JAMAR: 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.
JAMAR
Largest movements
- Current investments +€253,912
up €253,912 (+6.9%), from €3.7m to €3.9m
- Reserves +€237,985
up €237,985 (+6.3%), from €3.8m to €4.0m
of which Distributable reserves: +€237,985
- Financial income -€572,330
down €572,330 (-83.5%), from €685,475 to €113,144
of which Non-recurring financial income: -€607,474
- Taxes -€185,747
down €185,747 (-66.4%), from €279,761 to €94,015
- Gross operating margin +€19,672
up €19,672 (+9.8%), from €201,465 to €221,137
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,029,544 | €4,279,378 | +€249,834 | +6.2% |
| Fixed assets | 21/28 | €2,727 | €2,727 | = | 0.0% |
| Tangible fixed assets | 22/27 | €2,727 | €2,727 | = | 0.0% |
| Furniture and vehicles | 24 | €2,727 | €2,727 | = | 0.0% |
| Current assets | 29/58 | €4,026,817 | €4,276,651 | +€249,834 | +6.2% |
| Amounts receivable within one year | 40/41 | €231,208 | €227,363 | -€3,845 | -1.7% |
| Trade receivables | 40 | €31,208 | €27,363 | -€3,845 | -12.3% |
| Other amounts receivable | 41 | €200,000 | €200,000 | = | 0.0% |
| Current investments | 50/53 | €3,656,528 | €3,910,441 | +€253,912 | +6.9% |
| Cash at bank and in hand | 54/58 | €132,990 | €132,598 | -€392 | -0.3% |
| Deferred charges and accrued income | 490/1 | €6,091 | €6,249 | +€158 | +2.6% |
| Total equity and liabilities | 10/49 | €4,029,544 | €4,279,378 | +€249,834 | +6.2% |
| Equity | 10/15 | €3,922,616 | €4,160,601 | +€237,985 | +6.1% |
| Contributions | 10/11 | €156,732 | €156,732 | = | 0.0% |
| Reserves | 13 | €3,764,859 | €4,002,844 | +€237,985 | +6.3% |
| Non-distributable reserves | 130/1 | €17,359 | €17,359 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,359 | €17,359 | = | 0.0% |
| Distributable reserves | 133 | €3,747,500 | €3,985,485 | +€237,985 | +6.4% |
| Profit (loss) carried forward | 14 | €1,025 | €1,025 | +€0 | 0.0% |
| Amounts payable | 17/49 | €106,928 | €118,777 | +€11,849 | +11.1% |
| Amounts payable within one year | 42/48 | €106,928 | €118,777 | +€11,849 | +11.1% |
| Trade debts | 44 | €1,620 | €493 | -€1,127 | -69.6% |
| Suppliers | 440/4 | €1,620 | €493 | -€1,127 | -69.6% |
| Taxes, remuneration and social security | 45 | €102,652 | €115,627 | +€12,975 | +12.6% |
| Taxes | 450/3 | €102,652 | €115,627 | +€12,975 | +12.6% |
| Other amounts payable | 47/48 | €2,656 | €2,656 | = | 0.0% |
| Other operating charges | 640/8 | €2,855 | €1,756 | -€1,098 | -38.5% |
| Gross operating margin | 9900 | €201,465 | €221,137 | +€19,672 | +9.8% |
| Operating profit (loss) | 9901 | €198,610 | €219,381 | +€20,770 | +10.5% |
| Financial income | 75/76B | €685,475 | €113,144 | -€572,330 | -83.5% |
| Recurring financial income | 75 | €78,000 | €113,144 | +€35,144 | +45.1% |
| Non-recurring financial income | 76B | €607,474 | - | -€607,474 | |
| Financial charges | 65/66B | €277 | €525 | +€247 | +89.1% |
| Recurring financial charges | 65 | €277 | €525 | +€247 | +89.1% |
| Profit (loss) for the period before taxes | 9903 | €883,808 | €332,000 | -€551,807 | -62.4% |
| Income taxes | 67/77 | €279,761 | €94,015 | -€185,747 | -66.4% |
| Profit (loss) for the period | 9904 | €604,046 | €237,985 | -€366,061 | -60.6% |
| Profit (loss) for the period to be appropriated | 9905 | €604,046 | €237,985 | -€366,061 | -60.6% |
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 8 October 2026 via checked.be.