D.W. MANAGEMENT: 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. MANAGEMENT
Largest movements
- Receivables within one year -€7,071
down €7,071 (-58.4%), from €12,100 to €5,029
of which Trade receivables: -€7,327
- Stocks and contracts -€3,816
no longer reported in 2025 (was €3,816)
- Cash -€1,418
down €1,418 (-42.9%), from €3,304 to €1,886
mainly Tax, wage and social debts (-€17,228) and Other debts (-€6,968)
- Tax, wage and social debts -€17,228
down €17,228 (-87.8%), from €19,632 to €2,404
of which Taxes: -€13,328
- Profit (loss) carried forward +€13,062
up €13,062 (+1.9%), from -€677,133 to -€664,071
- Other debts -€6,968
down €6,968 (-49.5%), from €14,076 to €7,108
- Trade debts -€573
down €573 (-38.0%), from €1,510 to €937
- Accrued charges and deferred income -€569
no longer reported in 2025 (was €569)
- Write-downs +€20,000
new in 2025: €20,000
- Gross operating margin -€13,043
down €13,043 (-26.1%), from €49,993 to €36,950
- Financial charges -€12,376
down €12,376 (-98.3%), from €12,587 to €211
- Taxes -€5,232
down €5,232 (-61.5%), from €8,509 to €3,277
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 | €20,701 | €8,424 | -€12,277 | -59.3% |
| Current assets | 29/58 | €20,701 | €8,424 | -€12,277 | -59.3% |
| Stocks and contracts in progress | 3 | €3,816 | - | -€3,816 | |
| Contracts in progress | 37 | €3,816 | - | -€3,816 | |
| Amounts receivable within one year | 40/41 | €12,100 | €5,029 | -€7,071 | -58.4% |
| Trade receivables | 40 | €12,100 | €4,773 | -€7,327 | -60.6% |
| Other amounts receivable | 41 | - | €256 | +€256 | |
| Cash at bank and in hand | 54/58 | €3,304 | €1,886 | -€1,418 | -42.9% |
| Deferred charges and accrued income | 490/1 | €1,481 | €1,509 | +€28 | +1.9% |
| Total equity and liabilities | 10/49 | €20,701 | €8,424 | -€12,277 | -59.3% |
| Equity | 10/15 | -€255,086 | -€242,024 | +€13,062 | +5.1% |
| Contributions | 10/11 | €252,000 | €252,000 | = | 0.0% |
| Reserves | 13 | €170,047 | €170,047 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €8,502 | €8,502 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €8,502 | €8,502 | +€0 | 0.0% |
| Distributable reserves | 133 | €161,545 | €161,545 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€677,133 | -€664,071 | +€13,062 | +1.9% |
| Amounts payable | 17/49 | €275,787 | €250,448 | -€25,339 | -9.2% |
| Amounts payable after more than one year | 17 | €240,000 | €240,000 | = | 0.0% |
| Financial debts | 170/4 | €240,000 | €240,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €35,218 | €10,448 | -€24,770 | -70.3% |
| Trade debts | 44 | €1,510 | €937 | -€573 | -38.0% |
| Suppliers | 440/4 | €1,510 | €937 | -€573 | -38.0% |
| Taxes, remuneration and social security | 45 | €19,632 | €2,404 | -€17,228 | -87.8% |
| Taxes | 450/3 | €15,732 | €2,404 | -€13,328 | -84.7% |
| Remuneration and social security | 454/9 | €3,900 | - | -€3,900 | |
| Other amounts payable | 47/48 | €14,076 | €7,108 | -€6,968 | -49.5% |
| Accrued charges and deferred income | 492/3 | €569 | - | -€569 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €20,000 | +€20,000 | |
| Other operating charges | 640/8 | €387 | €400 | +€13 | +3.3% |
| Gross operating margin | 9900 | €49,993 | €36,950 | -€13,043 | -26.1% |
| Operating profit (loss) | 9901 | €49,606 | €16,550 | -€33,056 | -66.6% |
| Financial charges | 65/66B | €12,587 | €211 | -€12,376 | -98.3% |
| Recurring financial charges | 65 | €12,587 | €211 | -€12,376 | -98.3% |
| Profit (loss) for the period before taxes | 9903 | €37,019 | €16,339 | -€20,680 | -55.9% |
| Income taxes | 67/77 | €8,509 | €3,277 | -€5,232 | -61.5% |
| Profit (loss) for the period | 9904 | €28,510 | €13,062 | -€15,448 | -54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,510 | €13,062 | -€15,448 | -54.2% |
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.