DARWIND: 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.
DARWIND
Largest movements
- Receivables within one year -€368,905
down €368,905 (-33.9%), from €1.1m to €719,788
of which Trade receivables: -€344,242
- Stocks and contracts +€105,232
new in 2025: €105,232
- Cash -€34,594
down €34,594 (-5.0%), from €698,624 to €664,030
mainly Trade debts (-€500,369) and Stocks and contracts (-€105,232)
- Intangible fixed assets +€26,146
new in 2025: €26,146
- Trade debts -€500,369
down €500,369 (-63.8%), from €784,577 to €284,208
- Reserves +€102,000
up €102,000 (+16.9%), from €603,000 to €705,000
of which Distributable reserves: +€102,000
- Other debts +€79,757
up €79,757, from €0 to €79,757
- Tax, wage and social debts +€60,559
up €60,559 (+24.5%), from €247,247 to €307,806
of which Remuneration and social security: +€112,485
- Staff costs +€374,095
up €374,095 (+21.5%), from €1.7m to €2.1m
- Purchases and services -€235,996
down €235,996 (-6.9%), from €3.4m to €3.2m
- Gross operating margin +€201,690
up €201,690 (+9.5%), from €2.1m to €2.3m
- Turnover -€66,938
down €66,938 (-1.2%), from €5.4m to €5.4m
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 | €1,839,236 | €1,578,017 | -€261,219 | -14.2% |
| Fixed assets | 21/28 | €31,600 | €57,777 | +€26,176 | +82.8% |
| Intangible fixed assets | 21 | - | €26,146 | +€26,146 | |
| Tangible fixed assets | 22/27 | €31,550 | €31,581 | +€30 | +0.1% |
| Furniture and vehicles | 24 | €15,141 | €31,581 | +€16,440 | +108.6% |
| Assets under construction and advance payments | 27 | €16,409 | €0 | -€16,409 | -100.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,807,636 | €1,520,240 | -€287,396 | -15.9% |
| Stocks and contracts in progress | 3 | - | €105,232 | +€105,232 | |
| Contracts in progress | 37 | - | €105,232 | +€105,232 | |
| Amounts receivable within one year | 40/41 | €1,088,693 | €719,788 | -€368,905 | -33.9% |
| Trade receivables | 40 | €1,054,638 | €710,396 | -€344,242 | -32.6% |
| Other amounts receivable | 41 | €34,055 | €9,392 | -€24,663 | -72.4% |
| Cash at bank and in hand | 54/58 | €698,624 | €664,030 | -€34,594 | -5.0% |
| Deferred charges and accrued income | 490/1 | €20,318 | €31,190 | +€10,872 | +53.5% |
| Total equity and liabilities | 10/49 | €1,839,236 | €1,578,017 | -€261,219 | -14.2% |
| Equity | 10/15 | €803,173 | €905,697 | +€102,524 | +12.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €603,000 | €705,000 | +€102,000 | +16.9% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €583,000 | €685,000 | +€102,000 | +17.5% |
| Profit (loss) carried forward | 14 | €173 | €697 | +€524 | +303.6% |
| Amounts payable | 17/49 | €1,036,063 | €672,320 | -€363,744 | -35.1% |
| Amounts payable within one year | 42/48 | €1,032,503 | €672,320 | -€360,184 | -34.9% |
| Financial debts | 43 | €679 | €549 | -€130 | -19.2% |
| Credit institutions | 430/8 | €679 | €549 | -€130 | -19.2% |
| Trade debts | 44 | €784,577 | €284,208 | -€500,369 | -63.8% |
| Suppliers | 440/4 | €784,577 | €284,208 | -€500,369 | -63.8% |
| Taxes, remuneration and social security | 45 | €247,247 | €307,806 | +€60,559 | +24.5% |
| Taxes | 450/3 | €91,077 | €39,150 | -€51,927 | -57.0% |
| Remuneration and social security | 454/9 | €156,171 | €268,656 | +€112,485 | +72.0% |
| Other amounts payable | 47/48 | €0 | €79,757 | +€79,757 | |
| Accrued charges and deferred income | 492/3 | €3,560 | €0 | -€3,560 | -100.0% |
| Turnover | 70 | €5,442,026 | €5,375,088 | -€66,938 | -1.2% |
| Non-recurring operating income | 76A | - | €397 | +€397 | |
| Goods, raw materials, services and sundry goods | 60/61 | €3,411,907 | €3,175,911 | -€235,996 | -6.9% |
| Remuneration, social security and pensions | 62 | €1,738,356 | €2,112,451 | +€374,095 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,521 | €21,315 | +€8,794 | +70.2% |
| Other operating charges | 640/8 | €1,035 | €1,078 | +€43 | +4.2% |
| Non-recurring operating charges | 66A | - | €6,616 | +€6,616 | |
| Gross operating margin | 9900 | €2,132,023 | €2,333,713 | +€201,690 | +9.5% |
| Operating profit (loss) | 9901 | €380,111 | €192,254 | -€187,857 | -49.4% |
| Financial income | 75/76B | €0 | €111 | +€111 | |
| Recurring financial income | 75 | €0 | €111 | +€111 | |
| Financial charges | 65/66B | €23,132 | €25,387 | +€2,255 | +9.7% |
| Recurring financial charges | 65 | €23,132 | €25,387 | +€2,255 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €356,979 | €166,978 | -€190,001 | -53.2% |
| Income taxes | 67/77 | €111,625 | €64,454 | -€47,171 | -42.3% |
| Profit (loss) for the period | 9904 | €245,354 | €102,524 | -€142,830 | -58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €245,354 | €102,524 | -€142,830 | -58.2% |
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 30 September 2026 via checked.be.