CW MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash +€9,357
up €9,357 (+141%), from €6,650 to €16,007
mainly Net result for the year (+€13,790) and Depreciation (+€6,868)
- Tangible fixed assets -€6,868
down €6,868 (-4.7%), from €147,369 to €140,501
of which Land and buildings: -€6,454
- Profit (loss) carried forward +€13,790
up €13,790 (+30.0%), from -€45,952 to -€32,162
- Debts after one year -€11,725
down €11,725 (-9.8%), from €119,125 to €107,400
- Gross operating margin +€19,857
up €19,857 (+516%), from €3,845 to €23,702
- Other operating charges -€391
down €391 (-23.6%), from €1,654 to €1,263
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €155,124 | €157,067 | +€1,943 | +1.3% |
| Fixed assets | 21/28 | €147,369 | €140,501 | -€6,868 | -4.7% |
| Tangible fixed assets | 22/27 | €147,369 | €140,501 | -€6,868 | -4.7% |
| Land and buildings | 22 | €146,371 | €139,917 | -€6,454 | -4.4% |
| Furniture and vehicles | 24 | €998 | €583 | -€414 | -41.5% |
| Current assets | 29/58 | €7,755 | €16,567 | +€8,812 | +114% |
| Amounts receivable within one year | 40/41 | €1,105 | €559 | -€546 | -49.4% |
| Trade receivables | 40 | €130 | €51 | -€80 | -61.0% |
| Other amounts receivable | 41 | €974 | €508 | -€466 | -47.8% |
| Cash at bank and in hand | 54/58 | €6,650 | €16,007 | +€9,357 | +141% |
| Total equity and liabilities | 10/49 | €155,124 | €157,067 | +€1,943 | +1.3% |
| Equity | 10/15 | -€33,552 | -€19,762 | +€13,790 | +41.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,952 | -€32,162 | +€13,790 | +30.0% |
| Amounts payable | 17/49 | €188,676 | €176,829 | -€11,846 | -6.3% |
| Amounts payable after more than one year | 17 | €119,125 | €107,400 | -€11,725 | -9.8% |
| Financial debts | 170/4 | €119,125 | €107,400 | -€11,725 | -9.8% |
| Amounts payable within one year | 42/48 | €64,600 | €63,258 | -€1,343 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €12,154 | €12,311 | +€157 | +1.3% |
| Trade debts | 44 | €1,210 | €0 | -€1,210 | -100% |
| Suppliers | 440/4 | €1,210 | €0 | -€1,210 | -100% |
| Taxes, remuneration and social security | 45 | €430 | €627 | +€197 | +45.7% |
| Taxes | 450/3 | €430 | €627 | +€197 | +45.7% |
| Other amounts payable | 47/48 | €50,806 | €50,320 | -€487 | -1.0% |
| Accrued charges and deferred income | 492/3 | €4,950 | €6,171 | +€1,221 | +24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,840 | €6,868 | +€28 | +0.4% |
| Other operating charges | 640/8 | €1,654 | €1,263 | -€391 | -23.6% |
| Gross operating margin | 9900 | €3,845 | €23,702 | +€19,857 | +516% |
| Operating profit (loss) | 9901 | -€4,649 | €15,571 | +€20,220 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,821 | €1,781 | -€40 | -2.2% |
| Recurring financial charges | 65 | €1,821 | €1,781 | -€40 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,471 | €13,790 | +€20,260 | |
| Profit (loss) for the period | 9904 | -€6,471 | €13,790 | +€20,260 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,471 | €13,790 | +€20,260 |
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 21 October 2026 via checked.be.