JM2V: 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.
JM2V
Largest movements
- Financial fixed assets +€10,024
up €10,024 (+7.3%), from €137,005 to €147,029
- Cash +€3,131
up €3,131 (+55.3%), from €5,659 to €8,791
mainly Other debts (+€21,958) and Depreciation (+€333)
- Other debts +€21,958
up €21,958 (+8.2%), from €266,476 to €288,434
- Profit (loss) carried forward -€5,040
down €5,040 (-3.4%), from -€148,060 to -€153,100
- Tax, wage and social debts -€3,582
down €3,582 (-87.1%), from €4,112 to €530
- Purchases and services -€12,902
down €12,902 (-34.9%), from €36,924 to €24,022
- Financial charges -€10,131
down €10,131 (-94.0%), from €10,774 to €643
of which Non-recurring financial charges: -€10,100
- Turnover -€7,967
no longer reported in 2025 (was €7,967)
- Depreciation -€7,021
down €7,021 (-95.5%), from €7,354 to €333
- Gross operating margin +€4,648
up €4,648 (+22.2%), from -€20,926 to -€16,279
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 | €142,932 | €156,524 | +€13,592 | +9.5% |
| Fixed assets | 21/28 | €137,005 | €147,694 | +€10,690 | +7.8% |
| Tangible fixed assets | 22/27 | €0 | €666 | +€666 | |
| Furniture and vehicles | 24 | €0 | €666 | +€666 | |
| Financial fixed assets | 28 | €137,005 | €147,029 | +€10,024 | +7.3% |
| Current assets | 29/58 | €5,928 | €8,830 | +€2,902 | +49.0% |
| Amounts receivable within one year | 40/41 | €268 | €39 | -€229 | -85.4% |
| Other amounts receivable | 41 | €268 | €39 | -€229 | -85.4% |
| Cash at bank and in hand | 54/58 | €5,659 | €8,791 | +€3,131 | +55.3% |
| Total equity and liabilities | 10/49 | €142,932 | €156,524 | +€13,592 | +9.5% |
| Equity | 10/15 | -€127,655 | -€132,695 | -€5,040 | -3.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Capital | 10 | €18,550 | €18,550 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Legal reserve | 130 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,060 | -€153,100 | -€5,040 | -3.4% |
| Amounts payable | 17/49 | €270,587 | €289,219 | +€18,632 | +6.9% |
| Amounts payable within one year | 42/48 | €270,587 | €289,219 | +€18,632 | +6.9% |
| Trade debts | 44 | - | €256 | +€256 | |
| Suppliers | 440/4 | - | €256 | +€256 | |
| Taxes, remuneration and social security | 45 | €4,112 | €530 | -€3,582 | -87.1% |
| Taxes | 450/3 | €4,112 | €530 | -€3,582 | -87.1% |
| Other amounts payable | 47/48 | €266,476 | €288,434 | +€21,958 | +8.2% |
| Turnover | 70 | €7,967 | - | -€7,967 | |
| Non-recurring operating income | 76A | €11,174 | €7,744 | -€3,431 | -30.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €36,924 | €24,022 | -€12,902 | -34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,354 | €333 | -€7,021 | -95.5% |
| Other operating charges | 640/8 | - | €1,472 | +€1,472 | |
| Gross operating margin | 9900 | -€20,926 | -€16,279 | +€4,648 | +22.2% |
| Operating profit (loss) | 9901 | -€28,281 | -€18,084 | +€10,197 | +36.1% |
| Financial income | 75/76B | €10,068 | €13,687 | +€3,619 | +35.9% |
| Recurring financial income | 75 | €10,068 | €13,687 | +€3,619 | +35.9% |
| Financial charges | 65/66B | €10,774 | €643 | -€10,131 | -94.0% |
| Recurring financial charges | 65 | €674 | €643 | -€31 | -4.5% |
| Non-recurring financial charges | 66B | €10,100 | - | -€10,100 | |
| Profit (loss) for the period before taxes | 9903 | -€28,986 | -€5,040 | +€23,946 | +82.6% |
| Income taxes | 67/77 | -€419 | - | +€419 | |
| Profit (loss) for the period | 9904 | -€28,568 | -€5,040 | +€23,527 | +82.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,568 | -€5,040 | +€23,527 | +82.4% |
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 3 October 2026 via checked.be.