B.W. FIX: 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.
B.W. FIX
Largest movements
- Cash -€30,313
down €30,313 (-13.7%), from €221,279 to €190,966
mainly Tax, wage and social debts (-€20,070) and Receivables within one year (-€7,612)
- Receivables within one year +€7,612
up €7,612 (+15.7%), from €48,565 to €56,177
- Stocks and contracts +€5,803
up €5,803 (+4.1%), from €142,687 to €148,491
- Tax, wage and social debts -€20,070
down €20,070 (-63.6%), from €31,562 to €11,492
- Gross operating margin -€44,883
down €44,883 (-37.5%), from €119,797 to €74,913
- Taxes -€11,493
down €11,493 (-84.8%), from €13,558 to €2,065
- Write-downs -€5,008
no longer reported in 2025 (was €5,008)
- Staff costs +€4,348
up €4,348 (+6.4%), from €68,072 to €72,420
- Financial charges -€1,335
down €1,335 (-30.1%), from €4,432 to €3,097
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 | €416,285 | €397,977 | -€18,307 | -4.4% |
| Fixed assets | 21/28 | €2,344 | €2,344 | = | 0.0% |
| Financial fixed assets | 28 | €2,344 | €2,344 | = | 0.0% |
| Current assets | 29/58 | €413,941 | €395,634 | -€18,307 | -4.4% |
| Stocks and contracts in progress | 3 | €142,687 | €148,491 | +€5,803 | +4.1% |
| Stocks | 30/36 | €142,687 | €148,491 | +€5,803 | +4.1% |
| Amounts receivable within one year | 40/41 | €48,565 | €56,177 | +€7,612 | +15.7% |
| Trade receivables | 40 | €48,565 | €56,177 | +€7,612 | +15.7% |
| Cash at bank and in hand | 54/58 | €221,279 | €190,966 | -€30,313 | -13.7% |
| Deferred charges and accrued income | 490/1 | €1,410 | - | -€1,410 | |
| Total equity and liabilities | 10/49 | €416,285 | €397,977 | -€18,307 | -4.4% |
| Equity | 10/15 | €284,280 | €284,280 | = | 0.0% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €259,491 | €259,491 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €257,012 | €257,012 | = | 0.0% |
| Amounts payable | 17/49 | €132,004 | €113,697 | -€18,307 | -13.9% |
| Amounts payable within one year | 42/48 | €132,004 | €113,697 | -€18,307 | -13.9% |
| Trade debts | 44 | €1,757 | €482 | -€1,275 | -72.5% |
| Suppliers | 440/4 | €1,757 | €482 | -€1,275 | -72.5% |
| Taxes, remuneration and social security | 45 | €31,562 | €11,492 | -€20,070 | -63.6% |
| Taxes | 450/3 | €31,562 | €11,492 | -€20,070 | -63.6% |
| Other amounts payable | 47/48 | €98,685 | €101,723 | +€3,037 | +3.1% |
| Remuneration, social security and pensions | 62 | €68,072 | €72,420 | +€4,348 | +6.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,008 | - | -€5,008 | |
| Other operating charges | 640/8 | €954 | €583 | -€371 | -38.9% |
| Gross operating margin | 9900 | €119,797 | €74,913 | -€44,883 | -37.5% |
| Operating profit (loss) | 9901 | €45,762 | €1,911 | -€43,851 | -95.8% |
| Financial income | 75/76B | €5,688 | €6,289 | +€601 | +10.6% |
| Recurring financial income | 75 | €5,688 | €5,295 | -€393 | -6.9% |
| Non-recurring financial income | 76B | - | €994 | +€994 | |
| Financial charges | 65/66B | €4,432 | €3,097 | -€1,335 | -30.1% |
| Recurring financial charges | 65 | €4,432 | €3,097 | -€1,335 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €47,018 | €5,102 | -€41,916 | -89.1% |
| Income taxes | 67/77 | €13,558 | €2,065 | -€11,493 | -84.8% |
| Profit (loss) for the period | 9904 | €33,461 | €3,037 | -€30,423 | -90.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,461 | €3,037 | -€30,423 | -90.9% |
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 5 October 2026 via checked.be.