JMK INVEST: 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.
JMK INVEST
Largest movements
- Cash +€322,362
up €322,362 (+325%), from €99,159 to €421,521
mainly Receivables within one year (+€186,990) and Net result for the year (+€142,349)
- Receivables within one year -€186,990
down €186,990 (-40.2%), from €465,572 to €278,582
of which Trade receivables: -€183,305
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€87,417
down €87,417 (-32.3%), from €270,526 to €183,110
of which Furniture and vehicles: -€65,235
- Receivables after one year -€50,285
down €50,285 (-9.0%), from €556,081 to €505,796
- Trade debts -€97,950
down €97,950 (-93.7%), from €104,519 to €6,569
- Other debts +€85,118
up €85,118 (+63.2%), from €134,600 to €219,718
- Debts after one year -€32,940
down €32,940 (-30.5%), from €108,177 to €75,236
- Reserves -€24,187
down €24,187 (-1.5%), from €1.6m to €1.6m
- Gross operating margin -€201,251
down €201,251 (-38.1%), from €528,519 to €327,268
- Taxes -€73,277
down €73,277 (-54.2%), from €135,232 to €61,956
- Depreciation +€25,650
up €25,650 (+62.0%), from €41,355 to €67,005
- Financial income -€8,984
down €8,984 (-48.2%), from €18,656 to €9,671
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 | €2,154,243 | €2,058,006 | -€96,237 | -4.5% |
| Fixed assets | 21/28 | €926,640 | €839,223 | -€87,417 | -9.4% |
| Tangible fixed assets | 22/27 | €270,526 | €183,110 | -€87,417 | -32.3% |
| Land and buildings | 22 | €22,181 | - | -€22,181 | |
| Furniture and vehicles | 24 | €248,345 | €183,110 | -€65,235 | -26.3% |
| Financial fixed assets | 28 | €656,114 | €656,114 | = | 0.0% |
| Current assets | 29/58 | €1,227,603 | €1,218,783 | -€8,820 | -0.7% |
| Amounts receivable after more than one year | 29 | €556,081 | €505,796 | -€50,285 | -9.0% |
| Other amounts receivable | 291 | €556,081 | €505,796 | -€50,285 | -9.0% |
| Amounts receivable within one year | 40/41 | €465,572 | €278,582 | -€186,990 | -40.2% |
| Trade receivables | 40 | €448,400 | €265,095 | -€183,305 | -40.9% |
| Other amounts receivable | 41 | €17,172 | €13,487 | -€3,685 | -21.5% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €99,159 | €421,521 | +€322,362 | +325% |
| Deferred charges and accrued income | 490/1 | €6,790 | €12,883 | +€6,093 | +89.7% |
| Total equity and liabilities | 10/49 | €2,154,243 | €2,058,006 | -€96,237 | -4.5% |
| Equity | 10/15 | €1,713,048 | €1,688,862 | -€24,187 | -1.4% |
| Contributions | 10/11 | €270,000 | €270,000 | = | 0.0% |
| Reserves | 13 | €1,584,240 | €1,560,053 | -€24,187 | -1.5% |
| Distributable reserves | 133 | €1,584,240 | €1,560,053 | -€24,187 | -1.5% |
| Profit (loss) carried forward | 14 | -€141,191 | -€141,191 | = | 0.0% |
| Amounts payable | 17/49 | €441,194 | €369,145 | -€72,050 | -16.3% |
| Amounts payable after more than one year | 17 | €108,177 | €75,236 | -€32,940 | -30.5% |
| Financial debts | 170/4 | €108,177 | €75,236 | -€32,940 | -30.5% |
| Amounts payable within one year | 42/48 | €331,754 | €293,159 | -€38,595 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €43,697 | €32,940 | -€10,756 | -24.6% |
| Financial debts | 43 | €44,139 | €25,250 | -€18,889 | -42.8% |
| Credit institutions | 430/8 | €44,139 | €25,250 | -€18,889 | -42.8% |
| Trade debts | 44 | €104,519 | €6,569 | -€97,950 | -93.7% |
| Suppliers | 440/4 | €104,519 | €6,569 | -€97,950 | -93.7% |
| Taxes, remuneration and social security | 45 | €4,800 | €8,682 | +€3,883 | +80.9% |
| Taxes | 450/3 | €4,330 | €8,189 | +€3,859 | +89.1% |
| Remuneration and social security | 454/9 | €470 | €494 | +€24 | +5.1% |
| Other amounts payable | 47/48 | €134,600 | €219,718 | +€85,118 | +63.2% |
| Accrued charges and deferred income | 492/3 | €1,263 | €749 | -€515 | -40.7% |
| Non-recurring operating income | 76A | €52,364 | - | -€52,364 | |
| Remuneration, social security and pensions | 62 | €47,742 | €49,675 | +€1,933 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,355 | €67,005 | +€25,650 | +62.0% |
| Other operating charges | 640/8 | €9,448 | €5,977 | -€3,471 | -36.7% |
| Non-recurring operating charges | 66A | €630 | €3,302 | +€2,672 | +424% |
| Gross operating margin | 9900 | €528,519 | €327,268 | -€201,251 | -38.1% |
| Operating profit (loss) | 9901 | €429,344 | €201,308 | -€228,036 | -53.1% |
| Financial income | 75/76B | €18,656 | €9,671 | -€8,984 | -48.2% |
| Recurring financial income | 75 | €18,656 | €9,671 | -€8,984 | -48.2% |
| Financial charges | 65/66B | €7,480 | €6,675 | -€805 | -10.8% |
| Recurring financial charges | 65 | €7,480 | €6,675 | -€805 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €440,520 | €204,305 | -€236,216 | -53.6% |
| Income taxes | 67/77 | €135,232 | €61,956 | -€73,277 | -54.2% |
| Profit (loss) for the period | 9904 | €305,288 | €142,349 | -€162,939 | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €305,288 | €142,349 | -€162,939 | -53.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.