STUDIO J.M.: 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.
STUDIO J.M.
Largest movements
- Tangible fixed assets +€16,131
up €16,131 (+143%), from €11,310 to €27,441
of which Furniture and vehicles: +€21,043
- Receivables within one year +€2,427
up €2,427 (+36.1%), from €6,721 to €9,147
of which Trade receivables: +€2,410
- Cash -€1,741
down €1,741 (-25.1%), from €6,940 to €5,200
mainly Investment in fixed assets (net) (-€25,208) and Receivables within one year (-€2,427)
- Profit (loss) carried forward +€9,888
up €9,888 (+5.3%), from -€185,112 to -€175,224
- Other debts +€8,896
up €8,896 (+6.7%), from €133,395 to €142,291
- Trade debts +€2,139
up €2,139 (+17.8%), from €12,035 to €14,174
- Current portion of long-term debt -€1,816
down €1,816 (-57.9%), from €3,136 to €1,320
- Tax, wage and social debts -€1,327
down €1,327 (-32.0%), from €4,151 to €2,824
- Gross operating margin +€41,440
up €41,440, from -€20,529 to €20,911
- Depreciation +€3,342
up €3,342 (+58.3%), from €5,735 to €9,077
- Other operating charges +€751
up €751 (+84.5%), from €889 to €1,639
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 | €39,550 | €56,009 | +€16,459 | +41.6% |
| Fixed assets | 21/28 | €11,380 | €27,511 | +€16,131 | +142% |
| Tangible fixed assets | 22/27 | €11,310 | €27,441 | +€16,131 | +143% |
| Plant, machinery and equipment | 23 | €4,201 | €1,239 | -€2,962 | -70.5% |
| Furniture and vehicles | 24 | €395 | €21,438 | +€21,043 | +5,321% |
| Other tangible fixed assets | 26 | €6,713 | €4,764 | -€1,950 | -29.0% |
| Financial fixed assets | 28 | €71 | €71 | = | 0.0% |
| Current assets | 29/58 | €28,170 | €28,497 | +€327 | +1.2% |
| Stocks and contracts in progress | 3 | €12,231 | €11,747 | -€484 | -4.0% |
| Stocks | 30/36 | €12,231 | €11,747 | -€484 | -4.0% |
| Amounts receivable within one year | 40/41 | €6,721 | €9,147 | +€2,427 | +36.1% |
| Trade receivables | 40 | €6,717 | €9,128 | +€2,410 | +35.9% |
| Other amounts receivable | 41 | €3 | €20 | +€16 | +464% |
| Cash at bank and in hand | 54/58 | €6,940 | €5,200 | -€1,741 | -25.1% |
| Deferred charges and accrued income | 490/1 | €2,278 | €2,404 | +€126 | +5.5% |
| Total equity and liabilities | 10/49 | €39,550 | €56,009 | +€16,459 | +41.6% |
| Equity | 10/15 | -€164,487 | -€154,599 | +€9,888 | +6.0% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €1,875 | €1,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€185,112 | -€175,224 | +€9,888 | +5.3% |
| Amounts payable | 17/49 | €204,037 | €210,608 | +€6,571 | +3.2% |
| Amounts payable after more than one year | 17 | €51,320 | €50,000 | -€1,320 | -2.6% |
| Financial debts | 170/4 | €51,320 | €50,000 | -€1,320 | -2.6% |
| Amounts payable within one year | 42/48 | €152,717 | €160,608 | +€7,891 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €3,136 | €1,320 | -€1,816 | -57.9% |
| Trade debts | 44 | €12,035 | €14,174 | +€2,139 | +17.8% |
| Suppliers | 440/4 | €12,035 | €14,174 | +€2,139 | +17.8% |
| Taxes, remuneration and social security | 45 | €4,151 | €2,824 | -€1,327 | -32.0% |
| Taxes | 450/3 | €4,151 | €2,824 | -€1,327 | -32.0% |
| Other amounts payable | 47/48 | €133,395 | €142,291 | +€8,896 | +6.7% |
| Non-recurring operating income | 76A | €3,842 | €165 | -€3,676 | -95.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,735 | €9,077 | +€3,342 | +58.3% |
| Other operating charges | 640/8 | €889 | €1,639 | +€751 | +84.5% |
| Gross operating margin | 9900 | -€20,529 | €20,911 | +€41,440 | |
| Operating profit (loss) | 9901 | -€27,152 | €10,195 | +€37,347 | |
| Financial income | 75/76B | €168 | €50 | -€118 | -70.4% |
| Recurring financial income | 75 | €168 | €26 | -€142 | -84.5% |
| Non-recurring financial income | 76B | - | €24 | +€24 | |
| Financial charges | 65/66B | €293 | €156 | -€137 | -46.7% |
| Recurring financial charges | 65 | €293 | €156 | -€137 | -46.7% |
| Profit (loss) for the period before taxes | 9903 | -€27,278 | €10,089 | +€37,366 | |
| Income taxes | 67/77 | €235 | €201 | -€34 | -14.6% |
| Profit (loss) for the period | 9904 | -€27,513 | €9,888 | +€37,401 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,513 | €9,888 | +€37,401 |
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 25 October 2026 via checked.be.