3 | €365,822 | €237,677 | -€128,145 | -35.0% |
| Stocks | 30/36 | €357,962 | €231,692 | -€126,269 | -35.3% |
| Contracts in progress | 37 | €7,861 | €5,985 | -€1,876 | -23.9% |
| Amounts receivable within one year | 40/41 | €176,859 | €200,410 | +€23,551 | +13.3% |
| Trade receivables | 40 | €10,429 | €21,835 | +€11,407 | +109% |
| Other amounts receivable | 41 | €166,430 | €178,575 | +€12,145 | +7.3% |
| Cash at bank and in hand | 54/58 | €52,980 | €42,955 | -€10,024 | -18.9% |
| Deferred charges and accrued income | 490/1 | €38,941 | €40,085 | +€1,144 | +2.9% |
| Total equity and liabilities | 10/49 | €1,916,449 | €1,857,376 | -€59,073 | -3.1% |
| Equity | 10/15 | €974,762 | €1,160,327 | +€185,565 | +19.0% |
| Contributions | 10/11 | €170,307 | €170,307 | = | 0.0% |
| Capital | 10 | €170,307 | €170,307 | = | 0.0% |
| Issued capital | 100 | €170,307 | €170,307 | = | 0.0% |
| Reserves | 13 | €481,948 | €666,236 | +€184,288 | +38.2% |
| Non-distributable reserves | 130/1 | €17,031 | €17,031 | = | 0.0% |
| Legal reserve | 130 | €17,031 | €17,031 | = | 0.0% |
| Tax-exempt reserves | 132 | €464,917 | €649,205 | +€184,288 | +39.6% |
| Profit (loss) carried forward | 14 | €310,674 | €312,739 | +€2,066 | +0.7% |
| Investment grants | 15 | €11,833 | €11,044 | -€789 | -6.7% |
| Provisions and deferred taxes | 16 | €176,396 | €237,825 | +€61,429 | +34.8% |
| Provisions for liabilities and charges | 160/5 | €21,424 | €21,424 | = | 0.0% |
| Other liabilities and charges | 164/5 | €21,424 | €21,424 | = | 0.0% |
| Deferred taxes | 168 | €154,972 | €216,402 | +€61,429 | +39.6% |
| Amounts payable | 17/49 | €765,291 | €459,224 | -€306,067 | -40.0% |
| Amounts payable after more than one year | 17 | €269,879 | €226,287 | -€43,592 | -16.2% |
| Financial debts | 170/4 | €269,879 | €226,287 | -€43,592 | -16.2% |
| Amounts payable within one year | 42/48 | €486,185 | €225,015 | -€261,170 | -53.7% |
| Current portion of amounts payable after more than one year | 42 | €45,857 | €47,170 | +€1,313 | +2.9% |
| Financial debts | 43 | €100,000 | €50,000 | -€50,000 | -50.0% |
| Credit institutions | 430/8 | €100,000 | €50,000 | -€50,000 | -50.0% |
| Trade debts | 44 | €143,311 | €61,776 | -€81,535 | -56.9% |
| Suppliers | 440/4 | €143,311 | €61,776 | -€81,535 | -56.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,544 | €3,755 | +€1,210 | +47.6% |
| Taxes | 450/3 | €2,349 | €3,755 | +€1,406 | +59.8% |
| Remuneration and social security | 454/9 | €195 | €0 | -€195 | -100% |
| Other amounts payable | 47/48 | €194,473 | €62,315 | -€132,158 | -68.0% |
| Accrued charges and deferred income | 492/3 | €9,227 | €7,922 | -€1,305 | -14.1% |
| Remuneration, social security and pensions | 62 | €1,449 | €12,916 | +€11,467 | +791% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,703 | €77,204 | +€27,501 | +55.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,025 | -€6,351 | -€7,376 | |
| Other operating charges | 640/8 | €14,257 | €14,688 | +€431 | +3.0% |
| Gross operating margin | 9900 | €319,101 | €374,124 | +€55,023 | +17.2% |
| Operating profit (loss) | 9901 | €252,668 | €275,667 | +€23,000 | +9.1% |
| Financial income | 75/76B | €6,517 | €4,885 | -€1,632 | -25.0% |
| Recurring financial income | 75 | €6,517 | €4,885 | -€1,632 | -25.0% |
| Financial charges | 65/66B | €24,910 | €32,769 | +€7,859 | +31.5% |
| Recurring financial charges | 65 | €24,910 | €32,769 | +€7,859 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | €234,275 | €247,783 | +€13,509 | +5.8% |
| Transfer from deferred taxes | 780 | €5,257 | €9,821 | +€4,564 | +86.8% |
| Transfer to deferred taxes | 680 | €74,491 | €71,250 | -€3,241 | -4.4% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €165,041 | €186,354 | +€21,313 | +12.9% |
| Transfer from tax-exempt reserves | 789 | €15,770 | €29,462 | +€13,691 | +86.8% |
| Transfer to tax-exempt reserves | 689 | €223,472 | €213,750 | -€9,722 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,662 | €2,066 | +€44,727 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.