BAWAB: 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.
BAWAB
Largest movements
- Cash +€168,964
up €168,964 (+160.6%), from €105,222 to €274,185
mainly Net result for the year (+€142,999) and Tax, wage and social debts (+€37,446)
- Tangible fixed assets +€12,131
up €12,131 (+15.2%), from €79,798 to €91,929
of which Plant, machinery and equipment: +€31,473
- Reserves +€142,999
up €142,999 (+374.9%), from €38,142 to €181,141
- Tax, wage and social debts +€37,446
up €37,446 (+328.3%), from €11,407 to €48,852
of which Taxes: +€31,446
- Other debts -€10,517
down €10,517 (-69.4%), from €15,153 to €4,636
- Trade debts +€7,028
up €7,028 (+303.9%), from €2,312 to €9,340
- Gross operating margin +€157,121
up €157,121 (+197.4%), from €79,608 to €236,730
- Taxes +€47,446
up €47,446 (+308.0%), from €15,407 to €62,852
- Depreciation +€6,289
up €6,289 (+28.9%), from €21,751 to €28,040
- Staff costs -€3,905
no longer reported in 2025 (was €3,905)
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 | €191,650 | €368,606 | +€176,956 | +92.3% |
| Fixed assets | 21/28 | €79,798 | €91,929 | +€12,131 | +15.2% |
| Tangible fixed assets | 22/27 | €79,798 | €91,929 | +€12,131 | +15.2% |
| Land and buildings | 22 | €30,160 | €15,080 | -€15,080 | -50.0% |
| Plant, machinery and equipment | 23 | €15,721 | €47,194 | +€31,473 | +200.2% |
| Furniture and vehicles | 24 | €2,564 | €2,301 | -€263 | -10.3% |
| Other tangible fixed assets | 26 | €31,353 | €27,354 | -€3,999 | -12.8% |
| Current assets | 29/58 | €111,852 | €276,677 | +€164,825 | +147.4% |
| Amounts receivable within one year | 40/41 | €2,694 | €2,022 | -€673 | -25.0% |
| Other amounts receivable | 41 | €2,694 | €2,022 | -€673 | -25.0% |
| Cash at bank and in hand | 54/58 | €105,222 | €274,185 | +€168,964 | +160.6% |
| Deferred charges and accrued income | 490/1 | €3,936 | €470 | -€3,466 | -88.1% |
| Total equity and liabilities | 10/49 | €191,650 | €368,606 | +€176,956 | +92.3% |
| Equity | 10/15 | €162,779 | €305,778 | +€142,999 | +87.8% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €38,142 | €181,141 | +€142,999 | +374.9% |
| Distributable reserves | 133 | €38,142 | €181,141 | +€142,999 | +374.9% |
| Profit (loss) carried forward | 14 | €112,137 | €112,137 | = | 0.0% |
| Amounts payable | 17/49 | €28,871 | €62,828 | +€33,957 | +117.6% |
| Amounts payable within one year | 42/48 | €28,871 | €62,828 | +€33,957 | +117.6% |
| Trade debts | 44 | €2,312 | €9,340 | +€7,028 | +303.9% |
| Suppliers | 440/4 | €2,312 | €9,340 | +€7,028 | +303.9% |
| Taxes, remuneration and social security | 45 | €11,407 | €48,852 | +€37,446 | +328.3% |
| Taxes | 450/3 | €11,407 | €42,852 | +€31,446 | +275.7% |
| Remuneration and social security | 454/9 | - | €6,000 | +€6,000 | |
| Other amounts payable | 47/48 | €15,153 | €4,636 | -€10,517 | -69.4% |
| Remuneration, social security and pensions | 62 | €3,905 | - | -€3,905 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,751 | €28,040 | +€6,289 | +28.9% |
| Other operating charges | 640/8 | €2,563 | €2,583 | +€20 | +0.8% |
| Gross operating margin | 9900 | €79,608 | €236,730 | +€157,121 | +197.4% |
| Operating profit (loss) | 9901 | €51,389 | €206,107 | +€154,717 | +301.1% |
| Financial charges | 65/66B | €98 | €255 | +€157 | +159.4% |
| Recurring financial charges | 65 | €98 | €255 | +€157 | +159.4% |
| Profit (loss) for the period before taxes | 9903 | €51,291 | €205,851 | +€154,560 | +301.3% |
| Income taxes | 67/77 | €15,407 | €62,852 | +€47,446 | +308.0% |
| Profit (loss) for the period | 9904 | €35,884 | €142,999 | +€107,115 | +298.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,884 | €142,999 | +€107,115 | +298.5% |
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 9 October 2026 via checked.be.