JW-Solar: 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.
JW-Solar
Largest movements
- Deferred charges and accrued income +€24,822
new in 2025: €24,822
- Cash -€16,306
down €16,306 (-67.3%), from €24,213 to €7,907
mainly Trade debts (-€31,449) and Deferred charges and accrued income (-€24,822)
- Stocks and contracts -€3,979
down €3,979 (-58.1%), from €6,849 to €2,870
- Receivables within one year +€1,244
up €1,244 (+2.6%), from €47,467 to €48,711
of which Other amounts receivable: +€5,868
- Trade debts -€31,449
no longer reported in 2025 (was €31,449)
- Debts after one year +€24,070
new in 2025: €24,070
- Current portion of long-term debt +€19,878
new in 2025: €19,878
- Tax, wage and social debts -€9,599
down €9,599 (-86.0%), from €11,164 to €1,565
- Reserves +€9,129
up €9,129 (+31.5%), from €28,946 to €38,075
- Financial charges +€4,993
up €4,993 (+1,863%), from €268 to €5,261
- Taxes -€1,384
down €1,384 (-26.8%), from €5,164 to €3,780
- Gross operating margin -€410
down €410 (-2.1%), from €19,222 to €18,812
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 | €79,146 | €84,588 | +€5,442 | +6.9% |
| Fixed assets | 21/28 | €617 | €278 | -€339 | -55.0% |
| Tangible fixed assets | 22/27 | €617 | €278 | -€339 | -55.0% |
| Furniture and vehicles | 24 | €617 | €278 | -€339 | -55.0% |
| Current assets | 29/58 | €78,529 | €84,311 | +€5,781 | +7.4% |
| Stocks and contracts in progress | 3 | €6,849 | €2,870 | -€3,979 | -58.1% |
| Stocks | 30/36 | €6,849 | €2,870 | -€3,979 | -58.1% |
| Amounts receivable within one year | 40/41 | €47,467 | €48,711 | +€1,244 | +2.6% |
| Trade receivables | 40 | €35,777 | €31,153 | -€4,625 | -12.9% |
| Other amounts receivable | 41 | €11,690 | €17,558 | +€5,868 | +50.2% |
| Cash at bank and in hand | 54/58 | €24,213 | €7,907 | -€16,306 | -67.3% |
| Deferred charges and accrued income | 490/1 | - | €24,822 | +€24,822 | |
| Total equity and liabilities | 10/49 | €79,146 | €84,588 | +€5,442 | +6.9% |
| Equity | 10/15 | €29,946 | €39,075 | +€9,129 | +30.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €28,946 | €38,075 | +€9,129 | +31.5% |
| Distributable reserves | 133 | €28,946 | €38,075 | +€9,129 | +31.5% |
| Amounts payable | 17/49 | €49,200 | €45,513 | -€3,687 | -7.5% |
| Amounts payable after more than one year | 17 | - | €24,070 | +€24,070 | |
| Financial debts | 170/4 | - | €24,070 | +€24,070 | |
| Amounts payable within one year | 42/48 | €49,200 | €21,443 | -€27,757 | -56.4% |
| Current portion of amounts payable after more than one year | 42 | - | €19,878 | +€19,878 | |
| Trade debts | 44 | €31,449 | - | -€31,449 | |
| Suppliers | 440/4 | €31,449 | - | -€31,449 | |
| Taxes, remuneration and social security | 45 | €11,164 | €1,565 | -€9,599 | -86.0% |
| Taxes | 450/3 | €11,164 | €1,565 | -€9,599 | -86.0% |
| Other amounts payable | 47/48 | €6,587 | - | -€6,587 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €339 | €339 | = | 0.0% |
| Other operating charges | 640/8 | €296 | €302 | +€6 | +2.0% |
| Gross operating margin | 9900 | €19,222 | €18,812 | -€410 | -2.1% |
| Operating profit (loss) | 9901 | €18,586 | €18,170 | -€416 | -2.2% |
| Financial income | 75/76B | €125 | - | -€125 | |
| Recurring financial income | 75 | €125 | - | -€125 | |
| Financial charges | 65/66B | €268 | €5,261 | +€4,993 | +1,863% |
| Recurring financial charges | 65 | €268 | €5,261 | +€4,993 | +1,863% |
| Profit (loss) for the period before taxes | 9903 | €18,443 | €12,910 | -€5,534 | -30.0% |
| Income taxes | 67/77 | €5,164 | €3,780 | -€1,384 | -26.8% |
| Profit (loss) for the period | 9904 | €13,279 | €9,129 | -€4,150 | -31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,279 | €9,129 | -€4,150 | -31.3% |
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 22 October 2026 via checked.be.