CDW: 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.
CDW
Largest movements
- Receivables within one year +€19,603
up €19,603 (+24.3%), from €80,780 to €100,383
of which Other amounts receivable: +€45,899
- Cash +€14,953
up €14,953 (+260.0%), from €5,752 to €20,704
mainly Depreciation (+€33,274) and Net result for the year (+€29,444)
- Tangible fixed assets +€8,076
up €8,076 (+4.1%), from €196,518 to €204,595
of which Leasing and similar rights: +€35,203
- Stocks and contracts +€5,209
up €5,209 (+50.7%), from €10,282 to €15,492
- Reserves +€29,444
up €29,444 (+229.0%), from €12,860 to €42,304
of which Distributable reserves: +€29,444
- Tax, wage and social debts +€19,109
up €19,109 (+496.2%), from €3,851 to €22,960
- Accrued charges and deferred income -€18,812
down €18,812 (-66.3%), from €28,370 to €9,558
- Debts after one year +€11,239
up €11,239 (+7.4%), from €150,863 to €162,102
- Current portion of long-term debt +€4,871
up €4,871 (+21.1%), from €23,035 to €27,906
- Gross operating margin +€32,918
up €32,918 (+63.4%), from €51,889 to €84,807
- Taxes +€13,120
up €13,120 (+9772.8%), from €134 to €13,254
- Financial income +€1,672
up €1,672 (+109.7%), from €1,524 to €3,196
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.
Cash bridge derived
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 | €293,491 | €341,312 | +€47,820 | +16.3% |
| Fixed assets | 21/28 | €196,518 | €204,595 | +€8,076 | +4.1% |
| Tangible fixed assets | 22/27 | €196,518 | €204,595 | +€8,076 | +4.1% |
| Land and buildings | 22 | €160,356 | €141,627 | -€18,729 | -11.7% |
| Plant, machinery and equipment | 23 | €2,895 | €1,647 | -€1,248 | -43.1% |
| Furniture and vehicles | 24 | €25,993 | €18,843 | -€7,150 | -27.5% |
| Leasing and similar rights | 25 | €7,274 | €42,477 | +€35,203 | +484.0% |
| Current assets | 29/58 | €96,973 | €136,717 | +€39,744 | +41.0% |
| Stocks and contracts in progress | 3 | €10,282 | €15,492 | +€5,209 | +50.7% |
| Stocks | 30/36 | €10,282 | €15,492 | +€5,209 | +50.7% |
| Amounts receivable within one year | 40/41 | €80,780 | €100,383 | +€19,603 | +24.3% |
| Trade receivables | 40 | €51,129 | €24,833 | -€26,296 | -51.4% |
| Other amounts receivable | 41 | €29,651 | €75,549 | +€45,899 | +154.8% |
| Cash at bank and in hand | 54/58 | €5,752 | €20,704 | +€14,953 | +260.0% |
| Deferred charges and accrued income | 490/1 | €159 | €138 | -€21 | -12.9% |
| Total equity and liabilities | 10/49 | €293,491 | €341,312 | +€47,820 | +16.3% |
| Equity | 10/15 | €36,397 | €65,841 | +€29,444 | +80.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €12,860 | €42,304 | +€29,444 | +229.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €12,860 | €42,304 | +€29,444 | +229.0% |
| Profit (loss) carried forward | 14 | €4,937 | €4,937 | = | 0.0% |
| Amounts payable | 17/49 | €257,094 | €275,471 | +€18,376 | +7.1% |
| Amounts payable after more than one year | 17 | €150,863 | €162,102 | +€11,239 | +7.4% |
| Financial debts | 170/4 | €150,863 | €162,102 | +€11,239 | +7.4% |
| Amounts payable within one year | 42/48 | €77,862 | €103,811 | +€25,949 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €23,035 | €27,906 | +€4,871 | +21.1% |
| Trade debts | 44 | €50,976 | €52,945 | +€1,969 | +3.9% |
| Suppliers | 440/4 | €50,976 | €52,945 | +€1,969 | +3.9% |
| Taxes, remuneration and social security | 45 | €3,851 | €22,960 | +€19,109 | +496.2% |
| Taxes | 450/3 | €3,851 | €22,960 | +€19,109 | +496.2% |
| Accrued charges and deferred income | 492/3 | €28,370 | €9,558 | -€18,812 | -66.3% |
| Non-recurring operating income | 76A | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,712 | €33,274 | -€438 | -1.3% |
| Other operating charges | 640/8 | €2,312 | €2,131 | -€181 | -7.8% |
| Gross operating margin | 9900 | €51,889 | €84,807 | +€32,918 | +63.4% |
| Operating profit (loss) | 9901 | €15,865 | €49,403 | +€33,538 | +211.4% |
| Financial income | 75/76B | €1,524 | €3,196 | +€1,672 | +109.7% |
| Recurring financial income | 75 | €1,524 | €3,196 | +€1,672 | +109.7% |
| Financial charges | 65/66B | €10,639 | €9,901 | -€738 | -6.9% |
| Recurring financial charges | 65 | €10,639 | €9,901 | -€738 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €6,750 | €42,698 | +€35,949 | +532.6% |
| Income taxes | 67/77 | €134 | €13,254 | +€13,120 | +9772.8% |
| Profit (loss) for the period | 9904 | €6,616 | €29,444 | +€22,829 | +345.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,616 | €29,444 | +€22,829 | +345.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.