D&W: 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.
D&W
Largest movements
- Cash -€11,666
down €11,666 (-53.2%), from €21,917 to €10,251
mainly Contributions, distributions and other (-€20,000) and Receivables within one year (-€6,154)
- Receivables within one year +€6,154
up €6,154 (+120.8%), from €5,095 to €11,249
- Deferred charges and accrued income -€2,131
down €2,131 (-25.8%), from €8,254 to €6,123
- Tangible fixed assets -€786
down €786 (-49.4%), from €1,592 to €806
of which Furniture and vehicles: -€537
- Reserves -€10,084
down €10,084 (-57.6%), from €17,502 to €7,418
- Trade debts +€4,003
up €4,003 (+810.4%), from €494 to €4,496
- Profit (loss) carried forward -€3,517
down €3,517 (-35.5%), from €9,916 to €6,399
- Other debts +€1,687
up €1,687 (+153.2%), from €1,101 to €2,788
- Tax, wage and social debts -€518
down €518 (-7.6%), from €6,845 to €6,327
of which Taxes: -€472
- Gross operating margin -€4,369
down €4,369 (-29.2%), from €14,958 to €10,588
- Taxes -€757
down €757 (-27.0%), from €2,804 to €2,047
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.
Cash bridge derived
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 | €36,858 | €28,429 | -€8,430 | -22.9% |
| Fixed assets | 21/28 | €1,592 | €806 | -€786 | -49.4% |
| Tangible fixed assets | 22/27 | €1,592 | €806 | -€786 | -49.4% |
| Plant, machinery and equipment | 23 | €716 | €467 | -€249 | -34.8% |
| Furniture and vehicles | 24 | €876 | €340 | -€537 | -61.2% |
| Current assets | 29/58 | €35,266 | €27,622 | -€7,644 | -21.7% |
| Amounts receivable within one year | 40/41 | €5,095 | €11,249 | +€6,154 | +120.8% |
| Trade receivables | 40 | €5,095 | €11,249 | +€6,154 | +120.8% |
| Cash at bank and in hand | 54/58 | €21,917 | €10,251 | -€11,666 | -53.2% |
| Deferred charges and accrued income | 490/1 | €8,254 | €6,123 | -€2,131 | -25.8% |
| Total equity and liabilities | 10/49 | €36,858 | €28,429 | -€8,430 | -22.9% |
| Equity | 10/15 | €28,418 | €14,817 | -€13,601 | -47.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €17,502 | €7,418 | -€10,084 | -57.6% |
| Distributable reserves | 133 | €17,502 | €7,418 | -€10,084 | -57.6% |
| Profit (loss) carried forward | 14 | €9,916 | €6,399 | -€3,517 | -35.5% |
| Amounts payable | 17/49 | €8,440 | €13,611 | +€5,171 | +61.3% |
| Amounts payable within one year | 42/48 | €8,440 | €13,611 | +€5,171 | +61.3% |
| Trade debts | 44 | €494 | €4,496 | +€4,003 | +810.4% |
| Suppliers | 440/4 | €494 | €4,496 | +€4,003 | +810.4% |
| Taxes, remuneration and social security | 45 | €6,845 | €6,327 | -€518 | -7.6% |
| Taxes | 450/3 | €5,299 | €4,827 | -€472 | -8.9% |
| Remuneration and social security | 454/9 | €1,546 | €1,500 | -€46 | -3.0% |
| Other amounts payable | 47/48 | €1,101 | €2,788 | +€1,687 | +153.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €786 | €786 | = | 0.0% |
| Other operating charges | 640/8 | €730 | €745 | +€14 | +2.0% |
| Gross operating margin | 9900 | €14,958 | €10,588 | -€4,369 | -29.2% |
| Operating profit (loss) | 9901 | €13,442 | €9,058 | -€4,384 | -32.6% |
| Financial charges | 65/66B | €721 | €612 | -€110 | -15.2% |
| Recurring financial charges | 65 | €721 | €612 | -€110 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €12,720 | €8,446 | -€4,274 | -33.6% |
| Income taxes | 67/77 | €2,804 | €2,047 | -€757 | -27.0% |
| Profit (loss) for the period | 9904 | €9,916 | €6,399 | -€3,517 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,916 | €6,399 | -€3,517 | -35.5% |
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 12 October 2026 via checked.be.