DEWAELE: 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.
DEWAELE
Largest movements
- Current investments -€1.3m
down €1.3m (-66.7%), from €2.0m to €666,667
- Receivables within one year +€731,966
up €731,966 (+125%), from €587,731 to €1.3m
of which Trade receivables: +€720,711
- Stocks and contracts +€335,133
up €335,133 (+95.4%), from €351,176 to €686,309
- Tangible fixed assets +€326,143
up €326,143 (+13.0%), from €2.5m to €2.8m
of which Furniture and vehicles: +€351,087
- Cash +€197,683
up €197,683 (+14.3%), from €1.4m to €1.6m
mainly Current investments (+€1.3m) and Depreciation (+€491,754)
- Reserves +€467,624
up €467,624 (+9.1%), from €5.2m to €5.6m
of which Distributable reserves: +€468,524
- Tax, wage and social debts -€377,305
down €377,305 (-83.9%), from €449,491 to €72,186
of which Taxes: -€366,874
- Debts after one year +€317,496
up €317,496 (+146%), from €216,932 to €534,428
- Trade debts -€158,226
down €158,226 (-33.4%), from €473,864 to €315,638
- Current portion of long-term debt +€120,000
up €120,000 (+107%), from €112,504 to €232,504
- Gross operating margin -€2.5m
down €2.5m (-66.5%), from €3.8m to €1.3m
- Taxes -€867,551
down €867,551 (-83.5%), from €1.0m to €171,365
- Depreciation +€85,992
up €85,992 (+21.2%), from €405,762 to €491,754
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 | €6,851,837 | €7,109,295 | +€257,458 | +3.8% |
| Fixed assets | 21/28 | €2,508,194 | €2,834,337 | +€326,143 | +13.0% |
| Tangible fixed assets | 22/27 | €2,507,674 | €2,833,817 | +€326,143 | +13.0% |
| Land and buildings | 22 | €1,180,997 | €1,109,884 | -€71,112 | -6.0% |
| Plant, machinery and equipment | 23 | €877,404 | €924,398 | +€46,995 | +5.4% |
| Furniture and vehicles | 24 | €436,120 | €787,207 | +€351,087 | +80.5% |
| Other tangible fixed assets | 26 | €13,153 | €12,327 | -€827 | -6.3% |
| Financial fixed assets | 28 | €520 | €520 | = | 0.0% |
| Current assets | 29/58 | €4,343,643 | €4,274,959 | -€68,685 | -1.6% |
| Stocks and contracts in progress | 3 | €351,176 | €686,309 | +€335,133 | +95.4% |
| Stocks | 30/36 | €351,176 | €686,309 | +€335,133 | +95.4% |
| Amounts receivable within one year | 40/41 | €587,731 | €1,319,697 | +€731,966 | +125% |
| Trade receivables | 40 | €166,269 | €886,979 | +€720,711 | +433% |
| Other amounts receivable | 41 | €421,462 | €432,718 | +€11,255 | +2.7% |
| Current investments | 50/53 | €2,000,000 | €666,667 | -€1.3m | -66.7% |
| Cash at bank and in hand | 54/58 | €1,382,933 | €1,580,616 | +€197,683 | +14.3% |
| Deferred charges and accrued income | 490/1 | €21,803 | €21,670 | -€133 | -0.6% |
| Total equity and liabilities | 10/49 | €6,851,837 | €7,109,295 | +€257,458 | +3.8% |
| Equity | 10/15 | €5,364,742 | €5,832,366 | +€467,624 | +8.7% |
| Contributions | 10/11 | €30,500 | €30,500 | = | 0.0% |
| Capital | 10 | - | €30,500 | +€30,500 | |
| Issued capital | 100 | - | €30,500 | +€30,500 | |
| Reserves | 13 | €5,164,702 | €5,632,326 | +€467,624 | +9.1% |
| Non-distributable reserves | 130/1 | €3,050 | €3,050 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,050 | €3,050 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,773 | €4,873 | -€900 | -15.6% |
| Distributable reserves | 133 | €5,155,880 | €5,624,403 | +€468,524 | +9.1% |
| Profit (loss) carried forward | 14 | €169,540 | €169,540 | = | 0.0% |
| Provisions and deferred taxes | 16 | €1,800 | €1,500 | -€300 | -16.7% |
| Deferred taxes | 168 | €1,800 | €1,500 | -€300 | -16.7% |
| Amounts payable | 17/49 | €1,485,295 | €1,275,429 | -€209,866 | -14.1% |
| Amounts payable after more than one year | 17 | €216,932 | €534,428 | +€317,496 | +146% |
| Financial debts | 170/4 | €216,932 | €534,428 | +€317,496 | +146% |
| Amounts payable within one year | 42/48 | €1,263,461 | €735,680 | -€527,781 | -41.8% |
| Current portion of amounts payable after more than one year | 42 | €112,504 | €232,504 | +€120,000 | +107% |
| Trade debts | 44 | €473,864 | €315,638 | -€158,226 | -33.4% |
| Suppliers | 440/4 | €473,864 | €315,638 | -€158,226 | -33.4% |
| Taxes, remuneration and social security | 45 | €449,491 | €72,186 | -€377,305 | -83.9% |
| Taxes | 450/3 | €420,854 | €53,981 | -€366,874 | -87.2% |
| Remuneration and social security | 454/9 | €28,636 | €18,205 | -€10,431 | -36.4% |
| Other amounts payable | 47/48 | €227,603 | €115,352 | -€112,250 | -49.3% |
| Accrued charges and deferred income | 492/3 | €4,902 | €5,321 | +€419 | +8.6% |
| Non-recurring operating income | 76A | - | €28,500 | +€28,500 | |
| Remuneration, social security and pensions | 62 | €123,297 | €135,382 | +€12,085 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €405,762 | €491,754 | +€85,992 | +21.2% |
| Other operating charges | 640/8 | €6,235 | €33,605 | +€27,370 | +439% |
| Gross operating margin | 9900 | €3,777,779 | €1,263,735 | -€2.5m | -66.5% |
| Operating profit (loss) | 9901 | €3,242,485 | €602,995 | -€2.6m | -81.4% |
| Financial income | 75/76B | €48,296 | €53,892 | +€5,596 | +11.6% |
| Recurring financial income | 75 | €48,296 | €53,892 | +€5,596 | +11.6% |
| Financial charges | 65/66B | €11,239 | €18,198 | +€6,959 | +61.9% |
| Recurring financial charges | 65 | €11,239 | €18,198 | +€6,959 | +61.9% |
| Profit (loss) for the period before taxes | 9903 | €3,279,542 | €638,689 | -€2.6m | -80.5% |
| Transfer from deferred taxes | 780 | €300 | €300 | = | 0.0% |
| Income taxes | 67/77 | €1,038,916 | €171,365 | -€867,551 | -83.5% |
| Profit (loss) for the period | 9904 | €2,240,925 | €467,624 | -€1.8m | -79.1% |
| Transfer from tax-exempt reserves | 789 | €900 | €900 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,241,825 | €468,524 | -€1.8m | -79.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.