JMIV: 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.
JMIV
Largest movements
- Tangible fixed assets +€968,335
up €968,335 (+68.7%), from €1.4m to €2.4m
of which Land and buildings: +€963,529
- Cash -€237,099
down €237,099 (-91.1%), from €260,337 to €23,238
mainly Investment in fixed assets (net) (-€1.1m) and Net result for the year (-€123,436)
- Debts after one year +€575,382
up €575,382 (+38.6%), from €1.5m to €2.1m
- Other debts +€240,059
up €240,059 (+104.6%), from €229,405 to €469,463
- Profit (loss) carried forward -€123,436
down €123,436 (-111.1%), from -€111,105 to -€234,541
- Current portion of long-term debt +€31,970
up €31,970 (+58.6%), from €54,559 to €86,529
- Depreciation +€38,961
up €38,961 (+88.5%), from €44,021 to €82,982
- Financial charges +€32,115
up €32,115 (+101.3%), from €31,711 to €63,826
- Gross operating margin -€14,669
down €14,669 (-38.2%), from €38,365 to €23,696
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 | €1,669,300 | €2,400,972 | +€731,672 | +43.8% |
| Fixed assets | 21/28 | €1,408,907 | €2,377,242 | +€968,335 | +68.7% |
| Tangible fixed assets | 22/27 | €1,408,907 | €2,377,242 | +€968,335 | +68.7% |
| Land and buildings | 22 | €1,408,907 | €2,372,436 | +€963,529 | +68.4% |
| Furniture and vehicles | 24 | - | €4,806 | +€4,806 | |
| Current assets | 29/58 | €260,393 | €23,730 | -€236,664 | -90.9% |
| Amounts receivable within one year | 40/41 | - | €433 | +€433 | |
| Other amounts receivable | 41 | - | €433 | +€433 | |
| Cash at bank and in hand | 54/58 | €260,337 | €23,238 | -€237,099 | -91.1% |
| Deferred charges and accrued income | 490/1 | €56 | €59 | +€3 | +4.9% |
| Total equity and liabilities | 10/49 | €1,669,300 | €2,400,972 | +€731,672 | +43.8% |
| Equity | 10/15 | -€106,105 | -€229,541 | -€123,436 | -116.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,105 | -€234,541 | -€123,436 | -111.1% |
| Amounts payable | 17/49 | €1,775,405 | €2,630,513 | +€855,108 | +48.2% |
| Amounts payable after more than one year | 17 | €1,491,441 | €2,066,823 | +€575,382 | +38.6% |
| Financial debts | 170/4 | €1,491,441 | €2,066,823 | +€575,382 | +38.6% |
| Amounts payable within one year | 42/48 | €283,964 | €561,690 | +€277,726 | +97.8% |
| Current portion of amounts payable after more than one year | 42 | €54,559 | €86,529 | +€31,970 | +58.6% |
| Trade debts | 44 | - | €5,697 | +€5,697 | |
| Suppliers | 440/4 | - | €5,697 | +€5,697 | |
| Other amounts payable | 47/48 | €229,405 | €469,463 | +€240,059 | +104.6% |
| Accrued charges and deferred income | 492/3 | - | €2,000 | +€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,021 | €82,982 | +€38,961 | +88.5% |
| Other operating charges | 640/8 | €633 | €324 | -€309 | -48.8% |
| Non-recurring operating charges | 66A | €2,166 | - | -€2,166 | |
| Gross operating margin | 9900 | €38,365 | €23,696 | -€14,669 | -38.2% |
| Operating profit (loss) | 9901 | -€8,455 | -€59,610 | -€51,155 | -605.0% |
| Financial charges | 65/66B | €31,711 | €63,826 | +€32,115 | +101.3% |
| Recurring financial charges | 65 | €31,711 | €63,826 | +€32,115 | +101.3% |
| Profit (loss) for the period before taxes | 9903 | -€40,166 | -€123,436 | -€83,270 | -207.3% |
| Profit (loss) for the period | 9904 | -€40,166 | -€123,436 | -€83,270 | -207.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,166 | -€123,436 | -€83,270 | -207.3% |
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.