JACQMAIN MICHEL: 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.
JACQMAIN MICHEL
Largest movements
- Tangible fixed assets -€6,660
down €6,660 (-31.1%), from €21,435 to €14,775
of which Leasing and similar rights: -€4,688
- Receivables within one year -€5,735
down €5,735 (-16.7%), from €34,257 to €28,522
of which Other amounts receivable: -€5,735
- Stocks and contracts +€1,259
new in 2025: €1,259
- Trade debts -€22,081
down €22,081 (-74.4%), from €29,666 to €7,585
- Profit (loss) carried forward +€10,072
up €10,072 (+44.6%), from -€22,593 to -€12,520
- Debts after one year -€5,459
down €5,459 (-43.3%), from €12,594 to €7,135
- Tax, wage and social debts +€3,666
up €3,666 (+26.8%), from €13,701 to €17,367
of which Remuneration and social security: +€5,235
- Short-term financial debts +€3,645
up €3,645 (+118%), from €3,077 to €6,722
- Staff costs -€7,214
down €7,214 (-18.9%), from €38,144 to €30,930
- Gross operating margin -€2,060
down €2,060 (-3.9%), from €53,134 to €51,074
- Other operating charges -€1,027
down €1,027 (-80.5%), from €1,276 to €249
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €55,738 | €44,555 | -€11,183 | -20.1% |
| Fixed assets | 21/28 | €21,435 | €14,775 | -€6,660 | -31.1% |
| Tangible fixed assets | 22/27 | €21,435 | €14,775 | -€6,660 | -31.1% |
| Furniture and vehicles | 24 | €5,416 | €3,444 | -€1,971 | -36.4% |
| Leasing and similar rights | 25 | €16,019 | €11,330 | -€4,688 | -29.3% |
| Current assets | 29/58 | €34,303 | €29,780 | -€4,523 | -13.2% |
| Stocks and contracts in progress | 3 | - | €1,259 | +€1,259 | |
| Stocks | 30/36 | - | €1,259 | +€1,259 | |
| Amounts receivable within one year | 40/41 | €34,257 | €28,522 | -€5,735 | -16.7% |
| Trade receivables | 40 | €13,915 | €13,915 | = | 0.0% |
| Other amounts receivable | 41 | €20,342 | €14,607 | -€5,735 | -28.2% |
| Deferred charges and accrued income | 490/1 | €46 | - | -€46 | |
| Total equity and liabilities | 10/49 | €55,738 | €44,555 | -€11,183 | -20.1% |
| Equity | 10/15 | -€14,533 | -€4,460 | +€10,072 | +69.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,593 | -€12,520 | +€10,072 | +44.6% |
| Amounts payable | 17/49 | €70,270 | €49,015 | -€21,255 | -30.2% |
| Amounts payable after more than one year | 17 | €12,594 | €7,135 | -€5,459 | -43.3% |
| Financial debts | 170/4 | €12,594 | €7,135 | -€5,459 | -43.3% |
| Amounts payable within one year | 42/48 | €57,676 | €41,880 | -€15,796 | -27.4% |
| Current portion of amounts payable after more than one year | 42 | €5,657 | €5,559 | -€98 | -1.7% |
| Financial debts | 43 | €3,077 | €6,722 | +€3,645 | +118% |
| Credit institutions | 430/8 | €3,077 | €6,722 | +€3,645 | +118% |
| Trade debts | 44 | €29,666 | €7,585 | -€22,081 | -74.4% |
| Suppliers | 440/4 | €29,666 | €7,585 | -€22,081 | -74.4% |
| Taxes, remuneration and social security | 45 | €13,701 | €17,367 | +€3,666 | +26.8% |
| Taxes | 450/3 | €1,569 | - | -€1,569 | |
| Remuneration and social security | 454/9 | €12,132 | €17,367 | +€5,235 | +43.2% |
| Other amounts payable | 47/48 | €5,574 | €4,647 | -€927 | -16.6% |
| Remuneration, social security and pensions | 62 | €38,144 | €30,930 | -€7,214 | -18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,720 | €6,660 | -€60 | -0.9% |
| Other operating charges | 640/8 | €1,276 | €249 | -€1,027 | -80.5% |
| Gross operating margin | 9900 | €53,134 | €51,074 | -€2,060 | -3.9% |
| Operating profit (loss) | 9901 | €6,993 | €13,236 | +€6,242 | +89.3% |
| Financial charges | 65/66B | €3,439 | €3,163 | -€275 | -8.0% |
| Recurring financial charges | 65 | €3,439 | €3,163 | -€275 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €3,555 | €10,072 | +€6,518 | +183% |
| Profit (loss) for the period | 9904 | €3,555 | €10,072 | +€6,518 | +183% |
| Profit (loss) for the period to be appropriated | 9905 | €3,555 | €10,072 | +€6,518 | +183% |
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 1 November 2026 via checked.be.