LWJ: 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.
LWJ
Largest movements
- Cash +€17,849
up €17,849 (+203.1%), from €8,787 to €26,636
mainly Depreciation (+€14,089) and Tax, wage and social debts (+€7,612)
- Tangible fixed assets -€14,089
down €14,089 (-26.4%), from €53,441 to €39,352
of which Furniture and vehicles: -€13,747
- Receivables within one year +€7,834
up €7,834 (+175.5%), from €4,464 to €12,298
of which Trade receivables: +€11,616
- Tax, wage and social debts +€7,612
new in 2025: €7,612
- Reserves +€4,106
up €4,106 (+7.4%), from €55,655 to €59,762
- Trade debts -€1,472
down €1,472 (-29.1%), from €5,055 to €3,583
- Other debts +€1,431
new in 2025: €1,431
- Depreciation +€913
up €913 (+6.9%), from €13,176 to €14,089
- Gross operating margin -€723
down €723 (-3.5%), from €20,698 to €19,975
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 | €68,711 | €80,389 | +€11,678 | +17.0% |
| Fixed assets | 21/28 | €53,441 | €39,352 | -€14,089 | -26.4% |
| Tangible fixed assets | 22/27 | €53,441 | €39,352 | -€14,089 | -26.4% |
| Plant, machinery and equipment | 23 | €3,272 | €2,931 | -€342 | -10.4% |
| Furniture and vehicles | 24 | €50,169 | €36,422 | -€13,747 | -27.4% |
| Current assets | 29/58 | €15,270 | €41,036 | +€25,767 | +168.7% |
| Amounts receivable within one year | 40/41 | €4,464 | €12,298 | +€7,834 | +175.5% |
| Trade receivables | 40 | - | €11,616 | +€11,616 | |
| Other amounts receivable | 41 | €4,464 | €682 | -€3,782 | -84.7% |
| Cash at bank and in hand | 54/58 | €8,787 | €26,636 | +€17,849 | +203.1% |
| Deferred charges and accrued income | 490/1 | €2,018 | €2,103 | +€84 | +4.2% |
| Total equity and liabilities | 10/49 | €68,711 | €80,389 | +€11,678 | +17.0% |
| Equity | 10/15 | €63,655 | €67,762 | +€4,106 | +6.5% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €55,655 | €59,762 | +€4,106 | +7.4% |
| Distributable reserves | 133 | €55,655 | €59,762 | +€4,106 | +7.4% |
| Amounts payable | 17/49 | €5,055 | €12,627 | +€7,571 | +149.8% |
| Amounts payable within one year | 42/48 | €5,055 | €12,627 | +€7,571 | +149.8% |
| Trade debts | 44 | €5,055 | €3,583 | -€1,472 | -29.1% |
| Suppliers | 440/4 | €5,055 | €3,583 | -€1,472 | -29.1% |
| Taxes, remuneration and social security | 45 | - | €7,612 | +€7,612 | |
| Taxes | 450/3 | - | €7,612 | +€7,612 | |
| Other amounts payable | 47/48 | - | €1,431 | +€1,431 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,176 | €14,089 | +€913 | +6.9% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Non-recurring operating charges | 66A | €2,089 | - | -€2,089 | |
| Gross operating margin | 9900 | €20,698 | €19,975 | -€723 | -3.5% |
| Operating profit (loss) | 9901 | €4,983 | €5,424 | +€441 | +8.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Profit (loss) for the period before taxes | 9903 | €4,985 | €5,424 | +€440 | +8.8% |
| Income taxes | 67/77 | €1,117 | €1,318 | +€201 | +18.0% |
| Profit (loss) for the period | 9904 | €3,868 | €4,106 | +€239 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,868 | €4,106 | +€239 | +6.2% |
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 4 October 2026 via checked.be.