BAWA: 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.
BAWA
Largest movements
- Stocks and contracts +€23,202
up €23,202 (+53.4%), from €43,450 to €66,653
- Cash +€2,695
up €2,695 (+21.1%), from €12,777 to €15,473
mainly Net result for the year (+€19,187) and Tax, wage and social debts (+€6,528)
- Receivables within one year -€2,507
down €2,507 (-36.6%), from €6,858 to €4,351
of which Other amounts receivable: -€1,643
- Intangible fixed assets -€1,286
down €1,286 (-41.6%), from €3,092 to €1,806
- Reserves +€19,187
new in 2025: €19,187
- Tax, wage and social debts +€6,528
up €6,528 (+33.3%), from €19,582 to €26,110
of which Taxes: +€13,084
- Trade debts -€4,407
down €4,407 (-97.1%), from €4,537 to €130
- Gross operating margin -€14,746
down €14,746 (-21.5%), from €68,590 to €53,843
- Staff costs +€2,622
up €2,622 (+11.7%), from €22,474 to €25,096
- Taxes -€1,155
down €1,155 (-18.2%), from €6,355 to €5,200
- Other operating charges +€1,090
up €1,090 (+60.5%), from €1,801 to €2,891
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 | €70,723 | €92,717 | +€21,993 | +31.1% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €7,412 | €6,126 | -€1,286 | -17.3% |
| Intangible fixed assets | 21 | €3,092 | €1,806 | -€1,286 | -41.6% |
| Financial fixed assets | 28 | €4,320 | €4,320 | = | 0.0% |
| Current assets | 29/58 | €63,312 | €86,590 | +€23,279 | +36.8% |
| Stocks and contracts in progress | 3 | €43,450 | €66,653 | +€23,202 | +53.4% |
| Stocks | 30/36 | €43,450 | €66,653 | +€23,202 | +53.4% |
| Amounts receivable within one year | 40/41 | €6,858 | €4,351 | -€2,507 | -36.6% |
| Trade receivables | 40 | €3,364 | €2,500 | -€864 | -25.7% |
| Other amounts receivable | 41 | €3,494 | €1,851 | -€1,643 | -47.0% |
| Cash at bank and in hand | 54/58 | €12,777 | €15,473 | +€2,695 | +21.1% |
| Deferred charges and accrued income | 490/1 | €226 | €115 | -€112 | -49.3% |
| Total equity and liabilities | 10/49 | €70,723 | €92,717 | +€21,993 | +31.1% |
| Equity | 10/15 | €43,788 | €62,975 | +€19,187 | +43.8% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | - | €19,187 | +€19,187 | |
| Distributable reserves | 133 | - | €19,187 | +€19,187 | |
| Profit (loss) carried forward | 14 | €35,788 | €35,788 | = | 0.0% |
| Amounts payable | 17/49 | €26,936 | €29,742 | +€2,806 | +10.4% |
| Amounts payable within one year | 42/48 | €26,936 | €29,742 | +€2,806 | +10.4% |
| Trade debts | 44 | €4,537 | €130 | -€4,407 | -97.1% |
| Suppliers | 440/4 | €4,537 | €130 | -€4,407 | -97.1% |
| Taxes, remuneration and social security | 45 | €19,582 | €26,110 | +€6,528 | +33.3% |
| Taxes | 450/3 | €7,448 | €20,532 | +€13,084 | +175.7% |
| Remuneration and social security | 454/9 | €12,134 | €5,578 | -€6,556 | -54.0% |
| Other amounts payable | 47/48 | €2,816 | €3,501 | +€685 | +24.3% |
| Remuneration, social security and pensions | 62 | €22,474 | €25,096 | +€2,622 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,465 | €1,286 | -€179 | -12.2% |
| Other operating charges | 640/8 | €1,801 | €2,891 | +€1,090 | +60.5% |
| Gross operating margin | 9900 | €68,590 | €53,843 | -€14,746 | -21.5% |
| Operating profit (loss) | 9901 | €42,850 | €24,571 | -€18,279 | -42.7% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €303 | €186 | -€117 | -38.6% |
| Recurring financial charges | 65 | €303 | €186 | -€117 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €42,547 | €24,387 | -€18,160 | -42.7% |
| Income taxes | 67/77 | €6,355 | €5,200 | -€1,155 | -18.2% |
| Profit (loss) for the period | 9904 | €36,192 | €19,187 | -€17,005 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,192 | €19,187 | -€17,005 | -47.0% |
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 11 October 2026 via checked.be.