JSDW Management: 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.
JSDW Management
Largest movements
- Cash +€235,030
up €235,030 (+2442.6%), from €9,622 to €244,652
mainly Net result for the year (+€179,553) and Receivables within one year (+€80,611)
- Receivables within one year -€80,611
down €80,611 (-66.2%), from €121,710 to €41,099
of which Other amounts receivable: -€66,965
- Financial fixed assets +€34,940
up €34,940 (+1.7%), from €2.0m to €2.1m
- Reserves +€160,000
up €160,000 (+14.7%), from €1.1m to €1.3m
- Tax, wage and social debts +€28,240
up €28,240 (+417.8%), from €6,760 to €35,000
- Financial charges -€91,790
down €91,790 (-98.1%), from €93,583 to €1,793
of which Non-recurring financial charges: -€90,982
- Gross operating margin +€83,202
up €83,202 (+63.5%), from €131,009 to €214,211
- Financial income +€34,740
up €34,740 (+17370.0%), from €200 to €34,940
- Taxes +€32,819
up €32,819 (+102.5%), from €32,010 to €64,829
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 | €2,174,895 | €2,364,254 | +€189,359 | +8.7% |
| Fixed assets | 21/28 | €2,043,563 | €2,078,503 | +€34,940 | +1.7% |
| Financial fixed assets | 28 | €2,043,563 | €2,078,503 | +€34,940 | +1.7% |
| Current assets | 29/58 | €131,332 | €285,751 | +€154,419 | +117.6% |
| Amounts receivable within one year | 40/41 | €121,710 | €41,099 | -€80,611 | -66.2% |
| Trade receivables | 40 | €19,091 | €5,445 | -€13,646 | -71.5% |
| Other amounts receivable | 41 | €102,619 | €35,654 | -€66,965 | -65.3% |
| Cash at bank and in hand | 54/58 | €9,622 | €244,652 | +€235,030 | +2442.6% |
| Total equity and liabilities | 10/49 | €2,174,895 | €2,364,254 | +€189,359 | +8.7% |
| Equity | 10/15 | €1,105,752 | €1,285,305 | +€179,553 | +16.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,090,000 | €1,250,000 | +€160,000 | +14.7% |
| Distributable reserves | 133 | €1,090,000 | €1,250,000 | +€160,000 | +14.7% |
| Profit (loss) carried forward | 14 | €5,752 | €25,305 | +€19,553 | +339.9% |
| Amounts payable | 17/49 | €1,069,143 | €1,078,949 | +€9,806 | +0.9% |
| Amounts payable after more than one year | 17 | €1,001,160 | €1,001,160 | = | 0.0% |
| Other amounts payable | 178/9 | €1,001,160 | €1,001,160 | = | 0.0% |
| Amounts payable within one year | 42/48 | €67,983 | €77,789 | +€9,806 | +14.4% |
| Trade debts | 44 | €61,223 | €42,789 | -€18,434 | -30.1% |
| Suppliers | 440/4 | €61,223 | €42,789 | -€18,434 | -30.1% |
| Taxes, remuneration and social security | 45 | €6,760 | €35,000 | +€28,240 | +417.8% |
| Taxes | 450/3 | €6,760 | €35,000 | +€28,240 | +417.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,403 | - | -€1,403 | |
| Other operating charges | 640/8 | €2,393 | €2,976 | +€583 | +24.4% |
| Gross operating margin | 9900 | €131,009 | €214,211 | +€83,202 | +63.5% |
| Operating profit (loss) | 9901 | €127,213 | €211,235 | +€84,022 | +66.0% |
| Financial income | 75/76B | €200 | €34,940 | +€34,740 | +17370.0% |
| Recurring financial income | 75 | €200 | €34,940 | +€34,740 | +17370.0% |
| Financial charges | 65/66B | €93,583 | €1,793 | -€91,790 | -98.1% |
| Recurring financial charges | 65 | €2,601 | €1,793 | -€808 | -31.1% |
| Non-recurring financial charges | 66B | €90,982 | - | -€90,982 | |
| Profit (loss) for the period before taxes | 9903 | €33,830 | €244,382 | +€210,552 | +622.4% |
| Income taxes | 67/77 | €32,010 | €64,829 | +€32,819 | +102.5% |
| Profit (loss) for the period | 9904 | €1,820 | €179,553 | +€177,733 | +9765.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,820 | €179,553 | +€177,733 | +9765.5% |
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 4 October 2026 via checked.be.