J.W.L.: 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.L.
Largest movements
- Cash -€8,344
down €8,344 (-37.9%), from €22,020 to €13,676
mainly Receivables within one year (-€6,822) and Other debts (-€5,453)
- Receivables within one year +€6,822
up €6,822 (+150%), from €4,544 to €11,366
of which Trade receivables: +€3,710
- Tangible fixed assets -€3,751
down €3,751 (-54.9%), from €6,832 to €3,081
of which Other tangible fixed assets: -€3,331
- Deferred charges and accrued income -€1,182
down €1,182 (-100%), from €1,182 to €0
- Stocks and contracts +€913
up €913 (+11.1%), from €8,213 to €9,127
- Other debts -€5,453
down €5,453 (-71.7%), from €7,601 to €2,148
- Current portion of long-term debt -€3,425
down €3,425 (-66.2%), from €5,174 to €1,749
- Trade debts +€2,784
up €2,784 (+17.3%), from €16,098 to €18,882
- Short-term financial debts +€2,101
up €2,101 (+51.6%), from €4,073 to €6,174
- Profit (loss) carried forward +€2,000
up €2,000 (+54.0%), from -€3,701 to -€1,702
- Gross operating margin -€12,059
down €12,059 (-31.6%), from €38,155 to €26,096
- Staff costs -€8,653
down €8,653 (-36.7%), from €23,586 to €14,933
- Depreciation -€4,803
down €4,803 (-50.0%), from €9,603 to €4,800
- Taxes +€470
up €470 (+25.2%), from €1,863 to €2,333
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 | €42,791 | €37,250 | -€5,541 | -12.9% |
| Fixed assets | 21/28 | €6,832 | €3,081 | -€3,751 | -54.9% |
| Tangible fixed assets | 22/27 | €6,832 | €3,081 | -€3,751 | -54.9% |
| Plant, machinery and equipment | 23 | €2,637 | €2,217 | -€420 | -15.9% |
| Other tangible fixed assets | 26 | €4,195 | €864 | -€3,331 | -79.4% |
| Current assets | 29/58 | €35,959 | €34,169 | -€1,790 | -5.0% |
| Stocks and contracts in progress | 3 | €8,213 | €9,127 | +€913 | +11.1% |
| Stocks | 30/36 | €8,213 | €9,127 | +€913 | +11.1% |
| Amounts receivable within one year | 40/41 | €4,544 | €11,366 | +€6,822 | +150% |
| Trade receivables | 40 | €3,254 | €6,964 | +€3,710 | +114% |
| Other amounts receivable | 41 | €1,290 | €4,402 | +€3,112 | +241% |
| Cash at bank and in hand | 54/58 | €22,020 | €13,676 | -€8,344 | -37.9% |
| Deferred charges and accrued income | 490/1 | €1,182 | €0 | -€1,182 | -100% |
| Total equity and liabilities | 10/49 | €42,791 | €37,250 | -€5,541 | -12.9% |
| Equity | 10/15 | €6,299 | €8,298 | +€2,000 | +31.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,701 | -€1,702 | +€2,000 | +54.0% |
| Amounts payable | 17/49 | €36,492 | €28,952 | -€7,541 | -20.7% |
| Amounts payable after more than one year | 17 | €1,749 | €0 | -€1,749 | -100% |
| Financial debts | 170/4 | €1,749 | €0 | -€1,749 | -100% |
| Amounts payable within one year | 42/48 | €34,744 | €28,952 | -€5,792 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €5,174 | €1,749 | -€3,425 | -66.2% |
| Financial debts | 43 | €4,073 | €6,174 | +€2,101 | +51.6% |
| Credit institutions | 430/8 | €4,073 | €6,174 | +€2,101 | +51.6% |
| Trade debts | 44 | €16,098 | €18,882 | +€2,784 | +17.3% |
| Suppliers | 440/4 | €16,098 | €18,882 | +€2,784 | +17.3% |
| Taxes, remuneration and social security | 45 | €1,799 | €0 | -€1,799 | -100% |
| Remuneration and social security | 454/9 | €1,799 | €0 | -€1,799 | -100% |
| Other amounts payable | 47/48 | €7,601 | €2,148 | -€5,453 | -71.7% |
| Non-recurring operating income | 76A | €2,032 | €0 | -€2,032 | -100% |
| Remuneration, social security and pensions | 62 | €23,586 | €14,933 | -€8,653 | -36.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,603 | €4,800 | -€4,803 | -50.0% |
| Other operating charges | 640/8 | €904 | €877 | -€27 | -3.0% |
| Gross operating margin | 9900 | €38,155 | €26,096 | -€12,059 | -31.6% |
| Operating profit (loss) | 9901 | €4,061 | €5,487 | +€1,426 | +35.1% |
| Financial income | 75/76B | €24 | €11 | -€13 | -54.6% |
| Recurring financial income | 75 | €24 | €11 | -€13 | -54.6% |
| Financial charges | 65/66B | €1,258 | €1,165 | -€93 | -7.4% |
| Recurring financial charges | 65 | €1,258 | €1,165 | -€93 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €2,827 | €4,333 | +€1,505 | +53.2% |
| Income taxes | 67/77 | €1,863 | €2,333 | +€470 | +25.2% |
| Profit (loss) for the period | 9904 | €965 | €2,000 | +€1,035 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €965 | €2,000 | +€1,035 | +107% |
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 23 October 2026 via checked.be.