JMR Management: 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.
JMR Management
Largest movements
- Current investments +€72,811
up €72,811 (+77.0%), from €94,547 to €167,358
- Receivables after one year +€44,805
new in 2025: €44,805
of which Trade receivables: +€29,875
- Cash +€40,977
up €40,977 (+28.6%), from €143,086 to €184,062
mainly Other debts (+€291,416) and Net result for the year (+€213,089)
- Other debts +€291,416
up €291,416 (+2,666%), from €10,931 to €302,346
- Reserves -€72,625
down €72,625 (-16.3%), from €446,066 to €373,440
of which Distributable reserves: -€177,875
- Debts after one year -€49,385
down €49,385 (-10.9%), from €451,338 to €401,954
of which Other amounts payable: -€25,000
- Short-term financial debts -€20,284
down €20,284 (-100%), from €20,284 to €0
- Provisions -€15,825
down €15,825 (-89.4%), from €17,700 to €1,875
- Taxes +€6,819
up €6,819 (+10.5%), from €64,778 to €71,597
- Gross operating margin +€6,230
up €6,230 (+2.1%), from €298,965 to €305,195
- Financial charges -€3,364
down €3,364 (-22.0%), from €15,304 to €11,940
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 | €1,023,069 | €1,171,777 | +€148,708 | +14.5% |
| Fixed assets | 21/28 | €647,586 | €643,636 | -€3,951 | -0.6% |
| Tangible fixed assets | 22/27 | €37,586 | €33,636 | -€3,951 | -10.5% |
| Furniture and vehicles | 24 | - | €6,249 | +€6,249 | |
| Leasing and similar rights | 25 | €37,586 | €27,386 | -€10,200 | -27.1% |
| Financial fixed assets | 28 | €610,000 | €610,000 | = | 0.0% |
| Current assets | 29/58 | €375,483 | €528,142 | +€152,659 | +40.7% |
| Amounts receivable after more than one year | 29 | - | €44,805 | +€44,805 | |
| Trade receivables | 290 | - | €29,875 | +€29,875 | |
| Other amounts receivable | 291 | - | €14,930 | +€14,930 | |
| Amounts receivable within one year | 40/41 | €137,500 | €131,752 | -€5,748 | -4.2% |
| Trade receivables | 40 | €137,500 | €103,565 | -€33,935 | -24.7% |
| Other amounts receivable | 41 | - | €28,187 | +€28,187 | |
| Current investments | 50/53 | €94,547 | €167,358 | +€72,811 | +77.0% |
| Cash at bank and in hand | 54/58 | €143,086 | €184,062 | +€40,977 | +28.6% |
| Deferred charges and accrued income | 490/1 | €350 | €165 | -€185 | -52.9% |
| Total equity and liabilities | 10/49 | €1,023,069 | €1,171,777 | +€148,708 | +14.5% |
| Equity | 10/15 | €451,066 | €378,440 | -€72,625 | -16.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €446,066 | €373,440 | -€72,625 | -16.3% |
| Tax-exempt reserves | 132 | - | €105,250 | +€105,250 | |
| Distributable reserves | 133 | €446,066 | €268,190 | -€177,875 | -39.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €17,700 | €19,575 | +€1,875 | +10.6% |
| Provisions for liabilities and charges | 160/5 | €17,700 | €19,575 | +€1,875 | +10.6% |
| Other liabilities and charges | 164/5 | €17,700 | €19,575 | +€1,875 | +10.6% |
| Amounts payable | 17/49 | €554,303 | €773,762 | +€219,459 | +39.6% |
| Amounts payable after more than one year | 17 | €451,338 | €401,954 | -€49,385 | -10.9% |
| Financial debts | 170/4 | €80,338 | €55,954 | -€24,385 | -30.4% |
| Other amounts payable | 178/9 | €371,000 | €346,000 | -€25,000 | -6.7% |
| Amounts payable within one year | 42/48 | €94,519 | €363,859 | +€269,339 | +285% |
| Current portion of amounts payable after more than one year | 42 | €48,624 | €49,385 | +€761 | +1.6% |
| Financial debts | 43 | €20,284 | €0 | -€20,284 | -100% |
| Credit institutions | 430/8 | €20,284 | €0 | -€20,284 | -100% |
| Trade debts | 44 | €0 | €371 | +€371 | |
| Suppliers | 440/4 | €0 | €371 | +€371 | |
| Taxes, remuneration and social security | 45 | €14,681 | €11,757 | -€2,924 | -19.9% |
| Taxes | 450/3 | €12,531 | €10,407 | -€2,124 | -16.9% |
| Remuneration and social security | 454/9 | €2,150 | €1,350 | -€800 | -37.2% |
| Other amounts payable | 47/48 | €10,931 | €302,346 | +€291,416 | +2,666% |
| Accrued charges and deferred income | 492/3 | €8,446 | €7,950 | -€496 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,200 | €11,631 | +€1,431 | +14.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €17,700 | €1,875 | -€15,825 | -89.4% |
| Other operating charges | 640/8 | €1,785 | €3,052 | +€1,267 | +70.9% |
| Gross operating margin | 9900 | €298,965 | €305,195 | +€6,230 | +2.1% |
| Operating profit (loss) | 9901 | €269,280 | €288,638 | +€19,358 | +7.2% |
| Financial income | 75/76B | €7,776 | €7,988 | +€212 | +2.7% |
| Recurring financial income | 75 | €7,776 | €7,988 | +€212 | +2.7% |
| Financial charges | 65/66B | €15,304 | €11,940 | -€3,364 | -22.0% |
| Recurring financial charges | 65 | €15,304 | €11,940 | -€3,364 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €261,752 | €284,686 | +€22,933 | +8.8% |
| Income taxes | 67/77 | €64,778 | €71,597 | +€6,819 | +10.5% |
| Profit (loss) for the period | 9904 | €196,974 | €213,089 | +€16,114 | +8.2% |
| Transfer to tax-exempt reserves | 689 | - | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €196,974 | €107,839 | -€89,136 | -45.3% |
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 31 October 2026 via checked.be.