JAM Holding: 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.
What changed
JAM Holding
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.6m
2024 · -€494,367+€4.1m
Equity
€3.1m
2024 · -€492,367+€3.6m
Cash
€50,402
2024 · €52,046-€1,644
Balance sheet total
€30.3m
2024 · €37.0m-€6.7m
Largest movements
Assets
- Financial fixed assets -€6.8m
down €6.8m (-18.5%), from €37.0m to €30.1m
of which Affiliated companies: -€6.8m
Equity and liabilities
- Current portion of long-term debt -€5.3m
down €5.3m (-59.9%), from €8.9m to €3.6m
- Debts after one year -€5.1m
down €5.1m (-18.3%), from €28.1m to €23.0m
- Reserves +€3.1m
new in 2025: €3.1m
- Profit (loss) carried forward +€494,367
up €494,367, from -€494,367 to €0
Income statement
- Financial income +€4.8m
up €4.8m (+25728230.8%), from €19 to €4.8m
- Financial charges +€681,488
up €681,488 (+124.3%), from €548,119 to €1.2m
- Services and other goods +€100,251
up €100,251 (+141.5%), from €70,874 to €171,124
- Turnover +€95,343
up €95,343 (+80.7%), from €118,117 to €213,460
- Goods and materials +€14,850
new in 2025: €14,850
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
-€494,367
Turnover
+€95,343
Other operating income
-€4,222
Goods and materials
-€14,850
Services and other goods
-€100,251
Depreciation
-€1,438
Other operating charges
-€317
Financial income
+€4.8m
Financial charges
-€681,488
Taxes
+€448
Result 2025
€3.6m
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.
From operations
+€3.7m
Investment
+€6.7m
Financing
-€10.5m
Cash 2024
€52,046
From operations (derived)
+€3.7m
Net result for the year
+€3.6m
Depreciation
+€1,620
Receivables within one year
-€24,961
Trade debts
+€16,989
Tax, wage and social debts
-€7,364
Other debts
+€206,586
Accrued charges and deferred income
-€77,263
Investment (derived)
+€6.7m
Investment in fixed assets (net)
+€6.7m
Financing
-€10.5m
Debts after one year
-€5.1m
Current portion of long-term debt
-€5.3m
Cash 2025
€50,402
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,039,943 | €30,331,525 | -€6.7m | -18.1% |
| Fixed assets | 21/28 | €36,968,235 | €30,236,500 | -€6.7m | -18.2% |
| Tangible fixed assets | 22/27 | €1,483 | €94,748 | +€93,265 | +6290.9% |
| Plant, machinery and equipment | 23 | €1,483 | €928 | -€555 | -37.4% |
| Furniture and vehicles | 24 | - | €85,966 | +€85,966 | |
| Other tangible fixed assets | 26 | - | €7,854 | +€7,854 | |
| Financial fixed assets | 28 | €36,966,752 | €30,141,752 | -€6.8m | -18.5% |
| Affiliated companies | 280/1 | €36,400,000 | €29,575,000 | -€6.8m | -18.8% |
| Participating interests | 280 | €36,400,000 | €29,575,000 | -€6.8m | -18.8% |
| Companies linked by participating interests | 282/3 | €566,352 | €566,352 | = | 0.0% |
| Participating interests | 282 | €566,352 | €566,352 | = | 0.0% |
| Other financial fixed assets | 284/8 | €400 | €400 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €71,708 | €95,025 | +€23,317 | +32.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €19,663 | €44,623 | +€24,961 | +126.9% |
| Trade receivables | 40 | €19,663 | €42,713 | +€23,051 | +117.2% |
| Other amounts receivable | 41 | - | €1,910 | +€1,910 | |
| Cash at bank and in hand | 54/58 | €52,046 | €50,402 | -€1,644 | -3.2% |
| Total equity and liabilities | 10/49 | €37,039,943 | €30,331,525 | -€6.7m | -18.1% |
| Equity | 10/15 | -€492,367 | €3,125,387 | +€3.6m | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €3,123,387 | +€3.1m | |
| Distributable reserves | 133 | - | €3,123,387 | +€3.1m | |
| Profit (loss) carried forward | 14 | -€494,367 | €0 | +€494,367 | |
| Amounts payable | 17/49 | €37,532,310 | €27,206,137 | -€10.3m | -27.5% |
| Amounts payable after more than one year | 17 | €28,107,584 | €22,974,798 | -€5.1m | -18.3% |
| Financial debts | 170/4 | €28,107,584 | €22,974,798 | -€5.1m | -18.3% |
| Credit institutions | 173 | €26,541,232 | €22,974,798 | -€3.6m | -13.4% |
| Other loans | 174 | €1,566,352 | €0 | -€1.6m | -100.0% |
| Amounts payable within one year | 42/48 | €8,913,789 | €3,797,665 | -€5.1m | -57.4% |
| Current portion of amounts payable after more than one year | 42 | €8,898,768 | €3,566,434 | -€5.3m | -59.9% |
| Trade debts | 44 | €5,568 | €22,557 | +€16,989 | +305.1% |
| Suppliers | 440/4 | €5,568 | €22,557 | +€16,989 | +305.1% |
| Taxes, remuneration and social security | 45 | €8,443 | €1,079 | -€7,364 | -87.2% |
| Taxes | 450/3 | €8,443 | €1,079 | -€7,364 | -87.2% |
| Other amounts payable | 47/48 | €1,010 | €207,595 | +€206,586 | +20462.1% |
| Accrued charges and deferred income | 492/3 | €510,937 | €433,675 | -€77,263 | -15.1% |
| Operating income | 70/76A | €125,754 | €216,874 | +€91,120 | +72.5% |
| Turnover | 70 | €118,117 | €213,460 | +€95,343 | +80.7% |
| Other operating income | 74 | €7,636 | €3,414 | -€4,222 | -55.3% |
| Operating charges | 60/66A | €71,257 | €188,114 | +€116,856 | +164.0% |
| Goods for resale, raw materials and consumables | 60 | - | €14,850 | +€14,850 | |
| Purchases | 600/8 | - | €14,850 | +€14,850 | |
| Services and other goods | 61 | €70,874 | €171,124 | +€100,251 | +141.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182 | €1,620 | +€1,438 | +790.5% |
| Other operating charges | 640/8 | €202 | €519 | +€317 | +157.1% |
| Operating profit (loss) | 9901 | €54,496 | €28,761 | -€25,736 | -47.2% |
| Financial income | 75/76B | €19 | €4,818,916 | +€4.8m | +25728230.8% |
| Recurring financial income | 75 | €19 | €4,818,916 | +€4.8m | +25728230.8% |
| Income from financial fixed assets | 750 | - | €4,818,900 | +€4.8m | |
| Other financial income | 752/9 | €19 | €16 | -€3 | -13.3% |
| Financial charges | 65/66B | €548,119 | €1,229,607 | +€681,488 | +124.3% |
| Recurring financial charges | 65 | €548,119 | €1,229,607 | +€681,488 | +124.3% |
| Debt charges | 650 | €539,752 | €1,226,583 | +€686,831 | +127.2% |
| Other financial charges | 652/9 | €8,366 | €3,024 | -€5,343 | -63.9% |
| Profit (loss) for the period before taxes | 9903 | -€493,604 | €3,618,070 | +€4.1m | |
| Income taxes | 67/77 | €764 | €315 | -€448 | -58.7% |
| Taxes | 670/3 | €764 | €315 | -€448 | -58.7% |
| Profit (loss) for the period | 9904 | -€494,367 | €3,617,755 | +€4.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€494,367 | €3,617,755 | +€4.1m |
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.