CWS Systems: what changed
CWS Systems
Largest movements
- Tangible fixed assets -€169,898
down €169,898 (-100.0%), from €169,947 to €50
of which Land and buildings: -€169,680
- Cash +€11,123
up €11,123 (+29.6%), from €37,631 to €48,754
mainly Investment in fixed assets (net) (+€157,752) and Net result for the year (+€94,336)
- Current investments -€9,916
down €9,916 (-99.1%), from €10,003 to €88
- Receivables within one year -€2,924
down €2,924 (-15.4%), from €18,973 to €16,049
of which Other amounts receivable: -€1,888
- Debts after one year -€165,063
no longer reported in 2025 (was €165,063)
- Current portion of long-term debt -€10,659
no longer reported in 2025 (was €10,659)
- Trade debts +€6,681
up €6,681 (+156%), from €4,281 to €10,962
- Reserves -€4,488
down €4,488 (-8.1%), from €55,555 to €51,067
of which Distributable reserves: -€4,488
- Gross operating margin +€128,442
up €128,442 (+474%), from €27,098 to €155,539
- Taxes +€31,110
up €31,110 (+2,589%), from €1,201 to €32,311
- Financial charges +€8,656
up €8,656 (+124%), from €7,003 to €15,659
- Other operating charges -€2,129
down €2,129 (-64.5%), from €3,301 to €1,172
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €263,090 | €89,601 | -€173,489 | -65.9% |
| Fixed assets | 21/28 | €169,947 | €50 | -€169,898 | -100.0% |
| Tangible fixed assets | 22/27 | €169,947 | €50 | -€169,898 | -100.0% |
| Land and buildings | 22 | €169,680 | - | -€169,680 | |
| Plant, machinery and equipment | 23 | €267 | €50 | -€217 | -81.4% |
| Current assets | 29/58 | €93,142 | €89,551 | -€3,591 | -3.9% |
| Stocks and contracts in progress | 3 | €25,347 | €22,799 | -€2,548 | -10.1% |
| Stocks | 30/36 | €25,347 | €22,799 | -€2,548 | -10.1% |
| Amounts receivable within one year | 40/41 | €18,973 | €16,049 | -€2,924 | -15.4% |
| Trade receivables | 40 | €14,126 | €13,090 | -€1,036 | -7.3% |
| Other amounts receivable | 41 | €4,847 | €2,959 | -€1,888 | -38.9% |
| Current investments | 50/53 | €10,003 | €88 | -€9,916 | -99.1% |
| Cash at bank and in hand | 54/58 | €37,631 | €48,754 | +€11,123 | +29.6% |
| Deferred charges and accrued income | 490/1 | €1,188 | €1,861 | +€673 | +56.7% |
| Total equity and liabilities | 10/49 | €263,090 | €89,601 | -€173,489 | -65.9% |
| Equity | 10/15 | €74,155 | €69,667 | -€4,488 | -6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,555 | €51,067 | -€4,488 | -8.1% |
| Non-distributable reserves | 130/1 | €256 | €256 | = | 0.0% |
| Reserves not available under the articles | 1311 | €256 | €256 | = | 0.0% |
| Distributable reserves | 133 | €55,298 | €50,811 | -€4,488 | -8.1% |
| Amounts payable | 17/49 | €188,935 | €19,933 | -€169,002 | -89.4% |
| Amounts payable after more than one year | 17 | €165,063 | - | -€165,063 | |
| Financial debts | 170/4 | €165,063 | - | -€165,063 | |
| Amounts payable within one year | 42/48 | €23,872 | €19,933 | -€3,938 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €10,659 | - | -€10,659 | |
| Financial debts | 43 | €470 | - | -€470 | |
| Credit institutions | 430/8 | €470 | - | -€470 | |
| Trade debts | 44 | €4,281 | €10,962 | +€6,681 | +156% |
| Suppliers | 440/4 | €4,281 | €10,962 | +€6,681 | +156% |
| Taxes, remuneration and social security | 45 | €3,679 | €4,190 | +€510 | +13.9% |
| Taxes | 450/3 | €3,679 | €4,190 | +€510 | +13.9% |
| Other amounts payable | 47/48 | €4,781 | €4,781 | = | 0.0% |
| Non-recurring operating income | 76A | - | €162,248 | +€162,248 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,146 | €12,146 | +€0 | 0.0% |
| Other operating charges | 640/8 | €3,301 | €1,172 | -€2,129 | -64.5% |
| Non-recurring operating charges | 66A | €1,738 | - | -€1,738 | |
| Gross operating margin | 9900 | €27,098 | €155,539 | +€128,442 | +474% |
| Operating profit (loss) | 9901 | €9,913 | €142,222 | +€132,309 | +1,335% |
| Financial income | 75/76B | €94 | €84 | -€10 | -10.5% |
| Recurring financial income | 75 | €94 | €84 | -€10 | -10.5% |
| Financial charges | 65/66B | €7,003 | €15,659 | +€8,656 | +124% |
| Recurring financial charges | 65 | €7,003 | €15,659 | +€8,656 | +124% |
| Profit (loss) for the period before taxes | 9903 | €3,004 | €126,647 | +€123,643 | +4,115% |
| Income taxes | 67/77 | €1,201 | €32,311 | +€31,110 | +2,589% |
| Profit (loss) for the period | 9904 | €1,803 | €94,336 | +€92,533 | +5,132% |
| Profit (loss) for the period to be appropriated | 9905 | €1,803 | €94,336 | +€92,533 | +5,132% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.