AWP EXPERTISE: 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 EXPERTISE
Largest movements
- Receivables within one year +€65,105
up €65,105 (+66.9%), from €97,365 to €162,471
of which Other amounts receivable: +€87,109
- Tangible fixed assets -€42,792
down €42,792 (-11.9%), from €358,790 to €315,998
- Cash +€38,462
up €38,462 (+2,313%), from €1,663 to €40,125
mainly Net result for the year (+€111,665) and Depreciation (+€45,408)
- Reserves +€111,665
up €111,665 (+51.1%), from €218,377 to €330,041
- Short-term financial debts -€32,673
down €32,673 (-22.6%), from €144,514 to €111,841
of which Other loans: -€39,833
- Debts after one year -€28,380
down €28,380 (-7.4%), from €382,118 to €353,738
of which Financial debts: -€34,080
- Tax, wage and social debts +€17,019
up €17,019 (+55.7%), from €30,574 to €47,593
of which Taxes: +€15,708
- Gross operating margin +€48,827
up €48,827 (+24.7%), from €197,773 to €246,600
- Taxes +€23,370
up €23,370 (+72.1%), from €32,413 to €55,783
- Staff costs -€17,422
down €17,422 (-52.4%), from €33,257 to €15,835
- Financial charges -€7,112
down €7,112 (-21.7%), from €32,753 to €25,642
- Financial income -€2,600
down €2,600 (-13.0%), from €19,985 to €17,385
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 | €868,602 | €929,719 | +€61,117 | +7.0% |
| Fixed assets | 21/28 | €358,790 | €315,998 | -€42,792 | -11.9% |
| Tangible fixed assets | 22/27 | €358,790 | €315,998 | -€42,792 | -11.9% |
| Land and buildings | 22 | €250,041 | €233,321 | -€16,721 | -6.7% |
| Plant, machinery and equipment | 23 | €4,956 | €3,975 | -€981 | -19.8% |
| Furniture and vehicles | 24 | €62,613 | €46,541 | -€16,072 | -25.7% |
| Other tangible fixed assets | 26 | €41,180 | €32,162 | -€9,018 | -21.9% |
| Current assets | 29/58 | €509,812 | €613,721 | +€103,909 | +20.4% |
| Amounts receivable after more than one year | 29 | €405,000 | €405,000 | = | 0.0% |
| Other amounts receivable | 291 | €405,000 | €405,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €97,365 | €162,471 | +€65,105 | +66.9% |
| Trade receivables | 40 | €78,668 | €56,664 | -€22,004 | -28.0% |
| Other amounts receivable | 41 | €18,697 | €105,806 | +€87,109 | +466% |
| Cash at bank and in hand | 54/58 | €1,663 | €40,125 | +€38,462 | +2,313% |
| Deferred charges and accrued income | 490/1 | €5,784 | €6,126 | +€342 | +5.9% |
| Total equity and liabilities | 10/49 | €868,602 | €929,719 | +€61,117 | +7.0% |
| Equity | 10/15 | €238,377 | €350,041 | +€111,665 | +46.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €218,377 | €330,041 | +€111,665 | +51.1% |
| Distributable reserves | 133 | €218,377 | €330,041 | +€111,665 | +51.1% |
| Amounts payable | 17/49 | €630,226 | €579,678 | -€50,548 | -8.0% |
| Amounts payable after more than one year | 17 | €382,118 | €353,738 | -€28,380 | -7.4% |
| Financial debts | 170/4 | €372,753 | €338,673 | -€34,080 | -9.1% |
| Other amounts payable | 178/9 | €9,365 | €15,065 | +€5,700 | +60.9% |
| Amounts payable within one year | 42/48 | €238,682 | €216,514 | -€22,168 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €33,805 | €34,080 | +€275 | +0.8% |
| Financial debts | 43 | €144,514 | €111,841 | -€32,673 | -22.6% |
| Credit institutions | 430/8 | - | €7,161 | +€7,161 | |
| Other loans | 439 | €144,514 | €104,681 | -€39,833 | -27.6% |
| Trade debts | 44 | €23,067 | €23,000 | -€67 | -0.3% |
| Suppliers | 440/4 | €23,067 | €23,000 | -€67 | -0.3% |
| Taxes, remuneration and social security | 45 | €30,574 | €47,593 | +€17,019 | +55.7% |
| Taxes | 450/3 | €30,574 | €46,282 | +€15,708 | +51.4% |
| Remuneration and social security | 454/9 | - | €1,311 | +€1,311 | |
| Other amounts payable | 47/48 | €6,722 | - | -€6,722 | |
| Accrued charges and deferred income | 492/3 | €9,425 | €9,425 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €33,257 | €15,835 | -€17,422 | -52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,150 | €45,408 | -€1,742 | -3.7% |
| Other operating charges | 640/8 | €9,136 | €9,654 | +€518 | +5.7% |
| Gross operating margin | 9900 | €197,773 | €246,600 | +€48,827 | +24.7% |
| Operating profit (loss) | 9901 | €108,231 | €175,704 | +€67,473 | +62.3% |
| Financial income | 75/76B | €19,985 | €17,385 | -€2,600 | -13.0% |
| Recurring financial income | 75 | €19,985 | €17,385 | -€2,600 | -13.0% |
| Financial charges | 65/66B | €32,753 | €25,642 | -€7,112 | -21.7% |
| Recurring financial charges | 65 | €32,753 | €25,642 | -€7,112 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €95,462 | €167,448 | +€71,985 | +75.4% |
| Income taxes | 67/77 | €32,413 | €55,783 | +€23,370 | +72.1% |
| Profit (loss) for the period | 9904 | €63,050 | €111,665 | +€48,615 | +77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €63,050 | €111,665 | +€48,615 | +77.1% |
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 13 October 2026 via checked.be.