CWT International: 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.
What changed
CWT International
NACE 79.110, Travel agency activities
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€6.4m
2023 · -€3.6m-€2.8m
Equity
-€45.0m
2023 · -€38.8m-€6.2m
Cash
€2.4m
2023 · €2.9m-€519,973
Balance sheet total
€8.2m
2023 · €9.5m-€1.2m
Largest movements
Assets
- Receivables within one year -€613,066
down €613,066 (-14.2%), from €4.3m to €3.7m
of which Trade receivables: -€375,506
- Cash -€519,973
down €519,973 (-18.0%), from €2.9m to €2.4m
mainly Net result for the year (-€6.4m) and Trade debts (-€488,725)
- Tangible fixed assets -€244,659
down €244,659 (-49.4%), from €495,017 to €250,359
of which Furniture and vehicles: -€229,729
- Financial fixed assets +€230,184
up €230,184 (+13.9%), from €1.7m to €1.9m
of which Affiliated companies: +€213,663
- Deferred charges and accrued income -€108,107
down €108,107 (-97.0%), from €111,393 to €3,286
Equity and liabilities
- Profit (loss) carried forward -€6.4m
down €6.4m (-13.2%), from -€48.8m to -€55.2m
- Accrued charges and deferred income +€4.3m
up €4.3m (+25.8%), from €16.7m to €21.0m
- Other debts +€981,326
up €981,326 (+5.7%), from €17.3m to €18.3m
- Trade debts -€488,725
down €488,725 (-21.4%), from €2.3m to €1.8m
- Contributions +€200,000
up €200,000 (+2.0%), from €9.9m to €10.1m
of which Capital: +€200,000
Income statement
- Financial charges +€3.4m
up €3.4m (+120%), from €2.8m to €6.2m
of which Financial charges: +€2.9m
- Staff costs -€568,390
down €568,390 (-22.0%), from €2.6m to €2.0m
- Turnover -€528,678
down €528,678 (-16.0%), from €3.3m to €2.8m
- Financial income +€229,830
up €229,830 (+589%), from €39,048 to €268,879
of which Non-recurring financial income: +€244,993
- Other operating charges -€129,621
down €129,621 (-54.8%), from €236,711 to €107,089
From the 2023 result to the 2024 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.
Result 2023
-€3.6m
Turnover
-€528,678
Other operating income
-€20,305
Services and other goods
+€125,635
Staff costs
+€568,390
Depreciation
+€15,559
Write-downs
-€14,511
Provisions
+€29,516
Other operating charges
+€129,621
Other operating items
-€1,156
Financial income
+€229,830
Financial charges
-€3.4m
Taxes
+€25,397
Result 2024
-€6.4m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€773,026
Investment
-€92,315
Financing
+€345,368
Cash 2023
€2.9m
From operations (derived)
-€773,026
Net result for the year
-€6.4m
Depreciation
+€97,301
Receivables within one year
+€613,066
Deferred charges and accrued income
+€108,107
Provisions
+€155,092
Trade debts
-€488,725
Tax, wage and social debts
-€38,545
Advances received
-€82,384
Other debts
+€981,326
Accrued charges and deferred income
+€4.3m
Investment (derived)
-€92,315
Investment in fixed assets (net)
-€80,844
Current investments
-€11,471
Financing
+€345,368
Debts after one year
+€145,368
Contributions, distributions and other
+€200,000
Cash 2024
€2.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,459,201 | €8,213,071 | -€1.2m | -13.2% |
| Fixed assets | 21/28 | €2,149,525 | €2,133,069 | -€16,457 | -0.8% |
| Intangible fixed assets | 21 | €4,168 | €2,186 | -€1,982 | -47.5% |
| Tangible fixed assets | 22/27 | €495,017 | €250,359 | -€244,659 | -49.4% |
| Plant, machinery and equipment | 23 | €50,018 | €35,088 | -€14,930 | -29.8% |
| Furniture and vehicles | 24 | €445,000 | €215,271 | -€229,729 | -51.6% |
| Financial fixed assets | 28 | €1,650,340 | €1,880,524 | +€230,184 | +13.9% |
| Affiliated companies | 280/1 | €1,622,702 | €1,836,365 | +€213,663 | +13.2% |
| Participating interests | 280 | €1,622,702 | €1,836,365 | +€213,663 | +13.2% |
| Other financial fixed assets | 284/8 | €27,638 | €44,159 | +€16,521 | +59.8% |
| Amounts receivable and cash guarantees | 285/8 | €27,638 | €44,159 | +€16,521 | +59.8% |
| Current assets | 29/58 | €7,309,676 | €6,080,002 | -€1.2m | -16.8% |
| Amounts receivable within one year | 40/41 | €4,310,457 | €3,697,391 | -€613,066 | -14.2% |
| Trade receivables | 40 | €3,735,439 | €3,359,933 | -€375,506 | -10.1% |
| Other amounts receivable | 41 | €575,018 | €337,458 | -€237,560 | -41.3% |
| Current investments | 50/53 | - | €11,471 | +€11,471 | |
| Other investments | 51/53 | - | €11,471 | +€11,471 | |
| Cash at bank and in hand | 54/58 | €2,887,827 | €2,367,854 | -€519,973 | -18.0% |
| Deferred charges and accrued income | 490/1 | €111,393 | €3,286 | -€108,107 | -97.0% |
