JLM: 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.
JLM
Largest movements
- Tangible fixed assets -€105,098
down €105,098 (-3.9%), from €2.7m to €2.6m
of which Land and buildings: -€108,165
- Cash -€35,332
down €35,332 (-30.0%), from €117,784 to €82,451
mainly Other debts (-€83,573) and Debts after one year (-€57,881)
- Other debts -€83,573
down €83,573 (-7.5%), from €1.1m to €1.0m
- Debts after one year -€57,881
down €57,881 (-16.8%), from €344,535 to €286,654
- Financial charges -€27,154
down €27,154 (-64.0%), from €42,439 to €15,285
- Gross operating margin -€15,796
down €15,796 (-9.1%), from €172,985 to €157,189
- Depreciation +€11,383
up €11,383 (+10.0%), from €114,012 to €125,395
- Taxes -€1,841
down €1,841 (-29.5%), from €6,241 to €4,400
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.
Derived cash bridge
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 | €2,886,517 | €2,769,306 | -€117,210 | -4.1% |
| Fixed assets | 21/28 | €2,695,791 | €2,590,693 | -€105,098 | -3.9% |
| Tangible fixed assets | 22/27 | €2,695,791 | €2,590,693 | -€105,098 | -3.9% |
| Land and buildings | 22 | €2,675,603 | €2,567,439 | -€108,165 | -4.0% |
| Plant, machinery and equipment | 23 | - | €3,440 | +€3,440 | |
| Furniture and vehicles | 24 | €20,188 | €19,814 | -€374 | -1.9% |
| Current assets | 29/58 | €190,726 | €178,614 | -€12,112 | -6.4% |
| Amounts receivable within one year | 40/41 | €67,234 | €90,177 | +€22,943 | +34.1% |
| Trade receivables | 40 | €67,234 | €89,077 | +€21,843 | +32.5% |
| Other amounts receivable | 41 | - | €1,100 | +€1,100 | |
| Cash at bank and in hand | 54/58 | €117,784 | €82,451 | -€35,332 | -30.0% |
| Deferred charges and accrued income | 490/1 | €5,708 | €5,985 | +€277 | +4.9% |
| Total equity and liabilities | 10/49 | €2,886,517 | €2,769,306 | -€117,210 | -4.1% |
| Equity | 10/15 | €1,091,568 | €1,094,450 | +€2,882 | +0.3% |
| Contributions | 10/11 | €707,000 | €707,000 | = | 0.0% |
| Capital | 10 | €707,000 | €707,000 | = | 0.0% |
| Issued capital | 100 | €707,000 | €707,000 | = | 0.0% |
| Reserves | 13 | €16,850 | €16,850 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,850 | €16,850 | = | 0.0% |
| Legal reserve | 130 | €16,850 | €16,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | €367,718 | €370,600 | +€2,882 | +0.8% |
| Amounts payable | 17/49 | €1,794,948 | €1,674,856 | -€120,093 | -6.7% |
| Amounts payable after more than one year | 17 | €344,535 | €286,654 | -€57,881 | -16.8% |
| Financial debts | 170/4 | €344,535 | €286,654 | -€57,881 | -16.8% |
| Amounts payable within one year | 42/48 | €1,191,622 | €1,129,410 | -€62,212 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €56,895 | €57,881 | +€986 | +1.7% |
| Trade debts | 44 | €4,477 | €17,992 | +€13,515 | +302% |
| Suppliers | 440/4 | €4,477 | €17,992 | +€13,515 | +302% |
| Taxes, remuneration and social security | 45 | €20,387 | €27,246 | +€6,860 | +33.6% |
| Taxes | 450/3 | €20,387 | €27,246 | +€6,860 | +33.6% |
| Other amounts payable | 47/48 | €1,109,863 | €1,026,290 | -€83,573 | -7.5% |
| Accrued charges and deferred income | 492/3 | €258,792 | €258,792 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,012 | €125,395 | +€11,383 | +10.0% |
| Other operating charges | 640/8 | €10,356 | €9,426 | -€930 | -9.0% |
| Gross operating margin | 9900 | €172,985 | €157,189 | -€15,796 | -9.1% |
| Operating profit (loss) | 9901 | €48,618 | €22,368 | -€26,249 | -54.0% |
| Financial income | 75/76B | €395 | €199 | -€196 | -49.7% |
| Recurring financial income | 75 | €395 | €199 | -€196 | -49.7% |
| Financial charges | 65/66B | €42,439 | €15,285 | -€27,154 | -64.0% |
| Recurring financial charges | 65 | €42,439 | €15,285 | -€27,154 | -64.0% |
| Profit (loss) for the period before taxes | 9903 | €6,574 | €7,283 | +€709 | +10.8% |
| Income taxes | 67/77 | €6,241 | €4,400 | -€1,841 | -29.5% |
| Profit (loss) for the period | 9904 | €333 | €2,882 | +€2,550 | +767% |
| Profit (loss) for the period to be appropriated | 9905 | €333 | €2,882 | +€2,550 | +767% |
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 27 October 2026 via checked.be.