JSWIN: 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.
JSWIN
Largest movements
- Cash +€83,240
up €83,240 (+1266.1%), from €6,575 to €89,815
mainly Current investments (+€70,000) and Net result for the year (+€43,635)
- Current investments -€70,000
down €70,000 (-100.0%), from €70,000 to €0
- Reserves +€43,635
up €43,635 (+4.2%), from €1.0m to €1.1m
- Financial income -€89,335
down €89,335 (-59.3%), from €150,735 to €61,400
- Gross operating margin +€9,596
up €9,596 (+53.7%), from €17,872 to €27,468
- Taxes -€7,941
down €7,941 (-64.1%), from €12,389 to €4,448
- Financial charges +€1,806
up €1,806 (+8.3%), from €21,645 to €23,452
- Depreciation +€789
up €789 (+6.3%), from €12,438 to €13,228
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 | €1,555,962 | €1,573,297 | +€17,335 | +1.1% |
| Fixed assets | 21/28 | €1,455,220 | €1,450,340 | -€4,880 | -0.3% |
| Tangible fixed assets | 22/27 | €1,181,143 | €1,176,263 | -€4,880 | -0.4% |
| Land and buildings | 22 | €1,174,105 | €1,172,332 | -€1,773 | -0.2% |
| Plant, machinery and equipment | 23 | €3,144 | €1,897 | -€1,247 | -39.7% |
| Furniture and vehicles | 24 | €3,894 | €2,034 | -€1,860 | -47.8% |
| Financial fixed assets | 28 | €274,077 | €274,077 | = | 0.0% |
| Current assets | 29/58 | €100,742 | €122,957 | +€22,215 | +22.1% |
| Amounts receivable within one year | 40/41 | €16,757 | €25,412 | +€8,655 | +51.6% |
| Trade receivables | 40 | €15,695 | €24,382 | +€8,688 | +55.4% |
| Other amounts receivable | 41 | €1,063 | €1,030 | -€33 | -3.1% |
| Current investments | 50/53 | €70,000 | €0 | -€70,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €6,575 | €89,815 | +€83,240 | +1266.1% |
| Deferred charges and accrued income | 490/1 | €7,410 | €7,730 | +€320 | +4.3% |
| Total equity and liabilities | 10/49 | €1,555,962 | €1,573,297 | +€17,335 | +1.1% |
| Equity | 10/15 | €1,068,320 | €1,111,955 | +€43,635 | +4.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,049,770 | €1,093,405 | +€43,635 | +4.2% |
| Distributable reserves | 133 | €1,049,770 | €1,093,405 | +€43,635 | +4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €487,642 | €461,342 | -€26,300 | -5.4% |
| Amounts payable after more than one year | 17 | €443,615 | €429,810 | -€13,806 | -3.1% |
| Financial debts | 170/4 | €437,676 | €416,894 | -€20,783 | -4.7% |
| Other amounts payable | 178/9 | €5,939 | €12,916 | +€6,977 | +117.5% |
| Amounts payable within one year | 42/48 | €43,817 | €31,532 | -€12,285 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €20,019 | €20,783 | +€764 | +3.8% |
| Trade debts | 44 | €11,630 | €4,753 | -€6,877 | -59.1% |
| Suppliers | 440/4 | €11,630 | €4,753 | -€6,877 | -59.1% |
| Taxes, remuneration and social security | 45 | €12,168 | €5,997 | -€6,172 | -50.7% |
| Taxes | 450/3 | €12,168 | €4,268 | -€7,900 | -64.9% |
| Remuneration and social security | 454/9 | - | €1,728 | +€1,728 | |
| Accrued charges and deferred income | 492/3 | €210 | €0 | -€210 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,438 | €13,228 | +€789 | +6.3% |
| Other operating charges | 640/8 | €4,028 | €4,106 | +€78 | +1.9% |
| Gross operating margin | 9900 | €17,872 | €27,468 | +€9,596 | +53.7% |
| Operating profit (loss) | 9901 | €1,406 | €10,135 | +€8,729 | +620.9% |
| Financial income | 75/76B | €150,735 | €61,400 | -€89,335 | -59.3% |
| Recurring financial income | 75 | €150,735 | €61,400 | -€89,335 | -59.3% |
| Financial charges | 65/66B | €21,645 | €23,452 | +€1,806 | +8.3% |
| Recurring financial charges | 65 | €21,645 | €23,452 | +€1,806 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €130,495 | €48,083 | -€82,412 | -63.2% |
| Income taxes | 67/77 | €12,389 | €4,448 | -€7,941 | -64.1% |
| Profit (loss) for the period | 9904 | €118,107 | €43,635 | -€74,471 | -63.1% |
| Profit (loss) for the period to be appropriated | 9905 | €118,107 | €43,635 | -€74,471 | -63.1% |
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 12 October 2026 via checked.be.