JAWEL: 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.
JAWEL
Largest movements
- Cash +€17,787
up €17,787 (+16.8%), from €106,116 to €123,904
mainly Net result for the year (+€37,251) and Depreciation (+€28,266)
- Tangible fixed assets +€17,126
up €17,126 (+6.7%), from €256,346 to €273,472
of which Plant, machinery and equipment: +€30,480
- Reserves +€37,251
up €37,251 (+21.4%), from €174,315 to €211,566
- Current portion of long-term debt +€11,056
up €11,056 (+54.4%), from €20,321 to €31,377
- Trade debts -€7,667
down €7,667 (-65.4%), from €11,724 to €4,057
- Other debts -€7,000
down €7,000 (-22.7%), from €30,779 to €23,779
- Depreciation +€3,347
up €3,347 (+13.4%), from €24,918 to €28,266
- Taxes -€1,640
down €1,640 (-12.4%), from €13,190 to €11,550
- Financial charges +€1,194
up €1,194 (+20.8%), from €5,752 to €6,947
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 | €410,774 | €447,758 | +€36,984 | +9.0% |
| Fixed assets | 21/28 | €256,346 | €273,472 | +€17,126 | +6.7% |
| Tangible fixed assets | 22/27 | €256,346 | €273,472 | +€17,126 | +6.7% |
| Land and buildings | 22 | €238,745 | €228,244 | -€10,501 | -4.4% |
| Plant, machinery and equipment | 23 | €12,697 | €43,177 | +€30,480 | +240% |
| Furniture and vehicles | 24 | €4,904 | €2,051 | -€2,853 | -58.2% |
| Current assets | 29/58 | €154,428 | €174,285 | +€19,858 | +12.9% |
| Stocks and contracts in progress | 3 | €30,000 | €30,011 | +€11 | 0.0% |
| Stocks | 30/36 | €30,000 | €30,011 | +€11 | 0.0% |
| Amounts receivable within one year | 40/41 | €17,141 | €16,697 | -€444 | -2.6% |
| Trade receivables | 40 | €13,831 | €16,451 | +€2,620 | +18.9% |
| Other amounts receivable | 41 | €3,310 | €246 | -€3,064 | -92.6% |
| Cash at bank and in hand | 54/58 | €106,116 | €123,904 | +€17,787 | +16.8% |
| Deferred charges and accrued income | 490/1 | €1,171 | €3,674 | +€2,503 | +214% |
| Total equity and liabilities | 10/49 | €410,774 | €447,758 | +€36,984 | +9.0% |
| Equity | 10/15 | €192,915 | €230,166 | +€37,251 | +19.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €174,315 | €211,566 | +€37,251 | +21.4% |
| Distributable reserves | 133 | €174,315 | €211,566 | +€37,251 | +21.4% |
| Amounts payable | 17/49 | €217,859 | €217,592 | -€267 | -0.1% |
| Amounts payable after more than one year | 17 | €149,439 | €153,461 | +€4,021 | +2.7% |
| Financial debts | 170/4 | €149,439 | €153,461 | +€4,021 | +2.7% |
| Amounts payable within one year | 42/48 | €68,419 | €64,131 | -€4,288 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €20,321 | €31,377 | +€11,056 | +54.4% |
| Trade debts | 44 | €11,724 | €4,057 | -€7,667 | -65.4% |
| Suppliers | 440/4 | €11,724 | €4,057 | -€7,667 | -65.4% |
| Taxes, remuneration and social security | 45 | €5,596 | €4,919 | -€677 | -12.1% |
| Taxes | 450/3 | €3,592 | €2,915 | -€677 | -18.8% |
| Remuneration and social security | 454/9 | €2,004 | €2,004 | = | 0.0% |
| Other amounts payable | 47/48 | €30,779 | €23,779 | -€7,000 | -22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,918 | €28,266 | +€3,347 | +13.4% |
| Other operating charges | 640/8 | €3,740 | €3,789 | +€49 | +1.3% |
| Gross operating margin | 9900 | €86,462 | €86,437 | -€25 | 0.0% |
| Operating profit (loss) | 9901 | €57,803 | €54,382 | -€3,421 | -5.9% |
| Financial income | 75/76B | €777 | €1,365 | +€588 | +75.6% |
| Recurring financial income | 75 | €777 | €1,365 | +€588 | +75.6% |
| Financial charges | 65/66B | €5,752 | €6,947 | +€1,194 | +20.8% |
| Recurring financial charges | 65 | €5,752 | €6,947 | +€1,194 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €52,828 | €48,801 | -€4,027 | -7.6% |
| Income taxes | 67/77 | €13,190 | €11,550 | -€1,640 | -12.4% |
| Profit (loss) for the period | 9904 | €39,638 | €37,251 | -€2,388 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,638 | €37,251 | -€2,388 | -6.0% |
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.