C&W Services: 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 Services
Largest movements
- Receivables within one year +€17,485
up €17,485 (+76.2%), from €22,934 to €40,419
of which Other amounts receivable: +€15,686
- Current investments -€17,186
down €17,186 (-18.8%), from €91,614 to €74,428
- Cash -€9,128
down €9,128 (-98.8%), from €9,240 to €112
mainly Debts after one year (-€21,699) and Receivables within one year (-€17,485)
- Debts after one year -€21,699
down €21,699 (-16.4%), from €132,660 to €110,961
of which Financial debts: -€19,874
- Reserves +€10,943
up €10,943 (+10.4%), from €105,362 to €116,306
- Trade debts +€10,295
up €10,295 (+181%), from €5,674 to €15,968
- Other debts -€10,010
down €10,010 (-100%), from €10,010 to €0
- Tax, wage and social debts -€3,313
down €3,313 (-18.5%), from €17,904 to €14,591
of which Taxes: -€6,547
- Gross operating margin -€130,944
down €130,944 (-84.6%), from €154,798 to €23,854
- Taxes -€32,337
down €32,337 (-74.4%), from €43,444 to €11,106
- Financial income +€7,947
up €7,947 (+887%), from €896 to €8,843
of which Financial income: +€8,727
- Financial charges +€2,983
up €2,983 (+54.0%), from €5,523 to €8,506
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 | €296,975 | €287,175 | -€9,800 | -3.3% |
| Fixed assets | 21/28 | €172,939 | €172,216 | -€723 | -0.4% |
| Intangible fixed assets | 21 | €4,000 | €4,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,438 | €715 | -€723 | -50.2% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,438 | €715 | -€723 | -50.2% |
| Financial fixed assets | 28 | €167,501 | €167,501 | = | 0.0% |
| Current assets | 29/58 | €124,036 | €114,959 | -€9,077 | -7.3% |
| Amounts receivable within one year | 40/41 | €22,934 | €40,419 | +€17,485 | +76.2% |
| Trade receivables | 40 | €1,792 | €3,592 | +€1,799 | +100% |
| Other amounts receivable | 41 | €21,142 | €36,827 | +€15,686 | +74.2% |
| Current investments | 50/53 | €91,614 | €74,428 | -€17,186 | -18.8% |
| Cash at bank and in hand | 54/58 | €9,240 | €112 | -€9,128 | -98.8% |
| Deferred charges and accrued income | 490/1 | €249 | €0 | -€249 | -100% |
| Total equity and liabilities | 10/49 | €296,975 | €287,175 | -€9,800 | -3.3% |
| Equity | 10/15 | €111,562 | €122,506 | +€10,943 | +9.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €105,362 | €116,306 | +€10,943 | +10.4% |
| Distributable reserves | 133 | €105,362 | €116,306 | +€10,943 | +10.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €185,413 | €164,670 | -€20,743 | -11.2% |
| Amounts payable after more than one year | 17 | €132,660 | €110,961 | -€21,699 | -16.4% |
| Financial debts | 170/4 | €130,835 | €110,961 | -€19,874 | -15.2% |
| Other amounts payable | 178/9 | €1,825 | €0 | -€1,825 | -100% |
| Amounts payable within one year | 42/48 | €52,752 | €53,709 | +€956 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €19,165 | €19,874 | +€709 | +3.7% |
| Financial debts | 43 | €0 | €3,275 | +€3,275 | |
| Credit institutions | 430/8 | €0 | €3,275 | +€3,275 | |
| Trade debts | 44 | €5,674 | €15,968 | +€10,295 | +181% |
| Suppliers | 440/4 | €5,674 | €15,968 | +€10,295 | +181% |
| Taxes, remuneration and social security | 45 | €17,904 | €14,591 | -€3,313 | -18.5% |
| Taxes | 450/3 | €17,904 | €11,357 | -€6,547 | -36.6% |
| Remuneration and social security | 454/9 | €0 | €3,234 | +€3,234 | |
| Other amounts payable | 47/48 | €10,010 | €0 | -€10,010 | -100% |
| Non-recurring operating income | 76A | €131,570 | - | -€131,570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €770 | €723 | -€48 | -6.2% |
| Other operating charges | 640/8 | €1,942 | €1,419 | -€523 | -26.9% |
| Gross operating margin | 9900 | €154,798 | €23,854 | -€130,944 | -84.6% |
| Operating profit (loss) | 9901 | €152,086 | €21,713 | -€130,373 | -85.7% |
| Financial income | 75/76B | €896 | €8,843 | +€7,947 | +887% |
| Recurring financial income | 75 | €116 | €8,843 | +€8,727 | +7,519% |
| Non-recurring financial income | 76B | €779 | - | -€779 | |
| Financial charges | 65/66B | €5,523 | €8,506 | +€2,983 | +54.0% |
| Recurring financial charges | 65 | €5,523 | €8,506 | +€2,983 | +54.0% |
| Profit (loss) for the period before taxes | 9903 | €147,458 | €22,050 | -€125,409 | -85.0% |
| Income taxes | 67/77 | €43,444 | €11,106 | -€32,337 | -74.4% |
| Profit (loss) for the period | 9904 | €104,014 | €10,943 | -€93,071 | -89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €104,014 | €10,943 | -€93,071 | -89.5% |
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 27 October 2026 via checked.be.