B&W MANAGEMENT: 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.
B&W MANAGEMENT
Largest movements
- Cash -€89,131
down €89,131 (-67.1%), from €132,879 to €43,748
mainly Debts after one year (-€153,187) and Receivables after one year (-€19,512)
- Tangible fixed assets -€38,237
down €38,237 (-61.9%), from €61,738 to €23,501
of which Furniture and vehicles: -€20,731
- Receivables after one year +€19,512
up €19,512 (+6.7%), from €292,949 to €312,461
- Debts after one year -€153,187
down €153,187 (-44.1%), from €347,266 to €194,078
of which Other amounts payable: -€142,391
- Reserves +€42,592
up €42,592 (+10.1%), from €420,447 to €463,039
of which Distributable reserves: +€42,592
- Depreciation -€2,017
down €2,017 (-10.5%), from €19,154 to €17,137
- Gross operating margin -€1,717
down €1,717 (-1.9%), from €92,123 to €90,406
- Financial income +€1,108
up €1,108 (+5.5%), from €20,204 to €21,312
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 | €839,214 | €731,365 | -€107,849 | -12.9% |
| Fixed assets | 21/28 | €368,630 | €330,393 | -€38,237 | -10.4% |
| Tangible fixed assets | 22/27 | €61,738 | €23,501 | -€38,237 | -61.9% |
| Furniture and vehicles | 24 | €21,027 | €296 | -€20,731 | -98.6% |
| Leasing and similar rights | 25 | €27,323 | €16,946 | -€10,378 | -38.0% |
| Other tangible fixed assets | 26 | €13,387 | €6,259 | -€7,128 | -53.2% |
| Financial fixed assets | 28 | €306,893 | €306,893 | = | 0.0% |
| Current assets | 29/58 | €470,584 | €400,972 | -€69,612 | -14.8% |
| Amounts receivable after more than one year | 29 | €292,949 | €312,461 | +€19,512 | +6.7% |
| Other amounts receivable | 291 | €292,949 | €312,461 | +€19,512 | +6.7% |
| Amounts receivable within one year | 40/41 | €36,778 | €36,778 | = | 0.0% |
| Trade receivables | 40 | €36,778 | €36,778 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €132,879 | €43,748 | -€89,131 | -67.1% |
| Deferred charges and accrued income | 490/1 | €7,978 | €7,985 | +€7 | +0.1% |
| Total equity and liabilities | 10/49 | €839,214 | €731,365 | -€107,849 | -12.9% |
| Equity | 10/15 | €438,997 | €481,589 | +€42,592 | +9.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €420,447 | €463,039 | +€42,592 | +10.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €56,296 | €56,296 | = | 0.0% |
| Distributable reserves | 133 | €364,151 | €406,743 | +€42,592 | +11.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €400,217 | €249,776 | -€150,440 | -37.6% |
| Amounts payable after more than one year | 17 | €347,266 | €194,078 | -€153,187 | -44.1% |
| Financial debts | 170/4 | €17,237 | €6,441 | -€10,796 | -62.6% |
| Other amounts payable | 178/9 | €330,028 | €187,637 | -€142,391 | -43.1% |
| Amounts payable within one year | 42/48 | €52,951 | €55,698 | +€2,747 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €10,493 | €10,796 | +€303 | +2.9% |
| Trade debts | 44 | €4,388 | €4,322 | -€66 | -1.5% |
| Suppliers | 440/4 | €4,388 | €4,322 | -€66 | -1.5% |
| Taxes, remuneration and social security | 45 | €21,453 | €24,437 | +€2,985 | +13.9% |
| Taxes | 450/3 | €21,453 | €24,437 | +€2,985 | +13.9% |
| Other amounts payable | 47/48 | €16,617 | €16,142 | -€475 | -2.9% |
| Non-recurring operating income | 76A | - | €1,210 | +€1,210 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,154 | €17,137 | -€2,017 | -10.5% |
| Other operating charges | 640/8 | €3,283 | €3,130 | -€154 | -4.7% |
| Non-recurring operating charges | 66A | - | €810 | +€810 | |
| Gross operating margin | 9900 | €92,123 | €90,406 | -€1,717 | -1.9% |
| Operating profit (loss) | 9901 | €69,685 | €69,329 | -€356 | -0.5% |
| Financial income | 75/76B | €20,204 | €21,312 | +€1,108 | +5.5% |
| Recurring financial income | 75 | €20,204 | €21,312 | +€1,108 | +5.5% |
| Financial charges | 65/66B | €25,156 | €24,237 | -€919 | -3.7% |
| Recurring financial charges | 65 | €25,156 | €24,237 | -€919 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €64,733 | €66,403 | +€1,671 | +2.6% |
| Income taxes | 67/77 | €23,532 | €23,812 | +€279 | +1.2% |
| Profit (loss) for the period | 9904 | €41,200 | €42,592 | +€1,391 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,200 | €42,592 | +€1,391 | +3.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.