JELWICO: what changed
Two fiscal 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.
JELWICO
Largest movements
- Tangible fixed assets +€2.1m
up €2.1m (+50.3%), from €4.3m to €6.4m
- Cash -€1.6m
down €1.6m (-80.0%), from €2.0m to €397,199
mainly Investment in fixed assets (net) (-€2.3m) and Contributions, distributions and other (-€600,000)
- Receivables within one year -€428,853
down €428,853 (-93.9%), from €456,926 to €28,073
of which Trade receivables: -€442,406
- Profit (loss) carried forward -€728,794
down €728,794 (-66.8%), from €1.1m to €362,269
- Contributions +€343,965
up €343,965 (+12.1%), from €2.9m to €3.2m
- Reserves +€339,306
up €339,306 (+13.5%), from €2.5m to €2.9m
of which Distributable reserves: +€624,655
- Other debts +€284,905
up €284,905 (+249.2%), from €114,317 to €399,222
- Tax, wage and social debts -€126,195
down €126,195 (-96.7%), from €130,453 to €4,258
- Gross operating margin -€150,557
down €150,557 (-14.2%), from €1.1m to €908,058
- Financial income +€38,337
up €38,337 (+100.8%), from €38,037 to €76,374
- Taxes -€34,477
down €34,477 (-12.0%), from €286,877 to €252,400
- Depreciation -€32,047
down €32,047 (-19.4%), from €165,478 to €133,431
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 | €6,716,349 | €6,837,035 | +€120,686 | +1.8% |
| Fixed assets | 21/28 | €4,262,694 | €6,405,763 | +€2.1m | +50.3% |
| Tangible fixed assets | 22/27 | €4,262,694 | €6,405,763 | +€2.1m | +50.3% |
| Land and buildings | 22 | €4,262,694 | €6,405,763 | +€2.1m | +50.3% |
| Current assets | 29/58 | €2,453,655 | €431,272 | -€2.0m | -82.4% |
| Stocks and contracts in progress | 3 | €7,500 | €6,000 | -€1,500 | -20.0% |
| Stocks | 30/36 | €7,500 | €6,000 | -€1,500 | -20.0% |
| Amounts receivable within one year | 40/41 | €456,926 | €28,073 | -€428,853 | -93.9% |
| Trade receivables | 40 | €456,926 | €14,520 | -€442,406 | -96.8% |
| Other amounts receivable | 41 | - | €13,553 | +€13,553 | |
| Cash at bank and in hand | 54/58 | €1,989,229 | €397,199 | -€1.6m | -80.0% |
| Total equity and liabilities | 10/49 | €6,716,349 | €6,837,035 | +€120,686 | +1.8% |
| Equity | 10/15 | €6,461,673 | €6,416,150 | -€45,523 | -0.7% |
| Contributions | 10/11 | €2,853,488 | €3,197,453 | +€343,965 | +12.1% |
| Reserves | 13 | €2,517,122 | €2,856,428 | +€339,306 | +13.5% |
| Non-distributable reserves | 130/1 | €285,349 | - | -€285,349 | |
| Reserves not available under the articles | 1311 | €285,349 | - | -€285,349 | |
| Distributable reserves | 133 | €2,231,773 | €2,856,428 | +€624,655 | +28.0% |
| Profit (loss) carried forward | 14 | €1,091,063 | €362,269 | -€728,794 | -66.8% |
| Amounts payable | 17/49 | €254,676 | €420,885 | +€166,209 | +65.3% |
| Amounts payable within one year | 42/48 | €254,676 | €420,885 | +€166,209 | +65.3% |
| Trade debts | 44 | €9,906 | €17,405 | +€7,499 | +75.7% |
| Suppliers | 440/4 | €9,906 | €17,405 | +€7,499 | +75.7% |
| Taxes, remuneration and social security | 45 | €130,453 | €4,258 | -€126,195 | -96.7% |
| Taxes | 450/3 | €130,453 | €4,258 | -€126,195 | -96.7% |
| Other amounts payable | 47/48 | €114,317 | €399,222 | +€284,905 | +249.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,478 | €133,431 | -€32,047 | -19.4% |
| Other operating charges | 640/8 | €25,855 | €35,770 | +€9,915 | +38.3% |
| Gross operating margin | 9900 | €1,058,615 | €908,058 | -€150,557 | -14.2% |
| Operating profit (loss) | 9901 | €867,282 | €738,857 | -€128,425 | -14.8% |
| Financial income | 75/76B | €38,037 | €76,374 | +€38,337 | +100.8% |
| Recurring financial income | 75 | €38,037 | €76,374 | +€38,337 | +100.8% |
| Financial charges | 65/66B | €8,377 | €8,354 | -€23 | -0.3% |
| Recurring financial charges | 65 | €8,377 | €8,354 | -€23 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €896,942 | €806,877 | -€90,065 | -10.0% |
| Transfer from deferred taxes | 780 | €6,235 | - | -€6,235 | |
| Income taxes | 67/77 | €286,877 | €252,400 | -€34,477 | -12.0% |
| Profit (loss) for the period | 9904 | €616,300 | €554,477 | -€61,823 | -10.0% |
| Transfer from tax-exempt reserves | 789 | €12,103 | €215,171 | +€203,068 | +1677.8% |
| Profit (loss) for the period to be appropriated | 9905 | €628,403 | €769,648 | +€141,245 | +22.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.