JMV: 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.
JMV
Largest movements
- Receivables within one year +€46,248
up €46,248 (+39.8%), from €116,297 to €162,546
of which Other amounts receivable: +€30,183
- Stocks and contracts -€25,520
down €25,520 (-45.0%), from €56,765 to €31,245
of which Contracts in progress: -€26,321
- Tangible fixed assets +€16,120
up €16,120 (+8.6%), from €187,698 to €203,818
of which Plant, machinery and equipment: +€42,965
- Cash +€14,257
up €14,257 (+40.7%), from €35,052 to €49,310
mainly Net result for the year (+€45,818) and Depreciation (+€30,897)
- Reserves +€44,985
up €44,985 (+18.1%), from €248,382 to €293,367
- Debts after one year -€20,694
down €20,694 (-50.7%), from €40,840 to €20,146
- Current portion of long-term debt +€13,836
up €13,836 (+65.7%), from €21,046 to €34,882
- Trade debts +€10,785
up €10,785 (+19.2%), from €56,263 to €67,048
- Other operating charges +€6,829
up €6,829 (+248.6%), from €2,747 to €9,576
- Gross operating margin +€6,001
up €6,001 (+5.8%), from €102,838 to €108,839
- Financial charges -€2,501
down €2,501 (-56.9%), from €4,393 to €1,892
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 | €399,258 | €450,576 | +€51,318 | +12.9% |
| Fixed assets | 21/28 | €187,698 | €203,818 | +€16,120 | +8.6% |
| Tangible fixed assets | 22/27 | €187,698 | €203,818 | +€16,120 | +8.6% |
| Land and buildings | 22 | €138,737 | €129,234 | -€9,503 | -6.8% |
| Plant, machinery and equipment | 23 | €6,613 | €49,578 | +€42,965 | +649.7% |
| Furniture and vehicles | 24 | €42,347 | €25,005 | -€17,342 | -41.0% |
| Current assets | 29/58 | €211,560 | €246,758 | +€35,198 | +16.6% |
| Stocks and contracts in progress | 3 | €56,765 | €31,245 | -€25,520 | -45.0% |
| Stocks | 30/36 | €18,865 | €19,666 | +€801 | +4.2% |
| Contracts in progress | 37 | €37,900 | €11,579 | -€26,321 | -69.4% |
| Amounts receivable within one year | 40/41 | €116,297 | €162,546 | +€46,248 | +39.8% |
| Trade receivables | 40 | €109,401 | €125,466 | +€16,065 | +14.7% |
| Other amounts receivable | 41 | €6,896 | €37,079 | +€30,183 | +437.7% |
| Cash at bank and in hand | 54/58 | €35,052 | €49,310 | +€14,257 | +40.7% |
| Deferred charges and accrued income | 490/1 | €3,445 | €3,658 | +€212 | +6.2% |
| Total equity and liabilities | 10/49 | €399,258 | €450,576 | +€51,318 | +12.9% |
| Equity | 10/15 | €266,982 | €311,967 | +€44,985 | +16.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €248,382 | €293,367 | +€44,985 | +18.1% |
| Distributable reserves | 133 | €248,382 | €293,367 | +€44,985 | +18.1% |
| Amounts payable | 17/49 | €132,276 | €138,609 | +€6,333 | +4.8% |
| Amounts payable after more than one year | 17 | €40,840 | €20,146 | -€20,694 | -50.7% |
| Financial debts | 170/4 | €40,840 | €20,146 | -€20,694 | -50.7% |
| Amounts payable within one year | 42/48 | €90,766 | €118,463 | +€27,697 | +30.5% |
| Current portion of amounts payable after more than one year | 42 | €21,046 | €34,882 | +€13,836 | +65.7% |
| Trade debts | 44 | €56,263 | €67,048 | +€10,785 | +19.2% |
| Suppliers | 440/4 | €56,263 | €67,048 | +€10,785 | +19.2% |
| Taxes, remuneration and social security | 45 | €11,761 | €15,701 | +€3,940 | +33.5% |
| Taxes | 450/3 | €11,761 | €15,701 | +€3,940 | +33.5% |
| Other amounts payable | 47/48 | €1,697 | €833 | -€864 | -50.9% |
| Accrued charges and deferred income | 492/3 | €669 | - | -€669 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,550 | €30,897 | -€653 | -2.1% |
| Other operating charges | 640/8 | €2,747 | €9,576 | +€6,829 | +248.6% |
| Gross operating margin | 9900 | €102,838 | €108,839 | +€6,001 | +5.8% |
| Operating profit (loss) | 9901 | €68,542 | €68,367 | -€175 | -0.3% |
| Financial income | 75/76B | €129 | €809 | +€681 | +528.7% |
| Recurring financial income | 75 | €129 | €809 | +€681 | +528.7% |
| Financial charges | 65/66B | €4,393 | €1,892 | -€2,501 | -56.9% |
| Recurring financial charges | 65 | €4,393 | €1,892 | -€2,501 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €64,277 | €67,284 | +€3,007 | +4.7% |
| Income taxes | 67/77 | €21,474 | €21,466 | -€8 | 0.0% |
| Profit (loss) for the period | 9904 | €42,804 | €45,818 | +€3,014 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,804 | €45,818 | +€3,014 | +7.0% |
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 12 October 2026 via checked.be.