JPM: 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.
JPM
Largest movements
- Receivables after one year -€100,000
down €100,000 (-25.0%), from €400,000 to €300,000
- Cash +€41,140
up €41,140 (+148.8%), from €27,651 to €68,792
mainly Receivables after one year (+€100,000) and Net result for the year (+€46,232)
- Tangible fixed assets -€20,763
down €20,763 (-6.5%), from €317,448 to €296,685
of which Land and buildings: -€14,276
- Other debts -€88,350
down €88,350 (-76.0%), from €116,188 to €27,838
- Debts after one year -€56,299
down €56,299 (-18.5%), from €303,942 to €247,643
- Reserves +€46,232
up €46,232 (+19.7%), from €234,367 to €280,599
- Trade debts +€15,425
up €15,425 (+28.3%), from €54,503 to €69,928
- Tax, wage and social debts -€7,986
down €7,986 (-41.9%), from €19,068 to €11,082
- Gross operating margin +€36,919
up €36,919 (+49.0%), from €75,280 to €112,199
- Financial income -€19,500
down €19,500 (-97.5%), from €20,000 to €500
- Taxes +€7,454
up €7,454 (+53.9%), from €13,820 to €21,274
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 | €794,710 | €708,580 | -€86,129 | -10.8% |
| Fixed assets | 21/28 | €317,448 | €296,685 | -€20,763 | -6.5% |
| Tangible fixed assets | 22/27 | €317,448 | €296,685 | -€20,763 | -6.5% |
| Land and buildings | 22 | €283,711 | €269,435 | -€14,276 | -5.0% |
| Furniture and vehicles | 24 | €5,748 | €3,261 | -€2,487 | -43.3% |
| Other tangible fixed assets | 26 | €27,989 | €23,989 | -€4,000 | -14.3% |
| Current assets | 29/58 | €477,261 | €411,895 | -€65,366 | -13.7% |
| Amounts receivable after more than one year | 29 | €400,000 | €300,000 | -€100,000 | -25.0% |
| Other amounts receivable | 291 | €400,000 | €300,000 | -€100,000 | -25.0% |
| Amounts receivable within one year | 40/41 | €8,594 | €2,310 | -€6,283 | -73.1% |
| Trade receivables | 40 | €7,413 | €1,130 | -€6,283 | -84.8% |
| Other amounts receivable | 41 | €1,180 | €1,180 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €27,651 | €68,792 | +€41,140 | +148.8% |
| Deferred charges and accrued income | 490/1 | €41,016 | €40,793 | -€223 | -0.5% |
| Total equity and liabilities | 10/49 | €794,710 | €708,580 | -€86,129 | -10.8% |
| Equity | 10/15 | €246,767 | €292,999 | +€46,232 | +18.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €234,367 | €280,599 | +€46,232 | +19.7% |
| Distributable reserves | 133 | €234,367 | €280,599 | +€46,232 | +19.7% |
| Amounts payable | 17/49 | €547,942 | €415,581 | -€132,361 | -24.2% |
| Amounts payable after more than one year | 17 | €303,942 | €247,643 | -€56,299 | -18.5% |
| Financial debts | 170/4 | €303,942 | €247,643 | -€56,299 | -18.5% |
| Amounts payable within one year | 42/48 | €244,001 | €167,560 | -€76,441 | -31.3% |
| Current portion of amounts payable after more than one year | 42 | €54,242 | €58,712 | +€4,470 | +8.2% |
| Trade debts | 44 | €54,503 | €69,928 | +€15,425 | +28.3% |
| Suppliers | 440/4 | €54,503 | €69,928 | +€15,425 | +28.3% |
| Taxes, remuneration and social security | 45 | €19,068 | €11,082 | -€7,986 | -41.9% |
| Taxes | 450/3 | €19,068 | €11,082 | -€7,986 | -41.9% |
| Other amounts payable | 47/48 | €116,188 | €27,838 | -€88,350 | -76.0% |
| Accrued charges and deferred income | 492/3 | - | €379 | +€379 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,516 | €23,577 | -€939 | -3.8% |
| Other operating charges | 640/8 | €4,933 | €5,528 | +€595 | +12.1% |
| Gross operating margin | 9900 | €75,280 | €112,199 | +€36,919 | +49.0% |
| Operating profit (loss) | 9901 | €45,832 | €83,094 | +€37,263 | +81.3% |
| Financial income | 75/76B | €20,000 | €500 | -€19,500 | -97.5% |
| Recurring financial income | 75 | €20,000 | €500 | -€19,500 | -97.5% |
| Financial charges | 65/66B | €16,412 | €16,088 | -€324 | -2.0% |
| Recurring financial charges | 65 | €16,412 | €16,088 | -€324 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €49,419 | €67,506 | +€18,087 | +36.6% |
| Income taxes | 67/77 | €13,820 | €21,274 | +€7,454 | +53.9% |
| Profit (loss) for the period | 9904 | €35,600 | €46,232 | +€10,632 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,600 | €46,232 | +€10,632 | +29.9% |
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.