BW TECHNICS: 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.
BW TECHNICS
Largest movements
- Stocks and contracts -€19,623
down €19,623 (-22.4%), from €87,447 to €67,824
of which Contracts in progress: -€13,599
- Cash +€2,562
up €2,562 (+38.1%), from €6,726 to €9,288
mainly Other debts (+€26,997) and Stocks and contracts (+€19,623)
- Tangible fixed assets +€2,489
up €2,489 (+11.4%), from €21,783 to €24,272
- Deferred charges and accrued income +€1,703
up €1,703 (+139.8%), from €1,218 to €2,921
- Tax, wage and social debts -€27,565
down €27,565 (-98.4%), from €28,024 to €459
of which Remuneration and social security: -€27,811
- Other debts +€26,997
up €26,997 (+90.4%), from €29,870 to €56,867
- Short-term financial debts -€15,914
down €15,914 (-100.0%), from €15,914 to €0
- Reserves +€6,509
up €6,509 (+32.8%), from €19,831 to €26,340
- Debts after one year -€6,000
down €6,000 (-33.3%), from €18,000 to €12,000
- Gross operating margin +€19,701
up €19,701 (+438.3%), from €4,495 to €24,196
- Depreciation +€4,611
up €4,611 (+333.6%), from €1,382 to €5,993
- Taxes +€4,532
up €4,532 (+2232.7%), from €203 to €4,735
- Financial charges -€543
down €543 (-27.9%), from €1,950 to €1,407
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 | €128,336 | €115,302 | -€13,034 | -10.2% |
| Fixed assets | 21/28 | €22,783 | €25,272 | +€2,489 | +10.9% |
| Intangible fixed assets | 21 | €1,000 | €1,001 | +€1 | +0.1% |
| Tangible fixed assets | 22/27 | €21,783 | €24,272 | +€2,489 | +11.4% |
| Furniture and vehicles | 24 | €21,783 | €24,272 | +€2,489 | +11.4% |
| Current assets | 29/58 | €105,553 | €90,029 | -€15,524 | -14.7% |
| Stocks and contracts in progress | 3 | €87,447 | €67,824 | -€19,623 | -22.4% |
| Stocks | 30/36 | €60,248 | €54,224 | -€6,024 | -10.0% |
| Contracts in progress | 37 | €27,199 | €13,600 | -€13,599 | -50.0% |
| Amounts receivable within one year | 40/41 | €10,162 | €9,996 | -€166 | -1.6% |
| Trade receivables | 40 | €5,000 | €6,761 | +€1,761 | +35.2% |
| Other amounts receivable | 41 | €5,162 | €3,235 | -€1,927 | -37.3% |
| Cash at bank and in hand | 54/58 | €6,726 | €9,288 | +€2,562 | +38.1% |
| Deferred charges and accrued income | 490/1 | €1,218 | €2,921 | +€1,703 | +139.8% |
| Total equity and liabilities | 10/49 | €128,336 | €115,302 | -€13,034 | -10.2% |
| Equity | 10/15 | €30,226 | €41,840 | +€11,614 | +38.4% |
| Contributions | 10/11 | €15,500 | €15,500 | = | 0.0% |
| Reserves | 13 | €19,831 | €26,340 | +€6,509 | +32.8% |
| Distributable reserves | 133 | €19,831 | €26,340 | +€6,509 | +32.8% |
| Profit (loss) carried forward | 14 | -€5,105 | €0 | +€5,105 | |
| Amounts payable | 17/49 | €98,110 | €73,462 | -€24,648 | -25.1% |
| Amounts payable after more than one year | 17 | €18,000 | €12,000 | -€6,000 | -33.3% |
| Financial debts | 170/4 | €18,000 | €12,000 | -€6,000 | -33.3% |
| Amounts payable within one year | 42/48 | €80,110 | €61,462 | -€18,648 | -23.3% |
| Financial debts | 43 | €15,914 | €0 | -€15,914 | -100.0% |
| Credit institutions | 430/8 | €15,914 | €0 | -€15,914 | -100.0% |
| Trade debts | 44 | €6,302 | €4,136 | -€2,166 | -34.4% |
| Suppliers | 440/4 | €6,302 | €4,136 | -€2,166 | -34.4% |
| Taxes, remuneration and social security | 45 | €28,024 | €459 | -€27,565 | -98.4% |
| Taxes | 450/3 | €213 | €459 | +€246 | +115.3% |
| Remuneration and social security | 454/9 | €27,811 | €0 | -€27,811 | -100.0% |
| Other amounts payable | 47/48 | €29,870 | €56,867 | +€26,997 | +90.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,382 | €5,993 | +€4,611 | +333.6% |
| Other operating charges | 640/8 | €1,075 | €943 | -€132 | -12.2% |
| Gross operating margin | 9900 | €4,495 | €24,196 | +€19,701 | +438.3% |
| Operating profit (loss) | 9901 | €2,038 | €17,259 | +€15,221 | +746.9% |
| Financial income | 75/76B | €442 | €496 | +€54 | +12.2% |
| Recurring financial income | 75 | €442 | €496 | +€54 | +12.2% |
| Financial charges | 65/66B | €1,950 | €1,407 | -€543 | -27.9% |
| Recurring financial charges | 65 | €1,950 | €1,407 | -€543 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €530 | €16,349 | +€15,819 | +2984.7% |
| Income taxes | 67/77 | €203 | €4,735 | +€4,532 | +2232.7% |
| Profit (loss) for the period | 9904 | €327 | €11,613 | +€11,286 | +3451.5% |
| Profit (loss) for the period to be appropriated | 9905 | €327 | €11,613 | +€11,286 | +3451.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.