BA&W: 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.
BA&W
Largest movements
- Receivables within one year -€13,320
down €13,320 (-74.7%), from €17,824 to €4,504
of which Trade receivables: -€12,533
- Tangible fixed assets +€13,015
up €13,015 (+938.5%), from €1,387 to €14,402
of which Furniture and vehicles: +€13,486
- Deferred charges and accrued income -€595
down €595 (-86.3%), from €690 to €95
- Cash +€527
up €527 (+137.4%), from €384 to €911
mainly Receivables within one year (+€13,320) and Other debts (+€9,383)
- Other debts +€9,383
up €9,383 (+198.9%), from €4,718 to €14,101
- Profit (loss) carried forward -€7,226
down €7,226 (-70.5%), from -€10,246 to -€17,471
- Trade debts -€6,153
down €6,153 (-73.0%), from €8,425 to €2,272
- Advances received +€4,250
new in 2025: €4,250
- Short-term financial debts -€627
no longer reported in 2025 (was €627)
- Gross operating margin -€10,340
down €10,340, from €5,885 to -€4,455
- Other operating charges -€3,774
down €3,774 (-84.9%), from €4,447 to €673
- Depreciation +€1,331
up €1,331 (+317.6%), from €419 to €1,751
- Financial charges -€254
down €254 (-42.3%), from €602 to €348
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 | €20,285 | €19,912 | -€373 | -1.8% |
| Fixed assets | 21/28 | €1,387 | €14,402 | +€13,015 | +938.5% |
| Tangible fixed assets | 22/27 | €1,387 | €14,402 | +€13,015 | +938.5% |
| Plant, machinery and equipment | 23 | €1,387 | €916 | -€471 | -33.9% |
| Furniture and vehicles | 24 | - | €13,486 | +€13,486 | |
| Current assets | 29/58 | €18,898 | €5,510 | -€13,388 | -70.8% |
| Amounts receivable within one year | 40/41 | €17,824 | €4,504 | -€13,320 | -74.7% |
| Trade receivables | 40 | €15,261 | €2,728 | -€12,533 | -82.1% |
| Other amounts receivable | 41 | €2,563 | €1,776 | -€788 | -30.7% |
| Cash at bank and in hand | 54/58 | €384 | €911 | +€527 | +137.4% |
| Deferred charges and accrued income | 490/1 | €690 | €95 | -€595 | -86.3% |
| Total equity and liabilities | 10/49 | €20,285 | €19,912 | -€373 | -1.8% |
| Equity | 10/15 | €6,514 | -€711 | -€7,226 | |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Outside capital | 11 | - | €6,300 | +€6,300 | |
| Share premium | 1100/10 | - | €6,300 | +€6,300 | |
| Reserves | 13 | €10,460 | €10,460 | = | 0.0% |
| Distributable reserves | 133 | €10,460 | €10,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,246 | -€17,471 | -€7,226 | -70.5% |
| Amounts payable | 17/49 | €13,771 | €20,623 | +€6,852 | +49.8% |
| Amounts payable within one year | 42/48 | €13,771 | €20,623 | +€6,852 | +49.8% |
| Financial debts | 43 | €627 | - | -€627 | |
| Credit institutions | 430/8 | €627 | - | -€627 | |
| Trade debts | 44 | €8,425 | €2,272 | -€6,153 | -73.0% |
| Suppliers | 440/4 | €8,425 | €2,272 | -€6,153 | -73.0% |
| Advances received on contracts in progress | 46 | - | €4,250 | +€4,250 | |
| Other amounts payable | 47/48 | €4,718 | €14,101 | +€9,383 | +198.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €419 | €1,751 | +€1,331 | +317.6% |
| Other operating charges | 640/8 | €4,447 | €673 | -€3,774 | -84.9% |
| Gross operating margin | 9900 | €5,885 | -€4,455 | -€10,340 | |
| Operating profit (loss) | 9901 | €1,018 | -€6,879 | -€7,897 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +1090.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +1090.0% |
| Financial charges | 65/66B | €602 | €348 | -€254 | -42.3% |
| Recurring financial charges | 65 | €602 | €348 | -€254 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €416 | -€7,226 | -€7,642 | |
| Profit (loss) for the period | 9904 | €416 | -€7,226 | -€7,642 | |
| Profit (loss) for the period to be appropriated | 9905 | €416 | -€7,226 | -€7,642 |
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 8 October 2026 via checked.be.