JM COMPANY: what changed
What changed
JM COMPANY
NACE 01.430, Raising of horses and other equines
filed annual accounts (NBB)
Net result for the year
-€62,368
2024 · €17,291-€79,658
Equity
€185,789
2024 · €254,066-€68,278
Cash
€278
2024 · €21,371-€21,093
Balance sheet total
€1.6m
2024 · €1.4m+€168,752
Largest movements
Assets
- Tangible fixed assets +€192,766
up €192,766 (+15.8%), from €1.2m to €1.4m
of which Land and buildings: +€213,933
- Cash -€21,093
down €21,093 (-98.7%), from €21,371 to €278
mainly Investment in fixed assets (net) (-€245,210) and Net result for the year (-€62,368)
Equity and liabilities
- Debts after one year +€88,089
up €88,089 (+9.7%), from €905,424 to €993,513
- Other debts +€79,600
up €79,600 (+159%), from €49,992 to €129,592
- Trade debts +€59,440
up €59,440 (+148%), from €40,135 to €99,575
- Profit (loss) carried forward -€57,411
new in 2025: -€57,411
Income statement
- Gross operating margin -€69,063
down €69,063 (-44.1%), from €156,653 to €87,590
- Financial charges +€15,066
up €15,066 (+65.0%), from €23,161 to €38,226
- Staff costs +€11,950
up €11,950 (+32.2%), from €37,107 to €49,058
- Depreciation -€9,322
down €9,322 (-14.4%), from €64,786 to €55,465
- Taxes -€8,463
down €8,463 (-95.3%), from €8,880 to €416
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€17,291
Gross operating margin
-€69,063
Staff costs
-€11,950
Depreciation
+€9,322
Write-downs
-€8,000
Other operating charges
-€1,403
Other operating items
+€9,399
Financial income
-€495
Financial charges
-€15,066
Taxes
+€8,463
Deferred taxes and other
-€865
Result 2025
-€62,368
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€139,355
Investment
-€245,210
Financing
+€84,762
Cash 2024
€21,371
From operations (derived)
+€139,355
Net result for the year
-€62,368
Depreciation
+€55,465
Stocks and contracts
+€8,000
Receivables within one year
-€10,370
Deferred charges and accrued income
+€2,270
Provisions
-€865
Trade debts
+€59,440
Tax, wage and social debts
+€8,183
Other debts
+€79,600
Investment (derived)
-€245,210
Investment in fixed assets (net)
-€245,210
Financing
+€84,762
Debts after one year
+€88,089
Current portion of long-term debt
+€2,583
Contributions, distributions and other
-€5,910
Cash 2025
€278
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,392,563 | €1,561,315 | +€168,752 | +12.1% |
| Fixed assets | 21/28 | €1,224,700 | €1,414,446 | +€189,746 | +15.5% |
| Intangible fixed assets | 21 | €5,137 | €2,116 | -€3,021 | -58.8% |
| Tangible fixed assets | 22/27 | €1,219,378 | €1,412,144 | +€192,766 | +15.8% |
| Land and buildings | 22 | €1,013,514 | €1,227,447 | +€213,933 | +21.1% |
| Plant, machinery and equipment | 23 | €205,863 | €184,697 | -€21,166 | -10.3% |
| Financial fixed assets | 28 | €186 | €186 | = | 0.0% |
| Current assets | 29/58 | €167,863 | €146,869 | -€20,994 | -12.5% |
| Stocks and contracts in progress | 3 | €8,000 | - | -€8,000 | |
| Stocks | 30/36 | €8,000 | - | -€8,000 | |
| Amounts receivable within one year | 40/41 | €131,703 | €142,073 | +€10,370 | +7.9% |
| Trade receivables | 40 | €1,210 | €19,702 | +€18,492 | +1,528% |
| Other amounts receivable | 41 | €130,493 | €122,371 | -€8,122 | -6.2% |
| Cash at bank and in hand | 54/58 | €21,371 | €278 | -€21,093 | -98.7% |
| Deferred charges and accrued income | 490/1 | €6,789 | €4,519 | -€2,270 | -33.4% |
| Total equity and liabilities | 10/49 | €1,392,563 | €1,561,315 | +€168,752 | +12.1% |
| Equity | 10/15 | €254,066 | €185,789 | -€68,278 | -26.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €235,474 | €224,608 | -€10,866 | -4.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €76,060 | €72,599 | -€3,461 | -4.6% |
| Distributable reserves | 133 | €157,555 | €150,150 | -€7,405 | -4.7% |
| Profit (loss) carried forward | 14 | - | -€57,411 | -€57,411 | |
| Provisions and deferred taxes | 16 | €19,015 | €18,150 | -€865 | -4.6% |
| Deferred taxes | 168 | €19,015 | €18,150 | -€865 | -4.6% |
| Amounts payable | 17/49 | €1,119,482 | €1,357,377 | +€237,895 | +21.3% |
| Amounts payable after more than one year | 17 | €905,424 | €993,513 | +€88,089 | +9.7% |
| Financial debts | 170/4 | €905,424 | €993,513 | +€88,089 | +9.7% |
| Amounts payable within one year | 42/48 | €214,058 | €363,863 | +€149,806 | +70.0% |
| Current portion of amounts payable after more than one year | 42 | €91,264 | €93,846 | +€2,583 | +2.8% |
| Trade debts | 44 | €40,135 | €99,575 | +€59,440 | +148% |
| Suppliers | 440/4 | €40,135 | €99,575 | +€59,440 | +148% |
| Taxes, remuneration and social security | 45 | €32,668 | €40,851 | +€8,183 | +25.0% |
| Taxes | 450/3 | €26,043 | €30,351 | +€4,308 | +16.5% |
| Remuneration and social security | 454/9 | €6,625 | €10,500 | +€3,875 | +58.5% |
| Other amounts payable | 47/48 | €49,992 | €129,592 | +€79,600 | +159% |
| Remuneration, social security and pensions | 62 | €37,107 | €49,058 | +€11,950 | +32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,786 | €55,465 | -€9,322 | -14.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,000 | +€8,000 | |
| Other operating charges | 640/8 | €3,395 | €4,798 | +€1,403 | +41.3% |
| Non-recurring operating charges | 66A | €9,399 | - | -€9,399 | |
| Gross operating margin | 9900 | €156,653 | €87,590 | -€69,063 | -44.1% |
| Operating profit (loss) | 9901 | €41,966 | -€29,730 | -€71,696 | |
| Financial income | 75/76B | €6,499 | €6,005 | -€495 | -7.6% |
| Recurring financial income | 75 | €6,499 | €6,005 | -€495 | -7.6% |
| Financial charges | 65/66B | €23,161 | €38,226 | +€15,066 | +65.0% |
| Recurring financial charges | 65 | €23,161 | €38,226 | +€15,066 | +65.0% |
| Profit (loss) for the period before taxes | 9903 | €25,305 | -€61,952 | -€87,256 | |
| Transfer from deferred taxes | 780 | €865 | - | -€865 | |
| Income taxes | 67/77 | €8,880 | €416 | -€8,463 | -95.3% |
| Profit (loss) for the period | 9904 | €17,291 | -€62,368 | -€79,658 | |
| Transfer from tax-exempt reserves | 789 | €3,461 | €4,326 | +€865 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,752 | -€58,041 | -€78,793 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.