NJ Works: what changed
NJ Works
Largest movements
- Tangible fixed assets -€268,170
down €268,170 (-55.2%), from €486,121 to €217,950
of which Land and buildings: -€228,879
- Receivables within one year +€26,205
up €26,205 (+350%), from €7,489 to €33,694
of which Trade receivables: +€25,743
- Cash -€25,299
down €25,299 (-71.5%), from €35,364 to €10,066
mainly Other debts (-€265,066) and Receivables within one year (-€26,205)
- Receivables after one year -€15,000
no longer reported in 2025 (was €15,000)
- Other debts -€265,066
down €265,066 (-88.1%), from €300,721 to €35,656
- Reserves -€21,544
down €21,544 (-60.5%), from €35,639 to €14,095
- Trade debts -€13,762
down €13,762 (-77.6%), from €17,727 to €3,965
- Debts after one year +€10,457
up €10,457 (+6.0%), from €174,698 to €185,155
- Current portion of long-term debt +€7,024
up €7,024 (+44.6%), from €15,763 to €22,786
- Depreciation +€27,415
up €27,415 (+119%), from €22,975 to €50,390
- Gross operating margin +€23,417
up €23,417 (+162%), from €14,455 to €37,872
- Financial charges +€2,198
up €2,198 (+52.2%), from €4,213 to €6,411
- Financial income -€434
down €434 (-96.2%), from €451 to €17
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €548,108 | €265,219 | -€282,889 | -51.6% |
| Fixed assets | 21/28 | €486,121 | €217,950 | -€268,170 | -55.2% |
| Tangible fixed assets | 22/27 | €486,121 | €217,950 | -€268,170 | -55.2% |
| Land and buildings | 22 | €378,656 | €149,777 | -€228,879 | -60.4% |
| Plant, machinery and equipment | 23 | €8,488 | €11,249 | +€2,760 | +32.5% |
| Furniture and vehicles | 24 | €55,447 | €39,031 | -€16,417 | -29.6% |
| Other tangible fixed assets | 26 | - | €17,894 | +€17,894 | |
| Assets under construction and advance payments | 27 | €43,529 | - | -€43,529 | |
| Current assets | 29/58 | €61,987 | €47,269 | -€14,719 | -23.7% |
| Amounts receivable after more than one year | 29 | €15,000 | - | -€15,000 | |
| Trade receivables | 290 | €15,000 | - | -€15,000 | |
| Amounts receivable within one year | 40/41 | €7,489 | €33,694 | +€26,205 | +350% |
| Trade receivables | 40 | - | €25,743 | +€25,743 | |
| Other amounts receivable | 41 | €7,489 | €7,951 | +€462 | +6.2% |
| Cash at bank and in hand | 54/58 | €35,364 | €10,066 | -€25,299 | -71.5% |
| Deferred charges and accrued income | 490/1 | €4,134 | €3,509 | -€625 | -15.1% |
| Total equity and liabilities | 10/49 | €548,108 | €265,219 | -€282,889 | -51.6% |
| Equity | 10/15 | €37,639 | €16,095 | -€21,544 | -57.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €35,639 | €14,095 | -€21,544 | -60.5% |
| Distributable reserves | 133 | €35,639 | €14,095 | -€21,544 | -60.5% |
| Amounts payable | 17/49 | €510,469 | €249,124 | -€261,345 | -51.2% |
| Amounts payable after more than one year | 17 | €174,698 | €185,155 | +€10,457 | +6.0% |
| Financial debts | 170/4 | €174,698 | €185,155 | +€10,457 | +6.0% |
| Amounts payable within one year | 42/48 | €335,771 | €63,970 | -€271,801 | -80.9% |
| Current portion of amounts payable after more than one year | 42 | €15,763 | €22,786 | +€7,024 | +44.6% |
| Trade debts | 44 | €17,727 | €3,965 | -€13,762 | -77.6% |
| Suppliers | 440/4 | €17,727 | €3,965 | -€13,762 | -77.6% |
| Taxes, remuneration and social security | 45 | €1,560 | €1,563 | +€3 | +0.2% |
| Taxes | 450/3 | €1,560 | €1,563 | +€3 | +0.2% |
| Other amounts payable | 47/48 | €300,721 | €35,656 | -€265,066 | -88.1% |
| Non-recurring operating income | 76A | €1,849 | - | -€1,849 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,975 | €50,390 | +€27,415 | +119% |
| Other operating charges | 640/8 | €1,942 | €2,132 | +€190 | +9.8% |
| Gross operating margin | 9900 | €14,455 | €37,872 | +€23,417 | +162% |
| Operating profit (loss) | 9901 | -€10,462 | -€14,650 | -€4,189 | -40.0% |
| Financial income | 75/76B | €451 | €17 | -€434 | -96.2% |
| Recurring financial income | 75 | €451 | €17 | -€434 | -96.2% |
| Financial charges | 65/66B | €4,213 | €6,411 | +€2,198 | +52.2% |
| Recurring financial charges | 65 | €4,213 | €6,411 | +€2,198 | +52.2% |
| Profit (loss) for the period before taxes | 9903 | -€14,224 | -€21,044 | -€6,821 | -48.0% |
| Income taxes | 67/77 | €195 | €500 | +€305 | +156% |
| Profit (loss) for the period | 9904 | -€14,419 | -€21,544 | -€7,125 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,419 | -€21,544 | -€7,125 | -49.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.