AKWERDO: 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.
AKWERDO
Largest movements
- Receivables after one year -€95,000
no longer reported in 2025 (was €95,000)
- Receivables within one year +€66,605
up €66,605 (+543.7%), from €12,250 to €78,855
of which Trade receivables: +€59,390
- Cash +€49,752
up €49,752 (+21.3%), from €233,512 to €283,264
mainly Receivables after one year (+€95,000) and Net result for the year (+€77,118)
- Tangible fixed assets +€8,691
up €8,691 (+30.8%), from €28,212 to €36,903
of which Furniture and vehicles: +€9,415
- Reserves -€71,293
down €71,293 (-20.3%), from €350,960 to €279,666
of which Distributable reserves: -€71,293
- Other debts +€53,725
up €53,725 (+1596.2%), from €3,366 to €57,091
- Tax, wage and social debts +€49,355
up €49,355 (+269.4%), from €18,320 to €67,676
- Gross operating margin +€13,248
up €13,248 (+12.0%), from €110,533 to €123,781
- Taxes +€4,243
up €4,243 (+14.3%), from €29,767 to €34,010
- Other operating charges +€2,271
up €2,271 (+102.1%), from €2,224 to €4,494
- Depreciation +€1,756
up €1,756 (+20.0%), from €8,784 to €10,540
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 | €375,957 | €406,100 | +€30,142 | +8.0% |
| Fixed assets | 21/28 | €29,562 | €38,253 | +€8,691 | +29.4% |
| Tangible fixed assets | 22/27 | €28,212 | €36,903 | +€8,691 | +30.8% |
| Plant, machinery and equipment | 23 | €4,342 | €3,840 | -€501 | -11.5% |
| Furniture and vehicles | 24 | €23,370 | €32,785 | +€9,415 | +40.3% |
| Other tangible fixed assets | 26 | €501 | €277 | -€223 | -44.6% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €346,396 | €367,847 | +€21,451 | +6.2% |
| Amounts receivable after more than one year | 29 | €95,000 | - | -€95,000 | |
| Other amounts receivable | 291 | €95,000 | - | -€95,000 | |
| Amounts receivable within one year | 40/41 | €12,250 | €78,855 | +€66,605 | +543.7% |
| Trade receivables | 40 | €11,471 | €70,861 | +€59,390 | +517.8% |
| Other amounts receivable | 41 | €779 | €7,994 | +€7,215 | +925.6% |
| Cash at bank and in hand | 54/58 | €233,512 | €283,264 | +€49,752 | +21.3% |
| Deferred charges and accrued income | 490/1 | €5,633 | €5,727 | +€94 | +1.7% |
| Total equity and liabilities | 10/49 | €375,957 | €406,100 | +€30,142 | +8.0% |
| Equity | 10/15 | €351,060 | €279,766 | -€71,293 | -20.3% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €350,960 | €279,666 | -€71,293 | -20.3% |
| Tax-exempt reserves | 132 | €393 | €393 | = | 0.0% |
| Distributable reserves | 133 | €350,567 | €279,273 | -€71,293 | -20.3% |
| Amounts payable | 17/49 | €24,898 | €126,333 | +€101,436 | +407.4% |
| Amounts payable within one year | 42/48 | €23,898 | €125,333 | +€101,436 | +424.5% |
| Trade debts | 44 | €2,212 | €567 | -€1,645 | -74.4% |
| Suppliers | 440/4 | €2,212 | €567 | -€1,645 | -74.4% |
| Taxes, remuneration and social security | 45 | €18,320 | €67,676 | +€49,355 | +269.4% |
| Taxes | 450/3 | €18,320 | €67,676 | +€49,355 | +269.4% |
| Other amounts payable | 47/48 | €3,366 | €57,091 | +€53,725 | +1596.2% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,784 | €10,540 | +€1,756 | +20.0% |
| Other operating charges | 640/8 | €2,224 | €4,494 | +€2,271 | +102.1% |
| Gross operating margin | 9900 | €110,533 | €123,781 | +€13,248 | +12.0% |
| Operating profit (loss) | 9901 | €99,526 | €108,747 | +€9,222 | +9.3% |
| Financial income | 75/76B | €4,068 | €4,306 | +€238 | +5.9% |
| Recurring financial income | 75 | €4,068 | €4,306 | +€238 | +5.9% |
| Financial charges | 65/66B | €1,878 | €1,926 | +€48 | +2.5% |
| Recurring financial charges | 65 | €1,878 | €1,926 | +€48 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €101,715 | €111,128 | +€9,413 | +9.3% |
| Income taxes | 67/77 | €29,767 | €34,010 | +€4,243 | +14.3% |
| Profit (loss) for the period | 9904 | €71,948 | €77,118 | +€5,170 | +7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €71,948 | €77,118 | +€5,170 | +7.2% |
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 10 October 2026 via checked.be.