JMS: 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.
JMS
Largest movements
- Receivables within one year +€284,083
up €284,083 (+52.4%), from €542,604 to €826,687
of which Other amounts receivable: +€229,441
- Cash -€176,872
down €176,872 (-73.7%), from €239,847 to €62,975
mainly Receivables within one year (-€284,083) and Investment in fixed assets (net) (-€262,161)
- Tangible fixed assets +€147,622
up €147,622 (+57.4%), from €257,082 to €404,704
of which Plant, machinery and equipment: +€211,853
- Deferred charges and accrued income -€13,180
down €13,180 (-100.0%), from €13,180 to €0
- Trade debts +€163,179
up €163,179 (+42.4%), from €384,730 to €547,908
- Accrued charges and deferred income +€73,750
new in 2025: €73,750
- Tax, wage and social debts +€73,090
up €73,090 (+34.1%), from €214,298 to €287,388
of which Remuneration and social security: +€90,110
- Debts after one year -€59,511
down €59,511 (-100.0%), from €59,511 to €0
- Short-term financial debts +€26,409
up €26,409 (+23.1%), from €114,378 to €140,787
- Staff costs +€853,857
up €853,857 (+69.6%), from €1.2m to €2.1m
- Gross operating margin +€810,022
up €810,022 (+58.1%), from €1.4m to €2.2m
- Depreciation +€25,566
up €25,566 (+28.7%), from €88,973 to €114,539
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 | €1,053,134 | €1,294,787 | +€241,653 | +22.9% |
| Fixed assets | 21/28 | €257,502 | €405,124 | +€147,622 | +57.3% |
| Tangible fixed assets | 22/27 | €257,082 | €404,704 | +€147,622 | +57.4% |
| Plant, machinery and equipment | 23 | €65,967 | €277,820 | +€211,853 | +321.1% |
| Furniture and vehicles | 24 | €191,115 | €126,885 | -€64,231 | -33.6% |
| Financial fixed assets | 28 | €420 | €420 | = | 0.0% |
| Current assets | 29/58 | €795,631 | €889,662 | +€94,031 | +11.8% |
| Amounts receivable within one year | 40/41 | €542,604 | €826,687 | +€284,083 | +52.4% |
| Trade receivables | 40 | €542,604 | €597,246 | +€54,642 | +10.1% |
| Other amounts receivable | 41 | €0 | €229,441 | +€229,441 | |
| Cash at bank and in hand | 54/58 | €239,847 | €62,975 | -€176,872 | -73.7% |
| Deferred charges and accrued income | 490/1 | €13,180 | €0 | -€13,180 | -100.0% |
| Total equity and liabilities | 10/49 | €1,053,134 | €1,294,787 | +€241,653 | +22.9% |
| Equity | 10/15 | €202,835 | €185,443 | -€17,392 | -8.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €135,185 | €117,793 | -€17,392 | -12.9% |
| Amounts payable | 17/49 | €850,298 | €1,109,344 | +€259,045 | +30.5% |
| Amounts payable after more than one year | 17 | €59,511 | €0 | -€59,511 | -100.0% |
| Financial debts | 170/4 | €59,511 | €0 | -€59,511 | -100.0% |
| Amounts payable within one year | 42/48 | €790,788 | €1,035,594 | +€244,806 | +31.0% |
| Current portion of amounts payable after more than one year | 42 | €58,643 | €59,511 | +€868 | +1.5% |
| Financial debts | 43 | €114,378 | €140,787 | +€26,409 | +23.1% |
| Credit institutions | 430/8 | €114,378 | €140,787 | +€26,409 | +23.1% |
| Trade debts | 44 | €384,730 | €547,908 | +€163,179 | +42.4% |
| Suppliers | 440/4 | €384,730 | €547,908 | +€163,179 | +42.4% |
| Taxes, remuneration and social security | 45 | €214,298 | €287,388 | +€73,090 | +34.1% |
| Taxes | 450/3 | €59,198 | €42,177 | -€17,020 | -28.8% |
| Remuneration and social security | 454/9 | €155,100 | €245,211 | +€90,110 | +58.1% |
| Other amounts payable | 47/48 | €18,739 | €0 | -€18,739 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €73,750 | +€73,750 | |
| Remuneration, social security and pensions | 62 | €1,226,818 | €2,080,675 | +€853,857 | +69.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,973 | €114,539 | +€25,566 | +28.7% |
| Other operating charges | 640/8 | €2,344 | €1,512 | -€832 | -35.5% |
| Non-recurring operating charges | 66A | €30,327 | €0 | -€30,327 | -100.0% |
| Gross operating margin | 9900 | €1,394,116 | €2,204,139 | +€810,022 | +58.1% |
| Operating profit (loss) | 9901 | €45,655 | €7,413 | -€38,241 | -83.8% |
| Financial income | 75/76B | €1,686 | €2,017 | +€331 | +19.6% |
| Recurring financial income | 75 | €1,686 | €2,017 | +€331 | +19.6% |
| Financial charges | 65/66B | €7,237 | €7,354 | +€116 | +1.6% |
| Recurring financial charges | 65 | €7,237 | €7,354 | +€116 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €40,103 | €2,077 | -€38,027 | -94.8% |
| Income taxes | 67/77 | €21,364 | €19,469 | -€1,895 | -8.9% |
| Profit (loss) for the period | 9904 | €18,739 | -€17,392 | -€36,132 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,739 | -€17,392 | -€36,132 |
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 9 October 2026 via checked.be.