JM Holding: 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 Holding
Largest movements
- Receivables within one year -€169,555
down €169,555 (-45.4%), from €373,769 to €204,214
of which Other amounts receivable: -€86,498
- Trade debts -€754,969
down €754,969 (-81.9%), from €922,312 to €167,343
- Other debts +€585,353
up €585,353 (+2,375%), from €24,648 to €610,001
- Debts after one year -€80,802
down €80,802 (-15.4%), from €524,883 to €444,081
- Reserves +€56,458
up €56,458 (+10.9%), from €519,784 to €576,242
of which Distributable reserves: +€56,458
- Staff costs +€117,924
new in 2025: €117,924
- Gross operating margin +€98,661
up €98,661 (+85.7%), from €115,129 to €213,791
- Financial charges -€5,155
down €5,155 (-22.9%), from €22,514 to €17,359
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 | €5,373,967 | €5,178,750 | -€195,217 | -3.6% |
| Fixed assets | 21/28 | €4,937,617 | €4,937,617 | = | 0.0% |
| Financial fixed assets | 28 | €4,937,617 | €4,937,617 | = | 0.0% |
| Current assets | 29/58 | €436,350 | €241,133 | -€195,217 | -44.7% |
| Amounts receivable within one year | 40/41 | €373,769 | €204,214 | -€169,555 | -45.4% |
| Trade receivables | 40 | €238,411 | €155,355 | -€83,057 | -34.8% |
| Other amounts receivable | 41 | €135,358 | €48,859 | -€86,498 | -63.9% |
| Cash at bank and in hand | 54/58 | €60,830 | €36,919 | -€23,911 | -39.3% |
| Deferred charges and accrued income | 490/1 | €1,751 | €0 | -€1,751 | -100% |
| Total equity and liabilities | 10/49 | €5,373,967 | €5,178,750 | -€195,217 | -3.6% |
| Equity | 10/15 | €3,789,584 | €3,846,042 | +€56,458 | +1.5% |
| Contributions | 10/11 | €3,269,800 | €3,269,800 | = | 0.0% |
| Reserves | 13 | €519,784 | €576,242 | +€56,458 | +10.9% |
| Non-distributable reserves | 130/1 | €3,668 | €3,668 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,668 | €3,668 | = | 0.0% |
| Distributable reserves | 133 | €516,116 | €572,574 | +€56,458 | +10.9% |
| Amounts payable | 17/49 | €1,584,383 | €1,332,708 | -€251,675 | -15.9% |
| Amounts payable after more than one year | 17 | €524,883 | €444,081 | -€80,802 | -15.4% |
| Financial debts | 170/4 | €524,883 | €444,081 | -€80,802 | -15.4% |
| Amounts payable within one year | 42/48 | €1,059,500 | €888,627 | -€170,873 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €87,754 | €87,532 | -€222 | -0.3% |
| Trade debts | 44 | €922,312 | €167,343 | -€754,969 | -81.9% |
| Suppliers | 440/4 | €922,312 | €167,343 | -€754,969 | -81.9% |
| Taxes, remuneration and social security | 45 | €24,787 | €23,751 | -€1,035 | -4.2% |
| Taxes | 450/3 | €24,787 | €15,302 | -€9,485 | -38.3% |
| Remuneration and social security | 454/9 | €0 | €8,450 | +€8,450 | |
| Other amounts payable | 47/48 | €24,648 | €610,001 | +€585,353 | +2,375% |
| Remuneration, social security and pensions | 62 | - | €117,924 | +€117,924 | |
| Other operating charges | 640/8 | €261 | €1,341 | +€1,080 | +414% |
| Gross operating margin | 9900 | €115,129 | €213,791 | +€98,661 | +85.7% |
| Operating profit (loss) | 9901 | €114,868 | €94,526 | -€20,342 | -17.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €22,514 | €17,359 | -€5,155 | -22.9% |
| Recurring financial charges | 65 | €22,514 | €17,359 | -€5,155 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €92,354 | €77,167 | -€15,188 | -16.4% |
| Income taxes | 67/77 | €21,008 | €20,708 | -€299 | -1.4% |
| Profit (loss) for the period | 9904 | €71,347 | €56,458 | -€14,889 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,347 | €56,458 | -€14,889 | -20.9% |
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 28 October 2026 via checked.be.