JNWSM: 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.
JNWSM
Largest movements
- Deferred charges and accrued income +€37,110
up €37,110 (+350.9%), from €10,574 to €47,684
- Cash +€32,859
up €32,859 (+1401.4%), from €2,345 to €35,204
mainly Net result for the year (+€67,363) and Receivables within one year (+€6,336)
- Receivables within one year -€6,336
down €6,336 (-13.5%), from €47,009 to €40,673
- Tangible fixed assets +€2,550
new in 2025: €2,550
- Reserves +€67,363
up €67,363 (+189.5%), from €35,553 to €102,917
- Gross operating margin +€37,488
up €37,488 (+80.9%), from €46,341 to €83,829
- Taxes +€5,791
up €5,791 (+47.5%), from €12,189 to €17,980
- Financial income +€951
up €951 (+66.8%), from €1,425 to €2,376
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 | €59,928 | €126,111 | +€66,183 | +110.4% |
| Fixed assets | 21/28 | - | €2,550 | +€2,550 | |
| Tangible fixed assets | 22/27 | - | €2,550 | +€2,550 | |
| Other tangible fixed assets | 26 | - | €2,550 | +€2,550 | |
| Current assets | 29/58 | €59,928 | €123,561 | +€63,633 | +106.2% |
| Amounts receivable within one year | 40/41 | €47,009 | €40,673 | -€6,336 | -13.5% |
| Other amounts receivable | 41 | €47,009 | €40,673 | -€6,336 | -13.5% |
| Cash at bank and in hand | 54/58 | €2,345 | €35,204 | +€32,859 | +1401.4% |
| Deferred charges and accrued income | 490/1 | €10,574 | €47,684 | +€37,110 | +350.9% |
| Total equity and liabilities | 10/49 | €59,928 | €126,111 | +€66,183 | +110.4% |
| Equity | 10/15 | €38,553 | €105,917 | +€67,363 | +174.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €35,553 | €102,917 | +€67,363 | +189.5% |
| Distributable reserves | 133 | €35,553 | €102,917 | +€67,363 | +189.5% |
| Amounts payable | 17/49 | €21,374 | €20,194 | -€1,180 | -5.5% |
| Amounts payable within one year | 42/48 | €21,374 | €20,194 | -€1,180 | -5.5% |
| Trade debts | 44 | €2,285 | €2,214 | -€71 | -3.1% |
| Suppliers | 440/4 | €2,285 | €2,214 | -€71 | -3.1% |
| Taxes, remuneration and social security | 45 | €19,089 | €17,980 | -€1,109 | -5.8% |
| Taxes | 450/3 | €14,189 | €17,980 | +€3,791 | +26.7% |
| Remuneration and social security | 454/9 | €4,900 | - | -€4,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €318 | +€318 | |
| Other operating charges | 640/8 | - | €513 | +€513 | |
| Gross operating margin | 9900 | €46,341 | €83,829 | +€37,488 | +80.9% |
| Operating profit (loss) | 9901 | €46,341 | €82,997 | +€36,656 | +79.1% |
| Financial income | 75/76B | €1,425 | €2,376 | +€951 | +66.8% |
| Recurring financial income | 75 | €1,425 | €2,376 | +€951 | +66.8% |
| Financial charges | 65/66B | €23 | €30 | +€7 | +28.4% |
| Recurring financial charges | 65 | €23 | €30 | +€7 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | €47,742 | €85,343 | +€37,601 | +78.8% |
| Income taxes | 67/77 | €12,189 | €17,980 | +€5,791 | +47.5% |
| Profit (loss) for the period | 9904 | €35,553 | €67,363 | +€31,810 | +89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,553 | €67,363 | +€31,810 | +89.5% |
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 2 October 2026 via checked.be.