JWB: 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.
JWB
Largest movements
- Tangible fixed assets +€168,800
new in 2025: €168,800
- Receivables within one year -€124,830
down €124,830 (-55.3%), from €225,860 to €101,030
of which Trade receivables: -€86,520
- Cash -€20,049
down €20,049 (-77.7%), from €25,805 to €5,756
mainly Investment in fixed assets (net) (-€168,800) and Current portion of long-term debt (-€68,519)
- Debts after one year +€130,218
up €130,218 (+16.1%), from €810,183 to €940,401
- Current portion of long-term debt -€68,519
down €68,519 (-83.9%), from €81,663 to €13,144
- Trade debts -€29,840
down €29,840 (-12.3%), from €242,384 to €212,544
- Financial income -€106,120
no longer reported in 2025 (was €106,120)
- Gross operating margin -€6,404
down €6,404 (-62.1%), from €10,306 to €3,902
- Financial charges +€3,305
up €3,305 (+59.1%), from €5,594 to €8,900
- Taxes -€803
no longer reported in 2025 (was €803)
- Other operating charges +€455
up €455 (+44.2%), from €1,030 to €1,485
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 | €1,451,665 | €1,475,586 | +€23,921 | +1.6% |
| Fixed assets | 21/28 | €1,200,000 | €1,368,800 | +€168,800 | +14.1% |
| Tangible fixed assets | 22/27 | - | €168,800 | +€168,800 | |
| Land and buildings | 22 | - | €168,800 | +€168,800 | |
| Financial fixed assets | 28 | €1,200,000 | €1,200,000 | = | 0.0% |
| Current assets | 29/58 | €251,665 | €106,786 | -€144,879 | -57.6% |
| Amounts receivable within one year | 40/41 | €225,860 | €101,030 | -€124,830 | -55.3% |
| Trade receivables | 40 | €187,550 | €101,030 | -€86,520 | -46.1% |
| Other amounts receivable | 41 | €38,310 | - | -€38,310 | |
| Cash at bank and in hand | 54/58 | €25,805 | €5,756 | -€20,049 | -77.7% |
| Total equity and liabilities | 10/49 | €1,451,665 | €1,475,586 | +€23,921 | +1.6% |
| Equity | 10/15 | €309,993 | €303,511 | -€6,482 | -2.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €306,993 | €300,511 | -€6,482 | -2.1% |
| Distributable reserves | 133 | €306,993 | €300,511 | -€6,482 | -2.1% |
| Amounts payable | 17/49 | €1,141,673 | €1,172,076 | +€30,403 | +2.7% |
| Amounts payable after more than one year | 17 | €810,183 | €940,401 | +€130,218 | +16.1% |
| Financial debts | 170/4 | €810,183 | €940,401 | +€130,218 | +16.1% |
| Amounts payable within one year | 42/48 | €327,328 | €227,510 | -€99,818 | -30.5% |
| Current portion of amounts payable after more than one year | 42 | €81,663 | €13,144 | -€68,519 | -83.9% |
| Trade debts | 44 | €242,384 | €212,544 | -€29,840 | -12.3% |
| Suppliers | 440/4 | €242,384 | €212,544 | -€29,840 | -12.3% |
| Taxes, remuneration and social security | 45 | €3,281 | €1,822 | -€1,458 | -44.5% |
| Taxes | 450/3 | €3,281 | €1,822 | -€1,458 | -44.5% |
| Accrued charges and deferred income | 492/3 | €4,161 | €4,164 | +€3 | +0.1% |
| Other operating charges | 640/8 | €1,030 | €1,485 | +€455 | +44.2% |
| Gross operating margin | 9900 | €10,306 | €3,902 | -€6,404 | -62.1% |
| Operating profit (loss) | 9901 | €9,277 | €2,418 | -€6,859 | -73.9% |
| Financial income | 75/76B | €106,120 | - | -€106,120 | |
| Recurring financial income | 75 | €106,120 | - | -€106,120 | |
| Financial charges | 65/66B | €5,594 | €8,900 | +€3,305 | +59.1% |
| Recurring financial charges | 65 | €5,594 | €8,900 | +€3,305 | +59.1% |
| Profit (loss) for the period before taxes | 9903 | €109,802 | -€6,482 | -€116,284 | |
| Income taxes | 67/77 | €803 | - | -€803 | |
| Profit (loss) for the period | 9904 | €108,999 | -€6,482 | -€115,482 | |
| Profit (loss) for the period to be appropriated | 9905 | €108,999 | -€6,482 | -€115,482 |
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 1 October 2026 via checked.be.