J.W.M: 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.M
Largest movements
- Tangible fixed assets -€16,487
down €16,487 (-4.4%), from €376,540 to €360,053
- Profit (loss) carried forward -€9,012
down €9,012 (-33.4%), from -€26,946 to -€35,957
- Reserves -€6,110
down €6,110 (-5.8%), from €105,297 to €99,187
of which Tax-exempt reserves: -€6,110
- Other operating charges +€251
up €251 (+14.7%), from €1,714 to €1,966
- Gross operating margin -€185
down €185 (-12.9%), from €1,440 to €1,254
- Depreciation +€104
up €104 (+0.6%), from €16,383 to €16,487
- Financial charges +€27
up €27 (+35.5%), from €77 to €104
- Taxes -€15
down €15 (-24.8%), from €61 to €46
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 | €399,748 | €381,920 | -€17,828 | -4.5% |
| Fixed assets | 21/28 | €376,540 | €360,053 | -€16,487 | -4.4% |
| Tangible fixed assets | 22/27 | €376,540 | €360,053 | -€16,487 | -4.4% |
| Land and buildings | 22 | €376,540 | €360,053 | -€16,487 | -4.4% |
| Current assets | 29/58 | €23,208 | €21,867 | -€1,341 | -5.8% |
| Current investments | 50/53 | €19,350 | €18,469 | -€881 | -4.6% |
| Cash at bank and in hand | 54/58 | €3,108 | €2,648 | -€460 | -14.8% |
| Deferred charges and accrued income | 490/1 | €750 | €750 | = | 0.0% |
| Total equity and liabilities | 10/49 | €399,748 | €381,920 | -€17,828 | -4.5% |
| Equity | 10/15 | €153,351 | €138,230 | -€15,122 | -9.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €105,297 | €99,187 | -€6,110 | -5.8% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €94,797 | €88,687 | -€6,110 | -6.4% |
| Distributable reserves | 133 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,946 | -€35,957 | -€9,012 | -33.4% |
| Provisions and deferred taxes | 16 | €73,871 | €71,834 | -€2,037 | -2.8% |
| Deferred taxes | 168 | €73,871 | €71,834 | -€2,037 | -2.8% |
| Amounts payable | 17/49 | €172,526 | €171,856 | -€670 | -0.4% |
| Amounts payable within one year | 42/48 | €172,526 | €171,856 | -€670 | -0.4% |
| Trade debts | 44 | €62 | €85 | +€22 | +35.8% |
| Suppliers | 440/4 | €62 | €85 | +€22 | +35.8% |
| Other amounts payable | 47/48 | €172,463 | €171,772 | -€692 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,383 | €16,487 | +€104 | +0.6% |
| Other operating charges | 640/8 | €1,714 | €1,966 | +€251 | +14.7% |
| Gross operating margin | 9900 | €1,440 | €1,254 | -€185 | -12.9% |
| Operating profit (loss) | 9901 | -€16,658 | -€17,199 | -€541 | -3.2% |
| Financial income | 75/76B | €204 | €191 | -€13 | -6.4% |
| Recurring financial income | 75 | €204 | €191 | -€13 | -6.4% |
| Financial charges | 65/66B | €77 | €104 | +€27 | +35.5% |
| Recurring financial charges | 65 | €77 | €104 | +€27 | +35.5% |
| Profit (loss) for the period before taxes | 9903 | -€16,531 | -€17,112 | -€581 | -3.5% |
| Transfer from deferred taxes | 780 | €2,037 | €2,037 | = | 0.0% |
| Income taxes | 67/77 | €61 | €46 | -€15 | -24.8% |
| Profit (loss) for the period | 9904 | -€14,555 | -€15,122 | -€566 | -3.9% |
| Transfer from tax-exempt reserves | 789 | €6,110 | €6,110 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,445 | -€9,012 | -€566 | -6.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.