JCMA: 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.
JCMA
Largest movements
- Cash +€41,650
up €41,650 (+48.8%), from €85,288 to €126,939
mainly Net result for the year (+€90,599) and Depreciation (+€13,823)
- Receivables within one year +€32,564
up €32,564 (+68.6%), from €47,436 to €80,000
- Tangible fixed assets -€8,624
down €8,624 (-16.3%), from €52,782 to €44,157
of which Furniture and vehicles: -€12,383
- Current investments +€4,082
new in 2025: €4,082
- Deferred charges and accrued income -€3,563
down €3,563 (-14.7%), from €24,306 to €20,742
- Reserves +€90,599
up €90,599 (+65.6%), from €138,068 to €228,666
- Debts after one year -€12,240
down €12,240 (-30.2%), from €40,524 to €28,284
- Tax, wage and social debts -€10,615
down €10,615 (-76.3%), from €13,920 to €3,305
- Gross operating margin -€85,584
down €85,584 (-39.8%), from €215,159 to €129,575
- Taxes -€30,691
down €30,691 (-54.8%), from €55,996 to €25,305
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 | €209,812 | €275,921 | +€66,109 | +31.5% |
| Fixed assets | 21/28 | €52,782 | €44,157 | -€8,624 | -16.3% |
| Tangible fixed assets | 22/27 | €52,782 | €44,157 | -€8,624 | -16.3% |
| Plant, machinery and equipment | 23 | €866 | €4,624 | +€3,759 | +434.2% |
| Furniture and vehicles | 24 | €51,916 | €39,533 | -€12,383 | -23.9% |
| Current assets | 29/58 | €157,030 | €231,763 | +€74,733 | +47.6% |
| Amounts receivable within one year | 40/41 | €47,436 | €80,000 | +€32,564 | +68.6% |
| Other amounts receivable | 41 | €47,436 | €80,000 | +€32,564 | +68.6% |
| Current investments | 50/53 | - | €4,082 | +€4,082 | |
| Cash at bank and in hand | 54/58 | €85,288 | €126,939 | +€41,650 | +48.8% |
| Deferred charges and accrued income | 490/1 | €24,306 | €20,742 | -€3,563 | -14.7% |
| Total equity and liabilities | 10/49 | €209,812 | €275,921 | +€66,109 | +31.5% |
| Equity | 10/15 | €141,068 | €231,666 | +€90,599 | +64.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €138,068 | €228,666 | +€90,599 | +65.6% |
| Distributable reserves | 133 | €138,068 | €228,666 | +€90,599 | +65.6% |
| Amounts payable | 17/49 | €68,744 | €44,254 | -€24,490 | -35.6% |
| Amounts payable after more than one year | 17 | €40,524 | €28,284 | -€12,240 | -30.2% |
| Financial debts | 170/4 | €40,524 | €28,284 | -€12,240 | -30.2% |
| Amounts payable within one year | 42/48 | €28,220 | €15,970 | -€12,250 | -43.4% |
| Current portion of amounts payable after more than one year | 42 | €11,754 | €12,240 | +€486 | +4.1% |
| Trade debts | 44 | €2,546 | €425 | -€2,121 | -83.3% |
| Suppliers | 440/4 | €2,546 | €425 | -€2,121 | -83.3% |
| Taxes, remuneration and social security | 45 | €13,920 | €3,305 | -€10,615 | -76.3% |
| Taxes | 450/3 | €13,920 | €3,305 | -€10,615 | -76.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,141 | €13,823 | -€1,319 | -8.7% |
| Gross operating margin | 9900 | €215,159 | €129,575 | -€85,584 | -39.8% |
| Operating profit (loss) | 9901 | €200,017 | €115,753 | -€84,265 | -42.1% |
| Financial income | 75/76B | €1,354 | €3,134 | +€1,780 | +131.5% |
| Recurring financial income | 75 | €1,354 | €3,134 | +€1,780 | +131.5% |
| Financial charges | 65/66B | €2,226 | €2,984 | +€757 | +34.0% |
| Recurring financial charges | 65 | €2,226 | €2,984 | +€757 | +34.0% |
| Profit (loss) for the period before taxes | 9903 | €199,145 | €115,904 | -€83,241 | -41.8% |
| Income taxes | 67/77 | €55,996 | €25,305 | -€30,691 | -54.8% |
| Profit (loss) for the period | 9904 | €143,149 | €90,599 | -€52,551 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €143,149 | €90,599 | -€52,551 | -36.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.