CW Finances: what changed
CW Finances
Largest movements
- Cash +€53,602
up €53,602 (+316%), from €16,963 to €70,565
mainly Net result for the year (+€181,690) and Depreciation (+€40,755)
- Tangible fixed assets -€28,981
down €28,981 (-5.1%), from €569,152 to €540,171
of which Land and buildings: -€15,154
- Intangible fixed assets +€24,156
up €24,156 (+323%), from €7,487 to €31,642
- Deferred charges and accrued income +€20,168
up €20,168 (+40.8%), from €49,467 to €69,636
- Receivables within one year -€10,026
down €10,026 (-36.1%), from €27,757 to €17,731
of which Other amounts receivable: -€12,879
- Reserves +€81,690
up €81,690 (+50.7%), from €161,057 to €242,747
of which Distributable reserves: +€81,690
- Debts after one year -€52,866
down €52,866 (-13.8%), from €382,952 to €330,086
- Other debts +€22,147
up €22,147, from €0 to €22,147
- Tax, wage and social debts +€10,507
up €10,507 (+34.1%), from €30,857 to €41,365
of which Remuneration and social security: +€9,175
- Gross operating margin +€159,863
up €159,863 (+56.8%), from €281,306 to €441,170
- Taxes +€51,130
up €51,130 (+815%), from €6,276 to €57,406
- Other operating charges -€42,024
down €42,024 (-90.5%), from €46,449 to €4,425
- Staff costs +€34,149
up €34,149 (+31.8%), from €107,251 to €141,400
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 | €670,826 | €729,745 | +€58,919 | +8.8% |
| Fixed assets | 21/28 | €576,639 | €571,814 | -€4,825 | -0.8% |
| Intangible fixed assets | 21 | €7,487 | €31,642 | +€24,156 | +323% |
| Tangible fixed assets | 22/27 | €569,152 | €540,171 | -€28,981 | -5.1% |
| Land and buildings | 22 | €527,888 | €512,734 | -€15,154 | -2.9% |
| Plant, machinery and equipment | 23 | €25,250 | €20,256 | -€4,994 | -19.8% |
| Furniture and vehicles | 24 | €16,015 | €7,181 | -€8,834 | -55.2% |
| Current assets | 29/58 | €94,187 | €157,932 | +€63,744 | +67.7% |
| Amounts receivable within one year | 40/41 | €27,757 | €17,731 | -€10,026 | -36.1% |
| Trade receivables | 40 | €7,134 | €9,987 | +€2,852 | +40.0% |
| Other amounts receivable | 41 | €20,623 | €7,744 | -€12,879 | -62.4% |
| Cash at bank and in hand | 54/58 | €16,963 | €70,565 | +€53,602 | +316% |
| Deferred charges and accrued income | 490/1 | €49,467 | €69,636 | +€20,168 | +40.8% |
| Total equity and liabilities | 10/49 | €670,826 | €729,745 | +€58,919 | +8.8% |
| Equity | 10/15 | €179,657 | €261,347 | +€81,690 | +45.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €161,057 | €242,747 | +€81,690 | +50.7% |
| 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 | €159,197 | €240,887 | +€81,690 | +51.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €491,169 | €468,398 | -€22,771 | -4.6% |
| Amounts payable after more than one year | 17 | €382,952 | €330,086 | -€52,866 | -13.8% |
| Financial debts | 170/4 | €382,952 | €330,086 | -€52,866 | -13.8% |
| Amounts payable within one year | 42/48 | €108,019 | €137,109 | +€29,090 | +26.9% |
| Current portion of amounts payable after more than one year | 42 | €59,602 | €52,866 | -€6,736 | -11.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €17,559 | €20,731 | +€3,172 | +18.1% |
| Suppliers | 440/4 | €17,559 | €20,731 | +€3,172 | +18.1% |
| Taxes, remuneration and social security | 45 | €30,857 | €41,365 | +€10,507 | +34.1% |
| Taxes | 450/3 | €2,536 | €3,868 | +€1,332 | +52.5% |
| Remuneration and social security | 454/9 | €28,321 | €37,497 | +€9,175 | +32.4% |
| Other amounts payable | 47/48 | €0 | €22,147 | +€22,147 | |
| Accrued charges and deferred income | 492/3 | €199 | €1,203 | +€1,004 | +504% |
| Remuneration, social security and pensions | 62 | €107,251 | €141,400 | +€34,149 | +31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,367 | €40,755 | -€612 | -1.5% |
| Other operating charges | 640/8 | €46,449 | €4,425 | -€42,024 | -90.5% |
| Gross operating margin | 9900 | €281,306 | €441,170 | +€159,863 | +56.8% |
| Operating profit (loss) | 9901 | €86,239 | €254,589 | +€168,351 | +195% |
| Financial income | 75/76B | €906 | €10 | -€896 | -98.9% |
| Recurring financial income | 75 | €906 | €10 | -€896 | -98.9% |
| Financial charges | 65/66B | €13,117 | €15,503 | +€2,386 | +18.2% |
| Recurring financial charges | 65 | €13,117 | €15,503 | +€2,386 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €74,028 | €239,096 | +€165,069 | +223% |
| Income taxes | 67/77 | €6,276 | €57,406 | +€51,130 | +815% |
| Profit (loss) for the period | 9904 | €67,752 | €181,690 | +€113,938 | +168% |
| Profit (loss) for the period to be appropriated | 9905 | €67,752 | €181,690 | +€113,938 | +168% |
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 3 November 2026 via checked.be.