JMM 109: 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.
JMM 109
Largest movements
- Cash +€42,498
up €42,498 (+22.5%), from €188,808 to €231,306
mainly Net result for the year (+€42,111) and Other debts (+€12,942)
- Tangible fixed assets -€14,214
down €14,214 (-33.9%), from €41,963 to €27,749
- Receivables within one year +€13,642
up €13,642 (+26.7%), from €51,050 to €64,691
of which Other amounts receivable: +€53,782
- Reserves +€25,453
up €25,453 (+9.8%), from €259,720 to €285,172
- Other debts +€12,942
up €12,942 (+348%), from €3,716 to €16,658
- Gross operating margin -€62,836
down €62,836 (-44.7%), from €140,417 to €77,581
- Taxes -€20,445
down €20,445 (-46.3%), from €44,175 to €23,730
- Other operating charges -€5,253
down €5,253 (-86.8%), from €6,052 to €799
- Depreciation +€3,551
up €3,551 (+50.6%), from €7,018 to €10,569
- Financial income -€2,995
down €2,995 (-100.0%), from €2,996 to €0
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 | €283,791 | €325,701 | +€41,909 | +14.8% |
| Fixed assets | 21/28 | €41,963 | €27,749 | -€14,214 | -33.9% |
| Tangible fixed assets | 22/27 | €41,963 | €27,749 | -€14,214 | -33.9% |
| Furniture and vehicles | 24 | €41,963 | €27,749 | -€14,214 | -33.9% |
| Current assets | 29/58 | €241,828 | €297,952 | +€56,124 | +23.2% |
| Amounts receivable within one year | 40/41 | €51,050 | €64,691 | +€13,642 | +26.7% |
| Trade receivables | 40 | €42,595 | €2,455 | -€40,140 | -94.2% |
| Other amounts receivable | 41 | €8,455 | €62,236 | +€53,782 | +636% |
| Cash at bank and in hand | 54/58 | €188,808 | €231,306 | +€42,498 | +22.5% |
| Deferred charges and accrued income | 490/1 | €1,970 | €1,954 | -€16 | -0.8% |
| Total equity and liabilities | 10/49 | €283,791 | €325,701 | +€41,909 | +14.8% |
| Equity | 10/15 | €272,120 | €297,572 | +€25,453 | +9.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €259,720 | €285,172 | +€25,453 | +9.8% |
| Distributable reserves | 133 | €259,720 | €285,172 | +€25,453 | +9.8% |
| Amounts payable | 17/49 | €11,671 | €28,128 | +€16,457 | +141% |
| Amounts payable within one year | 42/48 | €11,671 | €28,128 | +€16,457 | +141% |
| Trade debts | 44 | €1,513 | €2,714 | +€1,201 | +79.4% |
| Suppliers | 440/4 | €1,513 | €2,714 | +€1,201 | +79.4% |
| Taxes, remuneration and social security | 45 | €6,442 | €8,756 | +€2,313 | +35.9% |
| Taxes | 450/3 | €6,442 | €8,756 | +€2,313 | +35.9% |
| Other amounts payable | 47/48 | €3,716 | €16,658 | +€12,942 | +348% |
| Non-recurring operating income | 76A | €2,094 | €167 | -€1,928 | -92.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,018 | €10,569 | +€3,551 | +50.6% |
| Other operating charges | 640/8 | €6,052 | €799 | -€5,253 | -86.8% |
| Gross operating margin | 9900 | €140,417 | €77,581 | -€62,836 | -44.7% |
| Operating profit (loss) | 9901 | €127,347 | €66,213 | -€61,133 | -48.0% |
| Financial income | 75/76B | €2,996 | €0 | -€2,995 | -100.0% |
| Recurring financial income | 75 | €2,996 | €0 | -€2,995 | -100.0% |
| Financial charges | 65/66B | €340 | €372 | +€32 | +9.4% |
| Recurring financial charges | 65 | €340 | €372 | +€32 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €130,002 | €65,841 | -€64,161 | -49.4% |
| Income taxes | 67/77 | €44,175 | €23,730 | -€20,445 | -46.3% |
| Profit (loss) for the period | 9904 | €85,827 | €42,111 | -€43,716 | -50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €85,827 | €42,111 | -€43,716 | -50.9% |
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 24 October 2026 via checked.be.