J.M. CONSTRUCT: 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.
What changed
J.M. CONSTRUCT
NACE 81.100, Combined facilities support activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.4m
2024 · €598,603-€2.0m
Equity
€48.3m
2024 · €49.7m-€1.4m
Cash
€2,680
2024 · €3,552-€872
Balance sheet total
€98.4m
2024 · €105.8m-€7.4m
Largest movements
Assets
- Financial fixed assets -€5.3m
down €5.3m (-5.8%), from €91.4m to €86.2m
of which Companies linked by participating interests: -€4.6m
- Receivables within one year -€1.7m
down €1.7m (-88.2%), from €1.9m to €229,842
of which Trade receivables: -€1.3m
Equity and liabilities
- Debts after one year -€8.6m
down €8.6m (-45.4%), from €18.8m to €10.3m
- Other debts +€3.0m
up €3.0m (+8.5%), from €36.0m to €39.0m
- Reserves -€1.4m
down €1.4m (-3.1%), from €45.1m to €43.7m
of which Distributable reserves: -€1.4m
Income statement
- Turnover -€1.3m
down €1.3m (-36.6%), from €3.6m to €2.3m
- Financial charges +€336,744
up €336,744 (+18.5%), from €1.8m to €2.2m
- Goods and materials +€322,233
up €322,233 (+285%), from €113,073 to €435,306
of which Change in stocks: decrease (increase): +€715,863
- Financial income -€172,653
down €172,653 (-9.2%), from €1.9m to €1.7m
- Services and other goods -€116,788
down €116,788 (-5.3%), from €2.2m to €2.1m
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.
Result 2024
€598,603
Turnover
-€1.3m
Other operating income
+€75,473
Goods and materials
-€322,233
Services and other goods
+€116,788
Staff costs
-€57,796
Other operating charges
+€9,171
Financial income
-€172,653
Financial charges
-€336,744
Taxes
-€43
Result 2025
-€1.4m
raises the resultlowers the result
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.
From operations
+€3.3m
Investment
+€5.2m
Financing
-€8.6m
Cash 2024
€3,552
From operations (derived)
+€3.3m
Net result for the year
-€1.4m
Depreciation
+€6,074
Receivables after one year
+€378,000
Stocks and contracts
+€435,306
Receivables within one year
+€1.7m
Deferred charges and accrued income
-€358,940
Trade debts
-€656,783
Tax, wage and social debts
-€189,310
Advances received
+€6,500
Other debts
+€3.0m
Accrued charges and deferred income
+€335,643
Investment (derived)
+€5.2m
Investment in fixed assets (net)
+€5.2m
Financing
-€8.6m
Debts after one year
-€8.6m
Cash 2025
€2,680
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,847,530 | €98,444,446 | -€7.4m | -7.0% |
| Fixed assets | 21/28 | €91,548,829 | €86,320,930 | -€5.2m | -5.7% |
| Tangible fixed assets | 22/27 | €99,687 | €144,595 | +€44,909 | +45.0% |
| Furniture and vehicles | 24 | €10,781 | €4,707 | -€6,074 | -56.3% |
| Assets under construction and advance payments | 27 | €88,906 | €139,888 | +€50,983 | +57.3% |
| Financial fixed assets | 28 | €91,449,142 | €86,176,335 | -€5.3m | -5.8% |
| Affiliated companies | 280/1 | €34,907,069 | €34,192,708 | -€714,361 | -2.0% |
| Participating interests | 280 | €34,192,708 | €34,192,708 | = | 0.0% |
| Amounts receivable | 281 | €714,361 | €0 | -€714,361 | -100% |
| Companies linked by participating interests | 282/3 | €56,542,073 | €51,983,627 | -€4.6m | -8.1% |
| Participating interests | 282 | €30,720,752 | €30,996,022 | +€275,270 | +0.9% |
| Amounts receivable | 283 | €25,821,321 | €20,987,604 | -€4.8m | -18.7% |
| Current assets | 29/58 | €14,298,701 | €12,123,516 | -€2.2m | -15.2% |
| Amounts receivable after more than one year | 29 | €9,759,250 | €9,381,250 | -€378,000 | -3.9% |
| Other amounts receivable | 291 | €9,759,250 | €9,381,250 | -€378,000 | -3.9% |
| Stocks and contracts in progress | 3 | €530,610 | €95,304 | -€435,306 | -82.0% |
| Stocks | 30/36 | €530,610 | €95,304 | -€435,306 | -82.0% |
| Property held for sale | 35 | €530,610 | €95,304 | -€435,306 | -82.0% |
| Amounts receivable within one year | 40/41 | €1,949,790 | €229,842 | -€1.7m | -88.2% |
| Trade receivables | 40 | €1,569,330 | €221,973 | -€1.3m | -85.9% |
| Other amounts receivable | 41 | €380,460 | €7,870 | -€372,590 | -97.9% |
