BWSDA: 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.
BWSDA
Largest movements
- Receivables within one year +€50,471
up €50,471 (+76.7%), from €65,776 to €116,247
of which Trade receivables: +€50,471
- Cash +€24,987
up €24,987 (+173.8%), from €14,381 to €39,367
mainly Net result for the year (+€75,641) and Other debts (+€63,936)
- Tangible fixed assets -€9,547
down €9,547 (-27.1%), from €35,289 to €25,742
of which Furniture and vehicles: -€5,660
- Other debts +€63,936
up €63,936 (+159.8%), from €40,000 to €103,936
- Reserves +€11,000
up €11,000 (+110.0%), from €10,000 to €21,000
- Debts after one year -€9,396
down €9,396 (-56.8%), from €16,549 to €7,153
- Tax, wage and social debts +€7,136
up €7,136 (+18.9%), from €37,844 to €44,980
of which Taxes: +€15,263
- Trade debts -€4,499
down €4,499 (-37.0%), from €12,162 to €7,663
- Gross operating margin +€47,368
up €47,368 (+74.9%), from €63,229 to €110,597
- Depreciation +€5,690
up €5,690 (+96.3%), from €5,908 to €11,599
- Taxes +€5,199
up €5,199 (+34.2%), from €15,204 to €20,403
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 | €132,583 | €197,370 | +€64,787 | +48.9% |
| Fixed assets | 21/28 | €35,289 | €25,742 | -€9,547 | -27.1% |
| Tangible fixed assets | 22/27 | €35,289 | €25,742 | -€9,547 | -27.1% |
| Plant, machinery and equipment | 23 | €310 | €0 | -€310 | -100.0% |
| Furniture and vehicles | 24 | €27,756 | €22,097 | -€5,660 | -20.4% |
| Leasing and similar rights | 25 | €7,223 | €3,645 | -€3,578 | -49.5% |
| Current assets | 29/58 | €97,294 | €171,628 | +€74,334 | +76.4% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €65,776 | €116,247 | +€50,471 | +76.7% |
| Trade receivables | 40 | €64,066 | €114,537 | +€50,471 | +78.8% |
| Other amounts receivable | 41 | €1,710 | €1,710 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,381 | €39,367 | +€24,987 | +173.8% |
| Deferred charges and accrued income | 490/1 | €2,138 | €1,014 | -€1,124 | -52.6% |
| Total equity and liabilities | 10/49 | €132,583 | €197,370 | +€64,787 | +48.9% |
| Equity | 10/15 | €14,328 | €24,968 | +€10,641 | +74.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €21,000 | +€11,000 | +110.0% |
| Distributable reserves | 133 | €10,000 | €21,000 | +€11,000 | +110.0% |
| Profit (loss) carried forward | 14 | €1,328 | €968 | -€359 | -27.1% |
| Amounts payable | 17/49 | €118,255 | €172,401 | +€54,146 | +45.8% |
| Amounts payable after more than one year | 17 | €16,549 | €7,153 | -€9,396 | -56.8% |
| Financial debts | 170/4 | €16,549 | €7,153 | -€9,396 | -56.8% |
| Amounts payable within one year | 42/48 | €101,706 | €165,248 | +€63,542 | +62.5% |
| Current portion of amounts payable after more than one year | 42 | €11,701 | €8,670 | -€3,031 | -25.9% |
| Trade debts | 44 | €12,162 | €7,663 | -€4,499 | -37.0% |
| Suppliers | 440/4 | €12,162 | €7,663 | -€4,499 | -37.0% |
| Taxes, remuneration and social security | 45 | €37,844 | €44,980 | +€7,136 | +18.9% |
| Taxes | 450/3 | €29,717 | €44,980 | +€15,263 | +51.4% |
| Remuneration and social security | 454/9 | €8,127 | - | -€8,127 | |
| Other amounts payable | 47/48 | €40,000 | €103,936 | +€63,936 | +159.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,908 | €11,599 | +€5,690 | +96.3% |
| Other operating charges | 640/8 | €1,899 | €2,027 | +€128 | +6.8% |
| Gross operating margin | 9900 | €63,229 | €110,597 | +€47,368 | +74.9% |
| Operating profit (loss) | 9901 | €55,422 | €96,971 | +€41,549 | +75.0% |
| Financial income | 75/76B | €50 | €85 | +€35 | +71.3% |
| Recurring financial income | 75 | €50 | €85 | +€35 | +71.3% |
| Financial charges | 65/66B | €471 | €1,013 | +€542 | +115.1% |
| Recurring financial charges | 65 | €471 | €1,013 | +€542 | +115.1% |
| Profit (loss) for the period before taxes | 9903 | €55,001 | €96,044 | +€41,042 | +74.6% |
| Income taxes | 67/77 | €15,204 | €20,403 | +€5,199 | +34.2% |
| Profit (loss) for the period | 9904 | €39,797 | €75,641 | +€35,843 | +90.1% |
| Profit (loss) for the period to be appropriated | 9905 | €39,797 | €75,641 | +€35,843 | +90.1% |
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 10 October 2026 via checked.be.