JPM: 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.
JPM
Largest movements
- Cash -€3,373
down €3,373 (-19.2%), from €17,546 to €14,173
mainly Investment in fixed assets (net) (-€3,313) and Tax, wage and social debts (-€2,140)
- Tangible fixed assets +€2,658
up €2,658 (+139.6%), from €1,904 to €4,562
of which Furniture and vehicles: +€3,158
- Receivables within one year +€1,046
up €1,046 (+154.5%), from €677 to €1,723
of which Trade receivables: +€809
- Tax, wage and social debts -€2,140
down €2,140 (-60.9%), from €3,516 to €1,376
- Reserves +€1,171
up €1,171 (+12.8%), from €9,166 to €10,337
- Trade debts +€817
up €817 (+960.9%), from €85 to €902
- Other debts +€483
up €483 (+20.5%), from €2,361 to €2,844
- Gross operating margin -€1,565
down €1,565 (-28.7%), from €5,452 to €3,887
- Taxes -€594
down €594 (-48.1%), from €1,236 to €641
- Other operating charges +€315
up €315 (+135.7%), from €232 to €547
- Depreciation +€155
up €155 (+31.0%), from €500 to €655
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 | €20,128 | €20,459 | +€331 | +1.6% |
| Fixed assets | 21/28 | €1,904 | €4,562 | +€2,658 | +139.6% |
| Tangible fixed assets | 22/27 | €1,904 | €4,562 | +€2,658 | +139.6% |
| Plant, machinery and equipment | 23 | €1,904 | €1,404 | -€500 | -26.3% |
| Furniture and vehicles | 24 | - | €3,158 | +€3,158 | |
| Current assets | 29/58 | €18,224 | €15,897 | -€2,327 | -12.8% |
| Amounts receivable within one year | 40/41 | €677 | €1,723 | +€1,046 | +154.5% |
| Trade receivables | 40 | €677 | €1,486 | +€809 | +119.4% |
| Other amounts receivable | 41 | - | €237 | +€237 | |
| Cash at bank and in hand | 54/58 | €17,546 | €14,173 | -€3,373 | -19.2% |
| Total equity and liabilities | 10/49 | €20,128 | €20,459 | +€331 | +1.6% |
| Equity | 10/15 | €14,166 | €15,337 | +€1,171 | +8.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €9,166 | €10,337 | +€1,171 | +12.8% |
| Distributable reserves | 133 | €9,166 | €10,337 | +€1,171 | +12.8% |
| Amounts payable | 17/49 | €5,962 | €5,122 | -€840 | -14.1% |
| Amounts payable within one year | 42/48 | €5,962 | €5,122 | -€840 | -14.1% |
| Trade debts | 44 | €85 | €902 | +€817 | +960.9% |
| Suppliers | 440/4 | €85 | €902 | +€817 | +960.9% |
| Taxes, remuneration and social security | 45 | €3,516 | €1,376 | -€2,140 | -60.9% |
| Taxes | 450/3 | €3,516 | €1,376 | -€2,140 | -60.9% |
| Other amounts payable | 47/48 | €2,361 | €2,844 | +€483 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €500 | €655 | +€155 | +31.0% |
| Other operating charges | 640/8 | €232 | €547 | +€315 | +135.7% |
| Gross operating margin | 9900 | €5,452 | €3,887 | -€1,565 | -28.7% |
| Operating profit (loss) | 9901 | €4,720 | €2,685 | -€2,035 | -43.1% |
| Financial charges | 65/66B | €72 | €72 | -€0 | -0.3% |
| Recurring financial charges | 65 | €72 | €72 | -€0 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €4,647 | €2,613 | -€2,035 | -43.8% |
| Income taxes | 67/77 | €1,236 | €641 | -€594 | -48.1% |
| Profit (loss) for the period | 9904 | €3,412 | €1,971 | -€1,440 | -42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,412 | €1,971 | -€1,440 | -42.2% |
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 6 October 2026 via checked.be.