J.P.M.: 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.
What changed
J.P.M.
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€11,505
2024 · €1.2m-€1.2m
Equity
€1.7m
2024 · €1.7m+€11,505
Cash
€207
2024 · €11,836-€11,629
Balance sheet total
€4.5m
2024 · €4.4m+€67,256
Largest movements
Assets
- Receivables within one year -€152,801
down €152,801 (-37.8%), from €404,407 to €251,606
of which Trade receivables: -€217,680
- Receivables after one year +€151,038
up €151,038 (+14.9%), from €1.0m to €1.2m
- Tangible fixed assets +€48,731
up €48,731 (+1.8%), from €2.7m to €2.8m
of which Land and buildings: +€43,556
Equity and liabilities
- Debts after one year +€134,252
up €134,252 (+6.7%), from €2.0m to €2.1m
- Other debts -€73,671
down €73,671 (-38.1%), from €193,317 to €119,646
- Trade debts -€67,394
down €67,394 (-81.9%), from €82,277 to €14,883
Income statement
- Gross operating margin -€1.4m
down €1.4m (-88.6%), from €1.6m to €180,089
- Depreciation +€95,183
up €95,183 (+20,912%), from €455 to €95,638
- Taxes -€33,598
down €33,598 (-56.5%), from €59,504 to €25,906
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.
Result 2024
€1.2m
Gross operating margin
-€1.4m
Staff costs
+€182
Depreciation
-€95,183
Other operating charges
-€5,272
Financial income
+€13,021
Financial charges
-€11,497
Taxes
+€33,598
Deferred taxes and other
+€270,996
Result 2025
€11,505
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€32,601
Investment
-€144,369
Financing
+€165,342
Cash 2024
€11,836
From operations (derived)
-€32,601
Net result for the year
+€11,505
Depreciation
+€95,638
Receivables after one year
-€151,038
Receivables within one year
+€152,801
Deferred charges and accrued income
-€31,917
Provisions
-€10,423
Trade debts
-€67,394
Tax, wage and social debts
+€44,447
Advances received
-€2,550
Other debts
-€73,671
Investment (derived)
-€144,369
Investment in fixed assets (net)
-€144,369
Financing
+€165,342
Debts after one year
+€134,252
Current portion of long-term debt
+€19,134
Short-term financial debts
+€11,956
Cash 2025
€207
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,436,853 | €4,504,109 | +€67,256 | +1.5% |
| Fixed assets | 21/28 | €2,870,339 | €2,919,070 | +€48,731 | +1.7% |
| Tangible fixed assets | 22/27 | €2,703,676 | €2,752,407 | +€48,731 | +1.8% |
| Land and buildings | 22 | €2,694,641 | €2,738,197 | +€43,556 | +1.6% |
| Furniture and vehicles | 24 | €1,372 | €917 | -€455 | -33.2% |
| Other tangible fixed assets | 26 | €7,663 | €13,293 | +€5,630 | +73.5% |
| Financial fixed assets | 28 | €166,663 | €166,663 | = | 0.0% |
| Current assets | 29/58 | €1,566,514 | €1,585,038 | +€18,525 | +1.2% |
| Amounts receivable after more than one year | 29 | €1,010,860 | €1,161,898 | +€151,038 | +14.9% |
| Other amounts receivable | 291 | €1,010,860 | €1,161,898 | +€151,038 | +14.9% |
| Amounts receivable within one year | 40/41 | €404,407 | €251,606 | -€152,801 | -37.8% |
| Trade receivables | 40 | €242,074 | €24,394 | -€217,680 | -89.9% |
| Other amounts receivable | 41 | €162,333 | €227,211 | +€64,878 | +40.0% |
| Cash at bank and in hand | 54/58 | €11,836 | €207 | -€11,629 | -98.2% |
| Deferred charges and accrued income | 490/1 | €139,410 | €171,327 | +€31,917 | +22.9% |
| Total equity and liabilities | 10/49 | €4,436,853 | €4,504,109 | +€67,256 | +1.5% |
| Equity | 10/15 | €1,680,785 | €1,692,290 | +€11,505 | +0.7% |
| Contributions | 10/11 | €45,821 | €45,821 | = | 0.0% |
| Reserves | 13 | €1,634,963 | €1,646,469 | +€11,505 | +0.7% |
| Tax-exempt reserves | 132 | €791,544 | €760,275 | -€31,269 | -4.0% |
| Distributable reserves | 133 | €843,419 | €886,193 | +€42,774 | +5.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €260,573 | €250,150 | -€10,423 | -4.0% |
| Deferred taxes | 168 | €260,573 | €250,150 | -€10,423 | -4.0% |
| Amounts payable | 17/49 | €2,495,495 | €2,561,669 | +€66,174 | +2.7% |
| Amounts payable after more than one year | 17 | €2,001,870 | €2,136,123 | +€134,252 | +6.7% |
| Financial debts | 170/4 | €2,001,870 | €2,136,123 | +€134,252 | +6.7% |
| Amounts payable within one year | 42/48 | €493,625 | €425,547 | -€68,079 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €124,011 | €143,145 | +€19,134 | +15.4% |
| Financial debts | 43 | €27,444 | €39,400 | +€11,956 | +43.6% |
| Credit institutions | 430/8 | €27,444 | €39,400 | +€11,956 | +43.6% |
| Trade debts | 44 | €82,277 | €14,883 | -€67,394 | -81.9% |
| Suppliers | 440/4 | €82,277 | €14,883 | -€67,394 | -81.9% |
| Advances received on contracts in progress | 46 | €2,550 | €0 | -€2,550 | -100% |
| Taxes, remuneration and social security | 45 | €64,026 | €108,473 | +€44,447 | +69.4% |
| Taxes | 450/3 | €64,026 | €108,473 | +€44,447 | +69.4% |
| Other amounts payable | 47/48 | €193,317 | €119,646 | -€73,671 | -38.1% |
| Non-recurring operating income | 76A | €311,771 | €0 | -€311,771 | -100% |
| Remuneration, social security and pensions | 62 | €182 | €0 | -€182 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €455 | €95,638 | +€95,183 | +20,912% |
| Other operating charges | 640/8 | €4,330 | €9,602 | +€5,272 | +122% |
| Gross operating margin | 9900 | €1,573,204 | €180,089 | -€1.4m | -88.6% |
| Operating profit (loss) | 9901 | €1,568,237 | €74,849 | -€1.5m | -95.2% |
| Financial income | 75/76B | €24,140 | €37,161 | +€13,021 | +53.9% |
| Recurring financial income | 75 | €24,140 | €37,161 | +€13,021 | +53.9% |
| Financial charges | 65/66B | €73,524 | €85,021 | +€11,497 | +15.6% |
| Recurring financial charges | 65 | €73,524 | €85,021 | +€11,497 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €1,518,853 | €26,988 | -€1.5m | -98.2% |
| Transfer from deferred taxes | 780 | - | €10,423 | +€10,423 | |
| Transfer to deferred taxes | 680 | €260,573 | €0 | -€260,573 | -100% |
| Income taxes | 67/77 | €59,504 | €25,906 | -€33,598 | -56.5% |
| Profit (loss) for the period | 9904 | €1,198,776 | €11,505 | -€1.2m | -99.0% |
| Transfer from tax-exempt reserves | 789 | - | €31,269 | +€31,269 | |
| Transfer to tax-exempt reserves | 689 | €781,718 | €0 | -€781,718 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €417,058 | €42,774 | -€374,284 | -89.7% |
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.