JEMAD: 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.
JEMAD
Largest movements
- Receivables within one year -€1,744
down €1,744 (-17.0%), from €10,248 to €8,504
- Tangible fixed assets -€799
down €799 (-30.0%), from €2,663 to €1,864
- Deferred charges and accrued income +€437
up €437 (+53.0%), from €824 to €1,261
- Current portion of long-term debt -€1,500
down €1,500 (-75.0%), from €2,000 to €500
- Trade debts -€1,390
down €1,390 (-21.4%), from €6,504 to €5,114
- Profit (loss) carried forward +€1,387
up €1,387 (+52.1%), from -€2,660 to -€1,273
- Short-term financial debts -€611
down €611 (-58.2%), from €1,050 to €439
- Gross operating margin +€4,687
up €4,687, from -€1,421 to €3,266
- Financial charges -€654
down €654 (-48.9%), from €1,339 to €685
- Depreciation -€471
down €471 (-37.1%), from €1,270 to €799
- Taxes -€181
no longer reported in 2025 (was €181)
- Financial income +€61
up €61 (+19.9%), from €309 to €370
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,736 | €11,629 | -€2,107 | -15.3% |
| Fixed assets | 21/28 | €2,663 | €1,864 | -€799 | -30.0% |
| Tangible fixed assets | 22/27 | €2,663 | €1,864 | -€799 | -30.0% |
| Other tangible fixed assets | 26 | €2,663 | €1,864 | -€799 | -30.0% |
| Current assets | 29/58 | €11,073 | €9,765 | -€1,307 | -11.8% |
| Amounts receivable within one year | 40/41 | €10,248 | €8,504 | -€1,744 | -17.0% |
| Other amounts receivable | 41 | €10,248 | €8,504 | -€1,744 | -17.0% |
| Deferred charges and accrued income | 490/1 | €824 | €1,261 | +€437 | +53.0% |
| Total equity and liabilities | 10/49 | €13,736 | €11,629 | -€2,107 | -15.3% |
| Equity | 10/15 | €4,160 | €5,547 | +€1,387 | +33.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €620 | €620 | = | 0.0% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,660 | -€1,273 | +€1,387 | +52.1% |
| Amounts payable | 17/49 | €9,576 | €6,082 | -€3,494 | -36.5% |
| Amounts payable within one year | 42/48 | €9,555 | €6,054 | -€3,501 | -36.6% |
| Current portion of amounts payable after more than one year | 42 | €2,000 | €500 | -€1,500 | -75.0% |
| Financial debts | 43 | €1,050 | €439 | -€611 | -58.2% |
| Credit institutions | 430/8 | €1,050 | €439 | -€611 | -58.2% |
| Trade debts | 44 | €6,504 | €5,114 | -€1,390 | -21.4% |
| Suppliers | 440/4 | €6,504 | €5,114 | -€1,390 | -21.4% |
| Accrued charges and deferred income | 492/3 | €21 | €28 | +€7 | +31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,270 | €799 | -€471 | -37.1% |
| Other operating charges | 640/8 | €412 | €387 | -€25 | -6.0% |
| Non-recurring operating charges | 66A | - | €378 | +€378 | |
| Gross operating margin | 9900 | -€1,421 | €3,266 | +€4,687 | |
| Operating profit (loss) | 9901 | -€3,104 | €1,701 | +€4,805 | |
| Financial income | 75/76B | €309 | €370 | +€61 | +19.9% |
| Recurring financial income | 75 | €309 | €370 | +€61 | +19.9% |
| Financial charges | 65/66B | €1,339 | €685 | -€654 | -48.9% |
| Recurring financial charges | 65 | €1,339 | €685 | -€654 | -48.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,134 | €1,387 | +€5,521 | |
| Income taxes | 67/77 | €181 | - | -€181 | |
| Profit (loss) for the period | 9904 | -€4,315 | €1,387 | +€5,702 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,315 | €1,387 | +€5,702 |
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 3 October 2026 via checked.be.