JELMAR: 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.
JELMAR
Largest movements
- Receivables within one year +€291,877
up €291,877 (+30.8%), from €946,639 to €1.2m
- Reserves +€322,500
up €322,500 (+11.4%), from €2.8m to €3.1m
- Debts after one year -€120,000
down €120,000 (-32.0%), from €375,000 to €255,000
- Current portion of long-term debt +€60,000
new in 2025: €60,000
- Financial income -€29,233
down €29,233 (-9.8%), from €298,276 to €269,043
- Financial charges +€11,625
up €11,625 (+203.1%), from €5,722 to €17,347
- Gross operating margin +€10,595
up €10,595 (+9.0%), from €117,553 to €128,148
- Other operating charges -€3,450
down €3,450 (-93.4%), from €3,694 to €244
- Taxes -€2,690
down €2,690 (-4.7%), from €57,565 to €54,874
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 | €3,316,550 | €3,598,132 | +€281,582 | +8.5% |
| Fixed assets | 21/28 | €2,346,878 | €2,344,653 | -€2,225 | -0.1% |
| Tangible fixed assets | 22/27 | €6,675 | €4,450 | -€2,225 | -33.3% |
| Plant, machinery and equipment | 23 | €6,675 | €4,450 | -€2,225 | -33.3% |
| Financial fixed assets | 28 | €2,340,203 | €2,340,203 | = | 0.0% |
| Current assets | 29/58 | €969,672 | €1,253,479 | +€283,807 | +29.3% |
| Amounts receivable within one year | 40/41 | €946,639 | €1,238,516 | +€291,877 | +30.8% |
| Other amounts receivable | 41 | €946,639 | €1,238,516 | +€291,877 | +30.8% |
| Cash at bank and in hand | 54/58 | €23,033 | €14,580 | -€8,452 | -36.7% |
| Deferred charges and accrued income | 490/1 | - | €382 | +€382 | |
| Total equity and liabilities | 10/49 | €3,316,550 | €3,598,132 | +€281,582 | +8.5% |
| Equity | 10/15 | €2,844,972 | €3,167,472 | +€322,500 | +11.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,826,372 | €3,148,872 | +€322,500 | +11.4% |
| Distributable reserves | 133 | €2,826,372 | €3,148,872 | +€322,500 | +11.4% |
| Amounts payable | 17/49 | €471,578 | €430,659 | -€40,919 | -8.7% |
| Amounts payable after more than one year | 17 | €375,000 | €255,000 | -€120,000 | -32.0% |
| Financial debts | 170/4 | €375,000 | €255,000 | -€120,000 | -32.0% |
| Amounts payable within one year | 42/48 | €91,049 | €158,582 | +€67,533 | +74.2% |
| Current portion of amounts payable after more than one year | 42 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €1,345 | €865 | -€480 | -35.7% |
| Suppliers | 440/4 | €1,345 | €865 | -€480 | -35.7% |
| Taxes, remuneration and social security | 45 | €48,143 | €52,286 | +€4,143 | +8.6% |
| Taxes | 450/3 | €48,143 | €52,286 | +€4,143 | +8.6% |
| Other amounts payable | 47/48 | €41,560 | €45,431 | +€3,871 | +9.3% |
| Accrued charges and deferred income | 492/3 | €5,530 | €17,078 | +€11,548 | +208.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,225 | €2,225 | = | 0.0% |
| Other operating charges | 640/8 | €3,694 | €244 | -€3,450 | -93.4% |
| Gross operating margin | 9900 | €117,553 | €128,148 | +€10,595 | +9.0% |
| Operating profit (loss) | 9901 | €111,634 | €125,679 | +€14,045 | +12.6% |
| Financial income | 75/76B | €298,276 | €269,043 | -€29,233 | -9.8% |
| Recurring financial income | 75 | €298,276 | €269,043 | -€29,233 | -9.8% |
| Financial charges | 65/66B | €5,722 | €17,347 | +€11,625 | +203.1% |
| Recurring financial charges | 65 | €5,722 | €17,347 | +€11,625 | +203.1% |
| Profit (loss) for the period before taxes | 9903 | €404,187 | €377,375 | -€26,813 | -6.6% |
| Income taxes | 67/77 | €57,565 | €54,874 | -€2,690 | -4.7% |
| Profit (loss) for the period | 9904 | €346,623 | €322,500 | -€24,122 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €346,623 | €322,500 | -€24,122 | -7.0% |
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 11 October 2026 via checked.be.