JEF DE WITTE: 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.
JEF DE WITTE
Largest movements
- Cash +€37,274
up €37,274 (+69.1%), from €53,910 to €91,183
mainly Net result for the year (+€63,039) and Depreciation (+€20,622)
- Receivables within one year +€32,796
up €32,796 (+94.6%), from €34,674 to €67,470
of which Trade receivables: +€36,015
- Stocks and contracts +€19,083
up €19,083 (+23.1%), from €82,456 to €101,538
of which Contracts in progress: +€11,542
- Tangible fixed assets -€12,116
down €12,116 (-6.2%), from €195,557 to €183,441
of which Furniture and vehicles: -€6,317
- Reserves +€63,039
up €63,039 (+20.7%), from €304,655 to €367,695
of which Distributable reserves: +€63,039
- Trade debts +€17,011
up €17,011 (+114%), from €14,883 to €31,893
- Gross operating margin +€80,497
up €80,497 (+150%), from €53,808 to €134,305
- Taxes +€16,619
up €16,619 (+126%), from €13,194 to €29,813
- Depreciation +€7,291
up €7,291 (+54.7%), from €13,331 to €20,622
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 | €369,461 | €446,873 | +€77,412 | +21.0% |
| Fixed assets | 21/28 | €195,557 | €183,441 | -€12,116 | -6.2% |
| Tangible fixed assets | 22/27 | €195,557 | €183,441 | -€12,116 | -6.2% |
| Land and buildings | 22 | €144,413 | €144,413 | = | 0.0% |
| Plant, machinery and equipment | 23 | €35,754 | €29,955 | -€5,800 | -16.2% |
| Furniture and vehicles | 24 | €15,390 | €9,073 | -€6,317 | -41.0% |
| Current assets | 29/58 | €173,903 | €263,432 | +€89,529 | +51.5% |
| Stocks and contracts in progress | 3 | €82,456 | €101,538 | +€19,083 | +23.1% |
| Stocks | 30/36 | €75,397 | €82,938 | +€7,541 | +10.0% |
| Contracts in progress | 37 | €7,058 | €18,600 | +€11,542 | +164% |
| Amounts receivable within one year | 40/41 | €34,674 | €67,470 | +€32,796 | +94.6% |
| Trade receivables | 40 | €30,367 | €66,382 | +€36,015 | +119% |
| Other amounts receivable | 41 | €4,306 | €1,087 | -€3,219 | -74.8% |
| Cash at bank and in hand | 54/58 | €53,910 | €91,183 | +€37,274 | +69.1% |
| Deferred charges and accrued income | 490/1 | €2,864 | €3,240 | +€376 | +13.1% |
| Total equity and liabilities | 10/49 | €369,461 | €446,873 | +€77,412 | +21.0% |
| Equity | 10/15 | €323,255 | €386,295 | +€63,039 | +19.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €304,655 | €367,695 | +€63,039 | +20.7% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €304,655 | €367,695 | +€63,039 | +20.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €46,205 | €60,578 | +€14,373 | +31.1% |
| Amounts payable within one year | 42/48 | €46,205 | €60,578 | +€14,373 | +31.1% |
| Trade debts | 44 | €14,883 | €31,893 | +€17,011 | +114% |
| Suppliers | 440/4 | €14,883 | €31,893 | +€17,011 | +114% |
| Taxes, remuneration and social security | 45 | €982 | €254 | -€727 | -74.1% |
| Taxes | 450/3 | €982 | €254 | -€727 | -74.1% |
| Other amounts payable | 47/48 | €30,341 | €28,431 | -€1,911 | -6.3% |
| Non-recurring operating income | 76A | €5,000 | €0 | -€5,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,331 | €20,622 | +€7,291 | +54.7% |
| Other operating charges | 640/8 | €1,455 | €1,210 | -€245 | -16.8% |
| Non-recurring operating charges | 66A | €0 | €19,450 | +€19,450 | |
| Gross operating margin | 9900 | €53,808 | €134,305 | +€80,497 | +150% |
| Operating profit (loss) | 9901 | €39,022 | €93,023 | +€54,001 | +138% |
| Financial income | 75/76B | €7 | €0 | -€7 | -100% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -100% |
| Financial charges | 65/66B | €242 | €170 | -€72 | -29.6% |
| Recurring financial charges | 65 | €242 | €170 | -€72 | -29.6% |
| Profit (loss) for the period before taxes | 9903 | €38,787 | €92,852 | +€54,065 | +139% |
| Transfer from deferred taxes | 780 | €450 | €0 | -€450 | -100% |
| Income taxes | 67/77 | €13,194 | €29,813 | +€16,619 | +126% |
| Profit (loss) for the period | 9904 | €26,044 | €63,039 | +€36,996 | +142% |
| Transfer from tax-exempt reserves | 789 | €1,350 | €0 | -€1,350 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €27,394 | €63,039 | +€35,646 | +130% |
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 16 October 2026 via checked.be.