CWS BELGIUM: 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.
CWS BELGIUM
Largest movements
- Cash -€1,334
down €1,334 (-3.1%), from €42,517 to €41,183
mainly Other debts (-€1,867) and Tax, wage and social debts (-€614)
- Receivables within one year +€540
new in 2025: €540
- Profit (loss) carried forward +€24,117
no longer reported in 2025 (was -€24,117)
- Reserves -€23,166
down €23,166 (-50.6%), from €45,814 to €22,648
of which Distributable reserves: -€23,166
- Other debts -€1,867
no longer reported in 2025 (was €1,867)
- Tax, wage and social debts -€614
down €614 (-69.3%), from €886 to €272
- Trade debts +€483
up €483 (+110%), from €440 to €923
- Depreciation -€573
down €573 (-69.3%), from €826 to €254
- Gross operating margin -€443
down €443 (-13.5%), from €3,276 to €2,833
- Staff costs +€400
new in 2025: €400
- Other operating charges +€52
up €52 (+5.0%), from €1,036 to €1,088
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 | €43,490 | €42,443 | -€1,047 | -2.4% |
| Fixed assets | 21/28 | €254 | - | -€254 | |
| Tangible fixed assets | 22/27 | €254 | - | -€254 | |
| Plant, machinery and equipment | 23 | €254 | - | -€254 | |
| Current assets | 29/58 | €43,236 | €42,443 | -€794 | -1.8% |
| Amounts receivable within one year | 40/41 | - | €540 | +€540 | |
| Other amounts receivable | 41 | - | €540 | +€540 | |
| Cash at bank and in hand | 54/58 | €42,517 | €41,183 | -€1,334 | -3.1% |
| Deferred charges and accrued income | 490/1 | €719 | €719 | = | 0.0% |
| Total equity and liabilities | 10/49 | €43,490 | €42,443 | -€1,047 | -2.4% |
| Equity | 10/15 | €40,297 | €41,248 | +€951 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €45,814 | €22,648 | -€23,166 | -50.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €43,954 | €20,788 | -€23,166 | -52.7% |
| Profit (loss) carried forward | 14 | -€24,117 | - | +€24,117 | |
| Amounts payable | 17/49 | €3,193 | €1,195 | -€1,998 | -62.6% |
| Amounts payable within one year | 42/48 | €3,193 | €1,195 | -€1,998 | -62.6% |
| Trade debts | 44 | €440 | €923 | +€483 | +110% |
| Suppliers | 440/4 | €440 | €923 | +€483 | +110% |
| Taxes, remuneration and social security | 45 | €886 | €272 | -€614 | -69.3% |
| Taxes | 450/3 | €886 | €272 | -€614 | -69.3% |
| Other amounts payable | 47/48 | €1,867 | - | -€1,867 | |
| Remuneration, social security and pensions | 62 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €826 | €254 | -€573 | -69.3% |
| Other operating charges | 640/8 | €1,036 | €1,088 | +€52 | +5.0% |
| Gross operating margin | 9900 | €3,276 | €2,833 | -€443 | -13.5% |
| Operating profit (loss) | 9901 | €1,414 | €1,092 | -€322 | -22.7% |
| Financial charges | 65/66B | €35 | €46 | +€11 | +30.7% |
| Recurring financial charges | 65 | €35 | €46 | +€11 | +30.7% |
| Profit (loss) for the period before taxes | 9903 | €1,378 | €1,046 | -€332 | -24.1% |
| Income taxes | 67/77 | €125 | €95 | -€30 | -24.1% |
| Profit (loss) for the period | 9904 | €1,253 | €951 | -€302 | -24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,253 | €951 | -€302 | -24.1% |
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 23 October 2026 via checked.be.