D.W.A.: what changed
Two fiscal 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.A.
Largest movements
- Receivables within one year -€29,117
down €29,117 (-68.7%), from €42,374 to €13,257
of which Trade receivables: -€22,836
- Tangible fixed assets +€12,324
up €12,324 (+1.5%), from €836,495 to €848,820
of which Land and buildings: +€8,581
- Trade debts -€20,822
down €20,822 (-69.3%), from €30,043 to €9,221
- Other operating charges -€13,401
down €13,401 (-38.9%), from €34,483 to €21,082
- Gross operating margin -€10,245
down €10,245 (-18.8%), from €54,512 to €44,268
- Provisions -€3,364
down €3,364, from €0 to -€3,364
- Depreciation +€1,996
up €1,996 (+9.0%), from €22,242 to €24,238
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 | €888,598 | €866,259 | -€22,339 | -2.5% |
| Fixed assets | 21/28 | €836,495 | €848,820 | +€12,324 | +1.5% |
| Tangible fixed assets | 22/27 | €836,495 | €848,820 | +€12,324 | +1.5% |
| Land and buildings | 22 | €695,006 | €703,586 | +€8,581 | +1.2% |
| Plant, machinery and equipment | 23 | €141,490 | €141,643 | +€154 | +0.1% |
| Furniture and vehicles | 24 | - | €3,590 | +€3,590 | |
| Current assets | 29/58 | €52,103 | €17,439 | -€34,663 | -66.5% |
| Amounts receivable within one year | 40/41 | €42,374 | €13,257 | -€29,117 | -68.7% |
| Trade receivables | 40 | €23,667 | €831 | -€22,836 | -96.5% |
| Other amounts receivable | 41 | €18,708 | €12,426 | -€6,281 | -33.6% |
| Cash at bank and in hand | 54/58 | €8,088 | €2,552 | -€5,536 | -68.4% |
| Deferred charges and accrued income | 490/1 | €1,640 | €1,630 | -€10 | -0.6% |
| Total equity and liabilities | 10/49 | €888,598 | €866,259 | -€22,339 | -2.5% |
| Equity | 10/15 | €676,714 | €678,560 | +€1,846 | +0.3% |
| Contributions | 10/11 | €566,000 | €566,000 | = | 0.0% |
| Capital | 10 | €566,000 | €566,000 | = | 0.0% |
| Issued capital | 100 | €566,000 | €566,000 | = | 0.0% |
| Reserves | 13 | €57,800 | €57,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €56,600 | €56,600 | = | 0.0% |
| Legal reserve | 130 | €56,600 | €56,600 | = | 0.0% |
| Distributable reserves | 133 | €1,200 | €1,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,914 | €54,760 | +€1,846 | +3.5% |
| Provisions and deferred taxes | 16 | €158,450 | €155,086 | -€3,364 | -2.1% |
| Provisions for liabilities and charges | 160/5 | €158,450 | €155,086 | -€3,364 | -2.1% |
| Other liabilities and charges | 164/5 | €158,450 | €155,086 | -€3,364 | -2.1% |
| Amounts payable | 17/49 | €53,434 | €32,613 | -€20,822 | -39.0% |
| Amounts payable within one year | 42/48 | €53,434 | €32,613 | -€20,822 | -39.0% |
| Trade debts | 44 | €30,043 | €9,221 | -€20,822 | -69.3% |
| Suppliers | 440/4 | €30,043 | €9,221 | -€20,822 | -69.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €23,391 | €23,391 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,242 | €24,238 | +€1,996 | +9.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | -€3,364 | -€3,364 | |
| Other operating charges | 640/8 | €34,483 | €21,082 | -€13,401 | -38.9% |
| Gross operating margin | 9900 | €54,512 | €44,268 | -€10,245 | -18.8% |
| Operating profit (loss) | 9901 | -€2,213 | €2,312 | +€4,524 | |
| Financial charges | 65/66B | €465 | €465 | = | 0.0% |
| Recurring financial charges | 65 | €465 | €465 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,678 | €1,846 | +€4,524 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€2,678 | €1,846 | +€4,524 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,678 | €1,846 | +€4,524 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.