JPM-EVP: 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-EVP
Largest movements
- Stocks and contracts -€696,427
down €696,427 (-44.2%), from €1.6m to €878,413
- Financial fixed assets +€421,569
up €421,569 (+2,626%), from €16,053 to €437,623
- Cash +€305,227
up €305,227 (+112%), from €271,328 to €576,556
mainly Stocks and contracts (+€696,427) and Provisions (+€421,569)
- Tangible fixed assets +€29,140
up €29,140 (+4.0%), from €727,926 to €757,065
of which Leasing and similar rights: +€68,047
- Short-term financial debts -€490,223
down €490,223 (-51.8%), from €946,567 to €456,344
- Provisions +€421,569
new in 2025: €421,569
- Other debts +€222,200
up €222,200 (+72.9%), from €304,741 to €526,942
- Reserves -€110,000
down €110,000 (-12.8%), from €857,813 to €747,813
- Profit (loss) carried forward -€84,760
down €84,760, from €60,163 to -€24,596
- Provisions +€421,569
new in 2025: €421,569
- Gross operating margin +€288,315
up €288,315 (+165%), from €174,423 to €462,738
- Depreciation +€7,041
up €7,041 (+13.1%), from €53,858 to €60,899
- Financial charges -€5,957
down €5,957 (-11.3%), from €52,716 to €46,758
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.
Derived cash bridge
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 | €2,641,782 | €2,672,588 | +€30,806 | +1.2% |
| Fixed assets | 21/28 | €743,979 | €1,194,688 | +€450,709 | +60.6% |
| Tangible fixed assets | 22/27 | €727,926 | €757,065 | +€29,140 | +4.0% |
| Land and buildings | 22 | €712,813 | €681,442 | -€31,371 | -4.4% |
| Plant, machinery and equipment | 23 | €10,899 | €7,175 | -€3,724 | -34.2% |
| Furniture and vehicles | 24 | €4,214 | €402 | -€3,812 | -90.4% |
| Leasing and similar rights | 25 | - | €68,047 | +€68,047 | |
| Financial fixed assets | 28 | €16,053 | €437,623 | +€421,569 | +2,626% |
| Current assets | 29/58 | €1,897,803 | €1,477,900 | -€419,904 | -22.1% |
| Amounts receivable after more than one year | 29 | €2,584 | - | -€2,584 | |
| Trade receivables | 290 | €2,584 | - | -€2,584 | |
| Stocks and contracts in progress | 3 | €1,574,840 | €878,413 | -€696,427 | -44.2% |
| Stocks | 30/36 | €1,574,840 | €878,413 | -€696,427 | -44.2% |
| Amounts receivable within one year | 40/41 | €25,067 | €16,228 | -€8,839 | -35.3% |
| Trade receivables | 40 | €18,570 | €8,613 | -€9,957 | -53.6% |
| Other amounts receivable | 41 | €6,498 | €7,615 | +€1,118 | +17.2% |
| Cash at bank and in hand | 54/58 | €271,328 | €576,556 | +€305,227 | +112% |
| Deferred charges and accrued income | 490/1 | €23,984 | €6,703 | -€17,281 | -72.1% |
| Total equity and liabilities | 10/49 | €2,641,782 | €2,672,588 | +€30,806 | +1.2% |
| Equity | 10/15 | €1,086,568 | €891,809 | -€194,760 | -17.9% |
| Contributions | 10/11 | €168,592 | €168,592 | = | 0.0% |
| Reserves | 13 | €857,813 | €747,813 | -€110,000 | -12.8% |
| Distributable reserves | 133 | €857,813 | €747,813 | -€110,000 | -12.8% |
| Profit (loss) carried forward | 14 | €60,163 | -€24,596 | -€84,760 | |
| Provisions and deferred taxes | 16 | - | €421,569 | +€421,569 | |
| Provisions for liabilities and charges | 160/5 | - | €421,569 | +€421,569 | |
| Environmental obligations | 163 | - | €421,569 | +€421,569 | |
| Amounts payable | 17/49 | €1,555,214 | €1,359,210 | -€196,004 | -12.6% |
| Amounts payable after more than one year | 17 | €171,582 | €199,683 | +€28,102 | +16.4% |
| Financial debts | 170/4 | €171,582 | €199,683 | +€28,102 | +16.4% |
| Amounts payable within one year | 42/48 | €1,381,606 | €1,157,490 | -€224,116 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €98,259 | €79,941 | -€18,319 | -18.6% |
| Financial debts | 43 | €946,567 | €456,344 | -€490,223 | -51.8% |
| Credit institutions | 430/8 | €946,567 | €456,344 | -€490,223 | -51.8% |
| Trade debts | 44 | €8,259 | €73,328 | +€65,070 | +788% |
| Suppliers | 440/4 | €8,259 | €73,328 | +€65,070 | +788% |
| Taxes, remuneration and social security | 45 | €23,780 | €20,936 | -€2,844 | -12.0% |
| Taxes | 450/3 | €23,780 | €20,936 | -€2,844 | -12.0% |
| Other amounts payable | 47/48 | €304,741 | €526,942 | +€222,200 | +72.9% |
| Accrued charges and deferred income | 492/3 | €2,026 | €2,036 | +€10 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,858 | €60,899 | +€7,041 | +13.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €421,569 | +€421,569 | |
| Other operating charges | 640/8 | €22,342 | €18,339 | -€4,002 | -17.9% |
| Gross operating margin | 9900 | €174,423 | €462,738 | +€288,315 | +165% |
| Operating profit (loss) | 9901 | €98,223 | -€38,070 | -€136,293 | |
| Financial income | 75/76B | €222 | €68 | -€154 | -69.3% |
| Recurring financial income | 75 | €222 | €68 | -€154 | -69.3% |
| Financial charges | 65/66B | €52,716 | €46,758 | -€5,957 | -11.3% |
| Recurring financial charges | 65 | €52,716 | €46,758 | -€5,957 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €45,730 | -€84,760 | -€130,490 | |
| Income taxes | 67/77 | €3,785 | - | -€3,785 | |
| Profit (loss) for the period | 9904 | €41,945 | -€84,760 | -€126,705 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,945 | -€84,760 | -€126,705 |
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 13 October 2026 via checked.be.