BW CHAUFFAGE: 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.
BW CHAUFFAGE
Largest movements
- Receivables within one year +€43,203
up €43,203 (+132%), from €32,815 to €76,017
of which Trade receivables: +€50,061
- Tangible fixed assets +€16,655
up €16,655 (+83.2%), from €20,019 to €36,674
of which Land and buildings: +€26,819
- Cash -€8,790
down €8,790 (-92.5%), from €9,506 to €716
mainly Receivables within one year (-€43,203) and Investment in fixed assets (net) (-€26,880)
- Other debts +€31,788
new in 2025: €31,788
- Profit (loss) carried forward -€22,066
down €22,066 (-97.9%), from €22,529 to €463
- Reserves +€19,450
up €19,450 (+1,046%), from €1,860 to €21,310
of which Distributable reserves: +€19,450
- Debts after one year +€18,893
new in 2025: €18,893
- Current portion of long-term debt +€4,395
new in 2025: €4,395
- Financial charges +€47,401
up €47,401 (+21,018%), from €226 to €47,626
- Gross operating margin +€17,936
up €17,936 (+43.8%), from €40,996 to €58,932
- Taxes -€4,503
down €4,503 (-90.1%), from €5,000 to €497
- Depreciation -€1,660
down €1,660 (-14.0%), from €11,885 to €10,225
- Other operating charges -€1,462
down €1,462 (-85.2%), from €1,717 to €254
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 | €65,539 | €116,607 | +€51,068 | +77.9% |
| Fixed assets | 21/28 | €23,219 | €39,874 | +€16,655 | +71.7% |
| Tangible fixed assets | 22/27 | €20,019 | €36,674 | +€16,655 | +83.2% |
| Land and buildings | 22 | - | €26,819 | +€26,819 | |
| Plant, machinery and equipment | 23 | €770 | €405 | -€365 | -47.4% |
| Furniture and vehicles | 24 | €19,249 | €9,450 | -€9,799 | -50.9% |
| Financial fixed assets | 28 | €3,200 | €3,200 | = | 0.0% |
| Current assets | 29/58 | €42,320 | €76,733 | +€34,413 | +81.3% |
| Amounts receivable within one year | 40/41 | €32,815 | €76,017 | +€43,203 | +132% |
| Trade receivables | 40 | €22,988 | €73,049 | +€50,061 | +218% |
| Other amounts receivable | 41 | €9,827 | €2,969 | -€6,858 | -69.8% |
| Cash at bank and in hand | 54/58 | €9,506 | €716 | -€8,790 | -92.5% |
| Total equity and liabilities | 10/49 | €65,539 | €116,607 | +€51,068 | +77.9% |
| Equity | 10/15 | €25,989 | €23,373 | -€2,616 | -10.1% |
| Contributions | 10/11 | €1,600 | €1,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €21,310 | +€19,450 | +1,046% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €19,450 | +€19,450 | |
| Profit (loss) carried forward | 14 | €22,529 | €463 | -€22,066 | -97.9% |
| Amounts payable | 17/49 | €39,550 | €93,234 | +€53,684 | +136% |
| Amounts payable after more than one year | 17 | - | €18,893 | +€18,893 | |
| Financial debts | 170/4 | - | €18,893 | +€18,893 | |
| Amounts payable within one year | 42/48 | €39,550 | €74,126 | +€34,576 | +87.4% |
| Current portion of amounts payable after more than one year | 42 | - | €4,395 | +€4,395 | |
| Trade debts | 44 | €34,925 | €36,251 | +€1,326 | +3.8% |
| Suppliers | 440/4 | €34,925 | €36,251 | +€1,326 | +3.8% |
| Taxes, remuneration and social security | 45 | €4,625 | €1,692 | -€2,933 | -63.4% |
| Taxes | 450/3 | €4,625 | €1,692 | -€2,933 | -63.4% |
| Other amounts payable | 47/48 | - | €31,788 | +€31,788 | |
| Accrued charges and deferred income | 492/3 | - | €215 | +€215 | |
| Non-recurring operating income | 76A | €449 | - | -€449 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,885 | €10,225 | -€1,660 | -14.0% |
| Other operating charges | 640/8 | €1,717 | €254 | -€1,462 | -85.2% |
| Gross operating margin | 9900 | €40,996 | €58,932 | +€17,936 | +43.8% |
| Operating profit (loss) | 9901 | €27,393 | €48,452 | +€21,058 | +76.9% |
| Financial income | 75/76B | €361 | €135 | -€227 | -62.7% |
| Recurring financial income | 75 | €361 | €135 | -€227 | -62.7% |
| Financial charges | 65/66B | €226 | €47,626 | +€47,401 | +21,018% |
| Recurring financial charges | 65 | €226 | €47,626 | +€47,401 | +21,018% |
| Profit (loss) for the period before taxes | 9903 | €27,529 | €960 | -€26,569 | -96.5% |
| Income taxes | 67/77 | €5,000 | €497 | -€4,503 | -90.1% |
| Profit (loss) for the period | 9904 | €22,529 | €463 | -€22,066 | -97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,529 | €463 | -€22,066 | -97.9% |
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 27 October 2026 via checked.be.