| Total equity and liabilities | 10/49 | €9,459,201 | €8,213,071 | -€1.2m | -13.2% |
| Equity | 10/15 | -€38,824,053 | -€45,048,075 | -€6.2m | -16.0% |
| Contributions | 10/11 | €9,897,609 | €10,097,609 | +€200,000 | +2.0% |
| Capital | 10 | €9,897,563 | €10,097,563 | +€200,000 | +2.0% |
| Issued capital | 100 | €9,897,563 | €10,097,563 | +€200,000 | +2.0% |
| Contributions outside capital | 11 | €46 | €46 | = | 0.0% |
| Share premium | 1100/10 | €46 | €46 | = | 0.0% |
| Reserves | 13 | €60,676 | €60,676 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60,676 | €60,676 | = | 0.0% |
| Legal reserve | 130 | €60,676 | €60,676 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,782,338 | -€55,206,360 | -€6.4m | -13.2% |
| Provisions and deferred taxes | 16 | €5,275,011 | €5,430,104 | +€155,092 | +2.9% |
| Provisions for liabilities and charges | 160/5 | €5,275,011 | €5,430,104 | +€155,092 | +2.9% |
| Pensions and similar obligations | 160 | €352,083 | €296,597 | -€55,485 | -15.8% |
| Taxes | 161 | €495,245 | €383,862 | -€111,383 | -22.5% |
| Other liabilities and charges | 164/5 | €4,427,684 | €4,749,644 | +€321,960 | +7.3% |
| Amounts payable | 17/49 | €43,008,243 | €47,831,042 | +€4.8m | +11.2% |
| Amounts payable after more than one year | 17 | €5,760,410 | €5,905,778 | +€145,368 | +2.5% |
| Financial debts | 170/4 | €5,760,410 | €5,905,778 | +€145,368 | +2.5% |
| Other loans | 174 | €5,760,410 | €5,905,778 | +€145,368 | +2.5% |
| Amounts payable within one year | 42/48 | €20,576,076 | €20,947,748 | +€371,672 | +1.8% |
| Trade debts | 44 | €2,280,716 | €1,791,991 | -€488,725 | -21.4% |
| Suppliers | 440/4 | €2,280,716 | €1,791,991 | -€488,725 | -21.4% |
| Advances received on contracts in progress | 46 | €759,422 | €677,038 | -€82,384 | -10.8% |
| Taxes, remuneration and social security | 45 | €249,391 | €210,846 | -€38,545 | -15.5% |
| Taxes | 450/3 | €98,382 | €67,310 | -€31,071 | -31.6% |
| Remuneration and social security | 454/9 | €151,010 | €143,536 | -€7,474 | -4.9% |
| Other amounts payable | 47/48 | €17,286,546 | €18,267,872 | +€981,326 | +5.7% |
| Accrued charges and deferred income | 492/3 | €16,671,758 | €20,977,516 | +€4.3m | +25.8% |
| Operating income | 70/76A | €4,267,201 | €3,718,217 | -€548,984 | -12.9% |
| Turnover | 70 | €3,314,112 | €2,785,433 | -€528,678 | -16.0% |
| Other operating income | 74 | €953,089 | €932,784 | -€20,305 | -2.1% |
| Operating charges | 60/66A | €5,006,870 | €4,153,815 | -€853,055 | -17.0% |
| Services and other goods | 61 | €1,982,907 | €1,857,271 | -€125,635 | -6.3% |
| Remuneration, social security and pensions | 62 | €2,583,522 | €2,015,132 | -€568,390 | -22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,860 | €97,301 | -€15,559 | -13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€12,591 | €1,920 | +€14,511 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €103,462 | €73,945 | -€29,516 | -28.5% |
| Other operating charges | 640/8 | €236,711 | €107,089 | -€129,621 | -54.8% |
| Non-recurring operating charges | 66A | - | €1,156 | +€1,156 | |
| Operating profit (loss) | 9901 | -€739,669 | -€435,598 | +€304,071 | +41.1% |
| Financial income | 75/76B | €39,048 | €268,879 | +€229,830 | +589% |
| Recurring financial income | 75 | €39,048 | €23,886 | -€15,163 | -38.8% |
| Income from current assets | 751 | €16,822 | €21,864 | +€5,043 | +30.0% |
| Other financial income | 752/9 | €22,227 | €2,021 | -€20,205 | -90.9% |
| Non-recurring financial income | 76B | - | €244,993 | +€244,993 | |
| Financial charges | 65/66B | €2,839,574 | €6,238,898 | +€3.4m | +120% |
| Recurring financial charges | 65 | €2,813,294 | €5,695,544 | +€2.9m | +102% |
| Debt charges | 650 | €345,059 | €251,590 | -€93,469 | -27.1% |
| Other financial charges | 652/9 | €2,468,235 | €5,443,954 | +€3.0m | +121% |
| Non-recurring financial charges | 66B | €26,281 | €543,354 | +€517,074 | +1,967% |
| Profit (loss) for the period before taxes | 9903 | -€3,540,195 | -€6,405,617 | -€2.9m | -80.9% |
| Income taxes | 67/77 | €43,801 | €18,404 | -€25,397 | -58.0% |
| Taxes | 670/3 | €43,801 | €18,404 | -€25,397 | -58.0% |
| Profit (loss) for the period | 9904 | -€3,583,996 | -€6,424,022 | -€2.8m | -79.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,583,996 | -€6,424,022 | -€2.8m | -79.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.