D.W.BO: 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.BO
Largest movements
- Cash -€58,940
down €58,940 (-48.4%), from €121,688 to €62,748
mainly Receivables within one year (-€40,924) and Net result for the year (-€22,172)
- Receivables within one year +€40,924
up €40,924 (+34.3%), from €119,255 to €160,179
of which Other amounts receivable: +€32,255
- Tangible fixed assets -€7,690
down €7,690 (-34.3%), from €22,390 to €14,700
of which Leasing and similar rights: -€4,931
- Reserves -€22,172
down €22,172 (-9.0%), from €247,136 to €224,964
- Debts after one year -€5,047
down €5,047 (-62.9%), from €8,019 to €2,972
- Gross operating margin -€16,426
down €16,426, from €2,760 to -€13,666
- Depreciation -€3,216
down €3,216 (-29.5%), from €10,907 to €7,690
- Taxes -€798
down €798, from €551 to -€247
- Other operating charges -€500
down €500 (-22.5%), from €2,218 to €1,718
- Financial income +€484
up €484 (+36.6%), from €1,321 to €1,804
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €272,089 | €245,341 | -€26,748 | -9.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €22,604 | €14,914 | -€7,690 | -34.0% |
| Tangible fixed assets | 22/27 | €22,390 | €14,700 | -€7,690 | -34.3% |
| Plant, machinery and equipment | 23 | €1,848 | €960 | -€887 | -48.0% |
| Furniture and vehicles | 24 | €5,598 | €4,103 | -€1,495 | -26.7% |
| Leasing and similar rights | 25 | €12,591 | €7,660 | -€4,931 | -39.2% |
| Other tangible fixed assets | 26 | €2,354 | €1,977 | -€377 | -16.0% |
| Financial fixed assets | 28 | €214 | €214 | = | 0.0% |
| Current assets | 29/58 | €249,485 | €230,427 | -€19,057 | -7.6% |
| Stocks and contracts in progress | 3 | €7,500 | €7,500 | = | 0.0% |
| Stocks | 30/36 | €7,500 | €7,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €119,255 | €160,179 | +€40,924 | +34.3% |
| Trade receivables | 40 | €32,449 | €41,118 | +€8,669 | +26.7% |
| Other amounts receivable | 41 | €86,806 | €119,061 | +€32,255 | +37.2% |
| Cash at bank and in hand | 54/58 | €121,688 | €62,748 | -€58,940 | -48.4% |
| Deferred charges and accrued income | 490/1 | €1,041 | - | -€1,041 | |
| Total equity and liabilities | 10/49 | €272,089 | €245,341 | -€26,748 | -9.8% |
| Equity | 10/15 | €257,341 | €235,169 | -€22,172 | -8.6% |
| Contributions | 10/11 | €10,205 | €10,205 | = | 0.0% |
| Reserves | 13 | €247,136 | €224,964 | -€22,172 | -9.0% |
| Distributable reserves | 133 | €247,136 | €224,964 | -€22,172 | -9.0% |
| Amounts payable | 17/49 | €14,748 | €10,172 | -€4,576 | -31.0% |
| Amounts payable after more than one year | 17 | €8,019 | €2,972 | -€5,047 | -62.9% |
| Financial debts | 170/4 | €8,019 | €2,972 | -€5,047 | -62.9% |
| Amounts payable within one year | 42/48 | €6,729 | €7,200 | +€471 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €4,969 | €5,047 | +€79 | +1.6% |
| Trade debts | 44 | €1,760 | €2,152 | +€392 | +22.3% |
| Suppliers | 440/4 | €1,760 | €2,152 | +€392 | +22.3% |
| Non-recurring operating income | 76A | €2,210 | €14,000 | +€11,790 | +534% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,907 | €7,690 | -€3,216 | -29.5% |
| Other operating charges | 640/8 | €2,218 | €1,718 | -€500 | -22.5% |
| Gross operating margin | 9900 | €2,760 | -€13,666 | -€16,426 | |
| Operating profit (loss) | 9901 | -€10,364 | -€23,074 | -€12,710 | -123% |
| Financial income | 75/76B | €1,321 | €1,804 | +€484 | +36.6% |
| Recurring financial income | 75 | €1,321 | €1,804 | +€484 | +36.6% |
| Financial charges | 65/66B | €1,117 | €1,149 | +€32 | +2.8% |
| Recurring financial charges | 65 | €1,117 | €1,149 | +€32 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,160 | -€22,419 | -€12,258 | -121% |
| Income taxes | 67/77 | €551 | -€247 | -€798 | |
| Profit (loss) for the period | 9904 | -€10,712 | -€22,172 | -€11,460 | -107% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,712 | -€22,172 | -€11,460 | -107% |
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 18 October 2026 via checked.be.