Biwico: 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.
Biwico
Largest movements
- Cash +€212,721
up €212,721 (+295%), from €72,090 to €284,811
mainly Net result for the year (+€148,872) and Investment in fixed assets (net) (+€105,843)
- Tangible fixed assets -€134,216
down €134,216 (-31.0%), from €432,554 to €298,338
of which Other tangible fixed assets: -€120,737
- Reserves +€148,872
up €148,872 (+56.5%), from €263,596 to €412,468
of which Distributable reserves: +€148,872
- Debts after one year -€70,992
down €70,992 (-42.7%), from €166,264 to €95,272
- Tax, wage and social debts +€9,001
up €9,001 (+85.8%), from €10,492 to €19,493
- Gross operating margin +€172,594
up €172,594 (+199%), from €86,812 to €259,406
- Taxes +€57,100
up €57,100 (+390%), from €14,656 to €71,756
- Depreciation -€4,961
down €4,961 (-14.9%), from €33,334 to €28,373
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.
Derived cash bridge
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 | €504,802 | €586,539 | +€81,737 | +16.2% |
| Fixed assets | 21/28 | €432,554 | €298,338 | -€134,216 | -31.0% |
| Tangible fixed assets | 22/27 | €432,554 | €298,338 | -€134,216 | -31.0% |
| Land and buildings | 22 | €2,046 | €1,761 | -€285 | -13.9% |
| Plant, machinery and equipment | 23 | €742 | €1,368 | +€625 | +84.3% |
| Furniture and vehicles | 24 | €44,373 | €30,553 | -€13,820 | -31.1% |
| Other tangible fixed assets | 26 | €385,394 | €264,657 | -€120,737 | -31.3% |
| Current assets | 29/58 | €72,247 | €288,200 | +€215,953 | +299% |
| Amounts receivable within one year | 40/41 | €60 | €3,390 | +€3,330 | +5,597% |
| Trade receivables | 40 | €60 | €72 | +€12 | +20.8% |
| Other amounts receivable | 41 | - | €3,318 | +€3,318 | |
| Cash at bank and in hand | 54/58 | €72,090 | €284,811 | +€212,721 | +295% |
| Deferred charges and accrued income | 490/1 | €98 | - | -€98 | |
| Total equity and liabilities | 10/49 | €504,802 | €586,539 | +€81,737 | +16.2% |
| Equity | 10/15 | €282,961 | €431,833 | +€148,872 | +52.6% |
| Contributions | 10/11 | €19,365 | €19,365 | = | 0.0% |
| Reserves | 13 | €263,596 | €412,468 | +€148,872 | +56.5% |
| Tax-exempt reserves | 132 | €37,462 | €37,462 | = | 0.0% |
| Distributable reserves | 133 | €226,134 | €375,006 | +€148,872 | +65.8% |
| Amounts payable | 17/49 | €221,840 | €154,706 | -€67,135 | -30.3% |
| Amounts payable after more than one year | 17 | €166,264 | €95,272 | -€70,992 | -42.7% |
| Financial debts | 170/4 | €166,264 | €95,272 | -€70,992 | -42.7% |
| Amounts payable within one year | 42/48 | €52,391 | €55,684 | +€3,293 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €39,956 | €34,108 | -€5,848 | -14.6% |
| Trade debts | 44 | €368 | €2,041 | +€1,673 | +455% |
| Suppliers | 440/4 | €368 | €2,041 | +€1,673 | +455% |
| Taxes, remuneration and social security | 45 | €10,492 | €19,493 | +€9,001 | +85.8% |
| Taxes | 450/3 | €10,492 | €19,493 | +€9,001 | +85.8% |
| Other amounts payable | 47/48 | €1,574 | €41 | -€1,533 | -97.4% |
| Accrued charges and deferred income | 492/3 | €3,185 | €3,750 | +€565 | +17.7% |
| Non-recurring operating income | 76A | - | €156,335 | +€156,335 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,334 | €28,373 | -€4,961 | -14.9% |
| Other operating charges | 640/8 | €3,690 | €3,786 | +€95 | +2.6% |
| Gross operating margin | 9900 | €86,812 | €259,406 | +€172,594 | +199% |
| Operating profit (loss) | 9901 | €49,787 | €227,247 | +€177,460 | +356% |
| Financial income | 75/76B | €233 | €1,199 | +€966 | +414% |
| Recurring financial income | 75 | €233 | €1,199 | +€966 | +414% |
| Financial charges | 65/66B | €6,511 | €7,819 | +€1,309 | +20.1% |
| Recurring financial charges | 65 | €6,511 | €7,819 | +€1,309 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | €43,510 | €220,628 | +€177,118 | +407% |
| Income taxes | 67/77 | €14,656 | €71,756 | +€57,100 | +390% |
| Profit (loss) for the period | 9904 | €28,853 | €148,872 | +€120,019 | +416% |
| Profit (loss) for the period to be appropriated | 9905 | €28,853 | €148,872 | +€120,019 | +416% |
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 17 October 2026 via checked.be.