JM GOLF: 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.
JM GOLF
Largest movements
- Cash +€10,508
up €10,508 (+86.8%), from €12,100 to €22,608
mainly Net result for the year (+€22,438) and Tax, wage and social debts (+€1,476)
- Receivables within one year +€1,746
up €1,746 (+25,268%), from €7 to €1,753
of which Trade receivables: +€1,733
- Profit (loss) carried forward +€22,438
up €22,438 (+8.2%), from -€273,649 to -€251,211
- Other debts -€12,767
down €12,767 (-21.9%), from €58,288 to €45,522
- Tax, wage and social debts +€1,476
up €1,476 (+145%), from €1,015 to €2,491
- Trade debts +€1,106
up €1,106 (+286%), from €387 to €1,494
- Gross operating margin +€1,600
up €1,600 (+7.5%), from €21,397 to €22,996
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 | €12,107 | €24,360 | +€12,254 | +101% |
| Current assets | 29/58 | €12,107 | €24,360 | +€12,254 | +101% |
| Amounts receivable within one year | 40/41 | €7 | €1,753 | +€1,746 | +25,268% |
| Trade receivables | 40 | €0 | €1,733 | +€1,733 | |
| Other amounts receivable | 41 | €7 | €20 | +€13 | +186% |
| Cash at bank and in hand | 54/58 | €12,100 | €22,608 | +€10,508 | +86.8% |
| Total equity and liabilities | 10/49 | €12,107 | €24,360 | +€12,254 | +101% |
| Equity | 10/15 | -€255,049 | -€232,611 | +€22,438 | +8.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€273,649 | -€251,211 | +€22,438 | +8.2% |
| Amounts payable | 17/49 | €267,156 | €256,971 | -€10,184 | -3.8% |
| Amounts payable after more than one year | 17 | €207,465 | €207,465 | = | 0.0% |
| Financial debts | 170/4 | €207,465 | €207,465 | = | 0.0% |
| Amounts payable within one year | 42/48 | €59,691 | €49,507 | -€10,184 | -17.1% |
| Trade debts | 44 | €387 | €1,494 | +€1,106 | +286% |
| Suppliers | 440/4 | €387 | €1,494 | +€1,106 | +286% |
| Taxes, remuneration and social security | 45 | €1,015 | €2,491 | +€1,476 | +145% |
| Taxes | 450/3 | €1,015 | €2,491 | +€1,476 | +145% |
| Other amounts payable | 47/48 | €58,288 | €45,522 | -€12,767 | -21.9% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €21,397 | €22,996 | +€1,600 | +7.5% |
| Operating profit (loss) | 9901 | €20,891 | €22,477 | +€1,585 | +7.6% |
| Financial income | 75/76B | €28 | €66 | +€38 | +135% |
| Recurring financial income | 75 | €28 | €66 | +€38 | +135% |
| Financial charges | 65/66B | €104 | €104 | = | 0.0% |
| Recurring financial charges | 65 | €104 | €104 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €20,815 | €22,438 | +€1,623 | +7.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €20,815 | €22,438 | +€1,623 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,815 | €22,438 | +€1,623 | +7.8% |
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 21 October 2026 via checked.be.