J.S. WELDING: 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.S. WELDING
Largest movements
- Receivables within one year +€112,798
up €112,798 (+44.5%), from €253,409 to €366,207
of which Trade receivables: +€67,597
- Tangible fixed assets -€99,164
down €99,164 (-25.3%), from €392,699 to €293,535
- Stocks and contracts -€46,227
down €46,227 (-46.8%), from €98,739 to €52,512
- Cash +€15,292
up €15,292 (+41.7%), from €36,706 to €51,998
mainly Depreciation (+€102,719) and Stocks and contracts (+€46,227)
- Debts after one year -€52,574
down €52,574 (-14.5%), from €363,312 to €310,737
of which Financial debts: -€55,562
- Profit (loss) carried forward +€45,982
up €45,982 (+26.2%), from -€175,691 to -€129,709
- Trade debts -€25,038
down €25,038 (-7.1%), from €350,526 to €325,488
- Tax, wage and social debts +€22,708
up €22,708 (+83.1%), from €27,310 to €50,018
of which Taxes: +€28,665
- Short-term financial debts -€9,900
down €9,900 (-8.1%), from €121,900 to €112,000
- Gross operating margin +€89,979
up €89,979 (+45.1%), from €199,684 to €289,663
- Staff costs -€40,207
down €40,207 (-25.9%), from €155,436 to €115,229
- Depreciation -€6,789
down €6,789 (-6.2%), from €109,508 to €102,719
- Financial income +€3,282
up €3,282 (+4,815%), from €68 to €3,350
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 | €793,827 | €774,097 | -€19,730 | -2.5% |
| Formation expenses | 20 | €56 | - | -€56 | |
| Fixed assets | 21/28 | €403,641 | €302,043 | -€101,599 | -25.2% |
| Intangible fixed assets | 21 | €3,222 | €788 | -€2,434 | -75.5% |
| Tangible fixed assets | 22/27 | €392,699 | €293,535 | -€99,164 | -25.3% |
| Land and buildings | 22 | €6,049 | €4,981 | -€1,068 | -17.7% |
| Plant, machinery and equipment | 23 | €93,741 | €54,313 | -€39,428 | -42.1% |
| Furniture and vehicles | 24 | €32,309 | €19,984 | -€12,325 | -38.1% |
| Leasing and similar rights | 25 | €253,494 | €209,665 | -€43,829 | -17.3% |
| Other tangible fixed assets | 26 | €7,106 | €4,591 | -€2,514 | -35.4% |
| Financial fixed assets | 28 | €7,720 | €7,720 | = | 0.0% |
| Current assets | 29/58 | €390,130 | €472,054 | +€81,924 | +21.0% |
| Stocks and contracts in progress | 3 | €98,739 | €52,512 | -€46,227 | -46.8% |
| Stocks | 30/36 | €98,739 | €52,512 | -€46,227 | -46.8% |
| Amounts receivable within one year | 40/41 | €253,409 | €366,207 | +€112,798 | +44.5% |
| Trade receivables | 40 | €237,481 | €305,078 | +€67,597 | +28.5% |
| Other amounts receivable | 41 | €15,929 | €61,129 | +€45,200 | +284% |
| Cash at bank and in hand | 54/58 | €36,706 | €51,998 | +€15,292 | +41.7% |
| Deferred charges and accrued income | 490/1 | €1,276 | €1,337 | +€61 | +4.8% |
| Total equity and liabilities | 10/49 | €793,827 | €774,097 | -€19,730 | -2.5% |
| Equity | 10/15 | -€125,691 | -€79,709 | +€45,982 | +36.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€175,691 | -€129,709 | +€45,982 | +26.2% |
| Amounts payable | 17/49 | €919,517 | €853,805 | -€65,712 | -7.1% |
| Amounts payable after more than one year | 17 | €363,312 | €310,737 | -€52,574 | -14.5% |
| Financial debts | 170/4 | €278,257 | €222,695 | -€55,562 | -20.0% |
| Other amounts payable | 178/9 | €85,055 | €88,043 | +€2,988 | +3.5% |
| Amounts payable within one year | 42/48 | €556,206 | €543,068 | -€13,138 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €56,469 | €55,562 | -€907 | -1.6% |
| Financial debts | 43 | €121,900 | €112,000 | -€9,900 | -8.1% |
| Credit institutions | 430/8 | €121,900 | €112,000 | -€9,900 | -8.1% |
| Trade debts | 44 | €350,526 | €325,488 | -€25,038 | -7.1% |
| Suppliers | 440/4 | €350,526 | €325,488 | -€25,038 | -7.1% |
| Taxes, remuneration and social security | 45 | €27,310 | €50,018 | +€22,708 | +83.1% |
| Taxes | 450/3 | €5,028 | €33,692 | +€28,665 | +570% |
| Remuneration and social security | 454/9 | €22,282 | €16,326 | -€5,957 | -26.7% |
| Remuneration, social security and pensions | 62 | €155,436 | €115,229 | -€40,207 | -25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,508 | €102,719 | -€6,789 | -6.2% |
| Other operating charges | 640/8 | €11,150 | €11,114 | -€36 | -0.3% |
| Gross operating margin | 9900 | €199,684 | €289,663 | +€89,979 | +45.1% |
| Operating profit (loss) | 9901 | -€76,410 | €60,602 | +€137,011 | |
| Financial income | 75/76B | €68 | €3,350 | +€3,282 | +4,815% |
| Recurring financial income | 75 | €68 | €3,350 | +€3,282 | +4,815% |
| Financial charges | 65/66B | €18,784 | €17,738 | -€1,046 | -5.6% |
| Recurring financial charges | 65 | €18,784 | €17,738 | -€1,046 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€95,126 | €46,214 | +€141,339 | |
| Income taxes | 67/77 | €197 | €232 | +€35 | +17.6% |
| Profit (loss) for the period | 9904 | -€95,323 | €45,982 | +€141,305 | |
| Profit (loss) for the period to be appropriated | 9905 | -€95,323 | €45,982 | +€141,305 |
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 21 October 2026 via checked.be.