A.W.S.: 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.
A.W.S.
Largest movements
- Cash +€139,407
up €139,407 (+27.7%), from €503,388 to €642,796
mainly Trade debts (+€173,891) and Net result for the year (+€105,255)
- Receivables within one year +€106,897
up €106,897 (+35.4%), from €302,200 to €409,098
of which Trade receivables: +€106,729
- Tangible fixed assets +€94,748
up €94,748 (+91.4%), from €103,656 to €198,404
of which Leasing and similar rights: +€105,296
- Trade debts +€173,891
up €173,891 (+101%), from €171,674 to €345,565
- Reserves +€105,255
up €105,255 (+9.4%), from €1.1m to €1.2m
of which Distributable reserves: +€105,255
- Debts after one year +€51,838
up €51,838 (+397%), from €13,060 to €64,898
- Current portion of long-term debt +€18,999
up €18,999 (+105%), from €18,020 to €37,019
- Gross operating margin -€133,750
down €133,750 (-41.0%), from €326,599 to €192,849
- Taxes -€36,101
down €36,101 (-42.3%), from €85,286 to €49,185
- Financial income -€20,024
down €20,024 (-47.6%), from €42,080 to €22,056
- Depreciation +€12,990
up €12,990 (+51.3%), from €25,338 to €38,328
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.
Derived cash bridge
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 | €1,477,061 | €1,814,317 | +€337,256 | +22.8% |
| Fixed assets | 21/28 | €104,371 | €199,119 | +€94,748 | +90.8% |
| Tangible fixed assets | 22/27 | €103,656 | €198,404 | +€94,748 | +91.4% |
| Land and buildings | 22 | €14,456 | €14,059 | -€397 | -2.7% |
| Plant, machinery and equipment | 23 | €70,711 | €54,966 | -€15,745 | -22.3% |
| Furniture and vehicles | 24 | €8,755 | €14,348 | +€5,593 | +63.9% |
| Leasing and similar rights | 25 | - | €105,296 | +€105,296 | |
| Other tangible fixed assets | 26 | €9,735 | €9,735 | = | 0.0% |
| Financial fixed assets | 28 | €715 | €715 | = | 0.0% |
| Current assets | 29/58 | €1,372,690 | €1,615,198 | +€242,508 | +17.7% |
| Stocks and contracts in progress | 3 | €19,170 | €10,158 | -€9,012 | -47.0% |
| Stocks | 30/36 | €19,170 | €10,158 | -€9,012 | -47.0% |
| Amounts receivable within one year | 40/41 | €302,200 | €409,098 | +€106,897 | +35.4% |
| Trade receivables | 40 | €60,237 | €166,965 | +€106,729 | +177% |
| Other amounts receivable | 41 | €241,964 | €242,132 | +€169 | +0.1% |
| Current investments | 50/53 | €522,872 | €521,139 | -€1,733 | -0.3% |
| Cash at bank and in hand | 54/58 | €503,388 | €642,796 | +€139,407 | +27.7% |
| Deferred charges and accrued income | 490/1 | €25,059 | €32,007 | +€6,948 | +27.7% |
| Total equity and liabilities | 10/49 | €1,477,061 | €1,814,317 | +€337,256 | +22.8% |
| Equity | 10/15 | €1,133,023 | €1,238,278 | +€105,255 | +9.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,114,473 | €1,219,728 | +€105,255 | +9.4% |
| Tax-exempt reserves | 132 | €143,894 | €143,894 | = | 0.0% |
| Distributable reserves | 133 | €970,579 | €1,075,834 | +€105,255 | +10.8% |
| Amounts payable | 17/49 | €344,038 | €576,039 | +€232,001 | +67.4% |
| Amounts payable after more than one year | 17 | €13,060 | €64,898 | +€51,838 | +397% |
| Financial debts | 170/4 | €13,060 | €64,898 | +€51,838 | +397% |
| Amounts payable within one year | 42/48 | €329,647 | €509,810 | +€180,163 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | €18,020 | €37,019 | +€18,999 | +105% |
| Trade debts | 44 | €171,674 | €345,565 | +€173,891 | +101% |
| Suppliers | 440/4 | €171,674 | €345,565 | +€173,891 | +101% |
| Taxes, remuneration and social security | 45 | €4,077 | €8,825 | +€4,748 | +116% |
| Taxes | 450/3 | €4,077 | €5,763 | +€1,687 | +41.4% |
| Remuneration and social security | 454/9 | - | €3,062 | +€3,062 | |
| Other amounts payable | 47/48 | €135,876 | €118,401 | -€17,475 | -12.9% |
| Accrued charges and deferred income | 492/3 | €1,331 | €1,331 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €2,603 | €3,054 | +€451 | +17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,338 | €38,328 | +€12,990 | +51.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €591 | €0 | -€591 | -100% |
| Other operating charges | 640/8 | €5,391 | €5,986 | +€595 | +11.0% |
| Non-recurring operating charges | 66A | - | €316 | +€316 | |
| Gross operating margin | 9900 | €326,599 | €192,849 | -€133,750 | -41.0% |
| Operating profit (loss) | 9901 | €292,676 | €145,165 | -€147,511 | -50.4% |
| Financial income | 75/76B | €42,080 | €22,056 | -€20,024 | -47.6% |
| Recurring financial income | 75 | €42,080 | €22,056 | -€20,024 | -47.6% |
| Financial charges | 65/66B | €9,936 | €12,781 | +€2,845 | +28.6% |
| Recurring financial charges | 65 | €9,936 | €12,781 | +€2,845 | +28.6% |
| Profit (loss) for the period before taxes | 9903 | €324,820 | €154,440 | -€170,380 | -52.5% |
| Income taxes | 67/77 | €85,286 | €49,185 | -€36,101 | -42.3% |
| Profit (loss) for the period | 9904 | €239,534 | €105,255 | -€134,279 | -56.1% |
| Transfer to tax-exempt reserves | 689 | €130,510 | €0 | -€130,510 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €109,024 | €105,255 | -€3,769 | -3.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.