JAMAC: 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.
JAMAC
Largest movements
- Receivables within one year +€334,605
up €334,605 (+153%), from €218,993 to €553,598
of which Trade receivables: +€322,678
- Financial fixed assets -€250,000
down €250,000 (-100%), from €250,000 to €0
- Cash -€26,294
down €26,294 (-24.7%), from €106,526 to €80,232
mainly Receivables within one year (-€334,605)
- Reserves +€39,511
up €39,511 (+15.4%), from €256,203 to €295,714
- Other debts +€11,545
up €11,545 (+4.9%), from €237,741 to €249,286
- Gross operating margin -€34,752
down €34,752 (-32.3%), from €107,694 to €72,943
- Taxes -€9,278
down €9,278 (-37.6%), from €24,679 to €15,401
- Financial charges -€3,640
down €3,640 (-17.4%), from €20,895 to €17,255
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 | €651,664 | €709,662 | +€57,997 | +8.9% |
| Fixed assets | 21/28 | €324,275 | €73,961 | -€250,314 | -77.2% |
| Tangible fixed assets | 22/27 | €74,275 | €73,961 | -€314 | -0.4% |
| Land and buildings | 22 | €73,546 | €73,546 | = | 0.0% |
| Plant, machinery and equipment | 23 | €728 | €415 | -€314 | -43.1% |
| Financial fixed assets | 28 | €250,000 | €0 | -€250,000 | -100% |
| Current assets | 29/58 | €327,390 | €635,701 | +€308,311 | +94.2% |
| Amounts receivable within one year | 40/41 | €218,993 | €553,598 | +€334,605 | +153% |
| Trade receivables | 40 | €216,152 | €538,830 | +€322,678 | +149% |
| Other amounts receivable | 41 | €2,841 | €14,767 | +€11,927 | +420% |
| Cash at bank and in hand | 54/58 | €106,526 | €80,232 | -€26,294 | -24.7% |
| Deferred charges and accrued income | 490/1 | €1,871 | €1,871 | = | 0.0% |
| Total equity and liabilities | 10/49 | €651,664 | €709,662 | +€57,997 | +8.9% |
| Equity | 10/15 | €336,203 | €375,714 | +€39,511 | +11.8% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €256,203 | €295,714 | +€39,511 | +15.4% |
| Distributable reserves | 133 | €256,203 | €295,714 | +€39,511 | +15.4% |
| Amounts payable | 17/49 | €315,461 | €333,947 | +€18,486 | +5.9% |
| Amounts payable within one year | 42/48 | €311,861 | €329,897 | +€18,036 | +5.8% |
| Financial debts | 43 | €12,500 | €15,000 | +€2,500 | +20.0% |
| Credit institutions | 430/8 | €12,500 | €15,000 | +€2,500 | +20.0% |
| Trade debts | 44 | €3,168 | €2,965 | -€203 | -6.4% |
| Suppliers | 440/4 | €3,168 | €2,965 | -€203 | -6.4% |
| Taxes, remuneration and social security | 45 | €58,453 | €62,646 | +€4,194 | +7.2% |
| Taxes | 450/3 | €25,101 | €26,516 | +€1,415 | +5.6% |
| Remuneration and social security | 454/9 | €33,351 | €36,131 | +€2,779 | +8.3% |
| Other amounts payable | 47/48 | €237,741 | €249,286 | +€11,545 | +4.9% |
| Accrued charges and deferred income | 492/3 | €3,600 | €4,050 | +€450 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €314 | €314 | = | 0.0% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €107,694 | €72,943 | -€34,752 | -32.3% |
| Operating profit (loss) | 9901 | €106,931 | €72,167 | -€34,764 | -32.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €20,895 | €17,255 | -€3,640 | -17.4% |
| Recurring financial charges | 65 | €20,895 | €17,255 | -€3,640 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €86,036 | €54,912 | -€31,124 | -36.2% |
| Income taxes | 67/77 | €24,679 | €15,401 | -€9,278 | -37.6% |
| Profit (loss) for the period | 9904 | €61,357 | €39,511 | -€21,846 | -35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €61,357 | €39,511 | -€21,846 | -35.6% |
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 31 October 2026 via checked.be.