J.D.W.: 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.
J.D.W.
Largest movements
- Tangible fixed assets -€11,201
down €11,201 (-55.2%), from €20,299 to €9,097
of which Furniture and vehicles: -€10,550
- Cash +€10,130
up €10,130 (+11.3%), from €89,850 to €99,980
mainly Depreciation (+€11,201) and Investment in fixed assets (net) (+€3,520)
- Financial fixed assets -€3,520
down €3,520 (-100%), from €3,520 to €0
- Receivables within one year -€2,787
down €2,787 (-21.0%), from €13,297 to €10,510
of which Other amounts receivable: -€2,352
- Other debts -€8,799
down €8,799 (-29.7%), from €29,611 to €20,812
- Depreciation -€11,142
down €11,142 (-49.9%), from €22,343 to €11,201
- Gross operating margin -€3,733
down €3,733 (-19.4%), from €19,276 to €15,542
- Staff costs -€1,235
down €1,235 (-58.8%), from €2,102 to €867
- Financial charges -€1,037
down €1,037 (-33.1%), from €3,130 to €2,092
of which Financial charges: -€950
- Financial income -€226
down €226 (-29.2%), from €773 to €548
of which Non-recurring financial income: -€542
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 | €139,563 | €132,568 | -€6,995 | -5.0% |
| Fixed assets | 21/28 | €23,819 | €9,097 | -€14,722 | -61.8% |
| Tangible fixed assets | 22/27 | €20,299 | €9,097 | -€11,201 | -55.2% |
| Plant, machinery and equipment | 23 | €2,153 | €1,501 | -€652 | -30.3% |
| Furniture and vehicles | 24 | €18,146 | €7,596 | -€10,550 | -58.1% |
| Financial fixed assets | 28 | €3,520 | €0 | -€3,520 | -100% |
| Current assets | 29/58 | €115,744 | €123,470 | +€7,727 | +6.7% |
| Stocks and contracts in progress | 3 | €1,100 | €850 | -€250 | -22.7% |
| Stocks | 30/36 | €1,100 | €850 | -€250 | -22.7% |
| Amounts receivable within one year | 40/41 | €13,297 | €10,510 | -€2,787 | -21.0% |
| Trade receivables | 40 | €10,093 | €9,658 | -€435 | -4.3% |
| Other amounts receivable | 41 | €3,204 | €852 | -€2,352 | -73.4% |
| Current investments | 50/53 | €11,497 | €11,585 | +€88 | +0.8% |
| Cash at bank and in hand | 54/58 | €89,850 | €99,980 | +€10,130 | +11.3% |
| Deferred charges and accrued income | 490/1 | - | €545 | +€545 | |
| Total equity and liabilities | 10/49 | €139,563 | €132,568 | -€6,995 | -5.0% |
| Equity | 10/15 | €109,338 | €110,485 | +€1,146 | +1.0% |
| Contributions | 10/11 | €20,250 | €20,250 | = | 0.0% |
| Reserves | 13 | €92,630 | €92,630 | = | 0.0% |
| Distributable reserves | 133 | €92,630 | €92,630 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,542 | -€2,395 | +€1,146 | +32.4% |
| Amounts payable | 17/49 | €30,224 | €22,083 | -€8,141 | -26.9% |
| Amounts payable within one year | 42/48 | €30,224 | €22,083 | -€8,141 | -26.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €579 | €451 | -€127 | -22.0% |
| Suppliers | 440/4 | €579 | €451 | -€127 | -22.0% |
| Taxes, remuneration and social security | 45 | €34 | €819 | +€785 | +2,278% |
| Taxes | 450/3 | €34 | €819 | +€785 | +2,278% |
| Other amounts payable | 47/48 | €29,611 | €20,812 | -€8,799 | -29.7% |
| Non-recurring operating income | 76A | €826 | €0 | -€826 | -100% |
| Remuneration, social security and pensions | 62 | €2,102 | €867 | -€1,235 | -58.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,343 | €11,201 | -€11,142 | -49.9% |
| Other operating charges | 640/8 | €557 | €581 | +€23 | +4.2% |
| Gross operating margin | 9900 | €19,276 | €15,542 | -€3,733 | -19.4% |
| Operating profit (loss) | 9901 | -€5,727 | €2,893 | +€8,620 | |
| Financial income | 75/76B | €773 | €548 | -€226 | -29.2% |
| Recurring financial income | 75 | €144 | €460 | +€316 | +220% |
| Non-recurring financial income | 76B | €629 | €88 | -€542 | -86.1% |
| Financial charges | 65/66B | €3,130 | €2,092 | -€1,037 | -33.1% |
| Recurring financial charges | 65 | €3,042 | €2,092 | -€950 | -31.2% |
| Non-recurring financial charges | 66B | €88 | €0 | -€88 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€8,084 | €1,348 | +€9,432 | |
| Income taxes | 67/77 | €149 | €202 | +€53 | +35.8% |
| Profit (loss) for the period | 9904 | -€8,232 | €1,146 | +€9,379 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,232 | €1,146 | +€9,379 |
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 15 October 2026 via checked.be.