JMF: 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.
JMF
Largest movements
- Cash +€35,978
up €35,978 (+111.8%), from €32,191 to €68,169
mainly Debts after one year (+€50,172) and Depreciation (+€20,496)
- Tangible fixed assets +€23,508
up €23,508 (+32.3%), from €72,870 to €96,378
of which Other tangible fixed assets: +€22,814
- Receivables within one year +€14,959
up €14,959 (+68.9%), from €21,713 to €36,672
of which Other amounts receivable: +€27,488
- Stocks and contracts +€3,499
up €3,499 (+39.6%), from €8,829 to €12,327
- Debts after one year +€50,172
up €50,172 (+198.5%), from €25,280 to €75,452
- Other debts +€14,675
up €14,675 (+907.6%), from €1,617 to €16,291
- Current portion of long-term debt +€9,215
up €9,215 (+220.1%), from €4,187 to €13,402
- Tax, wage and social debts +€2,359
up €2,359 (+5.5%), from €43,041 to €45,399
of which Taxes: +€3,191
- Gross operating margin +€43,023
up €43,023 (+22.4%), from €191,852 to €234,874
- Depreciation +€4,656
up €4,656 (+29.4%), from €15,840 to €20,496
- Staff costs +€3,847
up €3,847 (+1.9%), from €201,497 to €205,345
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 | €143,320 | €222,607 | +€79,287 | +55.3% |
| Fixed assets | 21/28 | €72,870 | €96,768 | +€23,898 | +32.8% |
| Tangible fixed assets | 22/27 | €72,870 | €96,378 | +€23,508 | +32.3% |
| Plant, machinery and equipment | 23 | €28,129 | €30,651 | +€2,521 | +9.0% |
| Furniture and vehicles | 24 | €11,188 | €9,360 | -€1,828 | -16.3% |
| Other tangible fixed assets | 26 | €33,553 | €56,367 | +€22,814 | +68.0% |
| Financial fixed assets | 28 | - | €390 | +€390 | |
| Current assets | 29/58 | €70,450 | €125,839 | +€55,389 | +78.6% |
| Stocks and contracts in progress | 3 | €8,829 | €12,327 | +€3,499 | +39.6% |
| Stocks | 30/36 | €8,829 | €12,327 | +€3,499 | +39.6% |
| Amounts receivable within one year | 40/41 | €21,713 | €36,672 | +€14,959 | +68.9% |
| Trade receivables | 40 | €21,351 | €8,822 | -€12,529 | -58.7% |
| Other amounts receivable | 41 | €362 | €27,850 | +€27,488 | +7595.1% |
| Cash at bank and in hand | 54/58 | €32,191 | €68,169 | +€35,978 | +111.8% |
| Deferred charges and accrued income | 490/1 | €7,718 | €8,670 | +€953 | +12.3% |
| Total equity and liabilities | 10/49 | €143,320 | €222,607 | +€79,287 | +55.3% |
| Equity | 10/15 | €32,928 | €33,217 | +€290 | +0.9% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,428 | €5,717 | +€290 | +5.3% |
| Amounts payable | 17/49 | €110,392 | €189,390 | +€78,998 | +71.6% |
| Amounts payable after more than one year | 17 | €25,280 | €75,452 | +€50,172 | +198.5% |
| Financial debts | 170/4 | €25,280 | €75,452 | +€50,172 | +198.5% |
| Amounts payable within one year | 42/48 | €85,112 | €111,962 | +€26,850 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | €4,187 | €13,402 | +€9,215 | +220.1% |
| Trade debts | 44 | €36,269 | €36,870 | +€601 | +1.7% |
| Suppliers | 440/4 | €36,269 | €36,870 | +€601 | +1.7% |
| Taxes, remuneration and social security | 45 | €43,041 | €45,399 | +€2,359 | +5.5% |
| Taxes | 450/3 | €18,342 | €21,533 | +€3,191 | +17.4% |
| Remuneration and social security | 454/9 | €24,698 | €23,866 | -€832 | -3.4% |
| Other amounts payable | 47/48 | €1,617 | €16,291 | +€14,675 | +907.6% |
| Accrued charges and deferred income | 492/3 | - | €1,976 | +€1,976 | |
| Non-recurring operating income | 76A | - | €472 | +€472 | |
| Remuneration, social security and pensions | 62 | €201,497 | €205,345 | +€3,847 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,840 | €20,496 | +€4,656 | +29.4% |
| Other operating charges | 640/8 | €3,771 | €3,845 | +€74 | +2.0% |
| Non-recurring operating charges | 66A | - | €1,450 | +€1,450 | |
| Gross operating margin | 9900 | €191,852 | €234,874 | +€43,023 | +22.4% |
| Operating profit (loss) | 9901 | -€29,256 | €3,739 | +€32,995 | |
| Financial income | 75/76B | €10 | €1,575 | +€1,565 | +14974.3% |
| Recurring financial income | 75 | €10 | €1,575 | +€1,565 | +14974.3% |
| Financial charges | 65/66B | €5,440 | €5,025 | -€415 | -7.6% |
| Recurring financial charges | 65 | €5,440 | €5,025 | -€415 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€34,686 | €290 | +€34,975 | |
| Profit (loss) for the period | 9904 | -€34,686 | €290 | +€34,975 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,686 | €290 | +€34,975 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.