JulMad: 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.
JulMad
Largest movements
- Cash +€171,471
up €171,471 (+278.1%), from €61,662 to €233,133
mainly Net result for the year (+€526,431) and Deferred charges and accrued income (+€7,995)
- Financial fixed assets +€47,000
up €47,000 (+2.0%), from €2.4m to €2.4m
- Reserves +€526,431
up €526,431 (+30.6%), from €1.7m to €2.2m
- Other debts -€164,688
no longer reported in 2024 (was €164,688)
- Debts after one year -€132,604
down €132,604 (-15.2%), from €872,078 to €739,473
- Financial income +€302,935
up €302,935 (+113.7%), from €266,407 to €569,342
- Financial charges +€22,915
up €22,915 (+205.9%), from €11,132 to €34,047
- Gross operating margin +€3,022
up €3,022 (+33.3%), from -€9,073 to -€6,051
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,914,916 | €3,138,628 | +€223,712 | +7.7% |
| Fixed assets | 21/28 | €2,409,928 | €2,454,706 | +€44,778 | +1.9% |
| Tangible fixed assets | 22/27 | €9,764 | €7,542 | -€2,222 | -22.8% |
| Land and buildings | 22 | €8,594 | €7,263 | -€1,331 | -15.5% |
| Plant, machinery and equipment | 23 | €817 | €177 | -€640 | -78.4% |
| Furniture and vehicles | 24 | €353 | €102 | -€251 | -71.1% |
| Financial fixed assets | 28 | €2,400,164 | €2,447,164 | +€47,000 | +2.0% |
| Current assets | 29/58 | €504,989 | €683,922 | +€178,934 | +35.4% |
| Amounts receivable within one year | 40/41 | €425,643 | €441,101 | +€15,458 | +3.6% |
| Other amounts receivable | 41 | €425,643 | €441,101 | +€15,458 | +3.6% |
| Cash at bank and in hand | 54/58 | €61,662 | €233,133 | +€171,471 | +278.1% |
| Deferred charges and accrued income | 490/1 | €17,683 | €9,688 | -€7,995 | -45.2% |
| Total equity and liabilities | 10/49 | €2,914,916 | €3,138,628 | +€223,712 | +7.7% |
| Equity | 10/15 | €1,738,252 | €2,264,683 | +€526,431 | +30.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,719,702 | €2,246,133 | +€526,431 | +30.6% |
| Distributable reserves | 133 | €1,719,702 | €2,246,133 | +€526,431 | +30.6% |
| Amounts payable | 17/49 | €1,176,664 | €873,945 | -€302,719 | -25.7% |
| Amounts payable after more than one year | 17 | €872,078 | €739,473 | -€132,604 | -15.2% |
| Financial debts | 170/4 | €872,078 | €739,473 | -€132,604 | -15.2% |
| Amounts payable within one year | 42/48 | €292,611 | €132,627 | -€159,983 | -54.7% |
| Current portion of amounts payable after more than one year | 42 | €127,923 | €132,604 | +€4,682 | +3.7% |
| Trade debts | 44 | - | €23 | +€23 | |
| Suppliers | 440/4 | - | €23 | +€23 | |
| Other amounts payable | 47/48 | €164,688 | - | -€164,688 | |
| Accrued charges and deferred income | 492/3 | €11,976 | €1,845 | -€10,131 | -84.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,222 | €2,222 | -€1 | 0.0% |
| Other operating charges | 640/8 | €516 | €592 | +€76 | +14.6% |
| Gross operating margin | 9900 | -€9,073 | -€6,051 | +€3,022 | +33.3% |
| Operating profit (loss) | 9901 | -€11,811 | -€8,864 | +€2,947 | +25.0% |
| Financial income | 75/76B | €266,407 | €569,342 | +€302,935 | +113.7% |
| Recurring financial income | 75 | €266,407 | €569,342 | +€302,935 | +113.7% |
| Financial charges | 65/66B | €11,132 | €34,047 | +€22,915 | +205.9% |
| Recurring financial charges | 65 | €11,132 | €34,047 | +€22,915 | +205.9% |
| Profit (loss) for the period before taxes | 9903 | €243,464 | €526,431 | +€282,967 | +116.2% |
| Profit (loss) for the period | 9904 | €243,464 | €526,431 | +€282,967 | +116.2% |
| Profit (loss) for the period to be appropriated | 9905 | €243,464 | €526,431 | +€282,967 | +116.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.