W4JU: 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.
W4JU
Largest movements
- Current investments +€94,500
up €94,500 (+1575.0%), from €6,000 to €100,500
- Tangible fixed assets +€42,547
up €42,547 (+391.5%), from €10,868 to €53,415
of which Furniture and vehicles: +€40,769
- Cash -€12,247
down €12,247 (-8.3%), from €146,738 to €134,491
mainly Current investments (-€94,500) and Investment in fixed assets (net) (-€48,281)
- Deferred charges and accrued income +€5,976
up €5,976, from €0 to €5,976
- Receivables within one year +€5,385
up €5,385 (+26.3%), from €20,502 to €25,888
of which Trade receivables: +€5,614
- Reserves +€50,000
up €50,000 (+29.9%), from €167,480 to €217,480
- Debts after one year +€28,190
new in 2025: €28,190
- Other debts +€18,050
up €18,050 (+11702.0%), from €154 to €18,205
- Tax, wage and social debts +€15,637
up €15,637 (+135.5%), from €11,542 to €27,179
- Current portion of long-term debt +€14,822
new in 2025: €14,822
- Gross operating margin -€9,072
down €9,072 (-7.5%), from €120,526 to €111,454
- Depreciation +€2,476
up €2,476 (+76.0%), from €3,258 to €5,734
- Other operating charges +€2,403
up €2,403 (+1264.9%), from €190 to €2,593
- Taxes +€1,460
up €1,460 (+5.5%), from €26,771 to €28,232
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 | €184,154 | €320,315 | +€136,161 | +73.9% |
| Fixed assets | 21/28 | €10,914 | €53,461 | +€42,547 | +389.8% |
| Tangible fixed assets | 22/27 | €10,868 | €53,415 | +€42,547 | +391.5% |
| Plant, machinery and equipment | 23 | - | €2,597 | +€2,597 | |
| Furniture and vehicles | 24 | €3,581 | €44,350 | +€40,769 | +1138.6% |
| Other tangible fixed assets | 26 | €7,288 | €6,468 | -€820 | -11.2% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €173,241 | €266,854 | +€93,614 | +54.0% |
| Amounts receivable within one year | 40/41 | €20,502 | €25,888 | +€5,385 | +26.3% |
| Trade receivables | 40 | €20,274 | €25,888 | +€5,614 | +27.7% |
| Other amounts receivable | 41 | €229 | €0 | -€229 | -100.0% |
| Current investments | 50/53 | €6,000 | €100,500 | +€94,500 | +1575.0% |
| Cash at bank and in hand | 54/58 | €146,738 | €134,491 | -€12,247 | -8.3% |
| Deferred charges and accrued income | 490/1 | €0 | €5,976 | +€5,976 | |
| Total equity and liabilities | 10/49 | €184,154 | €320,315 | +€136,161 | +73.9% |
| Equity | 10/15 | €172,458 | €228,368 | +€55,910 | +32.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €167,480 | €217,480 | +€50,000 | +29.9% |
| Distributable reserves | 133 | €167,480 | €217,480 | +€50,000 | +29.9% |
| Profit (loss) carried forward | 14 | €977 | €6,887 | +€5,910 | +604.6% |
| Amounts payable | 17/49 | €11,696 | €91,947 | +€80,251 | +686.1% |
| Amounts payable after more than one year | 17 | - | €28,190 | +€28,190 | |
| Financial debts | 170/4 | - | €28,190 | +€28,190 | |
| Amounts payable within one year | 42/48 | €11,696 | €63,758 | +€52,061 | +445.1% |
| Current portion of amounts payable after more than one year | 42 | - | €14,822 | +€14,822 | |
| Trade debts | 44 | €0 | €3,552 | +€3,552 | |
| Suppliers | 440/4 | €0 | €3,552 | +€3,552 | |
| Taxes, remuneration and social security | 45 | €11,542 | €27,179 | +€15,637 | +135.5% |
| Taxes | 450/3 | €11,542 | €27,179 | +€15,637 | +135.5% |
| Other amounts payable | 47/48 | €154 | €18,205 | +€18,050 | +11702.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,258 | €5,734 | +€2,476 | +76.0% |
| Other operating charges | 640/8 | €190 | €2,593 | +€2,403 | +1264.9% |
| Gross operating margin | 9900 | €120,526 | €111,454 | -€9,072 | -7.5% |
| Operating profit (loss) | 9901 | €117,078 | €103,127 | -€13,952 | -11.9% |
| Financial income | 75/76B | €1,079 | €143 | -€936 | -86.8% |
| Recurring financial income | 75 | €1,079 | €143 | -€936 | -86.8% |
| Financial charges | 65/66B | €1,305 | €1,481 | +€176 | +13.5% |
| Recurring financial charges | 65 | €1,305 | €1,481 | +€176 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €116,853 | €101,789 | -€15,064 | -12.9% |
| Income taxes | 67/77 | €26,771 | €28,232 | +€1,460 | +5.5% |
| Profit (loss) for the period | 9904 | €90,081 | €73,557 | -€16,525 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,081 | €73,557 | -€16,525 | -18.3% |
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 6 October 2026 via checked.be.