AB²W: 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.
AB²W
Largest movements
- Cash +€93,747
up €93,747 (+20.2%), from €464,900 to €558,647
mainly Trade debts (+€68,968) and Receivables within one year (+€38,518)
- Receivables within one year -€38,518
down €38,518 (-10.7%), from €360,604 to €322,086
of which Other amounts receivable: -€36,472
- Current investments +€35,455
new in 2025: €35,455
- Trade debts +€68,968
up €68,968 (+74.8%), from €92,149 to €161,117
- Gross operating margin -€33,385
down €33,385 (-21.7%), from €153,729 to €120,344
- Staff costs -€29,127
down €29,127 (-21.1%), from €138,160 to €109,033
- Depreciation -€7,558
down €7,558 (-54.2%), from €13,934 to €6,376
- Write-downs +€5,450
up €5,450 (+47.9%), from -€11,387 to -€5,937
- Taxes -€2,901
down €2,901 (-69.1%), from €4,201 to €1,300
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 | €853,125 | €938,392 | +€85,266 | +10.0% |
| Fixed assets | 21/28 | €14,524 | €5,335 | -€9,189 | -63.3% |
| Tangible fixed assets | 22/27 | €14,524 | €5,335 | -€9,189 | -63.3% |
| Plant, machinery and equipment | 23 | €4,846 | €1,651 | -€3,195 | -65.9% |
| Furniture and vehicles | 24 | €4,522 | €485 | -€4,037 | -89.3% |
| Other tangible fixed assets | 26 | €5,156 | €3,199 | -€1,957 | -38.0% |
| Current assets | 29/58 | €838,602 | €933,057 | +€94,455 | +11.3% |
| Amounts receivable within one year | 40/41 | €360,604 | €322,086 | -€38,518 | -10.7% |
| Trade receivables | 40 | €213,517 | €211,471 | -€2,046 | -1.0% |
| Other amounts receivable | 41 | €147,087 | €110,615 | -€36,472 | -24.8% |
| Current investments | 50/53 | - | €35,455 | +€35,455 | |
| Cash at bank and in hand | 54/58 | €464,900 | €558,647 | +€93,747 | +20.2% |
| Deferred charges and accrued income | 490/1 | €13,097 | €16,869 | +€3,771 | +28.8% |
| Total equity and liabilities | 10/49 | €853,125 | €938,392 | +€85,266 | +10.0% |
| Equity | 10/15 | €94,953 | €98,782 | +€3,830 | +4.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €88,753 | €92,582 | +€3,830 | +4.3% |
| Non-distributable reserves | 130/1 | €1,860 | €37,315 | +€35,455 | +1906.2% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Own shares acquired | 1312 | - | €35,455 | +€35,455 | |
| Distributable reserves | 133 | €86,893 | €55,268 | -€31,625 | -36.4% |
| Amounts payable | 17/49 | €758,172 | €839,609 | +€81,437 | +10.7% |
| Amounts payable within one year | 42/48 | €757,611 | €839,609 | +€81,998 | +10.8% |
| Trade debts | 44 | €92,149 | €161,117 | +€68,968 | +74.8% |
| Suppliers | 440/4 | €92,149 | €161,117 | +€68,968 | +74.8% |
| Taxes, remuneration and social security | 45 | €10,493 | €15,089 | +€4,595 | +43.8% |
| Taxes | 450/3 | - | €2,731 | +€2,731 | |
| Remuneration and social security | 454/9 | €10,493 | €12,358 | +€1,864 | +17.8% |
| Other amounts payable | 47/48 | €654,969 | €663,404 | +€8,435 | +1.3% |
| Accrued charges and deferred income | 492/3 | €561 | - | -€561 | |
| Non-recurring operating income | 76A | €7,152 | - | -€7,152 | |
| Remuneration, social security and pensions | 62 | €138,160 | €109,033 | -€29,127 | -21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,934 | €6,376 | -€7,558 | -54.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€11,387 | -€5,937 | +€5,450 | +47.9% |
| Other operating charges | 640/8 | €10,038 | €7,350 | -€2,688 | -26.8% |
| Gross operating margin | 9900 | €153,729 | €120,344 | -€33,385 | -21.7% |
| Operating profit (loss) | 9901 | €2,984 | €3,522 | +€539 | +18.1% |
| Financial income | 75/76B | €7,503 | €5,209 | -€2,294 | -30.6% |
| Recurring financial income | 75 | €7,503 | €5,209 | -€2,294 | -30.6% |
| Financial charges | 65/66B | €179 | €199 | +€20 | +10.9% |
| Recurring financial charges | 65 | €179 | €199 | +€20 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €10,307 | €8,533 | -€1,774 | -17.2% |
| Income taxes | 67/77 | €4,201 | €1,300 | -€2,901 | -69.1% |
| Profit (loss) for the period | 9904 | €6,107 | €7,233 | +€1,127 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,107 | €7,233 | +€1,127 | +18.4% |
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 7 October 2026 via checked.be.