3W SELECT: 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.
3W SELECT
Largest movements
- Cash -€216,193
down €216,193 (-99.5%), from €217,388 to €1,195
mainly Trade debts (-€149,142) and Net result for the year (-€76,841)
- Receivables within one year +€11,792
up €11,792 (+8.6%), from €137,801 to €149,593
of which Trade receivables: +€35,428
- Financial fixed assets +€6,680
new in 2025: €6,680
- Trade debts -€149,142
down €149,142 (-38.4%), from €388,833 to €239,691
- Profit (loss) carried forward -€76,841
down €76,841 (-16.3%), from -€470,778 to -€547,619
- Other debts +€30,324
up €30,324 (+8.1%), from €372,585 to €402,909
- Gross operating margin -€40,064
down €40,064 (-234.3%), from -€17,103 to -€57,168
- Financial charges -€15,540
down €15,540 (-46.1%), from €33,694 to €18,154
- Staff costs -€3,000
no longer reported in 2025 (was €3,000)
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 | €359,195 | €160,132 | -€199,064 | -55.4% |
| Formation expenses | 20 | €719 | €179 | -€540 | -75.2% |
| Fixed assets | 21/28 | - | €6,680 | +€6,680 | |
| Financial fixed assets | 28 | - | €6,680 | +€6,680 | |
| Current assets | 29/58 | €358,477 | €153,273 | -€205,203 | -57.2% |
| Amounts receivable within one year | 40/41 | €137,801 | €149,593 | +€11,792 | +8.6% |
| Trade receivables | 40 | €87,070 | €122,498 | +€35,428 | +40.7% |
| Other amounts receivable | 41 | €50,731 | €27,095 | -€23,636 | -46.6% |
| Cash at bank and in hand | 54/58 | €217,388 | €1,195 | -€216,193 | -99.5% |
| Deferred charges and accrued income | 490/1 | €3,288 | €2,485 | -€803 | -24.4% |
| Total equity and liabilities | 10/49 | €359,195 | €160,132 | -€199,064 | -55.4% |
| Equity | 10/15 | -€409,185 | -€486,026 | -€76,841 | -18.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €94 | €94 | = | 0.0% |
| Non-distributable reserves | 130/1 | €94 | €94 | = | 0.0% |
| Legal reserve | 130 | €94 | €94 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€470,778 | -€547,619 | -€76,841 | -16.3% |
| Amounts payable | 17/49 | €768,380 | €646,157 | -€122,223 | -15.9% |
| Amounts payable within one year | 42/48 | €761,418 | €642,600 | -€118,818 | -15.6% |
| Trade debts | 44 | €388,833 | €239,691 | -€149,142 | -38.4% |
| Suppliers | 440/4 | €388,833 | €239,691 | -€149,142 | -38.4% |
| Other amounts payable | 47/48 | €372,585 | €402,909 | +€30,324 | +8.1% |
| Accrued charges and deferred income | 492/3 | €6,962 | €3,557 | -€3,405 | -48.9% |
| Remuneration, social security and pensions | 62 | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €578 | €540 | -€37 | -6.5% |
| Other operating charges | 640/8 | €938 | €980 | +€42 | +4.4% |
| Gross operating margin | 9900 | -€17,103 | -€57,168 | -€40,064 | -234.3% |
| Operating profit (loss) | 9901 | -€21,619 | -€58,687 | -€37,069 | -171.5% |
| Financial charges | 65/66B | €33,694 | €18,154 | -€15,540 | -46.1% |
| Recurring financial charges | 65 | €33,694 | €18,154 | -€15,540 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | -€55,313 | -€76,841 | -€21,528 | -38.9% |
| Profit (loss) for the period | 9904 | -€55,313 | -€76,841 | -€21,528 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,313 | -€76,841 | -€21,528 | -38.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.