JvW Strategy: 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.
JvW Strategy
Largest movements
- Cash +€6,992
up €6,992 (+9.3%), from €75,330 to €82,322
mainly Net result for the year (+€14,888) and Trade debts (+€1,082)
- Receivables within one year +€4,798
up €4,798 (+79.6%), from €6,024 to €10,822
of which Other amounts receivable: +€5,193
- Tangible fixed assets +€2,711
new in 2025: €2,711
- Reserves +€12,500
up €12,500 (+25.6%), from €48,902 to €61,402
of which Distributable reserves: +€12,500
- Profit (loss) carried forward +€2,388
up €2,388 (+19.2%), from €12,434 to €14,822
- Accrued charges and deferred income -€1,250
no longer reported in 2025 (was €1,250)
- Trade debts +€1,082
up €1,082 (+644%), from €168 to €1,250
- Gross operating margin +€16,983
up €16,983 (+4,310%), from €394 to €17,377
- Taxes +€1,361
up €1,361 (+939%), from €145 to €1,506
- Depreciation +€304
new in 2025: €304
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.
Derived cash bridge
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 | €81,354 | €96,074 | +€14,720 | +18.1% |
| Fixed assets | 21/28 | - | €2,711 | +€2,711 | |
| Tangible fixed assets | 22/27 | - | €2,711 | +€2,711 | |
| Furniture and vehicles | 24 | - | €2,711 | +€2,711 | |
| Current assets | 29/58 | €81,354 | €93,363 | +€12,009 | +14.8% |
| Amounts receivable within one year | 40/41 | €6,024 | €10,822 | +€4,798 | +79.6% |
| Trade receivables | 40 | €5,395 | €5,000 | -€395 | -7.3% |
| Other amounts receivable | 41 | €629 | €5,822 | +€5,193 | +826% |
| Cash at bank and in hand | 54/58 | €75,330 | €82,322 | +€6,992 | +9.3% |
| Deferred charges and accrued income | 490/1 | - | €219 | +€219 | |
| Total equity and liabilities | 10/49 | €81,354 | €96,074 | +€14,720 | +18.1% |
| Equity | 10/15 | €79,936 | €94,824 | +€14,888 | +18.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €48,902 | €61,402 | +€12,500 | +25.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €47,042 | €59,542 | +€12,500 | +26.6% |
| Profit (loss) carried forward | 14 | €12,434 | €14,822 | +€2,388 | +19.2% |
| Amounts payable | 17/49 | €1,418 | €1,250 | -€168 | -11.8% |
| Amounts payable within one year | 42/48 | €168 | €1,250 | +€1,082 | +644% |
| Trade debts | 44 | €168 | €1,250 | +€1,082 | +644% |
| Suppliers | 440/4 | €168 | €1,250 | +€1,082 | +644% |
| Accrued charges and deferred income | 492/3 | €1,250 | - | -€1,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €304 | +€304 | |
| Other operating charges | 640/8 | €596 | €674 | +€78 | +13.1% |
| Gross operating margin | 9900 | €394 | €17,377 | +€16,983 | +4,310% |
| Operating profit (loss) | 9901 | -€202 | €16,399 | +€16,601 | |
| Financial charges | 65/66B | €139 | €5 | -€134 | -96.4% |
| Recurring financial charges | 65 | €139 | €5 | -€134 | -96.4% |
| Profit (loss) for the period before taxes | 9903 | -€341 | €16,394 | +€16,735 | |
| Income taxes | 67/77 | €145 | €1,506 | +€1,361 | +939% |
| Profit (loss) for the period | 9904 | -€486 | €14,888 | +€15,374 | |
| Profit (loss) for the period to be appropriated | 9905 | -€486 | €14,888 | +€15,374 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.