| Cash at bank and in hand | 54/58 | €3,552 | €2,680 | -€872 | -24.5% |
| Deferred charges and accrued income | 490/1 | €2,055,499 | €2,414,439 | +€358,940 | +17.5% |
| Total equity and liabilities | 10/49 | €105,847,530 | €98,444,446 | -€7.4m | -7.0% |
| Equity | 10/15 | €49,659,804 | €48,268,256 | -€1.4m | -2.8% |
| Contributions | 10/11 | €4,597,857 | €4,597,857 | = | 0.0% |
| Capital | 10 | €4,597,857 | €4,597,857 | = | 0.0% |
| Issued capital | 100 | €4,597,857 | €4,597,857 | = | 0.0% |
| Reserves | 13 | €45,061,440 | €43,669,892 | -€1.4m | -3.1% |
| Non-distributable reserves | 130/1 | €459,786 | €459,786 | = | 0.0% |
| Legal reserve | 130 | €459,786 | €459,786 | = | 0.0% |
| Distributable reserves | 133 | €44,601,654 | €43,210,106 | -€1.4m | -3.1% |
| Investment grants | 15 | €507 | €507 | = | 0.0% |
| Amounts payable | 17/49 | €56,187,725 | €50,176,190 | -€6.0m | -10.7% |
| Amounts payable after more than one year | 17 | €18,839,515 | €10,284,515 | -€8.6m | -45.4% |
| Financial debts | 170/4 | €18,839,515 | €10,284,515 | -€8.6m | -45.4% |
| Credit institutions | 173 | €9,500,000 | €0 | -€9.5m | -100% |
| Other loans | 174 | €9,339,515 | €10,284,515 | +€945,000 | +10.1% |
| Amounts payable within one year | 42/48 | €37,202,173 | €39,409,995 | +€2.2m | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €896,512 | €239,729 | -€656,783 | -73.3% |
| Suppliers | 440/4 | €896,512 | €239,729 | -€656,783 | -73.3% |
| Advances received on contracts in progress | 46 | €0 | €6,500 | +€6,500 | |
| Taxes, remuneration and social security | 45 | €326,171 | €136,860 | -€189,310 | -58.0% |
| Taxes | 450/3 | €187,610 | €14,510 | -€173,100 | -92.3% |
| Remuneration and social security | 454/9 | €138,561 | €122,351 | -€16,210 | -11.7% |
| Other amounts payable | 47/48 | €35,979,491 | €39,026,906 | +€3.0m | +8.5% |
| Accrued charges and deferred income | 492/3 | €146,037 | €481,680 | +€335,643 | +230% |
| Operating income | 70/76A | €3,674,197 | €2,447,555 | -€1.2m | -33.4% |
| Turnover | 70 | €3,556,771 | €2,254,655 | -€1.3m | -36.6% |
| Other operating income | 74 | €117,426 | €192,900 | +€75,473 | +64.3% |
| Operating charges | 60/66A | €3,125,338 | €3,379,407 | +€254,069 | +8.1% |
| Goods for resale, raw materials and consumables | 60 | €113,073 | €435,306 | +€322,233 | +285% |
| Purchases | 600/8 | €393,630 | €0 | -€393,630 | -100% |
| Change in stocks: decrease (increase) | 609 | -€280,557 | €435,306 | +€715,863 | |
| Services and other goods | 61 | €2,188,469 | €2,071,680 | -€116,788 | -5.3% |
| Remuneration, social security and pensions | 62 | €807,347 | €865,143 | +€57,796 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,074 | €6,074 | = | 0.0% |
| Other operating charges | 640/8 | €10,375 | €1,204 | -€9,171 | -88.4% |
| Operating profit (loss) | 9901 | €548,859 | -€931,853 | -€1.5m | |
| Financial income | 75/76B | €1,869,497 | €1,696,844 | -€172,653 | -9.2% |
| Recurring financial income | 75 | €1,869,497 | €1,696,844 | -€172,653 | -9.2% |
| Income from financial fixed assets | 750 | €943,957 | €1,194,408 | +€250,451 | +26.5% |
| Income from current assets | 751 | €803,921 | €499,708 | -€304,213 | -37.8% |
| Other financial income | 752/9 | €121,619 | €2,728 | -€118,891 | -97.8% |
| Financial charges | 65/66B | €1,819,387 | €2,156,131 | +€336,744 | +18.5% |
| Recurring financial charges | 65 | €1,819,387 | €2,156,131 | +€336,744 | +18.5% |
| Debt charges | 650 | €1,818,926 | €2,153,785 | +€334,859 | +18.4% |
| Other financial charges | 652/9 | €461 | €2,346 | +€1,885 | +408% |
| Profit (loss) for the period before taxes | 9903 | €598,969 | -€1,391,140 | -€2.0m | |
| Income taxes | 67/77 | €366 | €408 | +€43 | +11.6% |
| Taxes | 670/3 | €366 | €408 | +€43 | +11.6% |
| Profit (loss) for the period | 9904 | €598,603 | -€1,391,548 | -€2.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €598,603 | -€1,391,548 | -€2.0m |
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 29 October 2026 via checked.be.