D&W Shops: 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 Shops
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-90.2%), from €1.3m to €124,175
of which Trade receivables: -€736,991
- Tangible fixed assets +€1.1m
up €1.1m (+17.9%), from €5.9m to €6.9m
- Debts after one year -€222,907
down €222,907 (-4.6%), from €4.8m to €4.6m
- Reserves +€140,000
up €140,000 (+280%), from €50,000 to €190,000
of which Distributable reserves: +€115,000
- Gross operating margin +€99,721
up €99,721 (+17.4%), from €573,690 to €673,410
- Depreciation +€91,620
up €91,620 (+49.8%), from €183,923 to €275,543
- Financial charges -€83,642
down €83,642 (-29.5%), from €283,934 to €200,293
- Taxes +€27,738
up €27,738 (+138%), from €20,064 to €47,802
- Other operating charges +€7,724
up €7,724 (+379%), from €2,037 to €9,761
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 | €7,387,452 | €7,297,743 | -€89,709 | -1.2% |
| Fixed assets | 21/28 | €5,899,162 | €6,954,395 | +€1.1m | +17.9% |
| Tangible fixed assets | 22/27 | €5,884,092 | €6,939,324 | +€1.1m | +17.9% |
| Land and buildings | 22 | €5,884,092 | €6,939,324 | +€1.1m | +17.9% |
| Financial fixed assets | 28 | €15,071 | €15,071 | = | 0.0% |
| Current assets | 29/58 | €1,488,290 | €343,348 | -€1.1m | -76.9% |
| Amounts receivable within one year | 40/41 | €1,265,507 | €124,175 | -€1.1m | -90.2% |
| Trade receivables | 40 | €779,438 | €42,448 | -€736,991 | -94.6% |
| Other amounts receivable | 41 | €486,068 | €81,727 | -€404,341 | -83.2% |
| Cash at bank and in hand | 54/58 | €222,783 | €219,173 | -€3,610 | -1.6% |
| Total equity and liabilities | 10/49 | €7,387,452 | €7,297,743 | -€89,709 | -1.2% |
| Equity | 10/15 | €1,968,384 | €2,110,366 | +€141,982 | +7.2% |
| Contributions | 10/11 | €1,916,000 | €1,916,000 | = | 0.0% |
| Capital | 10 | €1,916,000 | €1,916,000 | = | 0.0% |
| Issued capital | 100 | €1,916,000 | €1,916,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €190,000 | +€140,000 | +280% |
| Non-distributable reserves | 130/1 | €25,000 | €50,000 | +€25,000 | +100% |
| Legal reserve | 130 | €25,000 | €50,000 | +€25,000 | +100% |
| Distributable reserves | 133 | €25,000 | €140,000 | +€115,000 | +460% |
| Profit (loss) carried forward | 14 | €2,384 | €4,366 | +€1,982 | +83.1% |
| Amounts payable | 17/49 | €5,419,068 | €5,187,376 | -€231,691 | -4.3% |
| Amounts payable after more than one year | 17 | €4,813,208 | €4,590,300 | -€222,907 | -4.6% |
| Financial debts | 170/4 | €4,813,208 | €4,590,300 | -€222,907 | -4.6% |
| Amounts payable within one year | 42/48 | €485,838 | €471,998 | -€13,840 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €214,245 | €222,907 | +€8,662 | +4.0% |
| Trade debts | 44 | €49,523 | €1,485 | -€48,038 | -97.0% |
| Suppliers | 440/4 | €49,523 | €1,485 | -€48,038 | -97.0% |
| Taxes, remuneration and social security | 45 | €23,564 | €26,249 | +€2,685 | +11.4% |
| Taxes | 450/3 | €23,564 | €26,249 | +€2,685 | +11.4% |
| Other amounts payable | 47/48 | €198,506 | €221,357 | +€22,851 | +11.5% |
| Accrued charges and deferred income | 492/3 | €120,022 | €125,079 | +€5,056 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,923 | €275,543 | +€91,620 | +49.8% |
| Other operating charges | 640/8 | €2,037 | €9,761 | +€7,724 | +379% |
| Gross operating margin | 9900 | €573,690 | €673,410 | +€99,721 | +17.4% |
| Operating profit (loss) | 9901 | €387,730 | €388,107 | +€376 | +0.1% |
| Financial income | 75/76B | €4,354 | €1,970 | -€2,384 | -54.8% |
| Recurring financial income | 75 | €4,354 | €1,970 | -€2,384 | -54.8% |
| Financial charges | 65/66B | €283,934 | €200,293 | -€83,642 | -29.5% |
| Recurring financial charges | 65 | €283,934 | €200,293 | -€83,642 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €108,150 | €189,785 | +€81,634 | +75.5% |
| Income taxes | 67/77 | €20,064 | €47,802 | +€27,738 | +138% |
| Profit (loss) for the period | 9904 | €88,086 | €141,982 | +€53,896 | +61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €88,086 | €141,982 | +€53,896 | +61.2% |
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 17 October 2026 via checked.be.