JMCF INVEST: 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.
JMCF INVEST
Largest movements
- Financial fixed assets -€261,808
down €261,808 (-99.9%), from €261,960 to €152
- Tangible fixed assets -€167,398
down €167,398 (-40.3%), from €415,354 to €247,956
of which Land and buildings: -€167,928
- Cash +€151,970
up €151,970 (+2,250%), from €6,755 to €158,725
mainly Investment in fixed assets (net) (+€417,102) and Depreciation (+€12,104)
- Receivables within one year +€29,294
up €29,294 (+200%), from €14,647 to €43,941
- Profit (loss) carried forward -€113,881
down €113,881, from €72,610 to -€41,271
- Other debts -€50,736
down €50,736 (-31.8%), from €159,529 to €108,793
- Debts after one year -€48,842
down €48,842 (-17.3%), from €282,122 to €233,280
- Tax, wage and social debts -€33,859
down €33,859 (-66.4%), from €50,966 to €17,107
of which Taxes: -€28,859
- Gross operating margin +€99,651
up €99,651 (+135%), from €73,846 to €173,497
- Taxes -€16,362
down €16,362, from €15,097 to -€1,265
- Financial charges -€7,746
down €7,746 (-44.2%), from €17,514 to €9,768
- Other operating charges -€3,125
down €3,125 (-37.6%), from €8,315 to €5,190
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 | €703,985 | €456,381 | -€247,604 | -35.2% |
| Fixed assets | 21/28 | €677,315 | €248,109 | -€429,206 | -63.4% |
| Tangible fixed assets | 22/27 | €415,354 | €247,956 | -€167,398 | -40.3% |
| Land and buildings | 22 | €413,403 | €245,475 | -€167,928 | -40.6% |
| Furniture and vehicles | 24 | €1,951 | €2,481 | +€530 | +27.1% |
| Financial fixed assets | 28 | €261,960 | €152 | -€261,808 | -99.9% |
| Current assets | 29/58 | €26,670 | €208,272 | +€181,602 | +681% |
| Amounts receivable within one year | 40/41 | €14,647 | €43,941 | +€29,294 | +200% |
| Trade receivables | 40 | €14,647 | €43,941 | +€29,294 | +200% |
| Cash at bank and in hand | 54/58 | €6,755 | €158,725 | +€151,970 | +2,250% |
| Deferred charges and accrued income | 490/1 | €5,269 | €5,606 | +€337 | +6.4% |
| Total equity and liabilities | 10/49 | €703,985 | €456,381 | -€247,604 | -35.2% |
| Equity | 10/15 | €158,874 | €44,993 | -€113,881 | -71.7% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €79,964 | €79,964 | = | 0.0% |
| Distributable reserves | 133 | €79,964 | €79,964 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,610 | -€41,271 | -€113,881 | |
| Amounts payable | 17/49 | €545,111 | €411,387 | -€133,724 | -24.5% |
| Amounts payable after more than one year | 17 | €282,122 | €233,280 | -€48,842 | -17.3% |
| Financial debts | 170/4 | €282,122 | €233,280 | -€48,842 | -17.3% |
| Amounts payable within one year | 42/48 | €262,989 | €178,107 | -€84,881 | -32.3% |
| Current portion of amounts payable after more than one year | 42 | €49,105 | €48,842 | -€263 | -0.5% |
| Trade debts | 44 | €3,389 | €3,365 | -€24 | -0.7% |
| Suppliers | 440/4 | €3,389 | €3,365 | -€24 | -0.7% |
| Taxes, remuneration and social security | 45 | €50,966 | €17,107 | -€33,859 | -66.4% |
| Taxes | 450/3 | €45,966 | €17,107 | -€28,859 | -62.8% |
| Remuneration and social security | 454/9 | €5,000 | - | -€5,000 | |
| Other amounts payable | 47/48 | €159,529 | €108,793 | -€50,736 | -31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,183 | €12,104 | -€79 | -0.6% |
| Other operating charges | 640/8 | €8,315 | €5,190 | -€3,125 | -37.6% |
| Non-recurring operating charges | 66A | - | €261,808 | +€261,808 | |
| Gross operating margin | 9900 | €73,846 | €173,497 | +€99,651 | +135% |
| Operating profit (loss) | 9901 | €53,347 | -€105,605 | -€158,952 | |
| Financial income | 75/76B | - | €227 | +€227 | |
| Recurring financial income | 75 | - | €227 | +€227 | |
| Financial charges | 65/66B | €17,514 | €9,768 | -€7,746 | -44.2% |
| Recurring financial charges | 65 | €17,514 | €9,768 | -€7,746 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | €35,834 | -€115,146 | -€150,979 | |
| Income taxes | 67/77 | €15,097 | -€1,265 | -€16,362 | |
| Profit (loss) for the period | 9904 | €20,737 | -€113,881 | -€134,617 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,737 | -€113,881 | -€134,617 |
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.