C.W.A.S.: 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.
C.W.A.S.
Largest movements
- Cash +€18,772
up €18,772 (+43.3%), from €43,308 to €62,081
mainly Net result for the year (+€27,912) and Other debts (+€11,664)
- Receivables within one year -€3,844
down €3,844 (-27.6%), from €13,906 to €10,062
of which Other amounts receivable: -€2,900
- Tangible fixed assets +€3,185
up €3,185 (+56.2%), from €5,670 to €8,855
of which Plant, machinery and equipment: +€3,612
- Other debts +€11,664
up €11,664 (+58.8%), from €19,852 to €31,516
- Accrued charges and deferred income +€5,372
up €5,372 (+119%), from €4,527 to €9,899
- Trade debts -€3,741
down €3,741 (-76.5%), from €4,891 to €1,150
- Reserves +€2,912
up €2,912 (+9.5%), from €30,633 to €33,545
- Tax, wage and social debts +€2,004
up €2,004 (+44.1%), from €4,546 to €6,550
of which Remuneration and social security: +€1,349
- Gross operating margin +€25,797
up €25,797 (+56.7%), from €45,511 to €71,307
- Staff costs +€14,793
up €14,793 (+75.8%), from €19,512 to €34,306
- Taxes -€836
down €836 (-10.0%), from €8,355 to €7,519
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 | €64,449 | €82,660 | +€18,211 | +28.3% |
| Formation expenses | 20 | €275 | €39 | -€236 | -85.7% |
| Fixed assets | 21/28 | €5,670 | €8,855 | +€3,185 | +56.2% |
| Tangible fixed assets | 22/27 | €5,670 | €8,855 | +€3,185 | +56.2% |
| Plant, machinery and equipment | 23 | €3,264 | €6,876 | +€3,612 | +111% |
| Furniture and vehicles | 24 | €2,406 | €1,979 | -€427 | -17.8% |
| Current assets | 29/58 | €58,503 | €73,766 | +€15,262 | +26.1% |
| Amounts receivable within one year | 40/41 | €13,906 | €10,062 | -€3,844 | -27.6% |
| Trade receivables | 40 | €10,705 | €9,762 | -€944 | -8.8% |
| Other amounts receivable | 41 | €3,201 | €300 | -€2,900 | -90.6% |
| Cash at bank and in hand | 54/58 | €43,308 | €62,081 | +€18,772 | +43.3% |
| Deferred charges and accrued income | 490/1 | €1,289 | €1,623 | +€334 | +25.9% |
| Total equity and liabilities | 10/49 | €64,449 | €82,660 | +€18,211 | +28.3% |
| Equity | 10/15 | €30,633 | €33,545 | +€2,912 | +9.5% |
| Reserves | 13 | €30,633 | €33,545 | +€2,912 | +9.5% |
| Distributable reserves | 133 | €30,633 | €33,545 | +€2,912 | +9.5% |
| Amounts payable | 17/49 | €33,816 | €49,115 | +€15,299 | +45.2% |
| Amounts payable within one year | 42/48 | €29,290 | €39,216 | +€9,927 | +33.9% |
| Trade debts | 44 | €4,891 | €1,150 | -€3,741 | -76.5% |
| Suppliers | 440/4 | €4,891 | €1,150 | -€3,741 | -76.5% |
| Taxes, remuneration and social security | 45 | €4,546 | €6,550 | +€2,004 | +44.1% |
| Taxes | 450/3 | €1,801 | €2,456 | +€655 | +36.4% |
| Remuneration and social security | 454/9 | €2,746 | €4,094 | +€1,349 | +49.1% |
| Other amounts payable | 47/48 | €19,852 | €31,516 | +€11,664 | +58.8% |
| Accrued charges and deferred income | 492/3 | €4,527 | €9,899 | +€5,372 | +119% |
| Remuneration, social security and pensions | 62 | €19,512 | €34,306 | +€14,793 | +75.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,300 | €1,690 | +€390 | +30.0% |
| Other operating charges | 640/8 | €645 | €658 | +€12 | +1.9% |
| Gross operating margin | 9900 | €45,511 | €71,307 | +€25,797 | +56.7% |
| Operating profit (loss) | 9901 | €24,053 | €34,654 | +€10,601 | +44.1% |
| Financial income | 75/76B | €228 | €866 | +€638 | +280% |
| Recurring financial income | 75 | €228 | €866 | +€638 | +280% |
| Financial charges | 65/66B | €99 | €90 | -€9 | -9.4% |
| Recurring financial charges | 65 | €99 | €90 | -€9 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €24,183 | €35,431 | +€11,248 | +46.5% |
| Income taxes | 67/77 | €8,355 | €7,519 | -€836 | -10.0% |
| Profit (loss) for the period | 9904 | €15,828 | €27,912 | +€12,084 | +76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,828 | €27,912 | +€12,084 | +76.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.