JM & JM: what changed
What changed
JM & JM
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€30,136
2024 · €39,756-€9,620
Equity
€425,544
2024 · €395,407+€30,136
Cash
€7,112
2024 · €12,977-€5,864
Balance sheet total
€670,202
2024 · €647,485+€22,717
Largest movements
Assets
- Receivables within one year +€36,695
up €36,695 (+24.9%), from €147,076 to €183,771
of which Trade receivables: +€29,040
- Tangible fixed assets -€13,223
down €13,223 (-4.9%), from €267,294 to €254,072
Equity and liabilities
- Reserves +€30,000
up €30,000 (+1,613%), from €1,860 to €31,860
of which Distributable reserves: +€30,000
- Debts after one year -€13,221
down €13,221 (-5.9%), from €222,334 to €209,114
Income statement
- Gross operating margin -€8,550
down €8,550 (-11.1%), from €76,818 to €68,268
- Taxes +€1,340
up €1,340 (+13.5%), from €9,940 to €11,279
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
€39,756
Gross operating margin
-€8,550
Other operating charges
-€278
Financial income
+€74
Financial charges
+€473
Taxes
-€1,340
Result 2025
€30,136
raises the resultlowers the result
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
+€6,725
Investment
€0
Financing
-€12,589
Cash 2024
€12,977
From operations (derived)
+€6,725
Net result for the year
+€30,136
Depreciation
+€13,223
Receivables within one year
-€36,695
Deferred charges and accrued income
-€5,109
Trade debts
+€1,210
Tax, wage and social debts
+€3,960
Financing
-€12,589
Debts after one year
-€13,221
Current portion of long-term debt
+€632
Cash 2025
€7,112
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €647,485 | €670,202 | +€22,717 | +3.5% |
| Fixed assets | 21/28 | €460,107 | €446,885 | -€13,223 | -2.9% |
| Tangible fixed assets | 22/27 | €267,294 | €254,072 | -€13,223 | -4.9% |
| Land and buildings | 22 | €267,294 | €254,072 | -€13,223 | -4.9% |
| Financial fixed assets | 28 | €192,813 | €192,813 | = | 0.0% |
| Current assets | 29/58 | €187,378 | €223,317 | +€35,940 | +19.2% |
| Amounts receivable within one year | 40/41 | €147,076 | €183,771 | +€36,695 | +24.9% |
| Trade receivables | 40 | €43,560 | €72,600 | +€29,040 | +66.7% |
| Other amounts receivable | 41 | €103,516 | €111,171 | +€7,655 | +7.4% |
| Cash at bank and in hand | 54/58 | €12,977 | €7,112 | -€5,864 | -45.2% |
| Deferred charges and accrued income | 490/1 | €27,325 | €32,434 | +€5,109 | +18.7% |
| Total equity and liabilities | 10/49 | €647,485 | €670,202 | +€22,717 | +3.5% |
| Equity | 10/15 | €395,407 | €425,544 | +€30,136 | +7.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €31,860 | +€30,000 | +1,613% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €30,000 | +€30,000 | |
| Profit (loss) carried forward | 14 | €378,547 | €378,684 | +€136 | 0.0% |
| Amounts payable | 17/49 | €252,077 | €244,658 | -€7,419 | -2.9% |
| Amounts payable after more than one year | 17 | €222,334 | €209,114 | -€13,221 | -5.9% |
| Financial debts | 170/4 | €222,334 | €209,114 | -€13,221 | -5.9% |
| Amounts payable within one year | 42/48 | €29,743 | €35,545 | +€5,802 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €14,516 | €15,147 | +€632 | +4.4% |
| Trade debts | 44 | €5,577 | €6,788 | +€1,210 | +21.7% |
| Suppliers | 440/4 | €5,577 | €6,788 | +€1,210 | +21.7% |
| Taxes, remuneration and social security | 45 | €9,650 | €13,610 | +€3,960 | +41.0% |
| Taxes | 450/3 | €9,650 | €13,610 | +€3,960 | +41.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,223 | €13,223 | = | 0.0% |
| Other operating charges | 640/8 | €2,605 | €2,883 | +€278 | +10.7% |
| Gross operating margin | 9900 | €76,818 | €68,268 | -€8,550 | -11.1% |
| Operating profit (loss) | 9901 | €60,990 | €52,163 | -€8,828 | -14.5% |
| Financial income | 75/76B | €1 | €75 | +€74 | +6,856% |
| Recurring financial income | 75 | €1 | €75 | +€74 | +6,856% |
| Financial charges | 65/66B | €11,296 | €10,823 | -€473 | -4.2% |
| Recurring financial charges | 65 | €11,296 | €10,823 | -€473 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €49,696 | €41,415 | -€8,280 | -16.7% |
| Income taxes | 67/77 | €9,940 | €11,279 | +€1,340 | +13.5% |
| Profit (loss) for the period | 9904 | €39,756 | €30,136 | -€9,620 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,756 | €30,136 | -€9,620 | -24.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.