De Gendt W & W: what changed
De Gendt W & W
Largest movements
- Tangible fixed assets +€116,140
up €116,140 (+75.7%), from €153,403 to €269,544
of which Furniture and vehicles: +€141,108
- Cash +€40,427
up €40,427 (+43.6%), from €92,812 to €133,239
mainly Debts after one year (+€100,164) and Depreciation (+€63,860)
- Receivables within one year +€9,891
up €9,891 (+18.0%), from €55,036 to €64,928
of which Trade receivables: +€15,944
- Debts after one year +€100,164
up €100,164 (+220%), from €45,571 to €145,734
- Reserves +€40,000
up €40,000 (+64.7%), from €61,860 to €101,860
- Current portion of long-term debt +€30,917
up €30,917 (+100.0%), from €30,919 to €61,836
- Trade debts -€5,905
down €5,905 (-20.1%), from €29,410 to €23,506
- Other debts -€4,943
down €4,943 (-10.2%), from €48,343 to €43,399
- Gross operating margin +€46,204
up €46,204 (+52.0%), from €88,823 to €135,027
- Depreciation +€11,204
up €11,204 (+21.3%), from €52,656 to €63,860
- Taxes +€6,744
up €6,744 (+95.6%), from €7,052 to €13,795
- Financial charges +€1,413
up €1,413 (+22.1%), from €6,404 to €7,817
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €302,084 | €468,450 | +€166,365 | +55.1% |
| Fixed assets | 21/28 | €153,403 | €269,544 | +€116,140 | +75.7% |
| Tangible fixed assets | 22/27 | €153,403 | €269,544 | +€116,140 | +75.7% |
| Plant, machinery and equipment | 23 | €61,355 | €36,388 | -€24,968 | -40.7% |
| Furniture and vehicles | 24 | €92,048 | €233,156 | +€141,108 | +153% |
| Current assets | 29/58 | €148,681 | €198,906 | +€50,225 | +33.8% |
| Amounts receivable within one year | 40/41 | €55,036 | €64,928 | +€9,891 | +18.0% |
| Trade receivables | 40 | €48,984 | €64,928 | +€15,944 | +32.5% |
| Other amounts receivable | 41 | €6,052 | €0 | -€6,052 | -100% |
| Cash at bank and in hand | 54/58 | €92,812 | €133,239 | +€40,427 | +43.6% |
| Deferred charges and accrued income | 490/1 | €832 | €739 | -€94 | -11.3% |
| Total equity and liabilities | 10/49 | €302,084 | €468,450 | +€166,365 | +55.1% |
| Equity | 10/15 | €131,215 | €171,639 | +€40,425 | +30.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €61,860 | €101,860 | +€40,000 | +64.7% |
| Distributable reserves | 133 | €61,860 | €101,860 | +€40,000 | +64.7% |
| Profit (loss) carried forward | 14 | €63,155 | €63,579 | +€425 | +0.7% |
| Amounts payable | 17/49 | €170,870 | €296,811 | +€125,941 | +73.7% |
| Amounts payable after more than one year | 17 | €45,571 | €145,734 | +€100,164 | +220% |
| Financial debts | 170/4 | €45,571 | €145,734 | +€100,164 | +220% |
| Amounts payable within one year | 42/48 | €125,299 | €149,501 | +€24,202 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €30,919 | €61,836 | +€30,917 | +100.0% |
| Trade debts | 44 | €29,410 | €23,506 | -€5,905 | -20.1% |
| Suppliers | 440/4 | €29,410 | €23,506 | -€5,905 | -20.1% |
| Taxes, remuneration and social security | 45 | €16,627 | €20,760 | +€4,133 | +24.9% |
| Taxes | 450/3 | €16,627 | €20,760 | +€4,133 | +24.9% |
| Other amounts payable | 47/48 | €48,343 | €43,399 | -€4,943 | -10.2% |
| Accrued charges and deferred income | 492/3 | - | €1,575 | +€1,575 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,656 | €63,860 | +€11,204 | +21.3% |
| Other operating charges | 640/8 | €7,979 | €9,131 | +€1,152 | +14.4% |
| Gross operating margin | 9900 | €88,823 | €135,027 | +€46,204 | +52.0% |
| Operating profit (loss) | 9901 | €28,188 | €62,036 | +€33,848 | +120% |
| Financial income | 75/76B | €304 | €0 | -€304 | -99.9% |
| Recurring financial income | 75 | €304 | €0 | -€304 | -99.9% |
| Financial charges | 65/66B | €6,404 | €7,817 | +€1,413 | +22.1% |
| Recurring financial charges | 65 | €6,404 | €7,817 | +€1,413 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €22,089 | €54,220 | +€32,131 | +145% |
| Income taxes | 67/77 | €7,052 | €13,795 | +€6,744 | +95.6% |
| Profit (loss) for the period | 9904 | €15,037 | €40,425 | +€25,387 | +169% |
| Profit (loss) for the period to be appropriated | 9905 | €15,037 | €40,425 | +€25,387 | +169% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.