DEWAEL & PARTNERS: 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.
DEWAEL & PARTNERS
Largest movements
- Receivables within one year +€26,748
up €26,748 (+47.7%), from €56,039 to €82,787
of which Trade receivables: +€30,345
- Cash -€19,241
down €19,241 (-26.8%), from €71,729 to €52,488
mainly Receivables within one year (-€26,748) and Other debts (-€12,017)
- Tangible fixed assets -€4,215
down €4,215 (-33.0%), from €12,769 to €8,554
of which Plant, machinery and equipment: -€4,215
- Profit (loss) carried forward +€25,621
up €25,621 (+55.7%), from €46,007 to €71,628
- Other debts -€12,017
down €12,017 (-20.4%), from €58,823 to €46,806
- Debts after one year -€7,360
no longer reported in 2025 (was €7,360)
- Gross operating margin +€15,092
up €15,092 (+12.1%), from €124,898 to €139,990
- Staff costs +€11,684
up €11,684 (+13.0%), from €89,582 to €101,265
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 | €216,826 | €220,118 | +€3,292 | +1.5% |
| Fixed assets | 21/28 | €74,058 | €69,843 | -€4,215 | -5.7% |
| Tangible fixed assets | 22/27 | €12,769 | €8,554 | -€4,215 | -33.0% |
| Plant, machinery and equipment | 23 | €10,649 | €6,434 | -€4,215 | -39.6% |
| Other tangible fixed assets | 26 | €2,120 | €2,120 | = | 0.0% |
| Financial fixed assets | 28 | €61,289 | €61,289 | = | 0.0% |
| Current assets | 29/58 | €142,767 | €150,275 | +€7,507 | +5.3% |
| Stocks and contracts in progress | 3 | €15,000 | €15,000 | = | 0.0% |
| Contracts in progress | 37 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €56,039 | €82,787 | +€26,748 | +47.7% |
| Trade receivables | 40 | €48,155 | €78,501 | +€30,345 | +63.0% |
| Other amounts receivable | 41 | €7,883 | €4,286 | -€3,597 | -45.6% |
| Cash at bank and in hand | 54/58 | €71,729 | €52,488 | -€19,241 | -26.8% |
| Total equity and liabilities | 10/49 | €216,826 | €220,118 | +€3,292 | +1.5% |
| Equity | 10/15 | €67,007 | €92,628 | +€25,621 | +38.2% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,007 | €71,628 | +€25,621 | +55.7% |
| Amounts payable | 17/49 | €149,819 | €127,490 | -€22,329 | -14.9% |
| Amounts payable after more than one year | 17 | €7,360 | - | -€7,360 | |
| Financial debts | 170/4 | €7,360 | - | -€7,360 | |
| Amounts payable within one year | 42/48 | €142,459 | €127,490 | -€14,970 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €31,214 | €29,242 | -€1,972 | -6.3% |
| Trade debts | 44 | €23,733 | €21,785 | -€1,947 | -8.2% |
| Suppliers | 440/4 | €23,733 | €21,785 | -€1,947 | -8.2% |
| Taxes, remuneration and social security | 45 | €28,689 | €29,656 | +€968 | +3.4% |
| Taxes | 450/3 | €3,755 | €3,771 | +€16 | +0.4% |
| Remuneration and social security | 454/9 | €24,934 | €25,885 | +€951 | +3.8% |
| Other amounts payable | 47/48 | €58,823 | €46,806 | -€12,017 | -20.4% |
| Remuneration, social security and pensions | 62 | €89,582 | €101,265 | +€11,684 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,017 | €4,215 | +€1,198 | +39.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €124,898 | €139,990 | +€15,092 | +12.1% |
| Operating profit (loss) | 9901 | €31,911 | €34,109 | +€2,198 | +6.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,059 | €1,100 | +€41 | +3.9% |
| Recurring financial charges | 65 | €1,059 | €1,100 | +€41 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €30,852 | €33,009 | +€2,157 | +7.0% |
| Income taxes | 67/77 | €8,284 | €7,388 | -€896 | -10.8% |
| Profit (loss) for the period | 9904 | €22,568 | €25,621 | +€3,053 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,568 | €25,621 | +€3,053 | +13.5% |
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 29 October 2026 via checked.be.