BAWS: 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.
BAWS
Largest movements
- Tangible fixed assets -€15,155
down €15,155 (-29.5%), from €51,412 to €36,257
of which Furniture and vehicles: -€13,294
- Receivables within one year -€10,275
down €10,275 (-95.8%), from €10,726 to €451
of which Trade receivables: -€8,012
- Cash -€2,196
down €2,196 (-15.5%), from €14,203 to €12,007
mainly Trade debts (-€20,871) and Debts after one year (-€8,982)
- Stocks and contracts +€1,692
up €1,692 (+37.8%), from €4,477 to €6,169
- Trade debts -€20,871
down €20,871 (-66.9%), from €31,179 to €10,308
- Other debts +€9,269
new in 2025: €9,269
- Debts after one year -€8,982
down €8,982 (-26.2%), from €34,308 to €25,327
- Profit (loss) carried forward -€4,371
down €4,371 (-49.8%), from -€8,771 to -€13,142
- Tax, wage and social debts -€1,947
down €1,947 (-13.4%), from €14,525 to €12,578
of which Taxes: -€2,049
- Staff costs +€32,715
up €32,715 (+109.6%), from €29,837 to €62,552
- Gross operating margin +€29,781
up €29,781 (+62.3%), from €47,797 to €77,577
- Depreciation +€8,705
up €8,705 (+128.0%), from €6,802 to €15,507
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 | €82,297 | €55,821 | -€26,476 | -32.2% |
| Fixed assets | 21/28 | €52,702 | €37,195 | -€15,507 | -29.4% |
| Intangible fixed assets | 21 | €1,290 | €938 | -€352 | -27.3% |
| Tangible fixed assets | 22/27 | €51,412 | €36,257 | -€15,155 | -29.5% |
| Land and buildings | 22 | €1,977 | €1,778 | -€199 | -10.1% |
| Plant, machinery and equipment | 23 | €2,767 | €1,106 | -€1,661 | -60.0% |
| Furniture and vehicles | 24 | €46,667 | €33,373 | -€13,294 | -28.5% |
| Current assets | 29/58 | €29,595 | €18,627 | -€10,968 | -37.1% |
| Stocks and contracts in progress | 3 | €4,477 | €6,169 | +€1,692 | +37.8% |
| Stocks | 30/36 | €4,477 | €6,169 | +€1,692 | +37.8% |
| Amounts receivable within one year | 40/41 | €10,726 | €451 | -€10,275 | -95.8% |
| Trade receivables | 40 | €8,012 | €0 | -€8,012 | -100.0% |
| Other amounts receivable | 41 | €2,714 | €451 | -€2,263 | -83.4% |
| Cash at bank and in hand | 54/58 | €14,203 | €12,007 | -€2,196 | -15.5% |
| Deferred charges and accrued income | 490/1 | €189 | €0 | -€189 | -100.0% |
| Total equity and liabilities | 10/49 | €82,297 | €55,821 | -€26,476 | -32.2% |
| Equity | 10/15 | -€6,271 | -€10,642 | -€4,371 | -69.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,771 | -€13,142 | -€4,371 | -49.8% |
| Amounts payable | 17/49 | €88,568 | €66,463 | -€22,105 | -25.0% |
| Amounts payable after more than one year | 17 | €34,308 | €25,327 | -€8,982 | -26.2% |
| Financial debts | 170/4 | €34,308 | €25,327 | -€8,982 | -26.2% |
| Amounts payable within one year | 42/48 | €54,260 | €41,137 | -€13,123 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €8,556 | €8,982 | +€426 | +5.0% |
| Trade debts | 44 | €31,179 | €10,308 | -€20,871 | -66.9% |
| Suppliers | 440/4 | €31,179 | €10,308 | -€20,871 | -66.9% |
| Taxes, remuneration and social security | 45 | €14,525 | €12,578 | -€1,947 | -13.4% |
| Taxes | 450/3 | €9,268 | €7,219 | -€2,049 | -22.1% |
| Remuneration and social security | 454/9 | €5,257 | €5,358 | +€102 | +1.9% |
| Other amounts payable | 47/48 | - | €9,269 | +€9,269 | |
| Remuneration, social security and pensions | 62 | €29,837 | €62,552 | +€32,715 | +109.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,802 | €15,507 | +€8,705 | +128.0% |
| Other operating charges | 640/8 | €1,656 | €1,248 | -€408 | -24.6% |
| Gross operating margin | 9900 | €47,797 | €77,577 | +€29,781 | +62.3% |
| Operating profit (loss) | 9901 | €9,501 | -€1,731 | -€11,231 | |
| Financial income | 75/76B | €8 | €21 | +€13 | +156.3% |
| Recurring financial income | 75 | €8 | €21 | +€13 | +156.3% |
| Financial charges | 65/66B | €1,737 | €2,512 | +€776 | +44.7% |
| Recurring financial charges | 65 | €1,737 | €2,512 | +€776 | +44.7% |
| Profit (loss) for the period before taxes | 9903 | €7,772 | -€4,222 | -€11,994 | |
| Income taxes | 67/77 | €72 | €149 | +€76 | +105.7% |
| Profit (loss) for the period | 9904 | €7,700 | -€4,371 | -€12,071 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,700 | -€4,371 | -€12,071 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.