JGW Management Services: 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.
JGW Management Services
Largest movements
- Cash +€17,400
up €17,400 (+363%), from €4,791 to €22,191
mainly Other debts (+€33,200) and Tax, wage and social debts (+€18,618)
- Tangible fixed assets -€16,450
down €16,450 (-19.8%), from €83,221 to €66,772
of which Furniture and vehicles: -€9,152
- Receivables within one year -€13,602
down €13,602 (-92.0%), from €14,780 to €1,178
of which Trade receivables: -€13,310
- Deferred charges and accrued income +€2,917
up €2,917 (+121%), from €2,407 to €5,324
- Profit (loss) carried forward -€51,158
down €51,158 (-99.7%), from €51,336 to €179
- Other debts +€33,200
up €33,200 (+131%), from €25,350 to €58,550
- Tax, wage and social debts +€18,618
up €18,618 (+199%), from €9,377 to €27,995
of which Taxes: +€18,618
- Current portion of long-term debt -€13,036
no longer reported in 2025 (was €13,036)
- Trade debts +€2,641
up €2,641 (+2,643%), from €100 to €2,741
- Gross operating margin +€8,330
up €8,330 (+28.0%), from €29,752 to €38,082
- Depreciation +€1,897
up €1,897 (+13.0%), from €14,552 to €16,450
- Taxes +€1,600
up €1,600 (+25.3%), from €6,322 to €7,922
- Financial charges -€488
down €488 (-36.0%), from €1,355 to €867
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 | €105,199 | €95,464 | -€9,735 | -9.3% |
| Fixed assets | 21/28 | €83,221 | €66,772 | -€16,450 | -19.8% |
| Tangible fixed assets | 22/27 | €83,221 | €66,772 | -€16,450 | -19.8% |
| Plant, machinery and equipment | 23 | €1,799 | €1,167 | -€632 | -35.1% |
| Furniture and vehicles | 24 | €27,872 | €18,719 | -€9,152 | -32.8% |
| Other tangible fixed assets | 26 | €53,551 | €46,885 | -€6,665 | -12.4% |
| Current assets | 29/58 | €21,978 | €28,693 | +€6,714 | +30.6% |
| Amounts receivable within one year | 40/41 | €14,780 | €1,178 | -€13,602 | -92.0% |
| Trade receivables | 40 | €13,310 | - | -€13,310 | |
| Other amounts receivable | 41 | €1,470 | €1,178 | -€292 | -19.9% |
| Cash at bank and in hand | 54/58 | €4,791 | €22,191 | +€17,400 | +363% |
| Deferred charges and accrued income | 490/1 | €2,407 | €5,324 | +€2,917 | +121% |
| Total equity and liabilities | 10/49 | €105,199 | €95,464 | -€9,735 | -9.3% |
| Equity | 10/15 | €57,336 | €6,179 | -€51,158 | -89.2% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,336 | €179 | -€51,158 | -99.7% |
| Amounts payable | 17/49 | €47,863 | €89,286 | +€41,423 | +86.5% |
| Amounts payable within one year | 42/48 | €47,863 | €89,286 | +€41,423 | +86.5% |
| Current portion of amounts payable after more than one year | 42 | €13,036 | - | -€13,036 | |
| Trade debts | 44 | €100 | €2,741 | +€2,641 | +2,643% |
| Suppliers | 440/4 | €100 | €2,741 | +€2,641 | +2,643% |
| Taxes, remuneration and social security | 45 | €9,377 | €27,995 | +€18,618 | +199% |
| Taxes | 450/3 | €6,877 | €25,495 | +€18,618 | +271% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €25,350 | €58,550 | +€33,200 | +131% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,552 | €16,450 | +€1,897 | +13.0% |
| Other operating charges | 640/8 | €751 | €1,093 | +€342 | +45.6% |
| Gross operating margin | 9900 | €29,752 | €38,082 | +€8,330 | +28.0% |
| Operating profit (loss) | 9901 | €14,449 | €20,540 | +€6,091 | +42.2% |
| Financial income | 75/76B | €174 | €91 | -€83 | -47.5% |
| Recurring financial income | 75 | €174 | €91 | -€83 | -47.5% |
| Financial charges | 65/66B | €1,355 | €867 | -€488 | -36.0% |
| Recurring financial charges | 65 | €1,355 | €867 | -€488 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €13,268 | €19,764 | +€6,496 | +49.0% |
| Income taxes | 67/77 | €6,322 | €7,922 | +€1,600 | +25.3% |
| Profit (loss) for the period | 9904 | €6,946 | €11,842 | +€4,897 | +70.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,946 | €11,842 | +€4,897 | +70.5% |
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 26 October 2026 via checked.be.