BW GROEP: 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 GROEP
Largest movements
- Receivables within one year -€124,791
down €124,791 (-91.0%), from €137,208 to €12,417
of which Trade receivables: -€122,862
- Tangible fixed assets -€55,383
down €55,383 (-6.5%), from €846,323 to €790,939
- Debts after one year -€70,871
down €70,871 (-16.5%), from €429,637 to €358,767
- Trade debts -€59,779
down €59,779 (-98.3%), from €60,814 to €1,035
- Other debts -€48,379
down €48,379 (-20.3%), from €238,521 to €190,142
- Gross operating margin -€52,229
down €52,229 (-27.8%), from €188,209 to €135,980
- Depreciation -€40,927
down €40,927 (-42.5%), from €96,310 to €55,383
- Financial charges +€7,796
up €7,796 (+101%), from €7,701 to €15,497
- Taxes -€4,451
down €4,451 (-57.8%), from €7,700 to €3,249
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 | €1,003,723 | €819,808 | -€183,915 | -18.3% |
| Fixed assets | 21/28 | €846,323 | €790,939 | -€55,383 | -6.5% |
| Tangible fixed assets | 22/27 | €846,323 | €790,939 | -€55,383 | -6.5% |
| Land and buildings | 22 | €718,297 | €692,752 | -€25,545 | -3.6% |
| Plant, machinery and equipment | 23 | €31,535 | €26,804 | -€4,731 | -15.0% |
| Furniture and vehicles | 24 | €96,491 | €71,383 | -€25,107 | -26.0% |
| Current assets | 29/58 | €157,400 | €28,868 | -€128,532 | -81.7% |
| Amounts receivable within one year | 40/41 | €137,208 | €12,417 | -€124,791 | -91.0% |
| Trade receivables | 40 | €130,106 | €7,244 | -€122,862 | -94.4% |
| Other amounts receivable | 41 | €7,102 | €5,173 | -€1,929 | -27.2% |
| Cash at bank and in hand | 54/58 | €13,179 | €9,957 | -€3,223 | -24.5% |
| Deferred charges and accrued income | 490/1 | €7,013 | €6,495 | -€518 | -7.4% |
| Total equity and liabilities | 10/49 | €1,003,723 | €819,808 | -€183,915 | -18.3% |
| Equity | 10/15 | €166,824 | €170,106 | +€3,282 | +2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €148,224 | €151,506 | +€3,282 | +2.2% |
| Distributable reserves | 133 | €148,224 | €151,506 | +€3,282 | +2.2% |
| Amounts payable | 17/49 | €836,898 | €649,701 | -€187,197 | -22.4% |
| Amounts payable after more than one year | 17 | €429,637 | €358,767 | -€70,871 | -16.5% |
| Financial debts | 170/4 | €429,637 | €358,767 | -€70,871 | -16.5% |
| Amounts payable within one year | 42/48 | €407,146 | €290,845 | -€116,300 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €73,912 | €72,690 | -€1,221 | -1.7% |
| Trade debts | 44 | €60,814 | €1,035 | -€59,779 | -98.3% |
| Suppliers | 440/4 | €60,814 | €1,035 | -€59,779 | -98.3% |
| Taxes, remuneration and social security | 45 | €33,899 | €26,977 | -€6,921 | -20.4% |
| Taxes | 450/3 | €21,607 | €16,989 | -€4,618 | -21.4% |
| Remuneration and social security | 454/9 | €12,292 | €9,989 | -€2,303 | -18.7% |
| Other amounts payable | 47/48 | €238,521 | €190,142 | -€48,379 | -20.3% |
| Accrued charges and deferred income | 492/3 | €115 | €89 | -€26 | -22.4% |
| Remuneration, social security and pensions | 62 | €49,195 | €50,887 | +€1,691 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,310 | €55,383 | -€40,927 | -42.5% |
| Other operating charges | 640/8 | €8,147 | €7,682 | -€465 | -5.7% |
| Gross operating margin | 9900 | €188,209 | €135,980 | -€52,229 | -27.8% |
| Operating profit (loss) | 9901 | €34,557 | €22,028 | -€12,529 | -36.3% |
| Financial income | 75/76B | €215 | €0 | -€215 | -100% |
| Recurring financial income | 75 | €215 | €0 | -€215 | -100% |
| Financial charges | 65/66B | €7,701 | €15,497 | +€7,796 | +101% |
| Recurring financial charges | 65 | €7,701 | €15,497 | +€7,796 | +101% |
| Profit (loss) for the period before taxes | 9903 | €27,071 | €6,531 | -€20,540 | -75.9% |
| Income taxes | 67/77 | €7,700 | €3,249 | -€4,451 | -57.8% |
| Profit (loss) for the period | 9904 | €19,371 | €3,282 | -€16,089 | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,371 | €3,282 | -€16,089 | -83.1% |
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 23 October 2026 via checked.be.