CW LOGISTICS: what changed
Two fiscal 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 LOGISTICS
Largest movements
- Receivables within one year +€41,577
up €41,577 (+13.9%), from €300,019 to €341,596
of which Other amounts receivable: +€24,242
- Cash +€12,622
new in 2025: €12,622
mainly Net result for the year (+€80,376) and Trade debts (+€7,533)
- Receivables after one year +€12,450
up €12,450 (+6.4%), from €193,294 to €205,744
- Reserves +€80,376
up €80,376 (+16.0%), from €502,534 to €582,910
of which Distributable reserves: +€80,376
- Tax, wage and social debts -€16,697
down €16,697 (-44.1%), from €37,886 to €21,188
- Trade debts +€7,533
up €7,533 (+146.4%), from €5,144 to €12,677
- Gross operating margin +€8,514
up €8,514 (+7.8%), from €108,702 to €117,216
- Financial income +€3,768
new in 2025: €3,768
- Taxes +€3,028
up €3,028 (+8.8%), from €34,504 to €37,532
- Depreciation -€1,338
no longer reported in 2025 (was €1,338)
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 | €569,237 | €637,945 | +€68,708 | +12.1% |
| Fixed assets | 21/28 | €59,479 | €57,000 | -€2,479 | -4.2% |
| Tangible fixed assets | 22/27 | €59,479 | €57,000 | -€2,479 | -4.2% |
| Land and buildings | 22 | €57,000 | €57,000 | = | 0.0% |
| Furniture and vehicles | 24 | €2,479 | - | -€2,479 | |
| Current assets | 29/58 | €509,758 | €580,945 | +€71,187 | +14.0% |
| Amounts receivable after more than one year | 29 | €193,294 | €205,744 | +€12,450 | +6.4% |
| Other amounts receivable | 291 | €193,294 | €205,744 | +€12,450 | +6.4% |
| Amounts receivable within one year | 40/41 | €300,019 | €341,596 | +€41,577 | +13.9% |
| Trade receivables | 40 | €714 | €18,049 | +€17,336 | +2429.1% |
| Other amounts receivable | 41 | €299,305 | €323,547 | +€24,242 | +8.1% |
| Cash at bank and in hand | 54/58 | - | €12,622 | +€12,622 | |
| Deferred charges and accrued income | 490/1 | €16,445 | €20,983 | +€4,538 | +27.6% |
| Total equity and liabilities | 10/49 | €569,237 | €637,945 | +€68,708 | +12.1% |
| Equity | 10/15 | €521,126 | €601,502 | +€80,376 | +15.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €502,534 | €582,910 | +€80,376 | +16.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,838 | €3,838 | = | 0.0% |
| Distributable reserves | 133 | €496,837 | €577,213 | +€80,376 | +16.2% |
| Amounts payable | 17/49 | €48,111 | €36,443 | -€11,668 | -24.3% |
| Amounts payable within one year | 42/48 | €45,533 | €33,865 | -€11,668 | -25.6% |
| Financial debts | 43 | €2,504 | - | -€2,504 | |
| Credit institutions | 430/8 | €2,504 | - | -€2,504 | |
| Trade debts | 44 | €5,144 | €12,677 | +€7,533 | +146.4% |
| Suppliers | 440/4 | €5,144 | €12,677 | +€7,533 | +146.4% |
| Taxes, remuneration and social security | 45 | €37,886 | €21,188 | -€16,697 | -44.1% |
| Taxes | 450/3 | €37,886 | €21,188 | -€16,697 | -44.1% |
| Accrued charges and deferred income | 492/3 | €2,578 | €2,578 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,338 | - | -€1,338 | |
| Other operating charges | 640/8 | €3,054 | €2,162 | -€892 | -29.2% |
| Gross operating margin | 9900 | €108,702 | €117,216 | +€8,514 | +7.8% |
| Operating profit (loss) | 9901 | €104,311 | €115,054 | +€10,743 | +10.3% |
| Financial income | 75/76B | - | €3,768 | +€3,768 | |
| Recurring financial income | 75 | - | €3,768 | +€3,768 | |
| Financial charges | 65/66B | €1,028 | €914 | -€115 | -11.1% |
| Recurring financial charges | 65 | €1,028 | €914 | -€115 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €103,282 | €117,908 | +€14,626 | +14.2% |
| Income taxes | 67/77 | €34,504 | €37,532 | +€3,028 | +8.8% |
| Profit (loss) for the period | 9904 | €68,778 | €80,376 | +€11,598 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €68,778 | €80,376 | +€11,598 | +16.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.