M.A. JAMES: 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.
M.A. JAMES
Largest movements
- Cash -€80,457
down €80,457 (-42.4%), from €189,930 to €109,472
mainly Trade debts (-€108,908) and Investment in fixed assets (net) (-€37,044)
- Tangible fixed assets +€13,811
up €13,811 (+2.3%), from €589,335 to €603,146
of which Other tangible fixed assets: +€21,795
- Trade debts -€108,908
down €108,908 (-80.4%), from €135,403 to €26,495
- Profit (loss) carried forward +€37,010
up €37,010 (+63.3%), from €58,493 to €95,504
- Debts after one year -€29,661
down €29,661 (-6.1%), from €483,174 to €453,513
- Tax, wage and social debts +€26,600
up €26,600 (+62.3%), from €42,704 to €69,304
of which Remuneration and social security: +€14,200
- Other operating charges -€37,227
down €37,227 (-74.8%), from €49,769 to €12,543
- Gross operating margin +€20,503
up €20,503 (+25.8%), from €79,586 to €100,089
- Depreciation +€11,610
up €11,610 (+99.9%), from €11,624 to €23,233
- Taxes +€9,950
up €9,950 (+409.8%), from €2,428 to €12,379
- Financial charges -€1,173
down €1,173 (-7.3%), from €16,131 to €14,958
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 | €831,302 | €761,482 | -€69,820 | -8.4% |
| Fixed assets | 21/28 | €589,542 | €603,353 | +€13,811 | +2.3% |
| Tangible fixed assets | 22/27 | €589,335 | €603,146 | +€13,811 | +2.3% |
| Land and buildings | 22 | €546,433 | €537,233 | -€9,200 | -1.7% |
| Furniture and vehicles | 24 | - | €1,216 | +€1,216 | |
| Other tangible fixed assets | 26 | €42,901 | €64,696 | +€21,795 | +50.8% |
| Financial fixed assets | 28 | €208 | €208 | = | 0.0% |
| Current assets | 29/58 | €241,760 | €158,128 | -€83,631 | -34.6% |
| Stocks and contracts in progress | 3 | €5,726 | €6,076 | +€350 | +6.1% |
| Stocks | 30/36 | €5,726 | €6,076 | +€350 | +6.1% |
| Amounts receivable within one year | 40/41 | €44,920 | €41,424 | -€3,497 | -7.8% |
| Trade receivables | 40 | €44,216 | €37,244 | -€6,973 | -15.8% |
| Other amounts receivable | 41 | €704 | €4,180 | +€3,476 | +493.5% |
| Cash at bank and in hand | 54/58 | €189,930 | €109,472 | -€80,457 | -42.4% |
| Deferred charges and accrued income | 490/1 | €1,184 | €1,156 | -€28 | -2.3% |
| Total equity and liabilities | 10/49 | €831,302 | €761,482 | -€69,820 | -8.4% |
| Equity | 10/15 | €91,048 | €128,059 | +€37,010 | +40.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,955 | €13,955 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €12,095 | €12,095 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,493 | €95,504 | +€37,010 | +63.3% |
| Amounts payable | 17/49 | €740,254 | €633,423 | -€106,831 | -14.4% |
| Amounts payable after more than one year | 17 | €483,174 | €453,513 | -€29,661 | -6.1% |
| Financial debts | 170/4 | €483,174 | €453,513 | -€29,661 | -6.1% |
| Amounts payable within one year | 42/48 | €257,079 | €179,909 | -€77,170 | -30.0% |
| Current portion of amounts payable after more than one year | 42 | €28,785 | €29,661 | +€876 | +3.0% |
| Trade debts | 44 | €135,403 | €26,495 | -€108,908 | -80.4% |
| Suppliers | 440/4 | €135,403 | €26,495 | -€108,908 | -80.4% |
| Advances received on contracts in progress | 46 | €11,440 | €13,040 | +€1,600 | +14.0% |
| Taxes, remuneration and social security | 45 | €42,704 | €69,304 | +€26,600 | +62.3% |
| Taxes | 450/3 | €12,461 | €24,861 | +€12,400 | +99.5% |
| Remuneration and social security | 454/9 | €30,243 | €44,443 | +€14,200 | +47.0% |
| Other amounts payable | 47/48 | €38,747 | €41,409 | +€2,662 | +6.9% |
| Remuneration, social security and pensions | 62 | €45 | - | -€45 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,624 | €23,233 | +€11,610 | +99.9% |
| Other operating charges | 640/8 | €49,769 | €12,543 | -€37,227 | -74.8% |
| Gross operating margin | 9900 | €79,586 | €100,089 | +€20,503 | +25.8% |
| Operating profit (loss) | 9901 | €18,148 | €64,313 | +€46,165 | +254.4% |
| Financial income | 75/76B | €0 | €35 | +€34 | +10690.6% |
| Recurring financial income | 75 | €0 | €35 | +€34 | +10690.6% |
| Financial charges | 65/66B | €16,131 | €14,958 | -€1,173 | -7.3% |
| Recurring financial charges | 65 | €16,131 | €14,958 | -€1,173 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €2,017 | €49,389 | +€47,372 | +2349.0% |
| Income taxes | 67/77 | €2,428 | €12,379 | +€9,950 | +409.8% |
| Profit (loss) for the period | 9904 | -€412 | €37,010 | +€37,422 | |
| Profit (loss) for the period to be appropriated | 9905 | -€412 | €37,010 | +€37,422 |
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 8 October 2026 via checked.be.