JM PROJECTS: 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 PROJECTS
Largest movements
- Current investments -€70,867
down €70,867 (-54.5%), from €130,000 to €59,133
- Cash +€61,420
up €61,420 (+27.6%), from €222,209 to €283,629
mainly Net result for the year (+€125,981) and Current investments (+€70,867)
- Receivables within one year +€5,737
up €5,737 (+13.6%), from €42,250 to €47,987
of which Other amounts receivable: +€4,230
- Other debts -€137,918
down €137,918 (-100.0%), from €137,918 to €0
- Reserves +€125,981
up €125,981 (+46.4%), from €271,481 to €397,462
- Tax, wage and social debts +€12,260
up €12,260 (+72.0%), from €17,028 to €29,288
- Gross operating margin -€12,924
down €12,924 (-6.3%), from €205,163 to €192,239
- Financial income +€3,198
up €3,198 (+176.7%), from €1,810 to €5,008
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €447,272 | €445,350 | -€1,922 | -0.4% |
| Fixed assets | 21/28 | €52,813 | €54,601 | +€1,788 | +3.4% |
| Tangible fixed assets | 22/27 | €52,813 | €54,601 | +€1,788 | +3.4% |
| Land and buildings | 22 | €1,607 | €25,367 | +€23,761 | +1478.7% |
| Plant, machinery and equipment | 23 | €3,159 | €2,505 | -€654 | -20.7% |
| Furniture and vehicles | 24 | €48,047 | €26,728 | -€21,318 | -44.4% |
| Current assets | 29/58 | €394,459 | €390,748 | -€3,710 | -0.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €42,250 | €47,987 | +€5,737 | +13.6% |
| Trade receivables | 40 | €28,612 | €30,118 | +€1,507 | +5.3% |
| Other amounts receivable | 41 | €13,638 | €17,868 | +€4,230 | +31.0% |
| Current investments | 50/53 | €130,000 | €59,133 | -€70,867 | -54.5% |
| Cash at bank and in hand | 54/58 | €222,209 | €283,629 | +€61,420 | +27.6% |
| Total equity and liabilities | 10/49 | €447,272 | €445,350 | -€1,922 | -0.4% |
| Equity | 10/15 | €290,081 | €416,062 | +€125,981 | +43.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €271,481 | €397,462 | +€125,981 | +46.4% |
| Distributable reserves | 133 | €271,481 | €397,462 | +€125,981 | +46.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €157,191 | €29,288 | -€127,903 | -81.4% |
| Amounts payable within one year | 42/48 | €156,803 | €29,288 | -€127,516 | -81.3% |
| Trade debts | 44 | €1,857 | €0 | -€1,857 | -100.0% |
| Suppliers | 440/4 | €1,857 | €0 | -€1,857 | -100.0% |
| Taxes, remuneration and social security | 45 | €17,028 | €29,288 | +€12,260 | +72.0% |
| Taxes | 450/3 | €17,028 | €29,288 | +€12,260 | +72.0% |
| Other amounts payable | 47/48 | €137,918 | €0 | -€137,918 | -100.0% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,119 | €2,220 | +€1,101 | +98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,841 | €24,629 | +€789 | +3.3% |
| Other operating charges | 640/8 | €1,570 | €994 | -€576 | -36.7% |
| Gross operating margin | 9900 | €205,163 | €192,239 | -€12,924 | -6.3% |
| Operating profit (loss) | 9901 | €178,633 | €164,396 | -€14,237 | -8.0% |
| Financial income | 75/76B | €1,810 | €5,008 | +€3,198 | +176.7% |
| Recurring financial income | 75 | €1,810 | €5,008 | +€3,198 | +176.7% |
| Financial charges | 65/66B | €93 | €909 | +€816 | +880.6% |
| Recurring financial charges | 65 | €93 | €909 | +€816 | +880.6% |
| Profit (loss) for the period before taxes | 9903 | €180,351 | €168,495 | -€11,856 | -6.6% |
| Income taxes | 67/77 | €42,432 | €42,514 | +€82 | +0.2% |
| Profit (loss) for the period | 9904 | €137,918 | €125,981 | -€11,937 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €137,918 | €125,981 | -€11,937 | -8.7% |
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 11 October 2026 via checked.be.