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
- Receivables within one year -€65,731
down €65,731 (-45.0%), from €146,213 to €80,482
- Cash +€6,953
up €6,953 (+3842.0%), from €181 to €7,134
mainly Receivables within one year (+€65,731) and Trade debts (+€29,479)
- Tangible fixed assets -€2,044
down €2,044 (-32.4%), from €6,301 to €4,257
of which Furniture and vehicles: -€2,044
- Other debts -€61,480
down €61,480 (-74.4%), from €82,676 to €21,196
- Trade debts +€29,479
up €29,479 (+33.0%), from €89,221 to €118,700
- Profit (loss) carried forward -€28,504
down €28,504 (-41.2%), from -€69,123 to -€97,627
- Gross operating margin -€69,795
down €69,795, from €45,362 to -€24,433
- Depreciation +€1,409
up €1,409 (+222.0%), from €635 to €2,044
- Other operating charges -€827
down €827 (-42.4%), from €1,948 to €1,121
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 | €158,527 | €97,344 | -€61,184 | -38.6% |
| Fixed assets | 21/28 | €9,301 | €7,257 | -€2,044 | -22.0% |
| Tangible fixed assets | 22/27 | €6,301 | €4,257 | -€2,044 | -32.4% |
| Furniture and vehicles | 24 | €6,301 | €4,257 | -€2,044 | -32.4% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €149,226 | €90,087 | -€59,140 | -39.6% |
| Amounts receivable within one year | 40/41 | €146,213 | €80,482 | -€65,731 | -45.0% |
| Trade receivables | 40 | €146,213 | €80,482 | -€65,731 | -45.0% |
| Cash at bank and in hand | 54/58 | €181 | €7,134 | +€6,953 | +3842.0% |
| Deferred charges and accrued income | 490/1 | €2,833 | €2,471 | -€362 | -12.8% |
| Total equity and liabilities | 10/49 | €158,527 | €97,344 | -€61,184 | -38.6% |
| Equity | 10/15 | -€25,754 | -€54,258 | -€28,504 | -110.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,769 | €24,769 | = | 0.0% |
| Distributable reserves | 133 | €24,769 | €24,769 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,123 | -€97,627 | -€28,504 | -41.2% |
| Amounts payable | 17/49 | €184,282 | €151,602 | -€32,680 | -17.7% |
| Amounts payable within one year | 42/48 | €184,282 | €151,602 | -€32,680 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €89,221 | €118,700 | +€29,479 | +33.0% |
| Suppliers | 440/4 | €89,221 | €118,700 | +€29,479 | +33.0% |
| Taxes, remuneration and social security | 45 | €12,384 | €11,705 | -€679 | -5.5% |
| Taxes | 450/3 | €12,384 | €11,705 | -€679 | -5.5% |
| Other amounts payable | 47/48 | €82,676 | €21,196 | -€61,480 | -74.4% |
| Remuneration, social security and pensions | 62 | €811 | €552 | -€259 | -32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €635 | €2,044 | +€1,409 | +222.0% |
| Other operating charges | 640/8 | €1,948 | €1,121 | -€827 | -42.4% |
| Gross operating margin | 9900 | €45,362 | -€24,433 | -€69,795 | |
| Operating profit (loss) | 9901 | €41,967 | -€28,150 | -€70,117 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.6% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.6% |
| Financial charges | 65/66B | €169 | €44 | -€125 | -74.2% |
| Recurring financial charges | 65 | €169 | €44 | -€125 | -74.2% |
| Profit (loss) for the period before taxes | 9903 | €41,799 | -€28,194 | -€69,993 | |
| Income taxes | 67/77 | €303 | €310 | +€7 | +2.4% |
| Profit (loss) for the period | 9904 | €41,496 | -€28,504 | -€70,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,496 | -€28,504 | -€70,000 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.