J.W.H.: 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.W.H.
Largest movements
- Cash +€108,887
up €108,887 (+111%), from €98,307 to €207,194
mainly Net result for the year (+€131,190) and Other debts (+€42,399)
- Tangible fixed assets -€13,571
down €13,571 (-22.3%), from €60,837 to €47,267
of which Furniture and vehicles: -€9,740
- Other debts +€42,399
up €42,399 (+49.9%), from €84,919 to €127,319
- Tax, wage and social debts +€38,902
up €38,902 (+249%), from €15,651 to €54,553
- Reserves +€30,000
up €30,000 (+195%), from €15,373 to €45,373
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Gross operating margin +€119,283
up €119,283 (+137%), from €86,753 to €206,035
- Turnover +€86,587
up €86,587 (+37.6%), from €230,564 to €317,151
- Taxes +€38,902
up €38,902 (+249%), from €15,651 to €54,553
- Purchases and services -€32,695
down €32,695 (-22.7%), from €143,811 to €111,116
- Financial charges -€3,783
down €3,783 (-95.4%), from €3,966 to €183
of which Non-recurring financial charges: -€3,764
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 | €169,807 | €263,685 | +€93,877 | +55.3% |
| Fixed assets | 21/28 | €63,772 | €50,202 | -€13,571 | -21.3% |
| Tangible fixed assets | 22/27 | €60,837 | €47,267 | -€13,571 | -22.3% |
| Plant, machinery and equipment | 23 | €8,035 | €4,204 | -€3,831 | -47.7% |
| Furniture and vehicles | 24 | €52,802 | €43,062 | -€9,740 | -18.4% |
| Financial fixed assets | 28 | €2,935 | €2,935 | = | 0.0% |
| Current assets | 29/58 | €106,035 | €213,483 | +€107,448 | +101% |
| Amounts receivable within one year | 40/41 | €7,728 | €6,289 | -€1,439 | -18.6% |
| Trade receivables | 40 | €1,589 | - | -€1,589 | |
| Other amounts receivable | 41 | €6,139 | €6,289 | +€150 | +2.4% |
| Cash at bank and in hand | 54/58 | €98,307 | €207,194 | +€108,887 | +111% |
| Total equity and liabilities | 10/49 | €169,807 | €263,685 | +€93,877 | +55.3% |
| Equity | 10/15 | €50,473 | €63,063 | +€12,590 | +24.9% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €15,373 | €45,373 | +€30,000 | +195% |
| Distributable reserves | 133 | €15,373 | €45,373 | +€30,000 | +195% |
| Profit (loss) carried forward | 14 | €16,500 | €17,690 | +€1,190 | +7.2% |
| Provisions and deferred taxes | 16 | €18,750 | €18,750 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €18,750 | €18,750 | = | 0.0% |
| Pensions and similar obligations | 160 | - | €18,750 | +€18,750 | |
| Environmental obligations | 163 | €18,750 | - | -€18,750 | |
| Amounts payable | 17/49 | €100,584 | €181,872 | +€81,287 | +80.8% |
| Amounts payable within one year | 42/48 | €100,584 | €181,872 | +€81,287 | +80.8% |
| Trade debts | 44 | €14 | - | -€14 | |
| Suppliers | 440/4 | €14 | - | -€14 | |
| Taxes, remuneration and social security | 45 | €15,651 | €54,553 | +€38,902 | +249% |
| Taxes | 450/3 | €15,651 | €54,553 | +€38,902 | +249% |
| Other amounts payable | 47/48 | €84,919 | €127,319 | +€42,399 | +49.9% |
| Turnover | 70 | €230,564 | €317,151 | +€86,587 | +37.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €143,811 | €111,116 | -€32,695 | -22.7% |
| Remuneration, social security and pensions | 62 | €1,125 | - | -€1,125 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,605 | €19,570 | -€1,035 | -5.0% |
| Other operating charges | 640/8 | €393 | €539 | +€146 | +37.3% |
| Gross operating margin | 9900 | €86,753 | €206,035 | +€119,283 | +137% |
| Operating profit (loss) | 9901 | €64,630 | €185,926 | +€121,296 | +188% |
| Financial charges | 65/66B | €3,966 | €183 | -€3,783 | -95.4% |
| Recurring financial charges | 65 | €202 | €183 | -€19 | -9.4% |
| Non-recurring financial charges | 66B | €3,764 | - | -€3,764 | |
| Profit (loss) for the period before taxes | 9903 | €60,664 | €185,743 | +€125,079 | +206% |
| Income taxes | 67/77 | €15,651 | €54,553 | +€38,902 | +249% |
| Profit (loss) for the period | 9904 | €45,013 | €131,190 | +€86,177 | +191% |
| Profit (loss) for the period to be appropriated | 9905 | €45,013 | €131,190 | +€86,177 | +191% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.