CCW 22: what changed
CCW 22
Largest movements
- Receivables within one year -€33,334
down €33,334 (-76.5%), from €43,596 to €10,262
of which Other amounts receivable: -€33,334
- Tangible fixed assets -€4,358
down €4,358 (-87.7%), from €4,966 to €609
of which Plant, machinery and equipment: -€2,677
- Reserves -€26,999
down €26,999 (-74.3%), from €36,360 to €9,360
- Tax, wage and social debts -€9,948
no longer reported in 2025 (was €9,948)
- Trade debts -€1,753
down €1,753 (-57.2%), from €3,064 to €1,311
- Gross operating margin +€34,138
up €34,138 (+60.1%), from -€56,826 to -€22,688
- Financial income -€3,209
down €3,209 (-73.7%), from €4,354 to €1,145
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 | €52,883 | €14,183 | -€38,700 | -73.2% |
| Formation expenses | 20 | €582 | €311 | -€271 | -46.6% |
| Fixed assets | 21/28 | €4,966 | €609 | -€4,358 | -87.7% |
| Tangible fixed assets | 22/27 | €4,966 | €609 | -€4,358 | -87.7% |
| Plant, machinery and equipment | 23 | €2,888 | €211 | -€2,677 | -92.7% |
| Furniture and vehicles | 24 | €2,078 | €397 | -€1,681 | -80.9% |
| Current assets | 29/58 | €47,335 | €13,264 | -€34,071 | -72.0% |
| Amounts receivable within one year | 40/41 | €43,596 | €10,262 | -€33,334 | -76.5% |
| Trade receivables | 40 | €176 | €176 | = | 0.0% |
| Other amounts receivable | 41 | €43,420 | €10,086 | -€33,334 | -76.8% |
| Cash at bank and in hand | 54/58 | €264 | €2 | -€262 | -99.3% |
| Deferred charges and accrued income | 490/1 | €3,475 | €3,000 | -€475 | -13.7% |
| Total equity and liabilities | 10/49 | €52,883 | €14,183 | -€38,700 | -73.2% |
| Equity | 10/15 | €39,860 | €12,860 | -€26,999 | -67.7% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €36,360 | €9,360 | -€26,999 | -74.3% |
| Distributable reserves | 133 | €36,360 | €9,360 | -€26,999 | -74.3% |
| Amounts payable | 17/49 | €13,023 | €1,323 | -€11,700 | -89.8% |
| Amounts payable within one year | 42/48 | €13,023 | €1,323 | -€11,700 | -89.8% |
| Financial debts | 43 | €12 | €12 | = | 0.0% |
| Credit institutions | 430/8 | €12 | €12 | = | 0.0% |
| Trade debts | 44 | €3,064 | €1,311 | -€1,753 | -57.2% |
| Suppliers | 440/4 | €3,064 | €1,311 | -€1,753 | -57.2% |
| Taxes, remuneration and social security | 45 | €9,948 | - | -€9,948 | |
| Taxes | 450/3 | €9,948 | - | -€9,948 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,842 | €4,628 | -€213 | -4.4% |
| Other operating charges | 640/8 | €387 | €713 | +€326 | +84.2% |
| Non-recurring operating charges | 66A | €70 | - | -€70 | |
| Gross operating margin | 9900 | -€56,826 | -€22,688 | +€34,138 | +60.1% |
| Operating profit (loss) | 9901 | -€62,125 | -€28,030 | +€34,096 | +54.9% |
| Financial income | 75/76B | €4,354 | €1,145 | -€3,209 | -73.7% |
| Recurring financial income | 75 | €4,354 | €1,145 | -€3,209 | -73.7% |
| Financial charges | 65/66B | €257 | €115 | -€143 | -55.5% |
| Recurring financial charges | 65 | €257 | €115 | -€143 | -55.5% |
| Profit (loss) for the period before taxes | 9903 | -€58,029 | -€26,999 | +€31,030 | +53.5% |
| Profit (loss) for the period | 9904 | -€58,029 | -€26,999 | +€31,030 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€58,029 | -€26,999 | +€31,030 | +53.5% |
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 2 November 2026 via checked.be.