JM CONSTRUCT: 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.
What changed
JM CONSTRUCT
NACE 25.110, Manufacture of metal structures and parts of structures
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€6,198
2024 · -€34,436+€28,238
Equity
€3.9m
2024 · €3.9m-€6,198
Cash
€106,752
2024 · €84,756+€21,995
Balance sheet total
€11.8m
2024 · €11.5m+€284,384
Largest movements
Assets
- Receivables within one year +€557,841
up €557,841 (+31.2%), from €1.8m to €2.3m
of which Trade receivables: +€488,901
- Tangible fixed assets -€508,868
down €508,868 (-6.0%), from €8.4m to €7.9m
of which Leasing and similar rights: -€329,247
- Stocks and contracts +€147,687
up €147,687 (+12.6%), from €1.2m to €1.3m
of which Stocks: +€130,873
Equity and liabilities
- Current portion of long-term debt -€733,922
down €733,922 (-56.7%), from €1.3m to €560,933
- Trade debts +€682,037
up €682,037 (+130.5%), from €522,719 to €1.2m
- Other debts +€458,092
up €458,092 (+223.3%), from €205,138 to €663,230
Income statement
- Turnover -€982,912
down €982,912 (-13.0%), from €7.6m to €6.6m
- Goods and materials -€650,479
down €650,479 (-17.4%), from €3.7m to €3.1m
of which Purchases: -€405,464
- Staff costs -€356,446
down €356,446 (-16.9%), from €2.1m to €1.8m
- Depreciation -€280,532
down €280,532 (-32.0%), from €875,964 to €595,433
- Services and other goods -€221,661
down €221,661 (-17.4%), from €1.3m to €1.1m
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.
Result 2024
-€34,436
Turnover
-€982,912
Other operating income
-€86,857
Goods and materials
+€650,479
Services and other goods
+€221,661
Staff costs
+€356,446
Depreciation
+€280,532
Provisions
+€20,076
Other operating charges
-€47,878
Other operating items
-€343,833
Financial income
+€2,263
Financial charges
+€48,829
Taxes
-€90,566
Result 2025
-€6,198
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.
From operations
+€771,879
Investment
-€77,808
Financing
-€672,076
Cash 2024
€84,756
From operations (derived)
+€771,879
Net result for the year
-€6,198
Depreciation
+€595,433
Stocks and contracts
-€147,687
Receivables within one year
-€557,841
Deferred charges and accrued income
-€74,485
Provisions
-€2,965
Trade debts
+€682,037
Tax, wage and social debts
-€104,017
Other debts
+€458,092
Accrued charges and deferred income
-€70,490
Investment (derived)
-€77,808
Investment in fixed assets (net)
-€77,808
Financing
-€672,076
Debts after one year
+€61,846
Current portion of long-term debt
-€733,922
Cash 2025
€106,752
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,537,522 | €11,821,906 | +€284,384 | +2.5% |
| Fixed assets | 21/28 | €8,453,675 | €7,936,050 | -€517,625 | -6.1% |
| Intangible fixed assets | 21 | €20,095 | €11,338 | -€8,757 | -43.6% |
| Tangible fixed assets | 22/27 | €8,433,580 | €7,924,712 | -€508,868 | -6.0% |
| Land and buildings | 22 | €136,127 | €102,025 | -€34,102 | -25.1% |
| Plant, machinery and equipment | 23 | €553,233 | €467,056 | -€86,176 | -15.6% |
| Furniture and vehicles | 24 | €152,833 | €93,490 | -€59,343 | -38.8% |
| Leasing and similar rights | 25 | €7,591,388 | €7,262,140 | -€329,247 | -4.3% |
| Current assets | 29/58 | €3,083,847 | €3,885,856 | +€802,009 | +26.0% |
| Stocks and contracts in progress | 3 | €1,173,443 | €1,321,130 | +€147,687 | +12.6% |
| Stocks | 30/36 | €304,311 | €435,184 | +€130,873 | +43.0% |
| Goods purchased for resale | 34 | €304,311 | €435,184 | +€130,873 | +43.0% |
| Contracts in progress | 37 | €869,132 | €885,946 | +€16,814 | +1.9% |
| Amounts receivable within one year | 40/41 | €1,789,140 | €2,346,981 | +€557,841 | +31.2% |
| Trade receivables | 40 | €1,540,626 | €2,029,527 | +€488,901 | +31.7% |
| Other amounts receivable | 41 | €248,514 | €317,454 | +€68,940 | +27.7% |
| Cash at bank and in hand | 54/58 | €84,756 | €106,752 | +€21,995 | +26.0% |
| Deferred charges and accrued income | 490/1 | €36,507 | €110,993 | +€74,485 | +204.0% |
| Total equity and liabilities | 10/49 | €11,537,522 | €11,821,906 | +€284,384 | +2.5% |
| Equity | 10/15 | €3,875,233 | €3,869,035 | -€6,198 | -0.2% |
| Contributions | 10/11 | €323,994 | €323,994 | = | 0.0% |
| Contributions outside capital | 11 | €323,994 | €323,994 | = | 0.0% |
| Other | 1109/19 | €323,994 | €323,994 | = | 0.0% |
| Revaluation surpluses | 12 | €2,036,500 | €2,036,500 | = | 0.0% |
