CW GESTION: 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.
What changed
CW GESTION
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€212,597
2024 · €426,341-€213,744
Equity
€1.4m
2024 · €1.2m+€212,597
Cash
€33,175
2024 · €13,602+€19,574
Balance sheet total
€4.1m
2024 · €4.0m+€172,858
Largest movements
Assets
- Financial fixed assets +€130,000
up €130,000 (+3.3%), from €3.9m to €4.0m
Equity and liabilities
- Reserves +€212,597
up €212,597 (+30.0%), from €708,162 to €920,758
of which Distributable reserves: +€212,597
- Debts after one year -€123,929
down €123,929 (-4.9%), from €2.5m to €2.4m
of which Financial debts: -€100,679
- Trade debts +€93,071
up €93,071 (+4,661%), from €1,997 to €95,067
Income statement
- Financial income -€264,868
down €264,868 (-67.1%), from €394,803 to €129,935
- Gross operating margin +€94,719
up €94,719 (+51.7%), from €183,331 to €278,050
- Staff costs +€28,473
up €28,473 (+40.3%), from €70,724 to €99,198
- Financial charges +€12,900
up €12,900 (+102%), from €12,694 to €25,594
- Taxes -€10,177
down €10,177 (-16.3%), from €62,451 to €52,275
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.
Result 2024
€426,341
Gross operating margin
+€94,719
Staff costs
-€28,473
Depreciation
-€4,142
Other operating charges
-€8,256
Financial income
-€264,868
Financial charges
-€12,900
Taxes
+€10,177
Result 2025
€212,597
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€262,457
Investment
-€132,456
Financing
-€110,427
Cash 2024
€13,602
From operations (derived)
+€262,457
Net result for the year
+€212,597
Depreciation
+€8,084
Receivables within one year
-€30,147
Deferred charges and accrued income
+€1,235
Trade debts
+€93,071
Tax, wage and social debts
-€22,221
Smaller working-capital items
-€161
Investment (derived)
-€132,456
Investment in fixed assets (net)
-€132,456
Financing
-€110,427
Debts after one year
-€123,929
Current portion of long-term debt
+€13,502
Cash 2025
€33,175
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,957,178 | €4,130,036 | +€172,858 | +4.4% |
| Fixed assets | 21/28 | €3,926,369 | €4,050,741 | +€124,372 | +3.2% |
| Tangible fixed assets | 22/27 | €37,719 | €32,091 | -€5,628 | -14.9% |
| Plant, machinery and equipment | 23 | €5,314 | €4,656 | -€657 | -12.4% |
| Furniture and vehicles | 24 | €32,406 | €27,435 | -€4,971 | -15.3% |
| Financial fixed assets | 28 | €3,888,650 | €4,018,650 | +€130,000 | +3.3% |
| Current assets | 29/58 | €30,809 | €79,295 | +€48,486 | +157% |
| Amounts receivable within one year | 40/41 | €11,632 | €41,779 | +€30,147 | +259% |
| Trade receivables | 40 | €1,101 | €12,794 | +€11,692 | +1,062% |
| Other amounts receivable | 41 | €10,530 | €28,985 | +€18,455 | +175% |
| Cash at bank and in hand | 54/58 | €13,602 | €33,175 | +€19,574 | +144% |
| Deferred charges and accrued income | 490/1 | €5,575 | €4,341 | -€1,235 | -22.1% |
| Total equity and liabilities | 10/49 | €3,957,178 | €4,130,036 | +€172,858 | +4.4% |
| Equity | 10/15 | €1,192,300 | €1,404,897 | +€212,597 | +17.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €708,162 | €920,758 | +€212,597 | +30.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €708,162 | €920,758 | +€212,597 | +30.0% |
| Profit (loss) carried forward | 14 | €464,138 | €464,138 | = | 0.0% |
| Amounts payable | 17/49 | €2,764,878 | €2,725,140 | -€39,739 | -1.4% |
| Amounts payable after more than one year | 17 | €2,538,651 | €2,414,722 | -€123,929 | -4.9% |
| Financial debts | 170/4 | €628,901 | €528,222 | -€100,679 | -16.0% |
| Other amounts payable | 178/9 | €1,909,750 | €1,886,500 | -€23,250 | -1.2% |
| Amounts payable within one year | 42/48 | €226,227 | €310,404 | +€84,176 | +37.2% |
| Current portion of amounts payable after more than one year | 42 | €97,292 | €110,794 | +€13,502 | +13.9% |
| Financial debts | 43 | €30,000 | €30,000 | = | 0.0% |
| Credit institutions | 430/8 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €1,997 | €95,067 | +€93,071 | +4,661% |
| Suppliers | 440/4 | €1,997 | €95,067 | +€93,071 | +4,661% |
| Taxes, remuneration and social security | 45 | €66,939 | €44,718 | -€22,221 | -33.2% |
| Taxes | 450/3 | €47,384 | €31,348 | -€16,036 | -33.8% |
| Remuneration and social security | 454/9 | €19,555 | €13,370 | -€6,185 | -31.6% |
| Other amounts payable | 47/48 | €30,000 | €29,825 | -€175 | -0.6% |
| Accrued charges and deferred income | 492/3 | - | €14 | +€14 | |
| Remuneration, social security and pensions | 62 | €70,724 | €99,198 | +€28,473 | +40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,942 | €8,084 | +€4,142 | +105% |
| Other operating charges | 640/8 | €1,981 | €10,238 | +€8,256 | +417% |
| Gross operating margin | 9900 | €183,331 | €278,050 | +€94,719 | +51.7% |
| Operating profit (loss) | 9901 | €106,683 | €160,530 | +€53,847 | +50.5% |
| Financial income | 75/76B | €394,803 | €129,935 | -€264,868 | -67.1% |
| Recurring financial income | 75 | €394,803 | €129,935 | -€264,868 | -67.1% |
| Financial charges | 65/66B | €12,694 | €25,594 | +€12,900 | +102% |
| Recurring financial charges | 65 | €12,694 | €25,594 | +€12,900 | +102% |
| Profit (loss) for the period before taxes | 9903 | €488,792 | €264,871 | -€223,921 | -45.8% |
| Income taxes | 67/77 | €62,451 | €52,275 | -€10,177 | -16.3% |
| Profit (loss) for the period | 9904 | €426,341 | €212,597 | -€213,744 | -50.1% |
| Profit (loss) for the period to be appropriated | 9905 | €426,341 | €212,597 | -€213,744 | -50.1% |
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 31 October 2026 via checked.be.