JMSDR: 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.
JMSDR
Largest movements
- Tangible fixed assets +€143,028
up €143,028, from €0 to €143,028
of which Land and buildings: +€143,028
- Stocks and contracts +€24,750
up €24,750 (+6.6%), from €376,923 to €401,673
- Cash -€11,960
down €11,960 (-96.5%), from €12,392 to €432
mainly Investment in fixed assets (net) (-€145,438) and Stocks and contracts (-€24,750)
- Other debts +€171,500
up €171,500 (+70.1%), from €244,500 to €416,000
- Profit (loss) carried forward -€13,660
down €13,660 (-62.1%), from -€22,006 to -€35,666
- Gross operating margin -€7,046
down €7,046 (-1689.6%), from -€417 to -€7,463
- Depreciation +€2,039
up €2,039 (+550.7%), from €370 to €2,410
- Other operating charges +€1,347
up €1,347 (+98.9%), from €1,362 to €2,709
- Financial charges -€82
down €82 (-7.1%), from €1,161 to €1,079
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 | €389,743 | €545,627 | +€155,885 | +40.0% |
| Fixed assets | 21/28 | €0 | €143,028 | +€143,028 | |
| Tangible fixed assets | 22/27 | €0 | €143,028 | +€143,028 | |
| Land and buildings | 22 | - | €143,028 | +€143,028 | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Current assets | 29/58 | €389,743 | €402,599 | +€12,857 | +3.3% |
| Stocks and contracts in progress | 3 | €376,923 | €401,673 | +€24,750 | +6.6% |
| Stocks | 30/36 | €376,923 | €401,673 | +€24,750 | +6.6% |
| Amounts receivable within one year | 40/41 | €428 | €188 | -€240 | -56.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €428 | €188 | -€240 | -56.0% |
| Cash at bank and in hand | 54/58 | €12,392 | €432 | -€11,960 | -96.5% |
| Deferred charges and accrued income | 490/1 | - | €307 | +€307 | |
| Total equity and liabilities | 10/49 | €389,743 | €545,627 | +€155,885 | +40.0% |
| Equity | 10/15 | €142,994 | €129,334 | -€13,660 | -9.6% |
| Contributions | 10/11 | €165,000 | €165,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,006 | -€35,666 | -€13,660 | -62.1% |
| Amounts payable | 17/49 | €246,749 | €416,294 | +€169,545 | +68.7% |
| Amounts payable within one year | 42/48 | €246,361 | €416,294 | +€169,932 | +69.0% |
| Trade debts | 44 | €1,861 | €260 | -€1,601 | -86.0% |
| Suppliers | 440/4 | €1,861 | €260 | -€1,601 | -86.0% |
| Taxes, remuneration and social security | 45 | €0 | €33 | +€33 | |
| Taxes | 450/3 | - | €33 | +€33 | |
| Other amounts payable | 47/48 | €244,500 | €416,000 | +€171,500 | +70.1% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €370 | €2,410 | +€2,039 | +550.7% |
| Other operating charges | 640/8 | €1,362 | €2,709 | +€1,347 | +98.9% |
| Gross operating margin | 9900 | -€417 | -€7,463 | -€7,046 | -1689.6% |
| Operating profit (loss) | 9901 | -€2,149 | -€12,581 | -€10,432 | -485.4% |
| Financial charges | 65/66B | €1,161 | €1,079 | -€82 | -7.1% |
| Recurring financial charges | 65 | €1,161 | €1,079 | -€82 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,311 | -€13,660 | -€10,350 | -312.6% |
| Profit (loss) for the period | 9904 | -€3,311 | -€13,660 | -€10,350 | -312.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,311 | -€13,660 | -€10,350 | -312.6% |
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 30 September 2026 via checked.be.