J & W: what changed
J & W
Largest movements
- Stocks and contracts +€5,098
up €5,098 (+336%), from €1,518 to €6,616
- Receivables within one year -€2,005
down €2,005 (-47.7%), from €4,205 to €2,200
of which Other amounts receivable: -€2,394
- Cash +€1,331
up €1,331 (+23.7%), from €5,614 to €6,945
mainly Tax, wage and social debts (+€31,851) and Trade debts (+€5,809)
- Current investments +€1,080
up €1,080 (+4,909%), from €22 to €1,102
- Tangible fixed assets -€525
down €525 (-7.6%), from €6,944 to €6,419
- Tax, wage and social debts +€31,851
up €31,851 (+13,271%), from €240 to €32,091
of which Remuneration and social security: +€25,384
- Profit (loss) carried forward -€25,278
down €25,278 (-8.9%), from -€283,444 to -€308,722
- Debts after one year -€7,241
down €7,241 (-3.3%), from €221,915 to €214,674
- Trade debts +€5,809
up €5,809 (+53.6%), from €10,830 to €16,639
- Staff costs +€39,698
up €39,698 (+15,629%), from €254 to €39,952
- Gross operating margin +€16,550
up €16,550 (+1,109%), from €1,492 to €18,042
- Other operating charges -€4,579
down €4,579 (-95.0%), from €4,819 to €240
- Depreciation +€1,460
up €1,460 (+411%), from €355 to €1,815
- Financial charges +€1,180
up €1,180 (+670%), from €176 to €1,356
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,303 | €23,282 | +€4,979 | +27.2% |
| Fixed assets | 21/28 | €6,944 | €6,419 | -€525 | -7.6% |
| Tangible fixed assets | 22/27 | €6,944 | €6,419 | -€525 | -7.6% |
| Plant, machinery and equipment | 23 | €3,345 | €3,193 | -€152 | -4.5% |
| Furniture and vehicles | 24 | €3,359 | €3,174 | -€185 | -5.5% |
| Leasing and similar rights | 25 | €240 | €52 | -€188 | -78.3% |
| Current assets | 29/58 | €11,359 | €16,863 | +€5,504 | +48.5% |
| Stocks and contracts in progress | 3 | €1,518 | €6,616 | +€5,098 | +336% |
| Stocks | 30/36 | €1,518 | €6,616 | +€5,098 | +336% |
| Amounts receivable within one year | 40/41 | €4,205 | €2,200 | -€2,005 | -47.7% |
| Trade receivables | 40 | €23 | €412 | +€389 | +1,691% |
| Other amounts receivable | 41 | €4,182 | €1,788 | -€2,394 | -57.2% |
| Current investments | 50/53 | €22 | €1,102 | +€1,080 | +4,909% |
| Cash at bank and in hand | 54/58 | €5,614 | €6,945 | +€1,331 | +23.7% |
| Total equity and liabilities | 10/49 | €18,303 | €23,282 | +€4,979 | +27.2% |
| Equity | 10/15 | -€214,844 | -€240,122 | -€25,278 | -11.8% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€283,444 | -€308,722 | -€25,278 | -8.9% |
| Amounts payable | 17/49 | €233,147 | €263,404 | +€30,257 | +13.0% |
| Amounts payable after more than one year | 17 | €221,915 | €214,674 | -€7,241 | -3.3% |
| Financial debts | 170/4 | €221,915 | €214,674 | -€7,241 | -3.3% |
| Amounts payable within one year | 42/48 | €11,070 | €48,730 | +€37,660 | +340% |
| Trade debts | 44 | €10,830 | €16,639 | +€5,809 | +53.6% |
| Suppliers | 440/4 | €10,830 | €16,639 | +€5,809 | +53.6% |
| Taxes, remuneration and social security | 45 | €240 | €32,091 | +€31,851 | +13,271% |
| Taxes | 450/3 | €58 | €6,525 | +€6,467 | +11,150% |
| Remuneration and social security | 454/9 | €182 | €25,566 | +€25,384 | +13,947% |
| Accrued charges and deferred income | 492/3 | €162 | - | -€162 | |
| Remuneration, social security and pensions | 62 | €254 | €39,952 | +€39,698 | +15,629% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €355 | €1,815 | +€1,460 | +411% |
| Other operating charges | 640/8 | €4,819 | €240 | -€4,579 | -95.0% |
| Gross operating margin | 9900 | €1,492 | €18,042 | +€16,550 | +1,109% |
| Operating profit (loss) | 9901 | -€3,936 | -€23,965 | -€20,029 | -509% |
| Financial income | 75/76B | - | €43 | +€43 | |
| Recurring financial income | 75 | - | €43 | +€43 | |
| Financial charges | 65/66B | €176 | €1,356 | +€1,180 | +670% |
| Recurring financial charges | 65 | €176 | €1,356 | +€1,180 | +670% |
| Profit (loss) for the period before taxes | 9903 | -€4,112 | -€25,278 | -€21,166 | -515% |
| Profit (loss) for the period | 9904 | -€4,112 | -€25,278 | -€21,166 | -515% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,112 | -€25,278 | -€21,166 | -515% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.