A D W: 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.
A D W
Largest movements
- Tangible fixed assets -€6,797
down €6,797 (-1.2%), from €545,892 to €539,095
of which Leasing and similar rights: -€13,000
- Stocks and contracts -€5,734
down €5,734 (-70.2%), from €8,163 to €2,430
- Debts after one year -€74,778
down €74,778 (-24.3%), from €307,554 to €232,777
of which Financial debts: -€75,478
- Current portion of long-term debt +€32,925
up €32,925 (+308.7%), from €10,667 to €43,592
- Profit (loss) carried forward +€31,235
up €31,235 (+58.2%), from €53,693 to €84,928
- Trade debts +€7,354
up €7,354 (+28.1%), from €26,162 to €33,516
- Staff costs -€27,116
down €27,116 (-88.4%), from €30,686 to €3,569
- Taxes +€11,536
up €11,536 (+1439.7%), from €801 to €12,337
- Gross operating margin -€6,643
down €6,643 (-5.8%), from €114,286 to €107,643
- Financial charges -€2,453
down €2,453 (-13.5%), from €18,235 to €15,782
- Depreciation +€1,835
up €1,835 (+5.5%), from €33,356 to €35,192
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €567,583 | €550,055 | -€17,528 | -3.1% |
| Fixed assets | 21/28 | €546,062 | €539,120 | -€6,942 | -1.3% |
| Tangible fixed assets | 22/27 | €545,892 | €539,095 | -€6,797 | -1.2% |
| Land and buildings | 22 | €389,877 | €397,754 | +€7,878 | +2.0% |
| Plant, machinery and equipment | 23 | €114,864 | €104,597 | -€10,267 | -8.9% |
| Furniture and vehicles | 24 | €1,474 | €8,925 | +€7,451 | +505.5% |
| Leasing and similar rights | 25 | €39,677 | €26,677 | -€13,000 | -32.8% |
| Other tangible fixed assets | 26 | - | €1,142 | +€1,142 | |
| Financial fixed assets | 28 | €170 | €25 | -€145 | -85.3% |
| Current assets | 29/58 | €21,521 | €10,935 | -€10,586 | -49.2% |
| Stocks and contracts in progress | 3 | €8,163 | €2,430 | -€5,734 | -70.2% |
| Stocks | 30/36 | €8,163 | €2,430 | -€5,734 | -70.2% |
| Amounts receivable within one year | 40/41 | €8,480 | €4,210 | -€4,270 | -50.4% |
| Trade receivables | 40 | €4,481 | €3,815 | -€666 | -14.9% |
| Other amounts receivable | 41 | €3,999 | €395 | -€3,604 | -90.1% |
| Cash at bank and in hand | 54/58 | €2,681 | €3,111 | +€430 | +16.0% |
| Deferred charges and accrued income | 490/1 | €2,197 | €1,184 | -€1,013 | -46.1% |
| Total equity and liabilities | 10/49 | €567,583 | €550,055 | -€17,528 | -3.1% |
| Equity | 10/15 | €192,375 | €223,611 | +€31,235 | +16.2% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €20,082 | €20,082 | = | 0.0% |
| Distributable reserves | 133 | €20,082 | €20,082 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,693 | €84,928 | +€31,235 | +58.2% |
| Amounts payable | 17/49 | €375,207 | €326,444 | -€48,763 | -13.0% |
| Amounts payable after more than one year | 17 | €307,554 | €232,777 | -€74,778 | -24.3% |
| Financial debts | 170/4 | €307,554 | €232,077 | -€75,478 | -24.5% |
| Other amounts payable | 178/9 | - | €700 | +€700 | |
| Amounts payable within one year | 42/48 | €62,551 | €93,667 | +€31,116 | +49.7% |
| Current portion of amounts payable after more than one year | 42 | €10,667 | €43,592 | +€32,925 | +308.7% |
| Financial debts | 43 | €7,103 | €5,248 | -€1,855 | -26.1% |
| Credit institutions | 430/8 | €7,103 | €5,248 | -€1,855 | -26.1% |
| Trade debts | 44 | €26,162 | €33,516 | +€7,354 | +28.1% |
| Suppliers | 440/4 | €26,162 | €33,516 | +€7,354 | +28.1% |
| Advances received on contracts in progress | 46 | €65 | €0 | -€65 | -100.0% |
| Taxes, remuneration and social security | 45 | €4,946 | €774 | -€4,171 | -84.3% |
| Taxes | 450/3 | €3,239 | €774 | -€2,464 | -76.1% |
| Remuneration and social security | 454/9 | €1,707 | €0 | -€1,707 | -100.0% |
| Other amounts payable | 47/48 | €13,608 | €10,537 | -€3,070 | -22.6% |
| Accrued charges and deferred income | 492/3 | €5,102 | - | -€5,102 | |
| Remuneration, social security and pensions | 62 | €30,686 | €3,569 | -€27,116 | -88.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,356 | €35,192 | +€1,835 | +5.5% |
| Other operating charges | 640/8 | €3,239 | €4,723 | +€1,484 | +45.8% |
| Non-recurring operating charges | 66A | - | €6,749 | +€6,749 | |
| Gross operating margin | 9900 | €114,286 | €107,643 | -€6,643 | -5.8% |
| Operating profit (loss) | 9901 | €47,005 | €57,411 | +€10,406 | +22.1% |
| Financial income | 75/76B | €1,886 | €1,944 | +€58 | +3.1% |
| Recurring financial income | 75 | €1,886 | €1,944 | +€58 | +3.1% |
| Financial charges | 65/66B | €18,235 | €15,782 | -€2,453 | -13.5% |
| Recurring financial charges | 65 | €18,235 | €15,782 | -€2,453 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €30,656 | €43,573 | +€12,917 | +42.1% |
| Income taxes | 67/77 | €801 | €12,337 | +€11,536 | +1439.7% |
| Profit (loss) for the period | 9904 | €29,854 | €31,235 | +€1,381 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,854 | €31,235 | +€1,381 | +4.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.