JTML: 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.
JTML
Largest movements
- Receivables within one year -€588,021
down €588,021 (-43.2%), from €1.4m to €773,072
of which Trade receivables: -€613,000
- Current portion of long-term debt -€305,089
down €305,089 (-74.8%), from €407,722 to €102,633
- Profit (loss) carried forward -€142,478
down €142,478, from €0 to -€142,478
- Debts after one year -€97,488
down €97,488 (-6.3%), from €1.5m to €1.4m
- Trade debts -€52,981
down €52,981 (-30.0%), from €176,665 to €123,684
- Gross operating margin -€59,242
down €59,242 (-25.3%), from €233,937 to €174,696
- Taxes -€27,450
down €27,450 (-98.9%), from €27,769 to €319
- Staff costs -€12,907
down €12,907 (-26.5%), from €48,750 to €35,843
- Financial income -€12,300
down €12,300 (-100%), from €12,300 to €0
- Financial charges -€10,717
down €10,717 (-26.8%), from €39,946 to €29,228
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 | €3,423,652 | €2,824,391 | -€599,261 | -17.5% |
| Fixed assets | 21/28 | €2,000,000 | €2,000,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,000,000 | €2,000,000 | = | 0.0% |
| Current assets | 29/58 | €1,423,652 | €824,391 | -€599,261 | -42.1% |
| Amounts receivable within one year | 40/41 | €1,361,093 | €773,072 | -€588,021 | -43.2% |
| Trade receivables | 40 | €733,691 | €120,691 | -€613,000 | -83.6% |
| Other amounts receivable | 41 | €627,403 | €652,381 | +€24,979 | +4.0% |
| Cash at bank and in hand | 54/58 | €61,509 | €50,447 | -€11,062 | -18.0% |
| Deferred charges and accrued income | 490/1 | €1,050 | €873 | -€177 | -16.9% |
| Total equity and liabilities | 10/49 | €3,423,652 | €2,824,391 | -€599,261 | -17.5% |
| Equity | 10/15 | €895,749 | €753,271 | -€142,478 | -15.9% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €145,749 | €145,749 | = | 0.0% |
| Distributable reserves | 133 | €145,749 | €145,749 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€142,478 | -€142,478 | |
| Amounts payable | 17/49 | €2,527,903 | €2,071,120 | -€456,783 | -18.1% |
| Amounts payable after more than one year | 17 | €1,542,000 | €1,444,513 | -€97,488 | -6.3% |
| Financial debts | 170/4 | €1,542,000 | €1,444,513 | -€97,488 | -6.3% |
| Amounts payable within one year | 42/48 | €651,612 | €292,329 | -€359,283 | -55.1% |
| Current portion of amounts payable after more than one year | 42 | €407,722 | €102,633 | -€305,089 | -74.8% |
| Trade debts | 44 | €176,665 | €123,684 | -€52,981 | -30.0% |
| Suppliers | 440/4 | €176,665 | €123,684 | -€52,981 | -30.0% |
| Taxes, remuneration and social security | 45 | €67,225 | €66,013 | -€1,212 | -1.8% |
| Taxes | 450/3 | €54,966 | €58,516 | +€3,550 | +6.5% |
| Remuneration and social security | 454/9 | €12,259 | €7,497 | -€4,762 | -38.8% |
| Accrued charges and deferred income | 492/3 | €334,290 | €334,278 | -€12 | 0.0% |
| Remuneration, social security and pensions | 62 | €48,750 | €35,843 | -€12,907 | -26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €852 | €1,784 | +€933 | +110% |
| Non-recurring operating charges | 66A | - | €250,000 | +€250,000 | |
| Gross operating margin | 9900 | €233,937 | €174,696 | -€59,242 | -25.3% |
| Operating profit (loss) | 9901 | €184,336 | -€112,931 | -€297,267 | |
| Financial income | 75/76B | €12,300 | €0 | -€12,300 | -100% |
| Recurring financial income | 75 | €12,300 | €0 | -€12,300 | -100% |
| Financial charges | 65/66B | €39,946 | €29,228 | -€10,717 | -26.8% |
| Recurring financial charges | 65 | €39,946 | €29,228 | -€10,717 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €156,691 | -€142,159 | -€298,850 | |
| Income taxes | 67/77 | €27,769 | €319 | -€27,450 | -98.9% |
| Profit (loss) for the period | 9904 | €128,921 | -€142,478 | -€271,400 | |
| Profit (loss) for the period to be appropriated | 9905 | €128,921 | -€142,478 | -€271,400 |
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 31 October 2026 via checked.be.