CWC: 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.
CWC
Largest movements
- Stocks and contracts +€58,906
up €58,906 (+43.5%), from €135,496 to €194,402
- Receivables within one year +€28,746
up €28,746 (+16.6%), from €173,368 to €202,114
of which Trade receivables: +€31,700
- Cash -€11,699
down €11,699 (-40.7%), from €28,726 to €17,027
mainly Stocks and contracts (-€58,906) and Receivables within one year (-€28,746)
- Deferred charges and accrued income -€7,340
no longer reported in 2025 (was €7,340)
- Tangible fixed assets -€6,346
down €6,346 (-17.0%), from €37,309 to €30,962
of which Leasing and similar rights: -€5,871
- Trade debts +€43,564
up €43,564 (+308.9%), from €14,102 to €57,666
- Other debts +€24,665
up €24,665 (+79.7%), from €30,951 to €55,615
- Current portion of long-term debt -€19,998
down €19,998 (-19.5%), from €102,673 to €82,675
- Tax, wage and social debts +€10,349
up €10,349 (+46.1%), from €22,427 to €32,776
of which Taxes: +€10,032
- Reserves +€9,558
up €9,558 (+4.7%), from €202,735 to €212,293
- Gross operating margin +€7,623
up €7,623 (+12.9%), from €58,914 to €66,537
- Financial charges +€3,681
up €3,681 (+77.1%), from €4,777 to €8,457
- Depreciation +€2,194
up €2,194 (+19.7%), from €11,121 to €13,315
- Other operating charges +€1,892
up €1,892 (+246.6%), from €767 to €2,659
- Financial income -€960
down €960 (-27.4%), from €3,499 to €2,539
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 | €385,438 | €447,705 | +€62,267 | +16.2% |
| Fixed assets | 21/28 | €40,509 | €34,162 | -€6,346 | -15.7% |
| Tangible fixed assets | 22/27 | €37,309 | €30,962 | -€6,346 | -17.0% |
| Land and buildings | 22 | €14,001 | €12,181 | -€1,819 | -13.0% |
| Plant, machinery and equipment | 23 | €587 | €282 | -€305 | -51.9% |
| Furniture and vehicles | 24 | €5,108 | €6,757 | +€1,649 | +32.3% |
| Leasing and similar rights | 25 | €17,613 | €11,742 | -€5,871 | -33.3% |
| Financial fixed assets | 28 | €3,200 | €3,200 | = | 0.0% |
| Current assets | 29/58 | €344,930 | €413,543 | +€68,613 | +19.9% |
| Stocks and contracts in progress | 3 | €135,496 | €194,402 | +€58,906 | +43.5% |
| Stocks | 30/36 | €135,496 | €194,402 | +€58,906 | +43.5% |
| Amounts receivable within one year | 40/41 | €173,368 | €202,114 | +€28,746 | +16.6% |
| Trade receivables | 40 | €160,414 | €192,114 | +€31,700 | +19.8% |
| Other amounts receivable | 41 | €12,954 | €10,000 | -€2,954 | -22.8% |
| Cash at bank and in hand | 54/58 | €28,726 | €17,027 | -€11,699 | -40.7% |
| Deferred charges and accrued income | 490/1 | €7,340 | - | -€7,340 | |
| Total equity and liabilities | 10/49 | €385,438 | €447,705 | +€62,267 | +16.2% |
| Equity | 10/15 | €202,735 | €212,293 | +€9,558 | +4.7% |
| Reserves | 13 | €202,735 | €212,293 | +€9,558 | +4.7% |
| Distributable reserves | 133 | €202,735 | €212,293 | +€9,558 | +4.7% |
| Amounts payable | 17/49 | €182,703 | €235,412 | +€52,709 | +28.8% |
| Amounts payable after more than one year | 17 | €12,550 | €6,679 | -€5,871 | -46.8% |
| Financial debts | 170/4 | €12,550 | €6,679 | -€5,871 | -46.8% |
| Amounts payable within one year | 42/48 | €170,153 | €228,733 | +€58,580 | +34.4% |
| Current portion of amounts payable after more than one year | 42 | €102,673 | €82,675 | -€19,998 | -19.5% |
| Trade debts | 44 | €14,102 | €57,666 | +€43,564 | +308.9% |
| Suppliers | 440/4 | €14,102 | €57,666 | +€43,564 | +308.9% |
| Taxes, remuneration and social security | 45 | €22,427 | €32,776 | +€10,349 | +46.1% |
| Taxes | 450/3 | €19,616 | €29,648 | +€10,032 | +51.1% |
| Remuneration and social security | 454/9 | €2,810 | €3,128 | +€318 | +11.3% |
| Other amounts payable | 47/48 | €30,951 | €55,615 | +€24,665 | +79.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,121 | €13,315 | +€2,194 | +19.7% |
| Other operating charges | 640/8 | €767 | €2,659 | +€1,892 | +246.6% |
| Gross operating margin | 9900 | €58,914 | €66,537 | +€7,623 | +12.9% |
| Operating profit (loss) | 9901 | €47,026 | €50,563 | +€3,537 | +7.5% |
| Financial income | 75/76B | €3,499 | €2,539 | -€960 | -27.4% |
| Recurring financial income | 75 | €3,499 | €2,539 | -€960 | -27.4% |
| Financial charges | 65/66B | €4,777 | €8,457 | +€3,681 | +77.1% |
| Recurring financial charges | 65 | €4,777 | €8,457 | +€3,681 | +77.1% |
| Profit (loss) for the period before taxes | 9903 | €45,748 | €44,645 | -€1,103 | -2.4% |
| Income taxes | 67/77 | €9,269 | €10,087 | +€818 | +8.8% |
| Profit (loss) for the period | 9904 | €36,479 | €34,558 | -€1,922 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,479 | €34,558 | -€1,922 | -5.3% |
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 11 October 2026 via checked.be.