JSM CAPITAL: 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.
JSM CAPITAL
Largest movements
- Receivables within one year -€23,762
down €23,762 (-72.3%), from €32,862 to €9,100
of which Trade receivables: -€23,731
- Cash -€2,626
down €2,626 (-26.5%), from €9,904 to €7,279
mainly Net result for the year (-€14,881) and Tax, wage and social debts (-€6,657)
- Deferred charges and accrued income -€631
no longer reported in 2025 (was €631)
- Profit (loss) carried forward -€18,381
down €18,381 (-70.5%), from €26,087 to €7,706
- Tax, wage and social debts -€6,657
down €6,657 (-56.1%), from €11,859 to €5,202
of which Remuneration and social security: -€6,000
- Trade debts -€2,367
down €2,367 (-94.7%), from €2,500 to €133
- Gross operating margin -€31,285
down €31,285, from €16,584 to -€14,702
- Taxes -€4,801
no longer reported in 2025 (was €4,801)
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 | €43,398 | €16,379 | -€27,019 | -62.3% |
| Current assets | 29/58 | €43,398 | €16,379 | -€27,019 | -62.3% |
| Amounts receivable within one year | 40/41 | €32,862 | €9,100 | -€23,762 | -72.3% |
| Trade receivables | 40 | €32,831 | €9,100 | -€23,731 | -72.3% |
| Other amounts receivable | 41 | €31 | - | -€31 | |
| Cash at bank and in hand | 54/58 | €9,904 | €7,279 | -€2,626 | -26.5% |
| Deferred charges and accrued income | 490/1 | €631 | - | -€631 | |
| Total equity and liabilities | 10/49 | €43,398 | €16,379 | -€27,019 | -62.3% |
| Equity | 10/15 | €28,587 | €10,206 | -€18,381 | -64.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,087 | €7,706 | -€18,381 | -70.5% |
| Amounts payable | 17/49 | €14,811 | €6,173 | -€8,638 | -58.3% |
| Amounts payable within one year | 42/48 | €14,811 | €6,173 | -€8,638 | -58.3% |
| Trade debts | 44 | €2,500 | €133 | -€2,367 | -94.7% |
| Suppliers | 440/4 | €2,500 | €133 | -€2,367 | -94.7% |
| Taxes, remuneration and social security | 45 | €11,859 | €5,202 | -€6,657 | -56.1% |
| Taxes | 450/3 | €5,859 | €5,202 | -€657 | -11.2% |
| Remuneration and social security | 454/9 | €6,000 | - | -€6,000 | |
| Other amounts payable | 47/48 | €453 | €838 | +€385 | +85.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Gross operating margin | 9900 | €16,584 | -€14,702 | -€31,285 | |
| Operating profit (loss) | 9901 | €16,584 | -€14,702 | -€31,285 | |
| Financial charges | 65/66B | €29 | €180 | +€151 | +530% |
| Recurring financial charges | 65 | €29 | €180 | +€151 | +530% |
| Profit (loss) for the period before taxes | 9903 | €16,555 | -€14,881 | -€31,437 | |
| Income taxes | 67/77 | €4,801 | - | -€4,801 | |
| Profit (loss) for the period | 9904 | €11,755 | -€14,881 | -€26,636 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,755 | -€14,881 | -€26,636 |
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 27 October 2026 via checked.be.