DJWA: 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.
DJWA
Largest movements
- Cash +€60,681
up €60,681 (+72.0%), from €84,335 to €145,016
mainly Depreciation (+€79,406) and Net result for the year (+€70,652)
- Tangible fixed assets +€33,765
up €33,765 (+12.5%), from €270,388 to €304,154
of which Furniture and vehicles: +€52,030
- Intangible fixed assets -€13,054
no longer reported in 2025 (was €13,054)
- Reserves +€69,819
up €69,819 (+65.9%), from €106,000 to €175,819
of which Distributable reserves: +€69,819
- Debts after one year +€11,477
up €11,477 (+6.5%), from €175,406 to €186,883
- Current portion of long-term debt +€7,908
up €7,908 (+15.2%), from €52,079 to €59,986
- Trade debts -€5,660
down €5,660 (-58.6%), from €9,657 to €3,997
- Gross operating margin +€51,382
up €51,382 (+32.9%), from €156,347 to €207,729
- Depreciation +€17,730
up €17,730 (+28.7%), from €61,676 to €79,406
- Taxes +€5,044
up €5,044 (+20.7%), from €24,308 to €29,352
- Other operating charges -€3,309
down €3,309 (-66.8%), from €4,951 to €1,641
- Financial income -€2,576
down €2,576 (-74.6%), from €3,452 to €876
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 | €372,728 | €451,857 | +€79,129 | +21.2% |
| Fixed assets | 21/28 | €283,443 | €304,154 | +€20,711 | +7.3% |
| Intangible fixed assets | 21 | €13,054 | - | -€13,054 | |
| Tangible fixed assets | 22/27 | €270,388 | €304,154 | +€33,765 | +12.5% |
| Land and buildings | 22 | €52,856 | €42,285 | -€10,571 | -20.0% |
| Furniture and vehicles | 24 | €70,845 | €122,875 | +€52,030 | +73.4% |
| Other tangible fixed assets | 26 | €146,687 | €138,994 | -€7,693 | -5.2% |
| Current assets | 29/58 | €89,286 | €147,703 | +€58,417 | +65.4% |
| Amounts receivable within one year | 40/41 | €2,434 | €87 | -€2,347 | -96.4% |
| Other amounts receivable | 41 | €2,434 | €87 | -€2,347 | -96.4% |
| Cash at bank and in hand | 54/58 | €84,335 | €145,016 | +€60,681 | +72.0% |
| Deferred charges and accrued income | 490/1 | €2,516 | €2,600 | +€84 | +3.3% |
| Total equity and liabilities | 10/49 | €372,728 | €451,857 | +€79,129 | +21.2% |
| Equity | 10/15 | €118,400 | €188,219 | +€69,819 | +59.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €106,000 | €175,819 | +€69,819 | +65.9% |
| Non-distributable reserves | 130/1 | €167 | €167 | = | 0.0% |
| Reserves not available under the articles | 1311 | €167 | €167 | = | 0.0% |
| Distributable reserves | 133 | €105,833 | €175,652 | +€69,819 | +66.0% |
| Amounts payable | 17/49 | €254,328 | €263,638 | +€9,310 | +3.7% |
| Amounts payable after more than one year | 17 | €175,406 | €186,883 | +€11,477 | +6.5% |
| Financial debts | 170/4 | €175,406 | €186,883 | +€11,477 | +6.5% |
| Amounts payable within one year | 42/48 | €78,922 | €76,755 | -€2,167 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €52,079 | €59,986 | +€7,908 | +15.2% |
| Financial debts | 43 | €2,035 | - | -€2,035 | |
| Credit institutions | 430/8 | €2,035 | - | -€2,035 | |
| Trade debts | 44 | €9,657 | €3,997 | -€5,660 | -58.6% |
| Suppliers | 440/4 | €9,657 | €3,997 | -€5,660 | -58.6% |
| Taxes, remuneration and social security | 45 | €14,318 | €11,939 | -€2,380 | -16.6% |
| Taxes | 450/3 | €11,600 | €9,153 | -€2,448 | -21.1% |
| Remuneration and social security | 454/9 | €2,718 | €2,786 | +€68 | +2.5% |
| Other amounts payable | 47/48 | €833 | €833 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €17,391 | €17,263 | -€128 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,676 | €79,406 | +€17,730 | +28.7% |
| Other operating charges | 640/8 | €4,951 | €1,641 | -€3,309 | -66.8% |
| Gross operating margin | 9900 | €156,347 | €207,729 | +€51,382 | +32.9% |
| Operating profit (loss) | 9901 | €72,329 | €109,419 | +€37,090 | +51.3% |
| Financial income | 75/76B | €3,452 | €876 | -€2,576 | -74.6% |
| Recurring financial income | 75 | €3,452 | €876 | -€2,576 | -74.6% |
| Financial charges | 65/66B | €9,706 | €10,291 | +€586 | +6.0% |
| Recurring financial charges | 65 | €9,706 | €10,291 | +€586 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €66,076 | €100,004 | +€33,928 | +51.3% |
| Income taxes | 67/77 | €24,308 | €29,352 | +€5,044 | +20.7% |
| Profit (loss) for the period | 9904 | €41,768 | €70,652 | +€28,884 | +69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €41,768 | €70,652 | +€28,884 | +69.2% |
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 4 October 2026 via checked.be.