JRSDW: 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.
JRSDW
Largest movements
- Cash +€234,025
up €234,025 (+243.9%), from €95,949 to €329,974
mainly Net result for the year (+€349,487) and Tax, wage and social debts (+€10,630)
- Receivables within one year +€117,957
up €117,957 (+1420.3%), from €8,305 to €126,262
of which Trade receivables: +€117,957
- Reserves +€349,487
up €349,487 (+424.8%), from €82,271 to €431,758
- Tax, wage and social debts +€10,630
up €10,630 (+125.7%), from €8,455 to €19,085
- Other debts -€6,283
down €6,283 (-93.5%), from €6,717 to €434
- Gross operating margin +€356,402
up €356,402 (+340.5%), from €104,663 to €461,065
- Taxes +€89,180
up €89,180 (+411.1%), from €21,695 to €110,875
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 | €110,442 | €464,277 | +€353,835 | +320.4% |
| Fixed assets | 21/28 | - | €769 | +€769 | |
| Tangible fixed assets | 22/27 | - | €769 | +€769 | |
| Plant, machinery and equipment | 23 | - | €769 | +€769 | |
| Current assets | 29/58 | €110,442 | €463,508 | +€353,066 | +319.7% |
| Amounts receivable within one year | 40/41 | €8,305 | €126,262 | +€117,957 | +1420.3% |
| Trade receivables | 40 | - | €117,957 | +€117,957 | |
| Other amounts receivable | 41 | €8,305 | €8,305 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €95,949 | €329,974 | +€234,025 | +243.9% |
| Deferred charges and accrued income | 490/1 | €6,189 | €7,273 | +€1,084 | +17.5% |
| Total equity and liabilities | 10/49 | €110,442 | €464,277 | +€353,835 | +320.4% |
| Equity | 10/15 | €83,271 | €432,758 | +€349,487 | +419.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €82,271 | €431,758 | +€349,487 | +424.8% |
| Distributable reserves | 133 | €82,271 | €431,758 | +€349,487 | +424.8% |
| Amounts payable | 17/49 | €27,172 | €31,519 | +€4,348 | +16.0% |
| Amounts payable within one year | 42/48 | €15,172 | €19,519 | +€4,348 | +28.7% |
| Taxes, remuneration and social security | 45 | €8,455 | €19,085 | +€10,630 | +125.7% |
| Taxes | 450/3 | €8,455 | €19,085 | +€10,630 | +125.7% |
| Other amounts payable | 47/48 | €6,717 | €434 | -€6,283 | -93.5% |
| Accrued charges and deferred income | 492/3 | €12,000 | €12,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €173 | +€173 | |
| Other operating charges | 640/8 | €659 | €672 | +€12 | +1.9% |
| Gross operating margin | 9900 | €104,663 | €461,065 | +€356,402 | +340.5% |
| Operating profit (loss) | 9901 | €104,004 | €460,221 | +€356,217 | +342.5% |
| Financial income | 75/76B | €2 | €187 | +€185 | +9232.5% |
| Recurring financial income | 75 | €2 | €187 | +€185 | +9232.5% |
| Financial charges | 65/66B | €40 | €45 | +€5 | +11.8% |
| Recurring financial charges | 65 | €40 | €45 | +€5 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €103,966 | €460,362 | +€356,397 | +342.8% |
| Income taxes | 67/77 | €21,695 | €110,875 | +€89,180 | +411.1% |
| Profit (loss) for the period | 9904 | €82,271 | €349,487 | +€267,216 | +324.8% |
| Profit (loss) for the period to be appropriated | 9905 | €82,271 | €349,487 | +€267,216 | +324.8% |
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 8 October 2026 via checked.be.