JKM: 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.
JKM
Largest movements
- Tangible fixed assets +€297,431
up €297,431 (+81.9%), from €363,366 to €660,797
of which Land and buildings: +€307,668
- Cash +€17,687
up €17,687 (+120.8%), from €14,644 to €32,331
mainly Debts after one year (+€268,185) and Net result for the year (+€48,750)
- Debts after one year +€268,185
up €268,185 (+88.6%), from €302,759 to €570,943
of which Financial debts: +€274,185
- Reserves +€48,189
up €48,189 (+24.3%), from €198,622 to €246,811
- Gross operating margin +€13,699
up €13,699 (+14.5%), from €94,792 to €108,491
- Financial charges +€2,327
up €2,327 (+21.2%), from €10,985 to €13,312
- Taxes +€2,230
up €2,230 (+15.2%), from €14,677 to €16,906
- Other operating charges +€1,111
up €1,111 (+114.1%), from €974 to €2,085
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 | €575,682 | €889,648 | +€313,965 | +54.5% |
| Fixed assets | 21/28 | €542,366 | €840,137 | +€297,771 | +54.9% |
| Tangible fixed assets | 22/27 | €363,366 | €660,797 | +€297,431 | +81.9% |
| Land and buildings | 22 | €337,989 | €645,657 | +€307,668 | +91.0% |
| Plant, machinery and equipment | 23 | €223 | €5 | -€218 | -97.6% |
| Furniture and vehicles | 24 | €24,787 | €14,937 | -€9,850 | -39.7% |
| Other tangible fixed assets | 26 | €367 | €198 | -€169 | -46.0% |
| Financial fixed assets | 28 | €179,000 | €179,340 | +€340 | +0.2% |
| Current assets | 29/58 | €33,316 | €49,511 | +€16,195 | +48.6% |
| Amounts receivable within one year | 40/41 | €17,492 | €16,297 | -€1,195 | -6.8% |
| Trade receivables | 40 | €14,070 | €14,654 | +€584 | +4.2% |
| Other amounts receivable | 41 | €3,422 | €1,643 | -€1,779 | -52.0% |
| Cash at bank and in hand | 54/58 | €14,644 | €32,331 | +€17,687 | +120.8% |
| Deferred charges and accrued income | 490/1 | €1,180 | €883 | -€297 | -25.2% |
| Total equity and liabilities | 10/49 | €575,682 | €889,648 | +€313,965 | +54.5% |
| Equity | 10/15 | €218,622 | €266,811 | +€48,189 | +22.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €198,622 | €246,811 | +€48,189 | +24.3% |
| Distributable reserves | 133 | €198,622 | €246,811 | +€48,189 | +24.3% |
| Amounts payable | 17/49 | €357,060 | €622,836 | +€265,776 | +74.4% |
| Amounts payable after more than one year | 17 | €302,759 | €570,943 | +€268,185 | +88.6% |
| Financial debts | 170/4 | €285,409 | €559,594 | +€274,185 | +96.1% |
| Other amounts payable | 178/9 | €17,350 | €11,350 | -€6,000 | -34.6% |
| Amounts payable within one year | 42/48 | €52,547 | €50,315 | -€2,232 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €26,975 | €24,028 | -€2,948 | -10.9% |
| Financial debts | 43 | €8,822 | €8,821 | -€1 | 0.0% |
| Credit institutions | 430/8 | €8,822 | €8,821 | -€1 | 0.0% |
| Trade debts | 44 | €1,509 | €764 | -€746 | -49.4% |
| Suppliers | 440/4 | €1,509 | €764 | -€746 | -49.4% |
| Taxes, remuneration and social security | 45 | €8,407 | €10,236 | +€1,829 | +21.8% |
| Taxes | 450/3 | €8,407 | €10,236 | +€1,829 | +21.8% |
| Other amounts payable | 47/48 | €6,833 | €6,466 | -€367 | -5.4% |
| Accrued charges and deferred income | 492/3 | €1,755 | €1,578 | -€177 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,753 | €29,081 | -€673 | -2.3% |
| Other operating charges | 640/8 | €974 | €2,085 | +€1,111 | +114.1% |
| Gross operating margin | 9900 | €94,792 | €108,491 | +€13,699 | +14.5% |
| Operating profit (loss) | 9901 | €64,065 | €77,325 | +€13,260 | +20.7% |
| Financial income | 75/76B | €2,382 | €1,643 | -€739 | -31.0% |
| Recurring financial income | 75 | €2,382 | €1,643 | -€739 | -31.0% |
| Financial charges | 65/66B | €10,985 | €13,312 | +€2,327 | +21.2% |
| Recurring financial charges | 65 | €10,985 | €13,312 | +€2,327 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €55,462 | €65,656 | +€10,194 | +18.4% |
| Income taxes | 67/77 | €14,677 | €16,906 | +€2,230 | +15.2% |
| Profit (loss) for the period | 9904 | €40,785 | €48,750 | +€7,965 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,785 | €48,750 | +€7,965 | +19.5% |
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 12 October 2026 via checked.be.