Biwaco: 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.
Biwaco
Largest movements
- Cash +€16,963
up €16,963 (+46.4%), from €36,544 to €53,507
mainly Net result for the year (+€60,478) and Depreciation (+€26,325)
- Tangible fixed assets -€9,880
down €9,880 (-10.4%), from €94,719 to €84,840
of which Furniture and vehicles: -€18,472
- Deferred charges and accrued income +€5,052
up €5,052 (+160.4%), from €3,151 to €8,203
- Receivables within one year +€2,827
up €2,827 (+9.2%), from €30,864 to €33,692
of which Other amounts receivable: +€2,950
- Reserves +€60,478
up €60,478 (+118.1%), from €51,203 to €111,680
- Debts after one year -€29,578
down €29,578 (-71.2%), from €41,545 to €11,966
- Advances received -€22,500
no longer reported in 2025 (was €22,500)
- Tax, wage and social debts +€15,182
up €15,182 (+215.7%), from €7,038 to €22,220
of which Taxes: +€16,893
- Trade debts -€10,178
down €10,178 (-84.8%), from €12,000 to €1,823
- Gross operating margin +€54,971
up €54,971 (+60.0%), from €91,667 to €146,638
- Taxes +€16,883
up €16,883 (+260.1%), from €6,492 to €23,374
- Staff costs -€12,060
down €12,060 (-28.4%), from €42,512 to €30,452
- Depreciation +€9,242
up €9,242 (+54.1%), from €17,083 to €26,325
- Other operating charges -€1,479
down €1,479 (-35.7%), from €4,141 to €2,663
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 | €165,278 | €180,241 | +€14,962 | +9.1% |
| Fixed assets | 21/28 | €94,719 | €84,840 | -€9,880 | -10.4% |
| Tangible fixed assets | 22/27 | €94,719 | €84,840 | -€9,880 | -10.4% |
| Plant, machinery and equipment | 23 | €648 | €9,241 | +€8,593 | +1326.3% |
| Furniture and vehicles | 24 | €94,072 | €75,599 | -€18,472 | -19.6% |
| Current assets | 29/58 | €70,559 | €95,401 | +€24,842 | +35.2% |
| Amounts receivable within one year | 40/41 | €30,864 | €33,692 | +€2,827 | +9.2% |
| Trade receivables | 40 | €22,389 | €22,266 | -€123 | -0.5% |
| Other amounts receivable | 41 | €8,476 | €11,426 | +€2,950 | +34.8% |
| Cash at bank and in hand | 54/58 | €36,544 | €53,507 | +€16,963 | +46.4% |
| Deferred charges and accrued income | 490/1 | €3,151 | €8,203 | +€5,052 | +160.4% |
| Total equity and liabilities | 10/49 | €165,278 | €180,241 | +€14,962 | +9.1% |
| Equity | 10/15 | €53,203 | €113,680 | +€60,478 | +113.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €51,203 | €111,680 | +€60,478 | +118.1% |
| Distributable reserves | 133 | €51,203 | €111,680 | +€60,478 | +118.1% |
| Amounts payable | 17/49 | €112,076 | €66,560 | -€45,515 | -40.6% |
| Amounts payable after more than one year | 17 | €41,545 | €11,966 | -€29,578 | -71.2% |
| Financial debts | 170/4 | €41,545 | €11,966 | -€29,578 | -71.2% |
| Amounts payable within one year | 42/48 | €70,531 | €54,594 | -€15,937 | -22.6% |
| Current portion of amounts payable after more than one year | 42 | €28,161 | €29,578 | +€1,417 | +5.0% |
| Trade debts | 44 | €12,000 | €1,823 | -€10,178 | -84.8% |
| Suppliers | 440/4 | €12,000 | €1,823 | -€10,178 | -84.8% |
| Advances received on contracts in progress | 46 | €22,500 | - | -€22,500 | |
| Taxes, remuneration and social security | 45 | €7,038 | €22,220 | +€15,182 | +215.7% |
| Taxes | 450/3 | €5,308 | €22,201 | +€16,893 | +318.3% |
| Remuneration and social security | 454/9 | €1,730 | €18 | -€1,712 | -98.9% |
| Other amounts payable | 47/48 | €831 | €973 | +€142 | +17.1% |
| Remuneration, social security and pensions | 62 | €42,512 | €30,452 | -€12,060 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,083 | €26,325 | +€9,242 | +54.1% |
| Other operating charges | 640/8 | €4,141 | €2,663 | -€1,479 | -35.7% |
| Gross operating margin | 9900 | €91,667 | €146,638 | +€54,971 | +60.0% |
| Operating profit (loss) | 9901 | €27,931 | €87,198 | +€59,267 | +212.2% |
| Financial income | 75/76B | €0 | €14 | +€13 | +2779.2% |
| Recurring financial income | 75 | €0 | €14 | +€13 | +2779.2% |
| Financial charges | 65/66B | €3,166 | €3,359 | +€193 | +6.1% |
| Recurring financial charges | 65 | €3,166 | €3,359 | +€193 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €24,765 | €83,852 | +€59,087 | +238.6% |
| Income taxes | 67/77 | €6,492 | €23,374 | +€16,883 | +260.1% |
| Profit (loss) for the period | 9904 | €18,274 | €60,478 | +€42,204 | +231.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,274 | €60,478 | +€42,204 | +231.0% |
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 10 October 2026 via checked.be.