JCMGS: 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.
JCMGS
Largest movements
- Tangible fixed assets +€86,107
up €86,107 (+4.6%), from €1.9m to €2.0m
- Cash +€23,206
up €23,206 (+54.0%), from €42,970 to €66,176
mainly Debts after one year (+€89,167) and Accrued charges and deferred income (+€20,550)
- Debts after one year +€89,167
up €89,167 (+13.0%), from €685,000 to €774,167
- Accrued charges and deferred income +€20,550
up €20,550 (+100.0%), from €20,550 to €41,100
- Other operating charges +€13,361
up €13,361 (+340.3%), from €3,927 to €17,288
- Depreciation -€3,926
down €3,926 (-19.1%), from €20,532 to €16,606
- Gross operating margin +€1,177
up €1,177 (+2.5%), from €46,714 to €47,892
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 | €1,939,106 | €2,044,719 | +€105,613 | +5.4% |
| Fixed assets | 21/28 | €1,892,201 | €1,978,308 | +€86,107 | +4.6% |
| Tangible fixed assets | 22/27 | €1,892,201 | €1,978,308 | +€86,107 | +4.6% |
| Land and buildings | 22 | €1,892,201 | €1,978,308 | +€86,107 | +4.6% |
| Current assets | 29/58 | €46,905 | €66,411 | +€19,506 | +41.6% |
| Amounts receivable within one year | 40/41 | €236 | €236 | = | 0.0% |
| Other amounts receivable | 41 | €236 | €236 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €42,970 | €66,176 | +€23,206 | +54.0% |
| Deferred charges and accrued income | 490/1 | €3,700 | €0 | -€3,700 | -100.0% |
| Total equity and liabilities | 10/49 | €1,939,106 | €2,044,719 | +€105,613 | +5.4% |
| Equity | 10/15 | €1,224,593 | €1,217,241 | -€7,352 | -0.6% |
| Contributions | 10/11 | €1,226,500 | €1,226,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,907 | -€9,259 | -€7,352 | -385.5% |
| Amounts payable | 17/49 | €714,513 | €827,478 | +€112,965 | +15.8% |
| Amounts payable after more than one year | 17 | €685,000 | €774,167 | +€89,167 | +13.0% |
| Financial debts | 170/4 | €685,000 | €774,167 | +€89,167 | +13.0% |
| Amounts payable within one year | 42/48 | €8,963 | €12,212 | +€3,248 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €6,769 | €10,000 | +€3,231 | +47.7% |
| Trade debts | 44 | €448 | €465 | +€17 | +3.8% |
| Suppliers | 440/4 | €448 | €465 | +€17 | +3.8% |
| Other amounts payable | 47/48 | €1,747 | €1,747 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €20,550 | €41,100 | +€20,550 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,532 | €16,606 | -€3,926 | -19.1% |
| Other operating charges | 640/8 | €3,927 | €17,288 | +€13,361 | +340.3% |
| Gross operating margin | 9900 | €46,714 | €47,892 | +€1,177 | +2.5% |
| Operating profit (loss) | 9901 | €22,256 | €13,997 | -€8,258 | -37.1% |
| Financial charges | 65/66B | €21,050 | €21,350 | +€300 | +1.4% |
| Recurring financial charges | 65 | €21,050 | €21,350 | +€300 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €1,205 | -€7,352 | -€8,558 | |
| Profit (loss) for the period | 9904 | €1,205 | -€7,352 | -€8,558 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,205 | -€7,352 | -€8,558 |
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 12 October 2026 via checked.be.