JMD-VENTILATION: 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.
JMD-VENTILATION
Largest movements
- Tangible fixed assets +€72,347
up €72,347 (+31.3%), from €230,869 to €303,216
of which Furniture and vehicles: +€109,600
- Cash -€35,949
down €35,949 (-6.1%), from €585,858 to €549,909
mainly Contributions, distributions and other (-€160,873) and Investment in fixed assets (net) (-€136,530)
- Reserves -€157,200
down €157,200 (-34.7%), from €452,960 to €295,760
of which Distributable reserves: -€157,200
- Profit (loss) carried forward +€84,229
up €84,229 (+23.7%), from €355,613 to €439,841
- Current portion of long-term debt +€71,361
up €71,361 (+37.1%), from €192,204 to €263,566
- Other debts +€57,200
up €57,200 (+57.2%), from €100,000 to €157,200
- Trade debts -€21,234
down €21,234 (-29.4%), from €72,182 to €50,948
- Staff costs -€31,191
down €31,191 (-4.5%), from €687,141 to €655,950
- Gross operating margin +€13,364
up €13,364 (+1.6%), from €830,485 to €843,849
- Depreciation +€8,462
up €8,462 (+15.2%), from €55,671 to €64,133
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 | €1,404,789 | €1,434,883 | +€30,094 | +2.1% |
| Fixed assets | 21/28 | €231,328 | €303,725 | +€72,397 | +31.3% |
| Tangible fixed assets | 22/27 | €230,869 | €303,216 | +€72,347 | +31.3% |
| Land and buildings | 22 | €205,801 | €173,047 | -€32,754 | -15.9% |
| Plant, machinery and equipment | 23 | €8,646 | €4,147 | -€4,499 | -52.0% |
| Furniture and vehicles | 24 | €16,422 | €126,022 | +€109,600 | +667.4% |
| Financial fixed assets | 28 | €459 | €509 | +€50 | +10.9% |
| Current assets | 29/58 | €1,173,461 | €1,131,158 | -€42,303 | -3.6% |
| Stocks and contracts in progress | 3 | €412,037 | €402,032 | -€10,005 | -2.4% |
| Stocks | 30/36 | €412,037 | €402,032 | -€10,005 | -2.4% |
| Amounts receivable within one year | 40/41 | €160,094 | €169,156 | +€9,062 | +5.7% |
| Trade receivables | 40 | €120,705 | €101,305 | -€19,400 | -16.1% |
| Other amounts receivable | 41 | €39,389 | €67,851 | +€28,462 | +72.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €585,858 | €549,909 | -€35,949 | -6.1% |
| Deferred charges and accrued income | 490/1 | €15,472 | €10,062 | -€5,410 | -35.0% |
| Total equity and liabilities | 10/49 | €1,404,789 | €1,434,883 | +€30,094 | +2.1% |
| Equity | 10/15 | €830,846 | €754,201 | -€76,645 | -9.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €452,960 | €295,760 | -€157,200 | -34.7% |
| Tax-exempt reserves | 132 | €44,500 | €44,500 | = | 0.0% |
| Distributable reserves | 133 | €408,460 | €251,260 | -€157,200 | -38.5% |
| Profit (loss) carried forward | 14 | €355,613 | €439,841 | +€84,229 | +23.7% |
| Investment grants | 15 | €3,673 | €0 | -€3,673 | -100.0% |
| Amounts payable | 17/49 | €573,943 | €680,682 | +€106,739 | +18.6% |
| Amounts payable within one year | 42/48 | €573,709 | €680,682 | +€106,973 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €192,204 | €263,566 | +€71,361 | +37.1% |
| Trade debts | 44 | €72,182 | €50,948 | -€21,234 | -29.4% |
| Suppliers | 440/4 | €72,182 | €50,948 | -€21,234 | -29.4% |
| Advances received on contracts in progress | 46 | €86,674 | €72,999 | -€13,675 | -15.8% |
| Taxes, remuneration and social security | 45 | €122,649 | €135,970 | +€13,321 | +10.9% |
| Taxes | 450/3 | €24,189 | €30,066 | +€5,876 | +24.3% |
| Remuneration and social security | 454/9 | €98,459 | €105,904 | +€7,445 | +7.6% |
| Other amounts payable | 47/48 | €100,000 | €157,200 | +€57,200 | +57.2% |
| Accrued charges and deferred income | 492/3 | €234 | €0 | -€234 | -100.0% |
| Non-recurring operating income | 76A | €16,529 | €19,993 | +€3,464 | +21.0% |
| Remuneration, social security and pensions | 62 | €687,141 | €655,950 | -€31,191 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,671 | €64,133 | +€8,462 | +15.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€2,821 | -€2,821 | |
| Other operating charges | 640/8 | €12,977 | €19,854 | +€6,877 | +53.0% |
| Non-recurring operating charges | 66A | €495 | €3,581 | +€3,086 | +623.4% |
| Gross operating margin | 9900 | €830,485 | €843,849 | +€13,364 | +1.6% |
| Operating profit (loss) | 9901 | €74,201 | €103,153 | +€28,952 | +39.0% |
| Financial income | 75/76B | €11,899 | €7,913 | -€3,985 | -33.5% |
| Recurring financial income | 75 | €11,899 | €7,913 | -€3,985 | -33.5% |
| Financial charges | 65/66B | €3,389 | €4,879 | +€1,490 | +44.0% |
| Recurring financial charges | 65 | €3,389 | €4,879 | +€1,490 | +44.0% |
| Profit (loss) for the period before taxes | 9903 | €82,711 | €106,187 | +€23,476 | +28.4% |
| Income taxes | 67/77 | €24,239 | €21,959 | -€2,280 | -9.4% |
| Profit (loss) for the period | 9904 | €58,473 | €84,229 | +€25,756 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,473 | €84,229 | +€25,756 | +44.0% |
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 7 October 2026 via checked.be.