JMVNA: 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.
JMVNA
Largest movements
- Tangible fixed assets -€149,704
down €149,704 (-9.8%), from €1.5m to €1.4m
- Cash -€81,502
down €81,502 (-49.9%), from €163,369 to €81,867
mainly Debts after one year (-€481,590) and Contributions, distributions and other (-€67,539)
- Receivables within one year +€25,138
up €25,138 (+8.5%), from €295,728 to €320,865
of which Other amounts receivable: +€53,728
- Debts after one year -€481,590
down €481,590 (-63.0%), from €764,454 to €282,864
- Current portion of long-term debt +€254,806
up €254,806 (+145.4%), from €175,255 to €430,061
- Reserves +€73,029
up €73,029 (+8.2%), from €895,315 to €968,344
of which Distributable reserves: +€73,854
- Short-term financial debts -€25,174
down €25,174 (-71.3%), from €35,283 to €10,109
- Tax, wage and social debts -€20,271
down €20,271 (-23.4%), from €86,610 to €66,339
- Gross operating margin -€111,760
down €111,760 (-24.9%), from €448,136 to €336,377
- Taxes -€24,980
down €24,980 (-24.9%), from €100,481 to €75,500
- Depreciation -€18,875
down €18,875 (-18.6%), from €101,533 to €82,657
- Other operating charges +€17,663
up €17,663 (+142.3%), from €12,414 to €30,078
- Financial charges -€4,927
down €4,927 (-19.0%), from €25,950 to €21,023
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 | €1,997,083 | €1,800,990 | -€196,093 | -9.8% |
| Fixed assets | 21/28 | €1,531,717 | €1,392,014 | -€139,704 | -9.1% |
| Tangible fixed assets | 22/27 | €1,531,692 | €1,381,989 | -€149,704 | -9.8% |
| Land and buildings | 22 | €1,397,421 | €1,333,576 | -€63,846 | -4.6% |
| Plant, machinery and equipment | 23 | €1,320 | €970 | -€350 | -26.5% |
| Furniture and vehicles | 24 | €65,904 | €47,442 | -€18,462 | -28.0% |
| Other tangible fixed assets | 26 | €67,046 | €0 | -€67,046 | -100.0% |
| Financial fixed assets | 28 | €25 | €10,025 | +€10,000 | +40000.0% |
| Current assets | 29/58 | €465,366 | €408,976 | -€56,390 | -12.1% |
| Amounts receivable within one year | 40/41 | €295,728 | €320,865 | +€25,138 | +8.5% |
| Trade receivables | 40 | €31,000 | €2,410 | -€28,590 | -92.2% |
| Other amounts receivable | 41 | €264,728 | €318,455 | +€53,728 | +20.3% |
| Cash at bank and in hand | 54/58 | €163,369 | €81,867 | -€81,502 | -49.9% |
| Deferred charges and accrued income | 490/1 | €6,269 | €6,245 | -€25 | -0.4% |
| Total equity and liabilities | 10/49 | €1,997,083 | €1,800,990 | -€196,093 | -9.8% |
| Equity | 10/15 | €933,185 | €1,006,214 | +€73,029 | +7.8% |
| Revaluation surpluses | 12 | €37,870 | €37,870 | = | 0.0% |
| Reserves | 13 | €895,315 | €968,344 | +€73,029 | +8.2% |
| Tax-exempt reserves | 132 | €16,702 | €15,877 | -€824 | -4.9% |
| Distributable reserves | 133 | €878,614 | €952,467 | +€73,854 | +8.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,063,898 | €794,776 | -€269,122 | -25.3% |
| Amounts payable after more than one year | 17 | €764,454 | €282,864 | -€481,590 | -63.0% |
| Financial debts | 170/4 | €764,454 | €282,864 | -€481,590 | -63.0% |
| Amounts payable within one year | 42/48 | €298,884 | €511,877 | +€212,992 | +71.3% |
| Current portion of amounts payable after more than one year | 42 | €175,255 | €430,061 | +€254,806 | +145.4% |
| Financial debts | 43 | €35,283 | €10,109 | -€25,174 | -71.3% |
| Credit institutions | 430/8 | €35,283 | €10,109 | -€25,174 | -71.3% |
| Trade debts | 44 | €1,736 | €5,367 | +€3,631 | +209.2% |
| Suppliers | 440/4 | €1,736 | €5,367 | +€3,631 | +209.2% |
| Taxes, remuneration and social security | 45 | €86,610 | €66,339 | -€20,271 | -23.4% |
| Taxes | 450/3 | €86,610 | €66,339 | -€20,271 | -23.4% |
| Accrued charges and deferred income | 492/3 | €560 | €35 | -€524 | -93.7% |
| Non-recurring operating income | 76A | - | €27,500 | +€27,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,533 | €82,657 | -€18,875 | -18.6% |
| Other operating charges | 640/8 | €12,414 | €30,078 | +€17,663 | +142.3% |
| Non-recurring operating charges | 66A | - | €572 | +€572 | |
| Gross operating margin | 9900 | €448,136 | €336,377 | -€111,760 | -24.9% |
| Operating profit (loss) | 9901 | €334,189 | €223,070 | -€111,120 | -33.3% |
| Financial income | 75/76B | €9,773 | €14,022 | +€4,249 | +43.5% |
| Recurring financial income | 75 | €9,773 | €14,022 | +€4,249 | +43.5% |
| Financial charges | 65/66B | €25,950 | €21,023 | -€4,927 | -19.0% |
| Recurring financial charges | 65 | €25,950 | €21,023 | -€4,927 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €318,012 | €216,069 | -€101,944 | -32.1% |
| Income taxes | 67/77 | €100,481 | €75,500 | -€24,980 | -24.9% |
| Profit (loss) for the period | 9904 | €217,531 | €140,568 | -€76,963 | -35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €217,531 | €140,568 | -€76,963 | -35.4% |
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 10 October 2026 via checked.be.