| Reserves | 13 | €1,540,279 | €1,508,541 | -€31,738 | -2.1% |
| Non-distributable reserves | 130/1 | €25,188 | €25,188 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,188 | €25,188 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,686 | €17,791 | -€8,895 | -33.3% |
| Distributable reserves | 133 | €1,488,406 | €1,465,562 | -€22,843 | -1.5% |
| Profit (loss) carried forward | 14 | -€25,541 | - | +€25,541 | |
| Provisions and deferred taxes | 16 | €8,895 | €5,930 | -€2,965 | -33.3% |
| Deferred taxes | 168 | €8,895 | €5,930 | -€2,965 | -33.3% |
| Amounts payable | 17/49 | €7,653,394 | €7,946,941 | +€293,546 | +3.8% |
| Amounts payable after more than one year | 17 | €5,114,027 | €5,175,873 | +€61,846 | +1.2% |
| Financial debts | 170/4 | €5,114,027 | €5,175,873 | +€61,846 | +1.2% |
| Leasing and similar obligations | 172 | €1,814,968 | €1,535,490 | -€279,478 | -15.4% |
| Credit institutions | 173 | €3,299,059 | €3,640,384 | +€341,324 | +10.3% |
| Amounts payable within one year | 42/48 | €2,450,622 | €2,752,812 | +€302,190 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €1,294,855 | €560,933 | -€733,922 | -56.7% |
| Trade debts | 44 | €522,719 | €1,204,756 | +€682,037 | +130.5% |
| Suppliers | 440/4 | €522,719 | €1,204,756 | +€682,037 | +130.5% |
| Taxes, remuneration and social security | 45 | €427,910 | €323,893 | -€104,017 | -24.3% |
| Taxes | 450/3 | €129,742 | €108,537 | -€21,206 | -16.3% |
| Remuneration and social security | 454/9 | €298,168 | €215,356 | -€82,811 | -27.8% |
| Other amounts payable | 47/48 | €205,138 | €663,230 | +€458,092 | +223.3% |
| Accrued charges and deferred income | 492/3 | €88,745 | €18,256 | -€70,490 | -79.4% |
| Operating income | 70/76A | €8,332,667 | €6,914,257 | -€1.4m | -17.0% |
| Turnover | 70 | €7,574,682 | €6,591,770 | -€982,912 | -13.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€359,659 | €16,814 | +€376,473 | |
| Own construction capitalised | 72 | €231,283 | - | -€231,283 | |
| Other operating income | 74 | €392,530 | €305,673 | -€86,857 | -22.1% |
| Non-recurring operating income | 76A | €493,832 | - | -€493,832 | |
| Operating charges | 60/66A | €8,083,313 | €6,597,189 | -€1.5m | -18.4% |
| Goods for resale, raw materials and consumables | 60 | €3,742,679 | €3,092,199 | -€650,479 | -17.4% |
| Purchases | 600/8 | €3,628,537 | €3,223,072 | -€405,464 | -11.2% |
| Change in stocks: decrease (increase) | 609 | €114,142 | -€130,873 | -€245,015 | |
| Services and other goods | 61 | €1,276,480 | €1,054,819 | -€221,661 | -17.4% |
| Remuneration, social security and pensions | 62 | €2,112,900 | €1,756,455 | -€356,446 | -16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €875,964 | €595,433 | -€280,532 | -32.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,122 | -€25,198 | -€20,076 | -392.0% |
| Other operating charges | 640/8 | €56,282 | €104,160 | +€47,878 | +85.1% |
| Non-recurring operating charges | 66A | €24,130 | €19,322 | -€4,809 | -19.9% |
| Operating profit (loss) | 9901 | €249,355 | €317,067 | +€67,713 | +27.2% |
| Financial income | 75/76B | €2,929 | €5,192 | +€2,263 | +77.3% |
| Recurring financial income | 75 | €2,929 | €5,192 | +€2,263 | +77.3% |
| Other financial income | 752/9 | €2,929 | €5,192 | +€2,263 | +77.3% |
| Financial charges | 65/66B | €302,281 | €253,453 | -€48,829 | -16.2% |
| Recurring financial charges | 65 | €302,281 | €253,453 | -€48,829 | -16.2% |
| Debt charges | 650 | €200,083 | €167,689 | -€32,395 | -16.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €534 | €588 | +€54 | +10.2% |
| Other financial charges | 652/9 | €101,664 | €85,176 | -€16,488 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | -€49,997 | €68,807 | +€118,804 | |
| Transfer from deferred taxes | 780 | €2,965 | €2,965 | = | 0.0% |
| Income taxes | 67/77 | -€12,597 | €77,970 | +€90,566 | |
| Taxes | 670/3 | €8,384 | €77,970 | +€69,585 | +829.9% |
| Tax adjustments and reversals of tax provisions | 77 | €20,981 | - | -€20,981 | |
| Profit (loss) for the period | 9904 | -€34,436 | -€6,198 | +€28,238 | +82.0% |
| Transfer from tax-exempt reserves | 789 | €8,895 | €8,895 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,541 | €2,697 | +€28,238 |
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 10 October 2026 via checked.be.