BWTEC: what changed
BWTEC
Largest movements
- Cash -€91,875
down €91,875 (-33.3%), from €275,945 to €184,070
mainly Other debts (-€202,003) and Contributions, distributions and other (-€150,000)
- Receivables within one year -€62,754
down €62,754 (-32.4%), from €193,724 to €130,969
of which Trade receivables: -€59,595
- Stocks and contracts +€34,383
up €34,383 (+19.3%), from €177,706 to €212,089
of which Contracts in progress: +€77,500
- Tangible fixed assets -€9,635
down €9,635 (-4.4%), from €218,639 to €209,004
of which Furniture and vehicles: -€12,149
- Other debts -€202,003
down €202,003 (-55.0%), from €367,065 to €165,061
- Trade debts +€23,342
up €23,342 (+29.3%), from €79,770 to €103,112
- Profit (loss) carried forward +€17,860
up €17,860 (+91,823%), from €19 to €17,879
- Debts after one year +€15,517
up €15,517 (+32.7%), from €47,414 to €62,931
- Current portion of long-term debt +€12,890
up €12,890 (+103%), from €12,455 to €25,345
- Gross operating margin +€13,516
up €13,516 (+5.2%), from €262,428 to €275,944
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €873,358 | €737,963 | -€135,394 | -15.5% |
| Fixed assets | 21/28 | €218,639 | €209,004 | -€9,635 | -4.4% |
| Tangible fixed assets | 22/27 | €218,639 | €209,004 | -€9,635 | -4.4% |
| Land and buildings | 22 | €71,203 | €66,195 | -€5,007 | -7.0% |
| Plant, machinery and equipment | 23 | €83,820 | €102,406 | +€18,586 | +22.2% |
| Furniture and vehicles | 24 | €51,592 | €39,444 | -€12,149 | -23.5% |
| Leasing and similar rights | 25 | €12,024 | €960 | -€11,064 | -92.0% |
| Current assets | 29/58 | €654,719 | €528,959 | -€125,760 | -19.2% |
| Stocks and contracts in progress | 3 | €177,706 | €212,089 | +€34,383 | +19.3% |
| Stocks | 30/36 | €170,206 | €127,089 | -€43,117 | -25.3% |
| Contracts in progress | 37 | €7,500 | €85,000 | +€77,500 | +1,033% |
| Amounts receivable within one year | 40/41 | €193,724 | €130,969 | -€62,754 | -32.4% |
| Trade receivables | 40 | €182,360 | €122,765 | -€59,595 | -32.7% |
| Other amounts receivable | 41 | €11,364 | €8,204 | -€3,160 | -27.8% |
| Cash at bank and in hand | 54/58 | €275,945 | €184,070 | -€91,875 | -33.3% |
| Deferred charges and accrued income | 490/1 | €7,344 | €1,830 | -€5,514 | -75.1% |
| Total equity and liabilities | 10/49 | €873,358 | €737,963 | -€135,394 | -15.5% |
| Equity | 10/15 | €363,619 | €381,479 | +€17,860 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €345,000 | €345,000 | = | 0.0% |
| Distributable reserves | 133 | €345,000 | €345,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19 | €17,879 | +€17,860 | +91,823% |
| Amounts payable | 17/49 | €509,738 | €356,484 | -€153,254 | -30.1% |
| Amounts payable after more than one year | 17 | €47,414 | €62,931 | +€15,517 | +32.7% |
| Financial debts | 170/4 | €47,414 | €62,931 | +€15,517 | +32.7% |
| Amounts payable within one year | 42/48 | €462,325 | €293,553 | -€168,771 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €12,455 | €25,345 | +€12,890 | +103% |
| Trade debts | 44 | €79,770 | €103,112 | +€23,342 | +29.3% |
| Suppliers | 440/4 | €79,770 | €103,112 | +€23,342 | +29.3% |
| Taxes, remuneration and social security | 45 | €3,035 | €35 | -€3,000 | -98.8% |
| Taxes | 450/3 | €3,035 | €35 | -€3,000 | -98.8% |
| Other amounts payable | 47/48 | €367,065 | €165,061 | -€202,003 | -55.0% |
| Non-recurring operating income | 76A | - | €4,333 | +€4,333 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,408 | €60,425 | +€1,017 | +1.7% |
| Other operating charges | 640/8 | €1,180 | €3,109 | +€1,929 | +163% |
| Gross operating margin | 9900 | €262,428 | €275,944 | +€13,516 | +5.2% |
| Operating profit (loss) | 9901 | €201,840 | €212,410 | +€10,570 | +5.2% |
| Financial income | 75/76B | €5,138 | €4,211 | -€926 | -18.0% |
| Recurring financial income | 75 | €5,138 | €4,211 | -€926 | -18.0% |
| Financial charges | 65/66B | €1,804 | €1,695 | -€109 | -6.0% |
| Recurring financial charges | 65 | €1,804 | €1,695 | -€109 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €205,174 | €214,926 | +€9,752 | +4.8% |
| Income taxes | 67/77 | €47,056 | €47,066 | +€11 | 0.0% |
| Profit (loss) for the period | 9904 | €158,118 | €167,860 | +€9,742 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €158,118 | €167,860 | +€9,742 | +6.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.