AWG: 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.
AWG
Largest movements
- Cash +€28,381
up €28,381 (+141%), from €20,088 to €48,469
mainly Net result for the year (+€60,564) and Depreciation (+€26,157)
- Tangible fixed assets -€24,708
down €24,708 (-6.4%), from €386,963 to €362,255
of which Land and buildings: -€22,306
- Receivables within one year -€11,911
down €11,911 (-22.6%), from €52,651 to €40,739
of which Other amounts receivable: -€16,611
- Debts after one year -€45,861
down €45,861 (-21.9%), from €209,325 to €163,465
- Reserves +€40,275
up €40,275 (+31.0%), from €129,728 to €170,003
- Other debts -€29,000
down €29,000 (-96.7%), from €30,000 to €1,000
- Short-term financial debts +€14,929
up €14,929 (+148%), from €10,071 to €25,000
- Tax, wage and social debts +€8,872
up €8,872 (+67.4%), from €13,173 to €22,044
of which Taxes: +€6,888
- Gross operating margin +€5,545
up €5,545 (+4.9%), from €114,209 to €119,754
- Financial income +€1,660
up €1,660 (+224%), from €741 to €2,401
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 | €461,955 | €454,383 | -€7,571 | -1.6% |
| Fixed assets | 21/28 | €387,213 | €362,505 | -€24,708 | -6.4% |
| Tangible fixed assets | 22/27 | €386,963 | €362,255 | -€24,708 | -6.4% |
| Land and buildings | 22 | €376,993 | €354,687 | -€22,306 | -5.9% |
| Plant, machinery and equipment | 23 | €5,853 | €4,490 | -€1,363 | -23.3% |
| Furniture and vehicles | 24 | €4,117 | €3,078 | -€1,039 | -25.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €74,742 | €91,878 | +€17,137 | +22.9% |
| Amounts receivable within one year | 40/41 | €52,651 | €40,739 | -€11,911 | -22.6% |
| Trade receivables | 40 | €21,875 | €26,574 | +€4,700 | +21.5% |
| Other amounts receivable | 41 | €30,776 | €14,165 | -€16,611 | -54.0% |
| Current investments | 50/53 | €2,003 | €2,003 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €20,088 | €48,469 | +€28,381 | +141% |
| Deferred charges and accrued income | 490/1 | - | €667 | +€667 | |
| Total equity and liabilities | 10/49 | €461,955 | €454,383 | -€7,571 | -1.6% |
| Equity | 10/15 | €148,328 | €188,603 | +€40,275 | +27.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €129,728 | €170,003 | +€40,275 | +31.0% |
| Distributable reserves | 133 | €129,728 | €170,003 | +€40,275 | +31.0% |
| Amounts payable | 17/49 | €313,626 | €265,780 | -€47,846 | -15.3% |
| Amounts payable after more than one year | 17 | €209,325 | €163,465 | -€45,861 | -21.9% |
| Financial debts | 170/4 | €209,325 | €163,465 | -€45,861 | -21.9% |
| Amounts payable within one year | 42/48 | €104,301 | €102,316 | -€1,985 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €44,732 | €45,861 | +€1,129 | +2.5% |
| Financial debts | 43 | €10,071 | €25,000 | +€14,929 | +148% |
| Credit institutions | 430/8 | €10,071 | €25,000 | +€14,929 | +148% |
| Trade debts | 44 | €6,325 | €8,410 | +€2,085 | +33.0% |
| Suppliers | 440/4 | €6,325 | €8,410 | +€2,085 | +33.0% |
| Taxes, remuneration and social security | 45 | €13,173 | €22,044 | +€8,872 | +67.4% |
| Taxes | 450/3 | €13,173 | €20,061 | +€6,888 | +52.3% |
| Remuneration and social security | 454/9 | - | €1,984 | +€1,984 | |
| Other amounts payable | 47/48 | €30,000 | €1,000 | -€29,000 | -96.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,577 | €26,157 | -€419 | -1.6% |
| Other operating charges | 640/8 | €2,241 | €2,679 | +€438 | +19.6% |
| Gross operating margin | 9900 | €114,209 | €119,754 | +€5,545 | +4.9% |
| Operating profit (loss) | 9901 | €85,392 | €90,917 | +€5,526 | +6.5% |
| Financial income | 75/76B | €741 | €2,401 | +€1,660 | +224% |
| Recurring financial income | 75 | €741 | €2,401 | +€1,660 | +224% |
| Financial charges | 65/66B | €6,502 | €6,476 | -€27 | -0.4% |
| Recurring financial charges | 65 | €6,502 | €6,476 | -€27 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €79,630 | €86,843 | +€7,213 | +9.1% |
| Income taxes | 67/77 | €25,502 | €26,278 | +€776 | +3.0% |
| Profit (loss) for the period | 9904 | €54,128 | €60,564 | +€6,437 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,128 | €60,564 | +€6,437 | +11.9% |
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 30 October 2026 via checked.be.