CW-Concept: 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-Concept
Largest movements
- Cash +€428,784
up €428,784 (+1941.1%), from €22,090 to €450,874
mainly Net result for the year (+€235,579) and Investment in fixed assets (net) (+€106,550)
- Tangible fixed assets -€119,430
down €119,430 (-86.0%), from €138,808 to €19,378
of which Land and buildings: -€119,283
- Receivables within one year -€84,950
down €84,950 (-98.7%), from €86,084 to €1,135
of which Other amounts receivable: -€79,855
- Reserves +€235,579
up €235,579 (+134.2%), from €175,544 to €411,122
of which Distributable reserves: +€235,579
- Debts after one year -€23,021
no longer reported in 2025 (was €23,021)
- Tax, wage and social debts +€18,955
up €18,955 (+216.2%), from €8,767 to €27,722
- Current portion of long-term debt -€7,990
no longer reported in 2025 (was €7,990)
- Financial income +€250,274
up €250,274 (+180247.9%), from €139 to €250,413
of which Non-recurring financial income: +€248,733
- Gross operating margin -€37,530
down €37,530 (-55.1%), from €68,086 to €30,556
- Taxes +€12,611
up €12,611 (+87.6%), from €14,396 to €27,006
- Write-downs +€1,151
no longer reported in 2025 (was -€1,151)
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 | €254,356 | €477,279 | +€222,923 | +87.6% |
| Fixed assets | 21/28 | €145,075 | €24,378 | -€120,697 | -83.2% |
| Tangible fixed assets | 22/27 | €138,808 | €19,378 | -€119,430 | -86.0% |
| Land and buildings | 22 | €119,283 | - | -€119,283 | |
| Furniture and vehicles | 24 | €19,525 | €19,378 | -€147 | -0.8% |
| Financial fixed assets | 28 | €6,267 | €5,000 | -€1,267 | -20.2% |
| Current assets | 29/58 | €109,281 | €452,901 | +€343,620 | +314.4% |
| Amounts receivable within one year | 40/41 | €86,084 | €1,135 | -€84,950 | -98.7% |
| Trade receivables | 40 | €6,050 | €955 | -€5,095 | -84.2% |
| Other amounts receivable | 41 | €80,034 | €179 | -€79,855 | -99.8% |
| Cash at bank and in hand | 54/58 | €22,090 | €450,874 | +€428,784 | +1941.1% |
| Deferred charges and accrued income | 490/1 | €1,107 | €892 | -€214 | -19.4% |
| Total equity and liabilities | 10/49 | €254,356 | €477,279 | +€222,923 | +87.6% |
| Equity | 10/15 | €204,834 | €440,412 | +€235,579 | +115.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €175,544 | €411,122 | +€235,579 | +134.2% |
| 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 | €173,684 | €409,262 | +€235,579 | +135.6% |
| Profit (loss) carried forward | 14 | €10,690 | €10,690 | +€0 | 0.0% |
| Amounts payable | 17/49 | €49,523 | €36,867 | -€12,656 | -25.6% |
| Amounts payable after more than one year | 17 | €23,021 | - | -€23,021 | |
| Financial debts | 170/4 | €23,021 | - | -€23,021 | |
| Amounts payable within one year | 42/48 | €26,501 | €36,867 | +€10,366 | +39.1% |
| Current portion of amounts payable after more than one year | 42 | €7,990 | - | -€7,990 | |
| Trade debts | 44 | €9,607 | €8,382 | -€1,225 | -12.7% |
| Suppliers | 440/4 | €9,607 | €8,382 | -€1,225 | -12.7% |
| Taxes, remuneration and social security | 45 | €8,767 | €27,722 | +€18,955 | +216.2% |
| Taxes | 450/3 | €8,767 | €27,722 | +€18,955 | +216.2% |
| Other amounts payable | 47/48 | €137 | €762 | +€625 | +455.4% |
| Non-recurring operating income | 76A | €1,992 | €30,717 | +€28,725 | +1441.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,643 | €14,147 | -€496 | -3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,151 | - | +€1,151 | |
| Other operating charges | 640/8 | €2,876 | €3,051 | +€175 | +6.1% |
| Gross operating margin | 9900 | €68,086 | €30,556 | -€37,530 | -55.1% |
| Operating profit (loss) | 9901 | €51,718 | €13,358 | -€38,360 | -74.2% |
| Financial income | 75/76B | €139 | €250,413 | +€250,274 | +180247.9% |
| Recurring financial income | 75 | €139 | €1,680 | +€1,541 | +1110.0% |
| Non-recurring financial income | 76B | - | €248,733 | +€248,733 | |
| Financial charges | 65/66B | €1,326 | €1,186 | -€140 | -10.5% |
| Recurring financial charges | 65 | €1,326 | €1,186 | -€140 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €50,531 | €262,585 | +€212,054 | +419.7% |
| Income taxes | 67/77 | €14,396 | €27,006 | +€12,611 | +87.6% |
| Profit (loss) for the period | 9904 | €36,135 | €235,579 | +€199,443 | +551.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,135 | €235,579 | +€199,443 | +551.9% |
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 9 October 2026 via checked.be.