H.W. EJS: 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.
H.W. EJS
Largest movements
- Intangible fixed assets -€39,000
down €39,000 (-76.3%), from €51,140 to €12,140
- Tangible fixed assets +€35,919
up €35,919 (+130%), from €27,635 to €63,553
of which Other tangible fixed assets: +€24,089
- Deferred charges and accrued income +€22,469
up €22,469 (+520%), from €4,323 to €26,793
- Receivables within one year +€20,512
up €20,512 (+20.5%), from €100,143 to €120,654
of which Trade receivables: +€15,912
- Profit (loss) carried forward +€120,425
up €120,425, from -€117,953 to €2,472
- Other debts -€43,099
down €43,099 (-45.5%), from €94,733 to €51,633
- Short-term financial debts -€32,458
down €32,458 (-76.5%), from €42,435 to €9,978
- Trade debts -€29,678
down €29,678 (-61.8%), from €47,985 to €18,307
- Debts after one year +€18,698
up €18,698 (+47.9%), from €39,059 to €57,757
- Gross operating margin +€153,833
up €153,833 (+47.3%), from €325,096 to €478,929
- Staff costs +€23,809
up €23,809 (+8.8%), from €271,142 to €294,951
- Other operating charges +€10,691
up €10,691 (+132%), from €8,093 to €18,784
- Financial charges -€5,301
down €5,301 (-35.2%), from €15,068 to €9,767
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 | €187,770 | €227,689 | +€39,918 | +21.3% |
| Fixed assets | 21/28 | €78,774 | €75,693 | -€3,081 | -3.9% |
| Intangible fixed assets | 21 | €51,140 | €12,140 | -€39,000 | -76.3% |
| Tangible fixed assets | 22/27 | €27,635 | €63,553 | +€35,919 | +130% |
| Furniture and vehicles | 24 | €16,810 | €28,639 | +€11,830 | +70.4% |
| Other tangible fixed assets | 26 | €10,825 | €34,914 | +€24,089 | +223% |
| Current assets | 29/58 | €108,996 | €151,996 | +€43,000 | +39.5% |
| Amounts receivable within one year | 40/41 | €100,143 | €120,654 | +€20,512 | +20.5% |
| Trade receivables | 40 | €96,633 | €112,544 | +€15,912 | +16.5% |
| Other amounts receivable | 41 | €3,510 | €8,110 | +€4,600 | +131% |
| Cash at bank and in hand | 54/58 | €4,530 | €4,549 | +€19 | +0.4% |
| Deferred charges and accrued income | 490/1 | €4,323 | €26,793 | +€22,469 | +520% |
| Total equity and liabilities | 10/49 | €187,770 | €227,689 | +€39,918 | +21.3% |
| Equity | 10/15 | -€115,453 | €4,972 | +€120,425 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€117,953 | €2,472 | +€120,425 | |
| Amounts payable | 17/49 | €303,224 | €222,716 | -€80,507 | -26.6% |
| Amounts payable after more than one year | 17 | €39,059 | €57,757 | +€18,698 | +47.9% |
| Financial debts | 170/4 | €39,059 | €57,757 | +€18,698 | +47.9% |
| Amounts payable within one year | 42/48 | €263,682 | €163,036 | -€100,646 | -38.2% |
| Current portion of amounts payable after more than one year | 42 | €54,929 | €54,322 | -€607 | -1.1% |
| Financial debts | 43 | €42,435 | €9,978 | -€32,458 | -76.5% |
| Credit institutions | 430/8 | €42,435 | €9,978 | -€32,458 | -76.5% |
| Trade debts | 44 | €47,985 | €18,307 | -€29,678 | -61.8% |
| Suppliers | 440/4 | €47,985 | €18,307 | -€29,678 | -61.8% |
| Taxes, remuneration and social security | 45 | €23,600 | €28,796 | +€5,196 | +22.0% |
| Taxes | 450/3 | €1,625 | €1,308 | -€317 | -19.5% |
| Remuneration and social security | 454/9 | €21,975 | €27,489 | +€5,513 | +25.1% |
| Other amounts payable | 47/48 | €94,733 | €51,633 | -€43,099 | -45.5% |
| Accrued charges and deferred income | 492/3 | €483 | €1,923 | +€1,441 | +299% |
| Non-recurring operating income | 76A | €13,403 | €7,510 | -€5,893 | -44.0% |
| Remuneration, social security and pensions | 62 | €271,142 | €294,951 | +€23,809 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,254 | €34,495 | -€2,759 | -7.4% |
| Other operating charges | 640/8 | €8,093 | €18,784 | +€10,691 | +132% |
| Gross operating margin | 9900 | €325,096 | €478,929 | +€153,833 | +47.3% |
| Operating profit (loss) | 9901 | €8,606 | €130,699 | +€122,093 | +1,419% |
| Financial income | 75/76B | €32 | €70 | +€38 | +122% |
| Recurring financial income | 75 | €32 | €70 | +€38 | +122% |
| Financial charges | 65/66B | €15,068 | €9,767 | -€5,301 | -35.2% |
| Recurring financial charges | 65 | €15,068 | €9,767 | -€5,301 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,430 | €121,002 | +€127,432 | |
| Income taxes | 67/77 | €731 | €576 | -€155 | -21.2% |
| Profit (loss) for the period | 9904 | -€7,161 | €120,425 | +€127,587 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,161 | €120,425 | +€127,587 |
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 14 October 2026 via checked.be.