BWE Management: 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.
BWE Management
Largest movements
- Cash +€20,901
up €20,901 (+77.1%), from €27,108 to €48,009
mainly Net result for the year (+€10,550) and Tax, wage and social debts (+€5,306)
- Receivables within one year -€3,056
down €3,056 (-32.9%), from €9,278 to €6,222
of which Trade receivables: -€3,046
- Deferred charges and accrued income -€570
down €570 (-30.5%), from €1,869 to €1,299
- Reserves +€10,550
up €10,550 (+45.8%), from €23,023 to €33,573
- Tax, wage and social debts +€5,306
up €5,306 (+54.7%), from €9,698 to €15,004
- Other debts +€1,801
new in 2025: €1,801
- Trade debts -€835
down €835 (-18.7%), from €4,467 to €3,632
- Gross operating margin -€7,302
down €7,302 (-30.1%), from €24,266 to €16,964
- Taxes -€3,147
down €3,147 (-44.9%), from €7,015 to €3,868
- Other operating charges +€726
up €726 (+57.7%), from €1,257 to €1,983
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 | €40,188 | €57,010 | +€16,821 | +41.9% |
| Fixed assets | 21/28 | €1,933 | €1,479 | -€454 | -23.5% |
| Tangible fixed assets | 22/27 | €1,933 | €1,479 | -€454 | -23.5% |
| Plant, machinery and equipment | 23 | €1,933 | €1,479 | -€454 | -23.5% |
| Current assets | 29/58 | €38,255 | €55,530 | +€17,276 | +45.2% |
| Amounts receivable within one year | 40/41 | €9,278 | €6,222 | -€3,056 | -32.9% |
| Trade receivables | 40 | €9,269 | €6,222 | -€3,046 | -32.9% |
| Other amounts receivable | 41 | €9 | €0 | -€9 | -100% |
| Cash at bank and in hand | 54/58 | €27,108 | €48,009 | +€20,901 | +77.1% |
| Deferred charges and accrued income | 490/1 | €1,869 | €1,299 | -€570 | -30.5% |
| Total equity and liabilities | 10/49 | €40,188 | €57,010 | +€16,821 | +41.9% |
| Equity | 10/15 | €26,023 | €36,573 | +€10,550 | +40.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €23,023 | €33,573 | +€10,550 | +45.8% |
| Distributable reserves | 133 | €23,023 | €33,573 | +€10,550 | +45.8% |
| Amounts payable | 17/49 | €14,165 | €20,436 | +€6,271 | +44.3% |
| Amounts payable within one year | 42/48 | €14,165 | €20,436 | +€6,271 | +44.3% |
| Trade debts | 44 | €4,467 | €3,632 | -€835 | -18.7% |
| Suppliers | 440/4 | €4,467 | €3,632 | -€835 | -18.7% |
| Taxes, remuneration and social security | 45 | €9,698 | €15,004 | +€5,306 | +54.7% |
| Taxes | 450/3 | €9,698 | €15,004 | +€5,306 | +54.7% |
| Other amounts payable | 47/48 | - | €1,801 | +€1,801 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268 | €454 | +€186 | +69.3% |
| Other operating charges | 640/8 | €1,257 | €1,983 | +€726 | +57.7% |
| Gross operating margin | 9900 | €24,266 | €16,964 | -€7,302 | -30.1% |
| Operating profit (loss) | 9901 | €22,741 | €14,527 | -€8,214 | -36.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €41 | €109 | +€68 | +164% |
| Recurring financial charges | 65 | €41 | €109 | +€68 | +164% |
| Profit (loss) for the period before taxes | 9903 | €22,699 | €14,418 | -€8,282 | -36.5% |
| Income taxes | 67/77 | €7,015 | €3,868 | -€3,147 | -44.9% |
| Profit (loss) for the period | 9904 | €15,685 | €10,550 | -€5,135 | -32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,685 | €10,550 | -€5,135 | -32.7% |
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 13 October 2026 via checked.be.