JMG: 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.
JMG
Largest movements
- Receivables within one year +€112,397
up €112,397 (+64.8%), from €173,396 to €285,793
of which Trade receivables: +€109,520
- Cash -€106,008
down €106,008 (-49.0%), from €216,461 to €110,453
mainly Receivables within one year (-€112,397) and Accrued charges and deferred income (-€50,000)
- Tangible fixed assets +€30,425
up €30,425 (+1,091%), from €2,789 to €33,214
- Reserves +€241,299
new in 2025: €241,299
- Profit (loss) carried forward -€158,210
no longer reported in 2025 (was €158,210)
- Accrued charges and deferred income -€50,000
no longer reported in 2025 (was €50,000)
- Trade debts +€25,562
up €25,562 (+49.9%), from €51,278 to €76,840
- Tax, wage and social debts -€15,682
down €15,682 (-57.5%), from €27,271 to €11,589
of which Taxes: -€24,682
- Gross operating margin +€29,534
up €29,534 (+29.9%), from €98,843 to €128,376
- Depreciation +€10,808
up €10,808 (+540%), from €2,000 to €12,808
- Financial charges +€6,998
up €6,998 (+17,875%), from €39 to €7,037
- Financial income +€4,232
up €4,232 (+3,899%), from €109 to €4,340
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 | €993,734 | €1,027,014 | +€33,280 | +3.3% |
| Fixed assets | 21/28 | €596,789 | €627,214 | +€30,425 | +5.1% |
| Tangible fixed assets | 22/27 | €2,789 | €33,214 | +€30,425 | +1,091% |
| Furniture and vehicles | 24 | €2,789 | €33,214 | +€30,425 | +1,091% |
| Financial fixed assets | 28 | €594,000 | €594,000 | = | 0.0% |
| Current assets | 29/58 | €396,945 | €399,800 | +€2,855 | +0.7% |
| Amounts receivable within one year | 40/41 | €173,396 | €285,793 | +€112,397 | +64.8% |
| Trade receivables | 40 | €172,174 | €281,694 | +€109,520 | +63.6% |
| Other amounts receivable | 41 | €1,222 | €4,099 | +€2,877 | +235% |
| Cash at bank and in hand | 54/58 | €216,461 | €110,453 | -€106,008 | -49.0% |
| Deferred charges and accrued income | 490/1 | €7,089 | €3,554 | -€3,535 | -49.9% |
| Total equity and liabilities | 10/49 | €993,734 | €1,027,014 | +€33,280 | +3.3% |
| Equity | 10/15 | €163,210 | €246,299 | +€83,089 | +50.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €241,299 | +€241,299 | |
| Distributable reserves | 133 | - | €241,299 | +€241,299 | |
| Profit (loss) carried forward | 14 | €158,210 | - | -€158,210 | |
| Amounts payable | 17/49 | €830,525 | €780,715 | -€49,810 | -6.0% |
| Amounts payable within one year | 42/48 | €780,525 | €780,715 | +€190 | 0.0% |
| Trade debts | 44 | €51,278 | €76,840 | +€25,562 | +49.9% |
| Suppliers | 440/4 | €51,278 | €76,840 | +€25,562 | +49.9% |
| Taxes, remuneration and social security | 45 | €27,271 | €11,589 | -€15,682 | -57.5% |
| Taxes | 450/3 | €27,271 | €2,589 | -€24,682 | -90.5% |
| Remuneration and social security | 454/9 | - | €9,000 | +€9,000 | |
| Other amounts payable | 47/48 | €701,976 | €692,286 | -€9,690 | -1.4% |
| Accrued charges and deferred income | 492/3 | €50,000 | - | -€50,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,000 | €12,808 | +€10,808 | +540% |
| Other operating charges | 640/8 | €1,681 | €2,579 | +€898 | +53.4% |
| Gross operating margin | 9900 | €98,843 | €128,376 | +€29,534 | +29.9% |
| Operating profit (loss) | 9901 | €95,162 | €112,989 | +€17,828 | +18.7% |
| Financial income | 75/76B | €109 | €4,340 | +€4,232 | +3,899% |
| Recurring financial income | 75 | €109 | €4,340 | +€4,232 | +3,899% |
| Financial charges | 65/66B | €39 | €7,037 | +€6,998 | +17,875% |
| Recurring financial charges | 65 | €39 | €7,037 | +€6,998 | +17,875% |
| Profit (loss) for the period before taxes | 9903 | €95,231 | €110,292 | +€15,061 | +15.8% |
| Income taxes | 67/77 | €26,304 | €27,203 | +€899 | +3.4% |
| Profit (loss) for the period | 9904 | €68,927 | €83,089 | +€14,162 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €68,927 | €83,089 | +€14,162 | +20.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.