JORMI: 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.
JORMI
Largest movements
- Receivables within one year +€298,069
up €298,069 (+2453.5%), from €12,149 to €310,217
of which Trade receivables: +€257,309
- Tangible fixed assets -€136,804
down €136,804 (-26.3%), from €519,991 to €383,187
of which Land and buildings: -€68,712
- Cash -€43,817
down €43,817 (-20.5%), from €213,672 to €169,855
mainly Receivables within one year (-€298,069) and Other debts (-€50,805)
- Reserves +€203,701
up €203,701 (+99.6%), from €204,551 to €408,252
of which Distributable reserves: +€115,291
- Other debts -€50,805
down €50,805 (-95.5%), from €53,187 to €2,382
- Trade debts -€23,298
down €23,298 (-88.9%), from €26,195 to €2,897
- Current portion of long-term debt -€11,852
down €11,852 (-31.6%), from €37,465 to €25,614
- Depreciation -€33,617
down €33,617 (-58.3%), from €57,710 to €24,093
- Gross operating margin +€16,807
up €16,807 (+5.8%), from €292,232 to €309,039
- Taxes +€13,910
up €13,910 (+29.4%), from €47,392 to €61,302
- Financial charges +€3,789
up €3,789 (+30.9%), from €12,266 to €16,055
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 | €750,922 | €870,658 | +€119,735 | +15.9% |
| Fixed assets | 21/28 | €522,241 | €389,037 | -€133,204 | -25.5% |
| Tangible fixed assets | 22/27 | €519,991 | €383,187 | -€136,804 | -26.3% |
| Land and buildings | 22 | €451,899 | €383,187 | -€68,712 | -15.2% |
| Plant, machinery and equipment | 23 | €58,766 | €0 | -€58,766 | -100.0% |
| Furniture and vehicles | 24 | €3,163 | €0 | -€3,163 | -100.0% |
| Other tangible fixed assets | 26 | €6,163 | €0 | -€6,163 | -100.0% |
| Financial fixed assets | 28 | €2,250 | €5,850 | +€3,600 | +160.0% |
| Current assets | 29/58 | €228,681 | €481,620 | +€252,939 | +110.6% |
| Amounts receivable within one year | 40/41 | €12,149 | €310,217 | +€298,069 | +2453.5% |
| Trade receivables | 40 | €12,149 | €269,457 | +€257,309 | +2118.0% |
| Other amounts receivable | 41 | €0 | €40,760 | +€40,760 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €213,672 | €169,855 | -€43,817 | -20.5% |
| Deferred charges and accrued income | 490/1 | €2,861 | €1,548 | -€1,313 | -45.9% |
| Total equity and liabilities | 10/49 | €750,922 | €870,658 | +€119,735 | +15.9% |
| Equity | 10/15 | €234,551 | €438,252 | +€203,701 | +86.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €204,551 | €408,252 | +€203,701 | +99.6% |
| Tax-exempt reserves | 132 | €71,570 | €159,980 | +€88,410 | +123.5% |
| Distributable reserves | 133 | €132,981 | €248,272 | +€115,291 | +86.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €516,372 | €432,406 | -€83,966 | -16.3% |
| Amounts payable after more than one year | 17 | €379,654 | €384,281 | +€4,626 | +1.2% |
| Financial debts | 170/4 | €379,654 | €384,281 | +€4,626 | +1.2% |
| Amounts payable within one year | 42/48 | €124,874 | €40,991 | -€83,883 | -67.2% |
| Current portion of amounts payable after more than one year | 42 | €37,465 | €25,614 | -€11,852 | -31.6% |
| Financial debts | 43 | €783 | €373 | -€410 | -52.3% |
| Credit institutions | 430/8 | €783 | €373 | -€410 | -52.3% |
| Trade debts | 44 | €26,195 | €2,897 | -€23,298 | -88.9% |
| Suppliers | 440/4 | €26,195 | €2,897 | -€23,298 | -88.9% |
| Advances received on contracts in progress | 46 | €4,786 | €0 | -€4,786 | -100.0% |
| Taxes, remuneration and social security | 45 | €2,458 | €9,725 | +€7,266 | +295.6% |
| Taxes | 450/3 | €2,458 | €9,725 | +€7,266 | +295.6% |
| Other amounts payable | 47/48 | €53,187 | €2,382 | -€50,805 | -95.5% |
| Accrued charges and deferred income | 492/3 | €11,843 | €7,134 | -€4,709 | -39.8% |
| Non-recurring operating income | 76A | €7 | €133,341 | +€133,334 | +1819012.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,710 | €24,093 | -€33,617 | -58.3% |
| Other operating charges | 640/8 | €6,267 | €6,082 | -€184 | -2.9% |
| Gross operating margin | 9900 | €292,232 | €309,039 | +€16,807 | +5.8% |
| Operating profit (loss) | 9901 | €228,255 | €278,863 | +€50,609 | +22.2% |
| Financial income | 75/76B | €1,238 | €2,195 | +€957 | +77.3% |
| Recurring financial income | 75 | €1,238 | €2,195 | +€957 | +77.3% |
| Financial charges | 65/66B | €12,266 | €16,055 | +€3,789 | +30.9% |
| Recurring financial charges | 65 | €12,266 | €16,055 | +€3,789 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | €217,227 | €265,003 | +€47,776 | +22.0% |
| Income taxes | 67/77 | €47,392 | €61,302 | +€13,910 | +29.4% |
| Profit (loss) for the period | 9904 | €169,835 | €203,701 | +€33,866 | +19.9% |
| Transfer to tax-exempt reserves | 689 | €71,570 | €88,410 | +€16,840 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €98,265 | €115,291 | +€17,026 | +17.3% |
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 10 October 2026 via checked.be.