CWI: 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.
CWI
Largest movements
- Cash +€69,239
up €69,239 (+345%), from €20,069 to €89,309
mainly Investment in fixed assets (net) (+€56,878) and Net result for the year (+€22,113)
- Tangible fixed assets -€67,087
down €67,087 (-72.3%), from €92,800 to €25,713
of which Leasing and similar rights: -€57,448
- Receivables within one year -€16,266
down €16,266 (-59.8%), from €27,220 to €10,953
of which Other amounts receivable: -€17,180
- Debts after one year -€24,632
down €24,632 (-48.2%), from €51,081 to €26,449
- Other debts +€4,832
up €4,832 (+19.6%), from €24,679 to €29,511
- Tax, wage and social debts +€4,033
up €4,033 (+69.2%), from €5,829 to €9,861
- Gross operating margin +€15,875
up €15,875 (+47.7%), from €33,316 to €49,191
- Depreciation -€6,801
down €6,801 (-40.0%), from €17,010 to €10,209
- Taxes +€5,248
up €5,248 (+156%), from €3,364 to €8,612
- Financial charges +€3,296
up €3,296 (+105%), from €3,152 to €6,448
- Financial income +€2,394
up €2,394 (+1,478%), from €162 to €2,556
of which Non-recurring financial income: +€2,552
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 | €143,203 | €129,074 | -€14,128 | -9.9% |
| Fixed assets | 21/28 | €92,800 | €25,713 | -€67,087 | -72.3% |
| Tangible fixed assets | 22/27 | €92,800 | €25,713 | -€67,087 | -72.3% |
| Plant, machinery and equipment | 23 | €508 | €354 | -€154 | -30.3% |
| Furniture and vehicles | 24 | €30,363 | €21,426 | -€8,937 | -29.4% |
| Leasing and similar rights | 25 | €57,448 | - | -€57,448 | |
| Other tangible fixed assets | 26 | €4,481 | €3,933 | -€548 | -12.2% |
| Current assets | 29/58 | €50,402 | €103,361 | +€52,959 | +105% |
| Amounts receivable within one year | 40/41 | €27,220 | €10,953 | -€16,266 | -59.8% |
| Trade receivables | 40 | €10,040 | €10,953 | +€913 | +9.1% |
| Other amounts receivable | 41 | €17,180 | - | -€17,180 | |
| Cash at bank and in hand | 54/58 | €20,069 | €89,309 | +€69,239 | +345% |
| Deferred charges and accrued income | 490/1 | €3,113 | €3,100 | -€14 | -0.4% |
| Total equity and liabilities | 10/49 | €143,203 | €129,074 | -€14,128 | -9.9% |
| Equity | 10/15 | €34,818 | €34,818 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,218 | €16,218 | = | 0.0% |
| Distributable reserves | 133 | €16,218 | €16,218 | = | 0.0% |
| Amounts payable | 17/49 | €108,384 | €94,256 | -€14,128 | -13.0% |
| Amounts payable after more than one year | 17 | €51,081 | €26,449 | -€24,632 | -48.2% |
| Financial debts | 170/4 | €51,081 | €26,449 | -€24,632 | -48.2% |
| Amounts payable within one year | 42/48 | €57,124 | €67,463 | +€10,339 | +18.1% |
| Current portion of amounts payable after more than one year | 42 | €23,548 | €24,632 | +€1,084 | +4.6% |
| Trade debts | 44 | €3,068 | €3,459 | +€390 | +12.7% |
| Suppliers | 440/4 | €3,068 | €3,459 | +€390 | +12.7% |
| Taxes, remuneration and social security | 45 | €5,829 | €9,861 | +€4,033 | +69.2% |
| Taxes | 450/3 | €5,829 | €9,861 | +€4,033 | +69.2% |
| Other amounts payable | 47/48 | €24,679 | €29,511 | +€4,832 | +19.6% |
| Accrued charges and deferred income | 492/3 | €180 | €345 | +€165 | +91.9% |
| Non-recurring operating income | 76A | €13,807 | - | -€13,807 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,010 | €10,209 | -€6,801 | -40.0% |
| Other operating charges | 640/8 | €1,387 | €2,987 | +€1,601 | +115% |
| Non-recurring operating charges | 66A | €209 | €1,377 | +€1,168 | +558% |
| Gross operating margin | 9900 | €33,316 | €49,191 | +€15,875 | +47.7% |
| Operating profit (loss) | 9901 | €14,710 | €34,618 | +€19,908 | +135% |
| Financial income | 75/76B | €162 | €2,556 | +€2,394 | +1,478% |
| Recurring financial income | 75 | €162 | €3 | -€159 | -97.9% |
| Non-recurring financial income | 76B | - | €2,552 | +€2,552 | |
| Financial charges | 65/66B | €3,152 | €6,448 | +€3,296 | +105% |
| Recurring financial charges | 65 | €3,152 | €6,448 | +€3,296 | +105% |
| Profit (loss) for the period before taxes | 9903 | €11,720 | €30,725 | +€19,005 | +162% |
| Income taxes | 67/77 | €3,364 | €8,612 | +€5,248 | +156% |
| Profit (loss) for the period | 9904 | €8,356 | €22,113 | +€13,758 | +165% |
| Profit (loss) for the period to be appropriated | 9905 | €8,356 | €22,113 | +€13,758 | +165% |
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 15 October 2026 via checked.be.