CWT Properties (Antwerp): 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 Properties (Antwerp)
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€825,163
2024 · €1.9m-€1.1m
Equity
€11.2m
2024 · €13.3m-€2.1m
Cash
€203,924
2024 · €789,715-€585,791
Balance sheet total
€18.0m
2024 · €20.5m-€2.5m
Largest movements
Assets
- Receivables within one year -€1.9m
down €1.9m (-59.6%), from €3.1m to €1.3m
of which Trade receivables: -€1.8m
- Cash -€585,791
down €585,791 (-74.2%), from €789,715 to €203,924
mainly Contributions, distributions and other (-€2.9m) and Trade debts (-€2.7m)
- Deferred charges and accrued income -€283,825
down €283,825 (-49.2%), from €577,437 to €293,611
- Tangible fixed assets +€205,569
up €205,569 (+1.3%), from €16.0m to €16.2m
of which Land and buildings: +€3.8m
Equity and liabilities
- Trade debts -€2.7m
down €2.7m (-94.4%), from €2.8m to €157,881
- Contributions -€2.7m
down €2.7m (-21.8%), from €12.2m to €9.5m
of which Contributions outside capital: -€1.5m
- Debts after one year +€2.6m
up €2.6m (+90.6%), from €2.9m to €5.5m
- Profit (loss) carried forward +€768,918
up €768,918 (+848%), from €90,642 to €859,560
- Tax, wage and social debts -€229,467
down €229,467 (-75.7%), from €303,205 to €73,738
of which Remuneration and social security: -€247,615
Income statement
- Turnover -€13.9m
down €13.9m (-80.2%), from €17.4m to €3.4m
- Services and other goods -€8.1m
down €8.1m (-91.6%), from €8.9m to €748,267
- Goods and materials -€5.2m
no longer reported in 2025 (was €5.2m)
- Other operating income -€1.8m
down €1.8m (-99.2%), from €1.8m to €13,978
- Staff costs -€1.3m
down €1.3m (-91.5%), from €1.4m to €121,448
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.
Result 2024
€1.9m
Turnover
-€13.9m
Other operating income
-€1.8m
Goods and materials
+€5.2m
Services and other goods
+€8.1m
Staff costs
+€1.3m
Depreciation
+€258,120
Write-downs
+€6,349
Other operating charges
-€7,897
Other operating items
-€29,873
Financial income
-€3,297
Financial charges
-€206,717
Taxes
-€80,962
Result 2025
€825,163
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€777,291
Investment
-€1.1m
Financing
-€296,556
Cash 2024
€789,715
From operations (derived)
+€777,291
Net result for the year
+€825,163
Depreciation
+€868,954
Receivables within one year
+€1.9m
Deferred charges and accrued income
+€283,825
Trade debts
-€2.7m
Tax, wage and social debts
-€229,467
Other debts
-€9,362
Accrued charges and deferred income
-€143,090
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
-€296,556
Debts after one year
+€2.6m
Contributions, distributions and other
-€2.9m
Cash 2025
€203,924
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,525,675 | €17,998,960 | -€2.5m | -12.3% |
| Fixed assets | 21/28 | €16,044,778 | €16,242,350 | +€197,571 | +1.2% |
| Tangible fixed assets | 22/27 | €16,036,780 | €16,242,350 | +€205,569 | +1.3% |
| Land and buildings | 22 | €12,393,643 | €16,242,350 | +€3.8m | +31.1% |
| Plant, machinery and equipment | 23 | €1,612,309 | - | -€1.6m | |
| Furniture and vehicles | 24 | €185,638 | - | -€185,638 | |
| Leasing and similar rights | 25 | €45,433 | - | -€45,433 | |
| Assets under construction and advance payments | 27 | €1,799,757 | - | -€1.8m | |
| Financial fixed assets | 28 | €7,998 | - | -€7,998 | |
| Other financial fixed assets | 284/8 | €7,998 | - | -€7,998 | |
| Amounts receivable and cash guarantees | 285/8 | €7,998 | - | -€7,998 | |
| Current assets | 29/58 | €4,480,897 | €1,756,610 | -€2.7m | -60.8% |
| Amounts receivable within one year | 40/41 | €3,113,745 | €1,259,074 | -€1.9m | -59.6% |
| Trade receivables | 40 | €2,868,407 | €1,092,439 | -€1.8m | -61.9% |
| Other amounts receivable | 41 | €245,338 | €166,635 | -€78,702 | -32.1% |
| Cash at bank and in hand | 54/58 | €789,715 | €203,924 | -€585,791 | -74.2% |
