JSMV: 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.
JSMV
Largest movements
- Cash +€15,760
up €15,760 (+38.2%), from €41,228 to €56,988
mainly Net result for the year (+€34,516) and Depreciation (+€6,289)
- Tangible fixed assets +€9,073
up €9,073 (+67.5%), from €13,447 to €22,520
of which Land and buildings: +€8,171
- Current investments +€6,000
up €6,000 (+10.5%), from €57,000 to €63,000
- Receivables within one year -€2,118
down €2,118 (-15.0%), from €14,109 to €11,992
of which Trade receivables: -€2,118
- Deferred charges and accrued income +€1,697
up €1,697 (+52.8%), from €3,214 to €4,911
- Reserves +€34,516
up €34,516 (+57.1%), from €60,403 to €94,919
- Tax, wage and social debts -€4,834
down €4,834 (-43.2%), from €11,183 to €6,349
- Gross operating margin +€16,360
up €16,360 (+41.9%), from €39,067 to €55,427
- Taxes +€2,187
up €2,187 (+27.2%), from €8,042 to €10,229
- Depreciation +€1,265
up €1,265 (+25.2%), from €5,024 to €6,289
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 | €128,997 | €159,410 | +€30,413 | +23.6% |
| Fixed assets | 21/28 | €13,447 | €22,520 | +€9,073 | +67.5% |
| Tangible fixed assets | 22/27 | €13,447 | €22,520 | +€9,073 | +67.5% |
| Land and buildings | 22 | - | €8,171 | +€8,171 | |
| Plant, machinery and equipment | 23 | - | €1,228 | +€1,228 | |
| Furniture and vehicles | 24 | €13,447 | €13,121 | -€326 | -2.4% |
| Current assets | 29/58 | €115,550 | €136,890 | +€21,340 | +18.5% |
| Amounts receivable within one year | 40/41 | €14,109 | €11,992 | -€2,118 | -15.0% |
| Trade receivables | 40 | €12,705 | €10,588 | -€2,118 | -16.7% |
| Other amounts receivable | 41 | €1,404 | €1,404 | = | 0.0% |
| Current investments | 50/53 | €57,000 | €63,000 | +€6,000 | +10.5% |
| Cash at bank and in hand | 54/58 | €41,228 | €56,988 | +€15,760 | +38.2% |
| Deferred charges and accrued income | 490/1 | €3,214 | €4,911 | +€1,697 | +52.8% |
| Total equity and liabilities | 10/49 | €128,997 | €159,410 | +€30,413 | +23.6% |
| Equity | 10/15 | €62,903 | €97,419 | +€34,516 | +54.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €60,403 | €94,919 | +€34,516 | +57.1% |
| Distributable reserves | 133 | €60,403 | €94,919 | +€34,516 | +57.1% |
| Amounts payable | 17/49 | €66,094 | €61,991 | -€4,103 | -6.2% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €16,031 | €11,952 | -€4,079 | -25.4% |
| Trade debts | 44 | €4,848 | €5,603 | +€755 | +15.6% |
| Suppliers | 440/4 | €4,848 | €5,603 | +€755 | +15.6% |
| Taxes, remuneration and social security | 45 | €11,183 | €6,349 | -€4,834 | -43.2% |
| Taxes | 450/3 | €11,183 | €6,349 | -€4,834 | -43.2% |
| Accrued charges and deferred income | 492/3 | €63 | €39 | -€24 | -38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,024 | €6,289 | +€1,265 | +25.2% |
| Other operating charges | 640/8 | €950 | €1,502 | +€552 | +58.1% |
| Gross operating margin | 9900 | €39,067 | €55,427 | +€16,360 | +41.9% |
| Operating profit (loss) | 9901 | €33,093 | €47,636 | +€14,543 | +43.9% |
| Financial income | 75/76B | €1,401 | €1,284 | -€117 | -8.3% |
| Recurring financial income | 75 | €1,401 | €1,284 | -€117 | -8.3% |
| Financial charges | 65/66B | €4,209 | €4,175 | -€33 | -0.8% |
| Recurring financial charges | 65 | €4,209 | €4,175 | -€33 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €30,285 | €44,745 | +€14,460 | +47.7% |
| Income taxes | 67/77 | €8,042 | €10,229 | +€2,187 | +27.2% |
| Profit (loss) for the period | 9904 | €22,244 | €34,516 | +€12,272 | +55.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,244 | €34,516 | +€12,272 | +55.2% |
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 26 October 2026 via checked.be.