Just Walewski: 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.
Just Walewski
Largest movements
- Cash +€56,454
up €56,454 (+493.0%), from €11,450 to €67,904
mainly Net result for the year (+€55,120) and Accrued charges and deferred income (+€23,154)
- Receivables within one year +€24,583
up €24,583 (+920.0%), from €2,672 to €27,255
of which Trade receivables: +€22,398
- Stocks and contracts +€7,449
new in 2025: €7,449
- Deferred charges and accrued income -€7,128
down €7,128 (-63.8%), from €11,168 to €4,040
- Tangible fixed assets +€3,643
new in 2025: €3,643
- Reserves +€54,261
up €54,261 (+751.2%), from €7,223 to €61,484
- Accrued charges and deferred income +€23,154
up €23,154 (+1123.7%), from €2,060 to €25,215
- Tax, wage and social debts +€14,312
up €14,312 (+764.5%), from €1,872 to €16,184
- Advances received -€12,135
no longer reported in 2025 (was €12,135)
- Trade debts +€4,363
new in 2025: €4,363
- Gross operating margin +€61,459
up €61,459 (+674.8%), from €9,108 to €70,567
- Taxes +€12,440
up €12,440 (+664.5%), from €1,872 to €14,312
- Depreciation +€1,257
new in 2025: €1,257
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 | €25,291 | €110,291 | +€85,001 | +336.1% |
| Fixed assets | 21/28 | - | €3,643 | +€3,643 | |
| Tangible fixed assets | 22/27 | - | €3,643 | +€3,643 | |
| Furniture and vehicles | 24 | - | €3,643 | +€3,643 | |
| Current assets | 29/58 | €25,291 | €106,649 | +€81,358 | +321.7% |
| Stocks and contracts in progress | 3 | - | €7,449 | +€7,449 | |
| Stocks | 30/36 | - | €7,449 | +€7,449 | |
| Amounts receivable within one year | 40/41 | €2,672 | €27,255 | +€24,583 | +920.0% |
| Trade receivables | 40 | €2,672 | €25,070 | +€22,398 | +838.2% |
| Other amounts receivable | 41 | - | €2,186 | +€2,186 | |
| Cash at bank and in hand | 54/58 | €11,450 | €67,904 | +€56,454 | +493.0% |
| Deferred charges and accrued income | 490/1 | €11,168 | €4,040 | -€7,128 | -63.8% |
| Total equity and liabilities | 10/49 | €25,291 | €110,291 | +€85,001 | +336.1% |
| Equity | 10/15 | €9,223 | €63,484 | +€54,261 | +588.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €7,223 | €61,484 | +€54,261 | +751.2% |
| Distributable reserves | 133 | €7,223 | €61,484 | +€54,261 | +751.2% |
| Amounts payable | 17/49 | €16,068 | €46,807 | +€30,739 | +191.3% |
| Amounts payable within one year | 42/48 | €14,007 | €21,592 | +€7,585 | +54.2% |
| Trade debts | 44 | - | €4,363 | +€4,363 | |
| Suppliers | 440/4 | - | €4,363 | +€4,363 | |
| Advances received on contracts in progress | 46 | €12,135 | - | -€12,135 | |
| Taxes, remuneration and social security | 45 | €1,872 | €16,184 | +€14,312 | +764.5% |
| Taxes | 450/3 | €1,872 | €16,184 | +€14,312 | +764.5% |
| Other amounts payable | 47/48 | - | €1,045 | +€1,045 | |
| Accrued charges and deferred income | 492/3 | €2,060 | €25,215 | +€23,154 | +1123.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,257 | +€1,257 | |
| Other operating charges | 640/8 | - | €107 | +€107 | |
| Gross operating margin | 9900 | €9,108 | €70,567 | +€61,459 | +674.8% |
| Operating profit (loss) | 9901 | €9,108 | €69,202 | +€60,095 | +659.8% |
| Financial income | 75/76B | - | €495 | +€495 | |
| Recurring financial income | 75 | - | €495 | +€495 | |
| Financial charges | 65/66B | €13 | €265 | +€253 | +2023.6% |
| Recurring financial charges | 65 | €13 | €265 | +€253 | +2023.6% |
| Profit (loss) for the period before taxes | 9903 | €9,095 | €69,432 | +€60,337 | +663.4% |
| Income taxes | 67/77 | €1,872 | €14,312 | +€12,440 | +664.5% |
| Profit (loss) for the period | 9904 | €7,223 | €55,120 | +€47,897 | +663.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,223 | €55,120 | +€47,897 | +663.1% |
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 11 October 2026 via checked.be.