Cadwork Belgium: what changed
Cadwork Belgium
Largest movements
- Cash +€97,272
up €97,272 (+54.5%), from €178,591 to €275,864
mainly Accrued charges and deferred income (+€45,158) and Receivables within one year (+€25,518)
- Receivables within one year -€25,518
down €25,518 (-23.3%), from €109,508 to €83,990
of which Trade receivables: -€25,518
- Tangible fixed assets -€7,959
down €7,959 (-71.0%), from €11,216 to €3,257
- Deferred charges and accrued income -€3,882
down €3,882 (-92.6%), from €4,194 to €312
- Accrued charges and deferred income +€45,158
up €45,158 (+28.6%), from €157,673 to €202,832
- Trade debts +€20,145
up €20,145 (+9,063%), from €222 to €20,367
- Other debts -€6,750
down €6,750 (-31.7%), from €21,307 to €14,557
- Gross operating margin +€13,011
up €13,011 (+20.6%), from €63,064 to €76,075
- Taxes +€8,915
up €8,915 (+149%), from €6,000 to €14,915
- Staff costs +€5,778
up €5,778 (+13.7%), from €42,168 to €47,945
- Financial charges -€1,744
down €1,744 (-28.6%), from €6,095 to €4,351
- Other operating charges +€868
up €868 (+96.6%), from €899 to €1,767
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 | €303,736 | €363,650 | +€59,913 | +19.7% |
| Fixed assets | 21/28 | €11,444 | €3,485 | -€7,959 | -69.5% |
| Tangible fixed assets | 22/27 | €11,216 | €3,257 | -€7,959 | -71.0% |
| Furniture and vehicles | 24 | €11,216 | €3,257 | -€7,959 | -71.0% |
| Financial fixed assets | 28 | €228 | €228 | = | 0.0% |
| Current assets | 29/58 | €292,293 | €360,165 | +€67,872 | +23.2% |
| Amounts receivable within one year | 40/41 | €109,508 | €83,990 | -€25,518 | -23.3% |
| Trade receivables | 40 | €108,908 | €83,390 | -€25,518 | -23.4% |
| Other amounts receivable | 41 | €600 | €600 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €178,591 | €275,864 | +€97,272 | +54.5% |
| Deferred charges and accrued income | 490/1 | €4,194 | €312 | -€3,882 | -92.6% |
| Total equity and liabilities | 10/49 | €303,736 | €363,650 | +€59,913 | +19.7% |
| Equity | 10/15 | €66,687 | €65,826 | -€861 | -1.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | €25,000 | = | 0.0% |
| Issued capital | 100 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,687 | €40,826 | -€861 | -2.1% |
| Amounts payable | 17/49 | €237,050 | €297,824 | +€60,774 | +25.6% |
| Amounts payable within one year | 42/48 | €79,376 | €94,992 | +€15,616 | +19.7% |
| Trade debts | 44 | €222 | €20,367 | +€20,145 | +9,063% |
| Suppliers | 440/4 | €222 | €20,367 | +€20,145 | +9,063% |
| Taxes, remuneration and social security | 45 | €57,847 | €60,068 | +€2,222 | +3.8% |
| Taxes | 450/3 | €47,867 | €48,957 | +€1,090 | +2.3% |
| Remuneration and social security | 454/9 | €9,979 | €11,111 | +€1,132 | +11.3% |
| Other amounts payable | 47/48 | €21,307 | €14,557 | -€6,750 | -31.7% |
| Accrued charges and deferred income | 492/3 | €157,673 | €202,832 | +€45,158 | +28.6% |
| Remuneration, social security and pensions | 62 | €42,168 | €47,945 | +€5,778 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,325 | €7,959 | -€366 | -4.4% |
| Other operating charges | 640/8 | €899 | €1,767 | +€868 | +96.6% |
| Gross operating margin | 9900 | €63,064 | €76,075 | +€13,011 | +20.6% |
| Operating profit (loss) | 9901 | €11,673 | €18,404 | +€6,730 | +57.7% |
| Financial income | 75/76B | €724 | €1 | -€723 | -99.9% |
| Recurring financial income | 75 | €724 | €1 | -€723 | -99.9% |
| Financial charges | 65/66B | €6,095 | €4,351 | -€1,744 | -28.6% |
| Recurring financial charges | 65 | €6,095 | €4,351 | -€1,744 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €6,302 | €14,054 | +€7,752 | +123% |
| Income taxes | 67/77 | €6,000 | €14,915 | +€8,915 | +149% |
| Profit (loss) for the period | 9904 | €302 | -€861 | -€1,163 | |
| Profit (loss) for the period to be appropriated | 9905 | €302 | -€861 | -€1,163 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.