DEWE: 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.
DEWE
Largest movements
- Tangible fixed assets +€433,835
up €433,835 (+1106.8%), from €39,196 to €473,031
of which Land and buildings: +€442,097
- Current investments -€60,388
no longer reported in 2025 (was €60,388)
- Receivables within one year +€11,536
up €11,536 (+41.4%), from €27,851 to €39,387
of which Other amounts receivable: +€5,803
- Cash +€11,156
up €11,156 (+41.5%), from €26,901 to €38,057
mainly Debts after one year (+€351,782) and Current investments (+€60,388)
- Debts after one year +€351,782
up €351,782 (+1256.1%), from €28,005 to €379,787
- Reserves +€22,817
up €22,817 (+28.0%), from €81,551 to €104,368
- Current portion of long-term debt +€20,805
up €20,805 (+237.3%), from €8,768 to €29,573
- Depreciation +€28,213
up €28,213 (+281.8%), from €10,011 to €38,224
- Taxes -€5,677
down €5,677 (-42.6%), from €13,330 to €7,653
- Financial charges +€4,937
up €4,937 (+230.7%), from €2,140 to €7,077
- Gross operating margin +€3,806
up €3,806 (+5.2%), from €73,517 to €77,322
- Other operating charges +€1,960
up €1,960 (+1661.3%), from €118 to €2,078
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 | €156,469 | €553,901 | +€397,432 | +254.0% |
| Fixed assets | 21/28 | €39,196 | €473,031 | +€433,835 | +1106.8% |
| Tangible fixed assets | 22/27 | €39,196 | €473,031 | +€433,835 | +1106.8% |
| Land and buildings | 22 | - | €442,097 | +€442,097 | |
| Furniture and vehicles | 24 | - | €1,749 | +€1,749 | |
| Leasing and similar rights | 25 | €39,196 | €29,185 | -€10,011 | -25.5% |
| Current assets | 29/58 | €117,273 | €80,870 | -€36,403 | -31.0% |
| Amounts receivable within one year | 40/41 | €27,851 | €39,387 | +€11,536 | +41.4% |
| Trade receivables | 40 | €22,097 | €27,830 | +€5,733 | +25.9% |
| Other amounts receivable | 41 | €5,754 | €11,557 | +€5,803 | +100.8% |
| Current investments | 50/53 | €60,388 | - | -€60,388 | |
| Cash at bank and in hand | 54/58 | €26,901 | €38,057 | +€11,156 | +41.5% |
| Deferred charges and accrued income | 490/1 | €2,132 | €3,426 | +€1,293 | +60.7% |
| Total equity and liabilities | 10/49 | €156,469 | €553,901 | +€397,432 | +254.0% |
| Equity | 10/15 | €84,551 | €107,368 | +€22,817 | +27.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €81,551 | €104,368 | +€22,817 | +28.0% |
| Distributable reserves | 133 | €81,551 | €104,368 | +€22,817 | +28.0% |
| Amounts payable | 17/49 | €71,918 | €446,533 | +€374,615 | +520.9% |
| Amounts payable after more than one year | 17 | €28,005 | €379,787 | +€351,782 | +1256.1% |
| Financial debts | 170/4 | €28,005 | €379,787 | +€351,782 | +1256.1% |
| Amounts payable within one year | 42/48 | €43,890 | €64,783 | +€20,893 | +47.6% |
| Current portion of amounts payable after more than one year | 42 | €8,768 | €29,573 | +€20,805 | +237.3% |
| Trade debts | 44 | €2,314 | €4,421 | +€2,108 | +91.1% |
| Suppliers | 440/4 | €2,314 | €4,421 | +€2,108 | +91.1% |
| Taxes, remuneration and social security | 45 | €32,808 | €30,788 | -€2,020 | -6.2% |
| Taxes | 450/3 | €32,808 | €30,788 | -€2,020 | -6.2% |
| Accrued charges and deferred income | 492/3 | €23 | €1,963 | +€1,940 | +8623.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,011 | €38,224 | +€28,213 | +281.8% |
| Other operating charges | 640/8 | €118 | €2,078 | +€1,960 | +1661.3% |
| Gross operating margin | 9900 | €73,517 | €77,322 | +€3,806 | +5.2% |
| Operating profit (loss) | 9901 | €63,388 | €37,020 | -€26,368 | -41.6% |
| Financial income | 75/76B | €829 | €526 | -€303 | -36.6% |
| Recurring financial income | 75 | €829 | €526 | -€303 | -36.6% |
| Financial charges | 65/66B | €2,140 | €7,077 | +€4,937 | +230.7% |
| Recurring financial charges | 65 | €2,140 | €7,077 | +€4,937 | +230.7% |
| Profit (loss) for the period before taxes | 9903 | €62,078 | €30,470 | -€31,608 | -50.9% |
| Income taxes | 67/77 | €13,330 | €7,653 | -€5,677 | -42.6% |
| Profit (loss) for the period | 9904 | €48,747 | €22,817 | -€25,931 | -53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,747 | €22,817 | -€25,931 | -53.2% |
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 7 October 2026 via checked.be.