Dewi: 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.
Dewi
Largest movements
- Cash +€89,647
up €89,647 (+61.5%), from €145,860 to €235,508
mainly Net result for the year (+€117,351) and Depreciation (+€30,155)
- Receivables within one year +€58,455
up €58,455 (+5.4%), from €1.1m to €1.1m
of which Other amounts receivable: +€60,673
- Reserves +€117,351
up €117,351 (+5.0%), from €2.3m to €2.5m
- Financial income +€65,645
up €65,645 (+67.8%), from €96,886 to €162,531
- Gross operating margin -€33,668
down €33,668 (-31.9%), from €105,430 to €71,761
- Taxes +€13,569
up €13,569 (+31.3%), from €43,324 to €56,892
- Financial charges +€3,351
up €3,351 (+24.9%), from €13,454 to €16,805
- Write-downs +€1,673
up €1,673, from €0 to €1,673
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 | €5,206,323 | €5,324,616 | +€118,293 | +2.3% |
| Fixed assets | 21/28 | €1,679,683 | €1,656,359 | -€23,324 | -1.4% |
| Tangible fixed assets | 22/27 | €312,483 | €289,159 | -€23,324 | -7.5% |
| Land and buildings | 22 | €312,400 | €289,159 | -€23,242 | -7.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €82 | €0 | -€82 | -100.0% |
| Financial fixed assets | 28 | €1,367,200 | €1,367,200 | = | 0.0% |
| Current assets | 29/58 | €3,526,640 | €3,668,257 | +€141,617 | +4.0% |
| Amounts receivable within one year | 40/41 | €1,074,498 | €1,132,953 | +€58,455 | +5.4% |
| Trade receivables | 40 | €2,218 | €0 | -€2,218 | -100.0% |
| Other amounts receivable | 41 | €1,072,280 | €1,132,953 | +€60,673 | +5.7% |
| Current investments | 50/53 | €2,295,697 | €2,289,353 | -€6,344 | -0.3% |
| Cash at bank and in hand | 54/58 | €145,860 | €235,508 | +€89,647 | +61.5% |
| Deferred charges and accrued income | 490/1 | €10,586 | €10,444 | -€142 | -1.3% |
| Total equity and liabilities | 10/49 | €5,206,323 | €5,324,616 | +€118,293 | +2.3% |
| Equity | 10/15 | €5,064,219 | €5,181,570 | +€117,351 | +2.3% |
| Contributions | 10/11 | €2,727,397 | €2,727,397 | = | 0.0% |
| Reserves | 13 | €2,336,822 | €2,454,173 | +€117,351 | +5.0% |
| Distributable reserves | 133 | €2,336,822 | €2,454,173 | +€117,351 | +5.0% |
| Amounts payable | 17/49 | €142,104 | €143,046 | +€942 | +0.7% |
| Amounts payable within one year | 42/48 | €139,414 | €140,165 | +€751 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €3,600 | €2,600 | -€1,000 | -27.8% |
| Trade debts | 44 | €4,872 | €1,305 | -€3,567 | -73.2% |
| Suppliers | 440/4 | €4,872 | €1,305 | -€3,567 | -73.2% |
| Taxes, remuneration and social security | 45 | €5,983 | €6,238 | +€255 | +4.3% |
| Taxes | 450/3 | €5,983 | €6,238 | +€255 | +4.3% |
| Other amounts payable | 47/48 | €124,960 | €130,023 | +€5,063 | +4.1% |
| Accrued charges and deferred income | 492/3 | €2,690 | €2,881 | +€191 | +7.1% |
| Non-recurring operating income | 76A | €3,750 | €1,000 | -€2,750 | -73.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,340 | €30,155 | -€1,185 | -3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €1,673 | +€1,673 | |
| Other operating charges | 640/8 | €11,332 | €11,416 | +€84 | +0.7% |
| Gross operating margin | 9900 | €105,430 | €71,761 | -€33,668 | -31.9% |
| Operating profit (loss) | 9901 | €62,757 | €28,517 | -€34,240 | -54.6% |
| Financial income | 75/76B | €96,886 | €162,531 | +€65,645 | +67.8% |
| Recurring financial income | 75 | €96,886 | €162,531 | +€65,645 | +67.8% |
| Financial charges | 65/66B | €13,454 | €16,805 | +€3,351 | +24.9% |
| Recurring financial charges | 65 | €13,454 | €16,805 | +€3,351 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | €146,189 | €174,243 | +€28,054 | +19.2% |
| Income taxes | 67/77 | €43,324 | €56,892 | +€13,569 | +31.3% |
| Profit (loss) for the period | 9904 | €102,865 | €117,351 | +€14,485 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €102,865 | €117,351 | +€14,485 | +14.1% |
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 12 October 2026 via checked.be.