JM SECURITY: what changed
Two fiscal 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 SECURITY
Largest movements
- Cash -€235,966
down €235,966 (-83.2%), from €283,561 to €47,595
mainly Contributions, distributions and other (-€330,000) and Receivables after one year (-€6,243)
- Receivables within one year -€43,809
down €43,809 (-74.6%), from €58,686 to €14,877
of which Trade receivables: -€40,808
- Receivables after one year +€6,243
up €6,243 (+4.0%), from €156,082 to €162,325
- Profit (loss) carried forward -€326,991
down €326,991, from €108,745 to -€218,246
- Trade debts +€56,098
up €56,098 (+284.1%), from €19,745 to €75,843
- Gross operating margin -€25,710
down €25,710, from €22,615 to -€3,095
- Taxes -€6,147
down €6,147 (-85.5%), from €7,188 to €1,041
- Financial income +€1,575
up €1,575 (+23.7%), from €6,651 to €8,226
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 | €501,706 | €227,365 | -€274,341 | -54.7% |
| Fixed assets | 21/28 | €1,531 | €692 | -€839 | -54.8% |
| Tangible fixed assets | 22/27 | €1,531 | €692 | -€839 | -54.8% |
| Plant, machinery and equipment | 23 | €1,531 | €692 | -€839 | -54.8% |
| Current assets | 29/58 | €500,175 | €226,673 | -€273,502 | -54.7% |
| Amounts receivable after more than one year | 29 | €156,082 | €162,325 | +€6,243 | +4.0% |
| Other amounts receivable | 291 | €156,082 | €162,325 | +€6,243 | +4.0% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,686 | €14,877 | -€43,809 | -74.6% |
| Trade receivables | 40 | €55,685 | €14,877 | -€40,808 | -73.3% |
| Other amounts receivable | 41 | €3,001 | - | -€3,001 | |
| Cash at bank and in hand | 54/58 | €283,561 | €47,595 | -€235,966 | -83.2% |
| Deferred charges and accrued income | 490/1 | €845 | €875 | +€30 | +3.5% |
| Total equity and liabilities | 10/49 | €501,706 | €227,365 | -€274,341 | -54.7% |
| Equity | 10/15 | €473,655 | €146,664 | -€326,991 | -69.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €344,910 | €344,910 | = | 0.0% |
| Distributable reserves | 133 | €344,910 | €344,910 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,745 | -€218,246 | -€326,991 | |
| Amounts payable | 17/49 | €28,051 | €80,701 | +€52,650 | +187.7% |
| Amounts payable within one year | 42/48 | €28,051 | €80,701 | +€52,650 | +187.7% |
| Trade debts | 44 | €19,745 | €75,843 | +€56,098 | +284.1% |
| Suppliers | 440/4 | €19,745 | €75,843 | +€56,098 | +284.1% |
| Taxes, remuneration and social security | 45 | €7,211 | €3,763 | -€3,448 | -47.8% |
| Taxes | 450/3 | €7,211 | €3,763 | -€3,448 | -47.8% |
| Other amounts payable | 47/48 | €1,095 | €1,095 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €839 | €839 | = | 0.0% |
| Other operating charges | 640/8 | €184 | €120 | -€64 | -34.8% |
| Gross operating margin | 9900 | €22,615 | -€3,095 | -€25,710 | |
| Operating profit (loss) | 9901 | €21,593 | -€4,054 | -€25,647 | |
| Financial income | 75/76B | €6,651 | €8,226 | +€1,575 | +23.7% |
| Recurring financial income | 75 | €6,651 | €8,226 | +€1,575 | +23.7% |
| Financial charges | 65/66B | €59 | €122 | +€63 | +105.9% |
| Recurring financial charges | 65 | €59 | €122 | +€63 | +105.9% |
| Profit (loss) for the period before taxes | 9903 | €28,184 | €4,050 | -€24,134 | -85.6% |
| Income taxes | 67/77 | €7,188 | €1,041 | -€6,147 | -85.5% |
| Profit (loss) for the period | 9904 | €20,997 | €3,009 | -€17,987 | -85.7% |
| Profit (loss) for the period to be appropriated | 9905 | €20,997 | €3,009 | -€17,987 | -85.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.