SJMB: 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.
SJMB
Largest movements
- Financial fixed assets +€52,500
up €52,500 (+16.7%), from €314,770 to €367,270
- Current investments +€24,199
up €24,199 (+53.7%), from €45,101 to €69,300
- Tangible fixed assets -€15,547
down €15,547 (-6.0%), from €261,108 to €245,561
of which Land and buildings: -€13,026
- Reserves +€107,506
up €107,506 (+25.4%), from €422,937 to €530,443
- Debts after one year -€56,827
down €56,827 (-51.7%), from €109,852 to €53,025
- Other debts +€42,201
up €42,201 (+119.9%), from €35,206 to €77,407
- Current portion of long-term debt -€14,307
down €14,307 (-20.1%), from €71,134 to €56,827
- Gross operating margin +€34,695
up €34,695 (+15.2%), from €228,635 to €263,330
- Taxes +€10,164
up €10,164 (+15.3%), from €66,310 to €76,474
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.
Cash bridge derived
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 | €785,512 | €851,185 | +€65,674 | +8.4% |
| Fixed assets | 21/28 | €575,878 | €612,831 | +€36,953 | +6.4% |
| Tangible fixed assets | 22/27 | €261,108 | €245,561 | -€15,547 | -6.0% |
| Land and buildings | 22 | €247,973 | €234,947 | -€13,026 | -5.3% |
| Plant, machinery and equipment | 23 | €9,301 | €6,913 | -€2,388 | -25.7% |
| Furniture and vehicles | 24 | €3,834 | €3,701 | -€133 | -3.5% |
| Financial fixed assets | 28 | €314,770 | €367,270 | +€52,500 | +16.7% |
| Current assets | 29/58 | €209,634 | €238,354 | +€28,721 | +13.7% |
| Amounts receivable within one year | 40/41 | €22,173 | €27,605 | +€5,431 | +24.5% |
| Trade receivables | 40 | €21,746 | €27,395 | +€5,649 | +26.0% |
| Other amounts receivable | 41 | €427 | €210 | -€217 | -50.9% |
| Current investments | 50/53 | €45,101 | €69,300 | +€24,199 | +53.7% |
| Cash at bank and in hand | 54/58 | €135,655 | €141,009 | +€5,354 | +3.9% |
| Deferred charges and accrued income | 490/1 | €6,704 | €441 | -€6,263 | -93.4% |
| Total equity and liabilities | 10/49 | €785,512 | €851,185 | +€65,674 | +8.4% |
| Equity | 10/15 | €524,549 | €632,056 | +€107,506 | +20.5% |
| Contributions | 10/11 | €101,612 | €101,612 | = | 0.0% |
| Reserves | 13 | €422,937 | €530,443 | +€107,506 | +25.4% |
| Distributable reserves | 133 | €422,937 | €530,443 | +€107,506 | +25.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €260,962 | €219,129 | -€41,833 | -16.0% |
| Amounts payable after more than one year | 17 | €109,852 | €53,025 | -€56,827 | -51.7% |
| Financial debts | 170/4 | €109,852 | €53,025 | -€56,827 | -51.7% |
| Amounts payable within one year | 42/48 | €149,537 | €164,339 | +€14,802 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €71,134 | €56,827 | -€14,307 | -20.1% |
| Trade debts | 44 | €7,099 | €689 | -€6,410 | -90.3% |
| Suppliers | 440/4 | €7,099 | €689 | -€6,410 | -90.3% |
| Taxes, remuneration and social security | 45 | €36,098 | €29,417 | -€6,682 | -18.5% |
| Taxes | 450/3 | €36,098 | €29,417 | -€6,682 | -18.5% |
| Other amounts payable | 47/48 | €35,206 | €77,407 | +€42,201 | +119.9% |
| Accrued charges and deferred income | 492/3 | €1,573 | €1,765 | +€192 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,624 | €17,203 | -€421 | -2.4% |
| Other operating charges | 640/8 | €3,049 | €3,132 | +€84 | +2.7% |
| Non-recurring operating charges | 66A | €240 | €0 | -€240 | -100.0% |
| Gross operating margin | 9900 | €228,635 | €263,330 | +€34,695 | +15.2% |
| Operating profit (loss) | 9901 | €207,722 | €242,995 | +€35,273 | +17.0% |
| Financial income | 75/76B | €145 | €284 | +€139 | +95.9% |
| Recurring financial income | 75 | €145 | €284 | +€139 | +95.9% |
| Financial charges | 65/66B | €8,463 | €7,274 | -€1,189 | -14.1% |
| Recurring financial charges | 65 | €8,463 | €7,274 | -€1,189 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €199,405 | €236,006 | +€36,601 | +18.4% |
| Income taxes | 67/77 | €66,310 | €76,474 | +€10,164 | +15.3% |
| Profit (loss) for the period | 9904 | €133,094 | €159,532 | +€26,437 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €133,094 | €159,532 | +€26,437 | +19.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.