JBMa: 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.
JBMa
Largest movements
- Financial fixed assets +€76,047
up €76,047 (+27.5%), from €276,188 to €352,235
- Current investments -€65,000
down €65,000 (-100%), from €65,000 to €0
- Tangible fixed assets -€50,097
down €50,097 (-5.2%), from €970,368 to €920,271
of which Land and buildings: -€34,322
- Cash +€28,215
up €28,215 (+38,757%), from €73 to €28,288
mainly Net result for the year (+€74,210) and Current investments (+€65,000)
- Reserves +€74,210
up €74,210 (+20.1%), from €369,211 to €443,421
of which Distributable reserves: +€74,210
- Debts after one year -€72,622
down €72,622 (-10.8%), from €670,511 to €597,889
- Financial income -€111,095
down €111,095 (-89.2%), from €124,553 to €13,459
- Taxes -€39,639
down €39,639 (-53.4%), from €74,184 to €34,546
- Gross operating margin -€5,902
down €5,902 (-2.7%), from €220,567 to €214,665
- Financial charges -€3,277
down €3,277 (-12.9%), from €25,486 to €22,208
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 | €1,318,994 | €1,312,701 | -€6,293 | -0.5% |
| Fixed assets | 21/28 | €1,246,555 | €1,272,506 | +€25,951 | +2.1% |
| Tangible fixed assets | 22/27 | €970,368 | €920,271 | -€50,097 | -5.2% |
| Land and buildings | 22 | €909,489 | €875,167 | -€34,322 | -3.8% |
| Plant, machinery and equipment | 23 | €3,772 | €2,829 | -€943 | -25.0% |
| Furniture and vehicles | 24 | €57,107 | €42,275 | -€14,832 | -26.0% |
| Financial fixed assets | 28 | €276,188 | €352,235 | +€76,047 | +27.5% |
| Current assets | 29/58 | €72,438 | €40,195 | -€32,243 | -44.5% |
| Amounts receivable within one year | 40/41 | - | €10,990 | +€10,990 | |
| Other amounts receivable | 41 | - | €10,990 | +€10,990 | |
| Current investments | 50/53 | €65,000 | €0 | -€65,000 | -100% |
| Cash at bank and in hand | 54/58 | €73 | €28,288 | +€28,215 | +38,757% |
| Deferred charges and accrued income | 490/1 | €7,365 | €917 | -€6,448 | -87.5% |
| Total equity and liabilities | 10/49 | €1,318,994 | €1,312,701 | -€6,293 | -0.5% |
| Equity | 10/15 | €417,434 | €491,644 | +€74,210 | +17.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €369,211 | €443,421 | +€74,210 | +20.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €367,351 | €441,561 | +€74,210 | +20.2% |
| Profit (loss) carried forward | 14 | €42,023 | €42,023 | = | 0.0% |
| Amounts payable | 17/49 | €901,560 | €821,057 | -€80,502 | -8.9% |
| Amounts payable after more than one year | 17 | €670,511 | €597,889 | -€72,622 | -10.8% |
| Financial debts | 170/4 | €670,511 | €597,889 | -€72,622 | -10.8% |
| Amounts payable within one year | 42/48 | €231,049 | €221,815 | -€9,234 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €74,394 | €72,622 | -€1,772 | -2.4% |
| Financial debts | 43 | €12,336 | €7,034 | -€5,303 | -43.0% |
| Credit institutions | 430/8 | €12,336 | €7,034 | -€5,303 | -43.0% |
| Trade debts | 44 | €6,226 | €10,710 | +€4,483 | +72.0% |
| Suppliers | 440/4 | €6,226 | €10,710 | +€4,483 | +72.0% |
| Taxes, remuneration and social security | 45 | €133,849 | €131,450 | -€2,400 | -1.8% |
| Taxes | 450/3 | €130,314 | €122,899 | -€7,415 | -5.7% |
| Remuneration and social security | 454/9 | €3,536 | €8,551 | +€5,015 | +142% |
| Other amounts payable | 47/48 | €4,243 | €0 | -€4,243 | -100% |
| Accrued charges and deferred income | 492/3 | - | €1,354 | +€1,354 | |
| Remuneration, social security and pensions | 62 | €40,430 | €42,176 | +€1,746 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,083 | €50,097 | +€13 | 0.0% |
| Other operating charges | 640/8 | €4,972 | €4,887 | -€84 | -1.7% |
| Gross operating margin | 9900 | €220,567 | €214,665 | -€5,902 | -2.7% |
| Operating profit (loss) | 9901 | €125,082 | €117,505 | -€7,577 | -6.1% |
| Financial income | 75/76B | €124,553 | €13,459 | -€111,095 | -89.2% |
| Recurring financial income | 75 | €124,553 | €13,459 | -€111,095 | -89.2% |
| Financial charges | 65/66B | €25,486 | €22,208 | -€3,277 | -12.9% |
| Recurring financial charges | 65 | €25,486 | €22,208 | -€3,277 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €224,149 | €108,755 | -€115,394 | -51.5% |
| Income taxes | 67/77 | €74,184 | €34,546 | -€39,639 | -53.4% |
| Profit (loss) for the period | 9904 | €149,965 | €74,210 | -€75,755 | -50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €149,965 | €74,210 | -€75,755 | -50.5% |
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 16 October 2026 via checked.be.