AWP: 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.
AWP
Largest movements
- Receivables within one year +€197,220
up €197,220 (+63.6%), from €309,942 to €507,162
of which Trade receivables: +€193,832
- Cash -€179,664
down €179,664 (-18.2%), from €985,800 to €806,136
mainly Receivables within one year (-€197,220) and Investment in fixed assets (net) (-€133,695)
- Tangible fixed assets +€70,061
up €70,061 (+36.6%), from €191,483 to €261,544
of which Furniture and vehicles: +€52,637
- Deferred charges and accrued income -€47,064
down €47,064 (-87.8%), from €53,616 to €6,552
- Stocks and contracts +€40,000
up €40,000 (+72.7%), from €55,000 to €95,000
- Reserves +€128,406
up €128,406 (+10.0%), from €1.3m to €1.4m
- Current portion of long-term debt -€51,078
no longer reported in 2025 (was €51,078)
- Staff costs -€62,294
down €62,294 (-14.9%), from €418,952 to €356,657
- Gross operating margin -€62,167
down €62,167 (-9.1%), from €682,183 to €620,016
- Depreciation +€18,085
up €18,085 (+37.8%), from €47,817 to €65,903
- Taxes -€12,801
down €12,801 (-17.3%), from €74,136 to €61,335
- Other operating charges +€7,250
up €7,250 (+139%), from €5,219 to €12,469
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 | €1,629,412 | €1,707,696 | +€78,284 | +4.8% |
| Fixed assets | 21/28 | €225,054 | €292,846 | +€67,792 | +30.1% |
| Intangible fixed assets | 21 | €33,306 | €24,137 | -€9,169 | -27.5% |
| Tangible fixed assets | 22/27 | €191,483 | €261,544 | +€70,061 | +36.6% |
| Land and buildings | 22 | €126,072 | €140,839 | +€14,768 | +11.7% |
| Plant, machinery and equipment | 23 | €12,162 | €14,819 | +€2,657 | +21.8% |
| Furniture and vehicles | 24 | €53,249 | €105,885 | +€52,637 | +98.8% |
| Financial fixed assets | 28 | €265 | €7,165 | +€6,900 | +2,603% |
| Current assets | 29/58 | €1,404,358 | €1,414,850 | +€10,492 | +0.7% |
| Stocks and contracts in progress | 3 | €55,000 | €95,000 | +€40,000 | +72.7% |
| Stocks | 30/36 | €55,000 | €95,000 | +€40,000 | +72.7% |
| Amounts receivable within one year | 40/41 | €309,942 | €507,162 | +€197,220 | +63.6% |
| Trade receivables | 40 | €307,336 | €501,168 | +€193,832 | +63.1% |
| Other amounts receivable | 41 | €2,606 | €5,994 | +€3,387 | +130% |
| Cash at bank and in hand | 54/58 | €985,800 | €806,136 | -€179,664 | -18.2% |
| Deferred charges and accrued income | 490/1 | €53,616 | €6,552 | -€47,064 | -87.8% |
| Total equity and liabilities | 10/49 | €1,629,412 | €1,707,696 | +€78,284 | +4.8% |
| Equity | 10/15 | €1,301,571 | €1,429,977 | +€128,406 | +9.9% |
| Contributions | 10/11 | €12,401 | €12,401 | = | 0.0% |
| Reserves | 13 | €1,289,170 | €1,417,576 | +€128,406 | +10.0% |
| Distributable reserves | 133 | €1,289,170 | €1,417,576 | +€128,406 | +10.0% |
| Amounts payable | 17/49 | €327,841 | €277,719 | -€50,122 | -15.3% |
| Amounts payable within one year | 42/48 | €327,601 | €276,683 | -€50,917 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €51,078 | - | -€51,078 | |
| Trade debts | 44 | €164,270 | €149,827 | -€14,443 | -8.8% |
| Suppliers | 440/4 | €164,270 | €149,827 | -€14,443 | -8.8% |
| Taxes, remuneration and social security | 45 | €81,733 | €91,309 | +€9,576 | +11.7% |
| Taxes | 450/3 | €42,392 | €36,648 | -€5,744 | -13.5% |
| Remuneration and social security | 454/9 | €39,341 | €54,660 | +€15,320 | +38.9% |
| Other amounts payable | 47/48 | €30,521 | €35,548 | +€5,027 | +16.5% |
| Accrued charges and deferred income | 492/3 | €240 | €1,035 | +€795 | +331% |
| Non-recurring operating income | 76A | - | €7,442 | +€7,442 | |
| Remuneration, social security and pensions | 62 | €418,952 | €356,657 | -€62,294 | -14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,817 | €65,903 | +€18,085 | +37.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,213 | +€2,213 | |
| Other operating charges | 640/8 | €5,219 | €12,469 | +€7,250 | +139% |
| Non-recurring operating charges | 66A | €263 | €1,926 | +€1,663 | +631% |
| Gross operating margin | 9900 | €682,183 | €620,016 | -€62,167 | -9.1% |
| Operating profit (loss) | 9901 | €209,932 | €180,848 | -€29,084 | -13.9% |
| Financial income | 75/76B | €24,750 | €24,278 | -€473 | -1.9% |
| Recurring financial income | 75 | €24,750 | €24,278 | -€473 | -1.9% |
| Financial charges | 65/66B | €12,203 | €15,385 | +€3,182 | +26.1% |
| Recurring financial charges | 65 | €12,203 | €15,385 | +€3,182 | +26.1% |
| Profit (loss) for the period before taxes | 9903 | €222,479 | €189,741 | -€32,739 | -14.7% |
| Income taxes | 67/77 | €74,136 | €61,335 | -€12,801 | -17.3% |
| Profit (loss) for the period | 9904 | €148,343 | €128,406 | -€19,938 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €148,343 | €128,406 | -€19,938 | -13.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.