DEWADAL: 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.
DEWADAL
Largest movements
- Receivables within one year +€1.4m
up €1.4m (+211%), from €667,512 to €2.1m
of which Other amounts receivable: +€1.4m
- Tangible fixed assets +€1.4m
up €1.4m (+17.9%), from €7.6m to €9.0m
of which Land and buildings: +€1.2m
- Debts after one year +€2.2m
up €2.2m (+21.4%), from €10.4m to €12.6m
- Reserves +€348,000
up €348,000 (+7.3%), from €4.8m to €5.1m
- Other debts -€327,325
down €327,325 (-92.3%), from €354,605 to €27,280
- Current portion of long-term debt +€266,180
up €266,180 (+54.3%), from €489,908 to €756,088
- Gross operating margin +€431,398
up €431,398 (+184%), from €235,066 to €666,464
- Financial income +€415,928
up €415,928 (+1,010%), from €41,167 to €457,095
- Financial charges +€92,205
up €92,205 (+106%), from €86,830 to €179,035
- Depreciation +€70,440
up €70,440 (+21.6%), from €326,370 to €396,809
- Other operating charges +€53,191
up €53,191 (+1,324%), from €4,019 to €57,210
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 | €16,878,511 | €19,522,105 | +€2.6m | +15.7% |
| Formation expenses | 20 | €195 | €0 | -€195 | -100% |
| Fixed assets | 21/28 | €15,815,958 | €17,184,069 | +€1.4m | +8.7% |
| Tangible fixed assets | 22/27 | €7,648,358 | €9,016,469 | +€1.4m | +17.9% |
| Land and buildings | 22 | €7,100,766 | €8,286,035 | +€1.2m | +16.7% |
| Plant, machinery and equipment | 23 | €515,868 | €713,625 | +€197,757 | +38.3% |
| Furniture and vehicles | 24 | €31,724 | €16,809 | -€14,915 | -47.0% |
| Financial fixed assets | 28 | €8,167,600 | €8,167,600 | = | 0.0% |
| Current assets | 29/58 | €1,062,357 | €2,338,036 | +€1.3m | +120% |
| Amounts receivable within one year | 40/41 | €667,512 | €2,075,280 | +€1.4m | +211% |
| Trade receivables | 40 | €12,100 | €24,200 | +€12,100 | +100% |
| Other amounts receivable | 41 | €655,412 | €2,051,080 | +€1.4m | +213% |
| Cash at bank and in hand | 54/58 | €387,104 | €261,776 | -€125,329 | -32.4% |
| Deferred charges and accrued income | 490/1 | €7,742 | €980 | -€6,761 | -87.3% |
| Total equity and liabilities | 10/49 | €16,878,511 | €19,522,105 | +€2.6m | +15.7% |
| Equity | 10/15 | €5,134,991 | €5,625,305 | +€490,315 | +9.5% |
| Contributions | 10/11 | €518,600 | €518,600 | = | 0.0% |
| Reserves | 13 | €4,757,000 | €5,105,000 | +€348,000 | +7.3% |
| Distributable reserves | 133 | €4,757,000 | €5,105,000 | +€348,000 | +7.3% |
| Profit (loss) carried forward | 14 | -€140,609 | €1,705 | +€142,315 | |
| Amounts payable | 17/49 | €11,743,520 | €13,896,800 | +€2.2m | +18.3% |
| Amounts payable after more than one year | 17 | €10,390,098 | €12,612,390 | +€2.2m | +21.4% |
| Financial debts | 170/4 | €10,390,098 | €12,612,390 | +€2.2m | +21.4% |
| Amounts payable within one year | 42/48 | €1,353,421 | €1,284,410 | -€69,011 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €489,908 | €756,088 | +€266,180 | +54.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €499,947 | €480,108 | -€19,838 | -4.0% |
| Suppliers | 440/4 | €499,947 | €480,108 | -€19,838 | -4.0% |
| Taxes, remuneration and social security | 45 | €8,961 | €20,933 | +€11,972 | +134% |
| Taxes | 450/3 | €6,260 | €18,199 | +€11,939 | +191% |
| Remuneration and social security | 454/9 | €2,702 | €2,735 | +€33 | +1.2% |
| Other amounts payable | 47/48 | €354,605 | €27,280 | -€327,325 | -92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €326,370 | €396,809 | +€70,440 | +21.6% |
| Other operating charges | 640/8 | €4,019 | €57,210 | +€53,191 | +1,324% |
| Gross operating margin | 9900 | €235,066 | €666,464 | +€431,398 | +184% |
| Operating profit (loss) | 9901 | -€95,323 | €212,445 | +€307,767 | |
| Financial income | 75/76B | €41,167 | €457,095 | +€415,928 | +1,010% |
| Recurring financial income | 75 | €41,167 | €457,095 | +€415,928 | +1,010% |
| Financial charges | 65/66B | €86,830 | €179,035 | +€92,205 | +106% |
| Recurring financial charges | 65 | €86,830 | €179,035 | +€92,205 | +106% |
| Profit (loss) for the period before taxes | 9903 | -€140,986 | €490,504 | +€631,490 | |
| Income taxes | 67/77 | €209 | €189 | -€19 | -9.3% |
| Profit (loss) for the period | 9904 | -€141,195 | €490,315 | +€631,510 | |
| Profit (loss) for the period to be appropriated | 9905 | -€141,195 | €490,315 | +€631,510 |
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 18 October 2026 via checked.be.