JMH CONSULT: 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.
JMH CONSULT
Largest movements
- Receivables within one year -€117,562
down €117,562 (-94.6%), from €124,292 to €6,730
of which Trade receivables: -€118,585
- Tangible fixed assets +€25,613
up €25,613 (+19.3%), from €132,901 to €158,514
of which Furniture and vehicles: +€39,474
- Stocks and contracts +€7,991
up €7,991 (+20.1%), from €39,809 to €47,800
- Cash -€7,226
down €7,226 (-50.0%), from €14,441 to €7,215
mainly Trade debts (-€86,079) and Investment in fixed assets (net) (-€45,930)
- Trade debts -€86,079
down €86,079 (-78.7%), from €109,317 to €23,238
- Debts after one year +€31,483
up €31,483 (+157%), from €20,000 to €51,483
- Profit (loss) carried forward -€25,516
down €25,516, from €21,100 to -€4,416
- Tax, wage and social debts -€18,229
down €18,229 (-91.9%), from €19,838 to €1,609
- Current portion of long-term debt +€8,786
new in 2025: €8,786
- Gross operating margin +€14,568
up €14,568 (+73.2%), from -€19,890 to -€5,322
- Depreciation +€3,784
up €3,784 (+26.0%), from €14,534 to €18,318
- Financial charges +€1,052
up €1,052 (+1,131%), from €93 to €1,145
- Other operating charges -€301
down €301 (-32.8%), from €920 to €619
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 | €313,943 | €224,758 | -€89,185 | -28.4% |
| Fixed assets | 21/28 | €135,401 | €163,014 | +€27,613 | +20.4% |
| Tangible fixed assets | 22/27 | €132,901 | €158,514 | +€25,613 | +19.3% |
| Land and buildings | 22 | €128,433 | €117,242 | -€11,191 | -8.7% |
| Plant, machinery and equipment | 23 | €4,381 | €1,711 | -€2,670 | -60.9% |
| Furniture and vehicles | 24 | €87 | €39,561 | +€39,474 | +45,372% |
| Financial fixed assets | 28 | €2,500 | €4,500 | +€2,000 | +80.0% |
| Current assets | 29/58 | €178,542 | €61,745 | -€116,797 | -65.4% |
| Stocks and contracts in progress | 3 | €39,809 | €47,800 | +€7,991 | +20.1% |
| Stocks | 30/36 | €39,809 | €47,800 | +€7,991 | +20.1% |
| Amounts receivable within one year | 40/41 | €124,292 | €6,730 | -€117,562 | -94.6% |
| Trade receivables | 40 | €123,720 | €5,135 | -€118,585 | -95.8% |
| Other amounts receivable | 41 | €572 | €1,595 | +€1,023 | +179% |
| Cash at bank and in hand | 54/58 | €14,441 | €7,215 | -€7,226 | -50.0% |
| Total equity and liabilities | 10/49 | €313,943 | €224,758 | -€89,185 | -28.4% |
| Equity | 10/15 | €99,660 | €74,144 | -€25,516 | -25.6% |
| Contributions | 10/11 | €6,700 | €6,700 | = | 0.0% |
| Reserves | 13 | €71,860 | €71,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,100 | -€4,416 | -€25,516 | |
| Amounts payable | 17/49 | €214,283 | €150,614 | -€63,669 | -29.7% |
| Amounts payable after more than one year | 17 | €20,000 | €51,483 | +€31,483 | +157% |
| Financial debts | 170/4 | €20,000 | €51,483 | +€31,483 | +157% |
| Amounts payable within one year | 42/48 | €194,283 | €99,131 | -€95,152 | -49.0% |
| Current portion of amounts payable after more than one year | 42 | - | €8,786 | +€8,786 | |
| Trade debts | 44 | €109,317 | €23,238 | -€86,079 | -78.7% |
| Suppliers | 440/4 | €109,317 | €23,238 | -€86,079 | -78.7% |
| Taxes, remuneration and social security | 45 | €19,838 | €1,609 | -€18,229 | -91.9% |
| Taxes | 450/3 | €19,838 | €1,609 | -€18,229 | -91.9% |
| Other amounts payable | 47/48 | €65,128 | €65,499 | +€371 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,534 | €18,318 | +€3,784 | +26.0% |
| Other operating charges | 640/8 | €920 | €619 | -€301 | -32.8% |
| Gross operating margin | 9900 | -€19,890 | -€5,322 | +€14,568 | +73.2% |
| Operating profit (loss) | 9901 | -€35,344 | -€24,258 | +€11,086 | +31.4% |
| Financial income | 75/76B | €5 | €35 | +€30 | +593% |
| Recurring financial income | 75 | €5 | €35 | +€30 | +593% |
| Financial charges | 65/66B | €93 | €1,145 | +€1,052 | +1,131% |
| Recurring financial charges | 65 | €93 | €1,145 | +€1,052 | +1,131% |
| Profit (loss) for the period before taxes | 9903 | -€35,432 | -€25,369 | +€10,063 | +28.4% |
| Income taxes | 67/77 | €144 | €147 | +€3 | +1.9% |
| Profit (loss) for the period | 9904 | -€35,576 | -€25,515 | +€10,061 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,576 | -€25,515 | +€10,061 | +28.3% |
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 20 October 2026 via checked.be.