JAMEC: 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.
JAMEC
Largest movements
- Stocks and contracts +€249,097
up €249,097 (+18.8%), from €1.3m to €1.6m
of which Contracts in progress: +€375,406
- Receivables within one year -€81,273
down €81,273 (-64.0%), from €127,013 to €45,741
of which Trade receivables: -€69,430
- Cash +€36,454
up €36,454 (+179.3%), from €20,328 to €56,783
mainly Advances received (+€364,165) and Depreciation (+€132,384)
- Deferred charges and accrued income +€32,710
up €32,710 (+141.3%), from €23,154 to €55,864
- Tangible fixed assets -€30,960
down €30,960 (-2.6%), from €1.2m to €1.1m
of which Plant, machinery and equipment: -€39,671
- Advances received +€364,165
new in 2025: €364,165
- Debts after one year -€129,658
down €129,658 (-8.4%), from €1.5m to €1.4m
of which Financial debts: -€151,948
- Trade debts -€89,819
down €89,819 (-16.3%), from €550,807 to €460,988
- Gross operating margin -€65,113
down €65,113 (-8.8%), from €740,596 to €675,483
- Depreciation -€60,055
down €60,055 (-31.2%), from €192,438 to €132,384
- Financial charges -€7,848
down €7,848 (-9.3%), from €84,643 to €76,796
of which Financial charges: -€15,488
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 | €2,741,858 | €2,925,676 | +€183,818 | +6.7% |
| Fixed assets | 21/28 | €1,247,849 | €1,194,679 | -€53,170 | -4.3% |
| Intangible fixed assets | 21 | €68,159 | €45,948 | -€22,211 | -32.6% |
| Tangible fixed assets | 22/27 | €1,179,691 | €1,148,731 | -€30,960 | -2.6% |
| Plant, machinery and equipment | 23 | €1,164,988 | €1,125,318 | -€39,671 | -3.4% |
| Furniture and vehicles | 24 | €14,702 | €23,414 | +€8,711 | +59.3% |
| Current assets | 29/58 | €1,494,009 | €1,730,997 | +€236,988 | +15.9% |
| Stocks and contracts in progress | 3 | €1,323,513 | €1,572,610 | +€249,097 | +18.8% |
| Stocks | 30/36 | €267,992 | €141,683 | -€126,309 | -47.1% |
| Contracts in progress | 37 | €1,055,522 | €1,430,927 | +€375,406 | +35.6% |
| Amounts receivable within one year | 40/41 | €127,013 | €45,741 | -€81,273 | -64.0% |
| Trade receivables | 40 | €70,157 | €727 | -€69,430 | -99.0% |
| Other amounts receivable | 41 | €56,856 | €45,013 | -€11,843 | -20.8% |
| Cash at bank and in hand | 54/58 | €20,328 | €56,783 | +€36,454 | +179.3% |
| Deferred charges and accrued income | 490/1 | €23,154 | €55,864 | +€32,710 | +141.3% |
| Total equity and liabilities | 10/49 | €2,741,858 | €2,925,676 | +€183,818 | +6.7% |
| Equity | 10/15 | €435,095 | €448,077 | +€12,982 | +3.0% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €416,095 | €429,077 | +€12,982 | +3.1% |
| Tax-exempt reserves | 132 | €4,584 | €4,584 | = | 0.0% |
| Distributable reserves | 133 | €411,511 | €424,493 | +€12,982 | +3.2% |
| Amounts payable | 17/49 | €2,306,763 | €2,477,599 | +€170,835 | +7.4% |
| Amounts payable after more than one year | 17 | €1,535,501 | €1,405,843 | -€129,658 | -8.4% |
| Financial debts | 170/4 | €807,130 | €655,182 | -€151,948 | -18.8% |
| Other amounts payable | 178/9 | €728,371 | €750,661 | +€22,290 | +3.1% |
| Amounts payable within one year | 42/48 | €735,379 | €1,025,106 | +€289,728 | +39.4% |
| Current portion of amounts payable after more than one year | 42 | €145,941 | €151,948 | +€6,006 | +4.1% |
| Trade debts | 44 | €550,807 | €460,988 | -€89,819 | -16.3% |
| Suppliers | 440/4 | €550,807 | €460,988 | -€89,819 | -16.3% |
| Advances received on contracts in progress | 46 | - | €364,165 | +€364,165 | |
| Taxes, remuneration and social security | 45 | €38,630 | €48,006 | +€9,375 | +24.3% |
| Taxes | 450/3 | €495 | €5,462 | +€4,967 | +1004.3% |
| Remuneration and social security | 454/9 | €38,136 | €42,544 | +€4,408 | +11.6% |
| Accrued charges and deferred income | 492/3 | €35,884 | €46,649 | +€10,765 | +30.0% |
| Non-recurring operating income | 76A | - | €63,506 | +€63,506 | |
| Remuneration, social security and pensions | 62 | €453,425 | €446,318 | -€7,107 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €192,438 | €132,384 | -€60,055 | -31.2% |
| Other operating charges | 640/8 | €1,646 | €1,620 | -€26 | -1.6% |
| Gross operating margin | 9900 | €740,596 | €675,483 | -€65,113 | -8.8% |
| Operating profit (loss) | 9901 | €93,087 | €95,162 | +€2,075 | +2.2% |
| Financial income | 75/76B | €2,511 | €78 | -€2,433 | -96.9% |
| Recurring financial income | 75 | €2,511 | €78 | -€2,433 | -96.9% |
| Financial charges | 65/66B | €84,643 | €76,796 | -€7,848 | -9.3% |
| Recurring financial charges | 65 | €84,643 | €69,156 | -€15,488 | -18.3% |
| Non-recurring financial charges | 66B | - | €7,640 | +€7,640 | |
| Profit (loss) for the period before taxes | 9903 | €10,955 | €18,444 | +€7,489 | +68.4% |
| Income taxes | 67/77 | €495 | €5,462 | +€4,967 | +1004.3% |
| Profit (loss) for the period | 9904 | €10,460 | €12,982 | +€2,522 | +24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,460 | €12,982 | +€2,522 | +24.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.