CW ADVISORY: 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.
CW ADVISORY
Largest movements
- Tangible fixed assets +€2,697
up €2,697 (+2.4%), from €113,678 to €116,375
of which Plant, machinery and equipment: +€7,801
- Advances received +€86,755
up €86,755 (+27011.2%), from €321 to €87,076
- Debts after one year -€62,668
down €62,668 (-100.0%), from €62,668 to €0
- Profit (loss) carried forward -€20,674
down €20,674 (-56.8%), from -€36,378 to -€57,051
- Short-term financial debts -€8,758
down €8,758 (-100.0%), from €8,758 to €0
- Trade debts +€8,216
up €8,216 (+222.7%), from €3,690 to €11,905
- Gross operating margin -€17,596
down €17,596, from €1,663 to -€15,933
- Financial income +€3,709
new in 2025: €3,709
of which Financial income: +€3,709
- Depreciation +€743
up €743 (+16.5%), from €4,515 to €5,259
- Financial charges -€355
down €355 (-18.2%), from €1,951 to €1,596
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 | €121,419 | €123,768 | +€2,350 | +1.9% |
| Fixed assets | 21/28 | €113,678 | €116,375 | +€2,697 | +2.4% |
| Tangible fixed assets | 22/27 | €113,678 | €116,375 | +€2,697 | +2.4% |
| Land and buildings | 22 | €110,932 | €106,882 | -€4,050 | -3.7% |
| Plant, machinery and equipment | 23 | €1,692 | €9,493 | +€7,801 | +461.0% |
| Furniture and vehicles | 24 | €1,054 | €0 | -€1,054 | -100.0% |
| Current assets | 29/58 | €7,741 | €7,393 | -€347 | -4.5% |
| Amounts receivable within one year | 40/41 | €241 | €0 | -€241 | -100.0% |
| Trade receivables | 40 | €241 | €0 | -€241 | -100.0% |
| Cash at bank and in hand | 54/58 | €7,500 | €7,393 | -€106 | -1.4% |
| Total equity and liabilities | 10/49 | €121,419 | €123,768 | +€2,350 | +1.9% |
| Equity | 10/15 | €22,082 | €1,409 | -€20,674 | -93.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,860 | €39,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €38,000 | €38,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,378 | -€57,051 | -€20,674 | -56.8% |
| Amounts payable | 17/49 | €99,336 | €122,360 | +€23,024 | +23.2% |
| Amounts payable after more than one year | 17 | €62,668 | €0 | -€62,668 | -100.0% |
| Financial debts | 170/4 | €62,668 | €0 | -€62,668 | -100.0% |
| Amounts payable within one year | 42/48 | €36,668 | €122,360 | +€85,692 | +233.7% |
| Current portion of amounts payable after more than one year | 42 | €23,747 | €23,379 | -€368 | -1.5% |
| Financial debts | 43 | €8,758 | €0 | -€8,758 | -100.0% |
| Credit institutions | 430/8 | €8,758 | €0 | -€8,758 | -100.0% |
| Trade debts | 44 | €3,690 | €11,905 | +€8,216 | +222.7% |
| Suppliers | 440/4 | €3,690 | €11,905 | +€8,216 | +222.7% |
| Advances received on contracts in progress | 46 | €321 | €87,076 | +€86,755 | +27011.2% |
| Taxes, remuneration and social security | 45 | €153 | €0 | -€153 | -100.0% |
| Taxes | 450/3 | €153 | €0 | -€153 | -100.0% |
| Remuneration, social security and pensions | 62 | €670 | €796 | +€126 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,515 | €5,259 | +€743 | +16.5% |
| Non-recurring operating charges | 66A | - | €800 | +€800 | |
| Gross operating margin | 9900 | €1,663 | -€15,933 | -€17,596 | |
| Operating profit (loss) | 9901 | -€3,522 | -€22,787 | -€19,265 | -546.9% |
| Financial income | 75/76B | - | €3,709 | +€3,709 | |
| Recurring financial income | 75 | - | €3,709 | +€3,709 | |
| Non-recurring financial income | 76B | - | €3,709 | +€3,709 | |
| Financial charges | 65/66B | €1,951 | €1,596 | -€355 | -18.2% |
| Recurring financial charges | 65 | €1,951 | €1,596 | -€355 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,474 | -€20,674 | -€15,200 | -277.7% |
| Profit (loss) for the period | 9904 | -€5,474 | -€20,674 | -€15,200 | -277.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,474 | -€20,674 | -€15,200 | -277.7% |
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 10 October 2026 via checked.be.