| Deferred charges and accrued income | 490/1 | €577,437 | €293,611 | -€283,825 | -49.2% |
| Total equity and liabilities | 10/49 | €20,525,675 | €17,998,960 | -€2.5m | -12.3% |
| Equity | 10/15 | €13,288,733 | €11,217,341 | -€2.1m | -15.6% |
| Contributions | 10/11 | €12,180,000 | €9,525,116 | -€2.7m | -21.8% |
| Capital | 10 | €5,093,040 | €3,982,906 | -€1.1m | -21.8% |
| Issued capital | 100 | €5,093,040 | €3,982,906 | -€1.1m | -21.8% |
| Contributions outside capital | 11 | €7,086,960 | €5,542,210 | -€1.5m | -21.8% |
| Share premium | 1100/10 | €7,086,960 | €5,542,210 | -€1.5m | -21.8% |
| Reserves | 13 | €1,018,092 | €832,665 | -€185,427 | -18.2% |
| Non-distributable reserves | 130/1 | €14,771 | €49,078 | +€34,308 | +232% |
| Legal reserve | 130 | €14,771 | €49,078 | +€34,308 | +232% |
| Distributable reserves | 133 | €1,003,321 | €783,586 | -€219,735 | -21.9% |
| Profit (loss) carried forward | 14 | €90,642 | €859,560 | +€768,918 | +848% |
| Amounts payable | 17/49 | €7,236,941 | €6,781,619 | -€455,322 | -6.3% |
| Amounts payable after more than one year | 17 | €2,869,476 | €5,469,476 | +€2.6m | +90.6% |
| Financial debts | 170/4 | €2,869,476 | €5,469,476 | +€2.6m | +90.6% |
| Other loans | 174 | €2,869,476 | €5,469,476 | +€2.6m | +90.6% |
| Amounts payable within one year | 42/48 | €4,224,375 | €1,312,143 | -€2.9m | -68.9% |
| Current portion of amounts payable after more than one year | 42 | €1,080,524 | €1,080,524 | = | 0.0% |
| Trade debts | 44 | €2,831,285 | €157,881 | -€2.7m | -94.4% |
| Suppliers | 440/4 | €2,831,285 | €157,881 | -€2.7m | -94.4% |
| Taxes, remuneration and social security | 45 | €303,205 | €73,738 | -€229,467 | -75.7% |
| Taxes | 450/3 | €45,306 | €63,453 | +€18,147 | +40.1% |
| Remuneration and social security | 454/9 | €257,899 | €10,284 | -€247,615 | -96.0% |
| Other amounts payable | 47/48 | €9,362 | - | -€9,362 | |
| Accrued charges and deferred income | 492/3 | €143,090 | - | -€143,090 | |
| Operating income | 70/76A | €19,230,052 | €3,445,978 | -€15.8m | -82.1% |
| Turnover | 70 | €17,350,930 | €3,432,000 | -€13.9m | -80.2% |
| Other operating income | 74 | €1,849,249 | €13,978 | -€1.8m | -99.2% |
| Non-recurring operating income | 76A | €29,873 | - | -€29,873 | |
| Operating charges | 60/66A | €17,132,438 | €2,167,411 | -€15.0m | -87.3% |
| Goods for resale, raw materials and consumables | 60 | €5,248,339 | - | -€5.2m | |
| Purchases | 600/8 | €5,248,339 | - | -€5.2m | |
| Services and other goods | 61 | €8,897,702 | €748,267 | -€8.1m | -91.6% |
| Remuneration, social security and pensions | 62 | €1,432,130 | €121,448 | -€1.3m | -91.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,127,074 | €868,954 | -€258,120 | -22.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,349 | - | -€6,349 | |
| Other operating charges | 640/8 | €420,845 | €428,742 | +€7,897 | +1.9% |
| Operating profit (loss) | 9901 | €2,097,614 | €1,278,567 | -€819,047 | -39.0% |
| Financial income | 75/76B | €3,297 | - | -€3,297 | |
| Recurring financial income | 75 | €3,297 | - | -€3,297 | |
| Other financial income | 752/9 | €3,297 | - | -€3,297 | |
| Financial charges | 65/66B | €65,477 | €272,194 | +€206,717 | +316% |
| Recurring financial charges | 65 | €65,477 | €272,194 | +€206,717 | +316% |
| Debt charges | 650 | €60,147 | €271,436 | +€211,289 | +351% |
| Other financial charges | 652/9 | €5,330 | €758 | -€4,572 | -85.8% |
| Profit (loss) for the period before taxes | 9903 | €2,035,435 | €1,006,373 | -€1.0m | -50.6% |
| Income taxes | 67/77 | €100,248 | €181,210 | +€80,962 | +80.8% |
| Taxes | 670/3 | €100,248 | €181,210 | +€80,962 | +80.8% |
| Profit (loss) for the period | 9904 | €1,935,187 | €825,163 | -€1.1m | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,935,187 | €825,163 | -€1.1m | -57.4% |
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 29 October 2026 via checked.be.