JWN: 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.
JWN
Largest movements
- Receivables within one year +€102,811
up €102,811 (+8.9%), from €1.2m to €1.3m
- Tangible fixed assets -€53,125
down €53,125 (-44.6%), from €119,058 to €65,933
- Reserves +€37,500
up €37,500 (+2.7%), from €1.4m to €1.4m
- Gross operating margin -€18,965
down €18,965 (-12.6%), from €150,657 to €131,692
- Taxes -€11,092
down €11,092 (-38.8%), from €28,623 to €17,531
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 | €2,706,010 | €2,752,669 | +€46,659 | +1.7% |
| Fixed assets | 21/28 | €1,547,552 | €1,494,427 | -€53,125 | -3.4% |
| Tangible fixed assets | 22/27 | €119,058 | €65,933 | -€53,125 | -44.6% |
| Land and buildings | 22 | €119,058 | €65,933 | -€53,125 | -44.6% |
| Financial fixed assets | 28 | €1,428,494 | €1,428,494 | = | 0.0% |
| Current assets | 29/58 | €1,158,458 | €1,258,242 | +€99,784 | +8.6% |
| Amounts receivable within one year | 40/41 | €1,151,309 | €1,254,120 | +€102,811 | +8.9% |
| Other amounts receivable | 41 | €1,151,309 | €1,254,120 | +€102,811 | +8.9% |
| Cash at bank and in hand | 54/58 | €6,517 | €3,613 | -€2,904 | -44.6% |
| Deferred charges and accrued income | 490/1 | €632 | €508 | -€123 | -19.5% |
| Total equity and liabilities | 10/49 | €2,706,010 | €2,752,669 | +€46,659 | +1.7% |
| Equity | 10/15 | €2,692,180 | €2,729,724 | +€37,545 | +1.4% |
| Contributions | 10/11 | €1,199,000 | €1,199,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,199,000 | €1,199,000 | = | 0.0% |
| Other | 1109/19 | €1,199,000 | €1,199,000 | = | 0.0% |
| Reserves | 13 | €1,394,500 | €1,432,000 | +€37,500 | +2.7% |
| Distributable reserves | 133 | €1,394,500 | €1,432,000 | +€37,500 | +2.7% |
| Profit (loss) carried forward | 14 | €98,680 | €98,724 | +€45 | 0.0% |
| Amounts payable | 17/49 | €13,830 | €22,945 | +€9,115 | +65.9% |
| Amounts payable within one year | 42/48 | €13,590 | €22,695 | +€9,105 | +67.0% |
| Trade debts | 44 | - | €145 | +€145 | |
| Suppliers | 440/4 | - | €145 | +€145 | |
| Taxes, remuneration and social security | 45 | €13,590 | €7,550 | -€6,040 | -44.4% |
| Taxes | 450/3 | €13,590 | €7,550 | -€6,040 | -44.4% |
| Other amounts payable | 47/48 | - | €15,000 | +€15,000 | |
| Accrued charges and deferred income | 492/3 | €240 | €250 | +€10 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,125 | €53,125 | = | 0.0% |
| Other operating charges | 640/8 | €17,759 | €18,211 | +€452 | +2.5% |
| Gross operating margin | 9900 | €150,657 | €131,692 | -€18,965 | -12.6% |
| Operating profit (loss) | 9901 | €79,773 | €60,356 | -€19,417 | -24.3% |
| Financial income | 75/76B | €8,799 | €9,744 | +€946 | +10.7% |
| Recurring financial income | 75 | €8,799 | €9,744 | +€946 | +10.7% |
| Financial charges | 65/66B | €24 | €24 | = | 0.0% |
| Recurring financial charges | 65 | €24 | €24 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €88,547 | €70,076 | -€18,471 | -20.9% |
| Income taxes | 67/77 | €28,623 | €17,531 | -€11,092 | -38.8% |
| Profit (loss) for the period | 9904 | €59,925 | €52,545 | -€7,380 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,925 | €52,545 | -€7,380 | -12.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.