JDW Advisory: 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.
JDW Advisory
Largest movements
- Cash -€13,406
down €13,406 (-44.7%), from €30,000 to €16,594
mainly Contributions, distributions and other (-€75,647) and Investment in fixed assets (net) (-€7,317)
- Receivables within one year +€4,407
up €4,407 (+26.7%), from €16,506 to €20,913
of which Trade receivables: +€2,514
- Tangible fixed assets -€2,856
down €2,856 (-10.1%), from €28,221 to €25,365
of which Plant, machinery and equipment: -€2,003
- Deferred charges and accrued income -€2,634
down €2,634 (-60.9%), from €4,327 to €1,693
- Other debts +€26,497
up €26,497 (+2316.7%), from €1,144 to €27,641
- Profit (loss) carried forward -€22,848
down €22,848 (-99.9%), from €22,881 to €33
- Reserves -€16,550
down €16,550 (-61.5%), from €26,900 to €10,350
- Tax, wage and social debts -€3,354
down €3,354 (-19.3%), from €17,349 to €13,996
- Current portion of long-term debt +€2,028
up €2,028 (+31.6%), from €6,417 to €8,444
- Depreciation +€4,677
up €4,677 (+85.1%), from €5,496 to €10,173
- Gross operating margin +€3,937
up €3,937 (+7.1%), from €55,317 to €59,255
- Taxes +€899
up €899 (+8.1%), from €11,055 to €11,954
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.
Cash bridge derived
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 | €79,184 | €64,696 | -€14,488 | -18.3% |
| Fixed assets | 21/28 | €28,352 | €25,496 | -€2,856 | -10.1% |
| Tangible fixed assets | 22/27 | €28,221 | €25,365 | -€2,856 | -10.1% |
| Plant, machinery and equipment | 23 | €18,079 | €16,076 | -€2,003 | -11.1% |
| Furniture and vehicles | 24 | €10,142 | €9,289 | -€853 | -8.4% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €50,832 | €39,200 | -€11,632 | -22.9% |
| Amounts receivable within one year | 40/41 | €16,506 | €20,913 | +€4,407 | +26.7% |
| Trade receivables | 40 | €16,411 | €18,925 | +€2,514 | +15.3% |
| Other amounts receivable | 41 | €95 | €1,989 | +€1,893 | +1985.4% |
| Cash at bank and in hand | 54/58 | €30,000 | €16,594 | -€13,406 | -44.7% |
| Deferred charges and accrued income | 490/1 | €4,327 | €1,693 | -€2,634 | -60.9% |
| Total equity and liabilities | 10/49 | €79,184 | €64,696 | -€14,488 | -18.3% |
| Equity | 10/15 | €51,781 | €12,383 | -€39,398 | -76.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €26,900 | €10,350 | -€16,550 | -61.5% |
| Distributable reserves | 133 | €26,900 | €10,350 | -€16,550 | -61.5% |
| Profit (loss) carried forward | 14 | €22,881 | €33 | -€22,848 | -99.9% |
| Amounts payable | 17/49 | €27,403 | €52,313 | +€24,910 | +90.9% |
| Amounts payable after more than one year | 17 | - | €824 | +€824 | |
| Financial debts | 170/4 | - | €824 | +€824 | |
| Amounts payable within one year | 42/48 | €27,403 | €51,489 | +€24,087 | +87.9% |
| Current portion of amounts payable after more than one year | 42 | €6,417 | €8,444 | +€2,028 | +31.6% |
| Trade debts | 44 | €2,493 | €1,408 | -€1,085 | -43.5% |
| Suppliers | 440/4 | €2,493 | €1,408 | -€1,085 | -43.5% |
| Taxes, remuneration and social security | 45 | €17,349 | €13,996 | -€3,354 | -19.3% |
| Taxes | 450/3 | €17,349 | €13,996 | -€3,354 | -19.3% |
| Other amounts payable | 47/48 | €1,144 | €27,641 | +€26,497 | +2316.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,496 | €10,173 | +€4,677 | +85.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €685 | €444 | -€241 | -35.1% |
| Gross operating margin | 9900 | €55,317 | €59,255 | +€3,937 | +7.1% |
| Operating profit (loss) | 9901 | €49,137 | €48,637 | -€500 | -1.0% |
| Financial income | 75/76B | €0 | €25 | +€25 | +84100.0% |
| Recurring financial income | 75 | €0 | €25 | +€25 | +84100.0% |
| Financial charges | 65/66B | €586 | €459 | -€127 | -21.6% |
| Recurring financial charges | 65 | €586 | €459 | -€127 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €48,551 | €48,203 | -€348 | -0.7% |
| Income taxes | 67/77 | €11,055 | €11,954 | +€899 | +8.1% |
| Profit (loss) for the period | 9904 | €37,496 | €36,249 | -€1,247 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,496 | €36,249 | -€1,247 | -3.3% |
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 12 October 2026 via checked.be.