DEWO: 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.
DEWO
Largest movements
- Tangible fixed assets +€35,851
up €35,851 (+11.3%), from €318,165 to €354,015
of which Land and buildings: +€250,949
- Receivables within one year -€20,975
down €20,975 (-62.3%), from €33,666 to €12,690
of which Trade receivables: -€22,701
- Tax, wage and social debts -€31,284
down €31,284 (-85.6%), from €36,554 to €5,271
- Other debts +€30,584
up €30,584 (+15.7%), from €194,426 to €225,010
- Reserves +€29,518
up €29,518 (+26.5%), from €111,430 to €140,948
- Debts after one year -€14,901
down €14,901 (-5.8%), from €258,697 to €243,796
- Depreciation -€22,434
down €22,434 (-75.3%), from €29,776 to €7,342
- Financial charges +€4,622
up €4,622 (+75.6%), from €6,114 to €10,736
- Gross operating margin +€3,473
up €3,473 (+2.8%), from €125,937 to €129,410
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 | €634,885 | €650,042 | +€15,157 | +2.4% |
| Fixed assets | 21/28 | €318,165 | €354,015 | +€35,851 | +11.3% |
| Tangible fixed assets | 22/27 | €318,165 | €354,015 | +€35,851 | +11.3% |
| Land and buildings | 22 | €100,000 | €350,949 | +€250,949 | +250.9% |
| Furniture and vehicles | 24 | €3,571 | €1,624 | -€1,947 | -54.5% |
| Other tangible fixed assets | 26 | €1,843 | €1,442 | -€401 | -21.8% |
| Assets under construction and advance payments | 27 | €212,750 | €0 | -€212,750 | -100.0% |
| Current assets | 29/58 | €316,720 | €296,026 | -€20,694 | -6.5% |
| Amounts receivable within one year | 40/41 | €33,666 | €12,690 | -€20,975 | -62.3% |
| Trade receivables | 40 | €22,701 | €0 | -€22,701 | -100.0% |
| Other amounts receivable | 41 | €10,965 | €12,690 | +€1,726 | +15.7% |
| Cash at bank and in hand | 54/58 | €280,144 | €279,345 | -€799 | -0.3% |
| Deferred charges and accrued income | 490/1 | €2,911 | €3,992 | +€1,081 | +37.1% |
| Total equity and liabilities | 10/49 | €634,885 | €650,042 | +€15,157 | +2.4% |
| Equity | 10/15 | €130,030 | €159,548 | +€29,518 | +22.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,430 | €140,948 | +€29,518 | +26.5% |
| Distributable reserves | 133 | €111,430 | €140,948 | +€29,518 | +26.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €504,855 | €490,494 | -€14,361 | -2.8% |
| Amounts payable after more than one year | 17 | €258,697 | €243,796 | -€14,901 | -5.8% |
| Financial debts | 170/4 | €258,697 | €243,796 | -€14,901 | -5.8% |
| Amounts payable within one year | 42/48 | €245,996 | €246,598 | +€601 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €14,338 | €14,901 | +€562 | +3.9% |
| Trade debts | 44 | €678 | €1,417 | +€738 | +108.9% |
| Suppliers | 440/4 | €678 | €1,417 | +€738 | +108.9% |
| Taxes, remuneration and social security | 45 | €36,554 | €5,271 | -€31,284 | -85.6% |
| Taxes | 450/3 | €36,554 | €5,271 | -€31,284 | -85.6% |
| Other amounts payable | 47/48 | €194,426 | €225,010 | +€30,584 | +15.7% |
| Accrued charges and deferred income | 492/3 | €162 | €100 | -€62 | -38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,776 | €7,342 | -€22,434 | -75.3% |
| Other operating charges | 640/8 | €2,770 | €2,195 | -€575 | -20.8% |
| Gross operating margin | 9900 | €125,937 | €129,410 | +€3,473 | +2.8% |
| Operating profit (loss) | 9901 | €93,391 | €119,873 | +€26,482 | +28.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €6,114 | €10,736 | +€4,622 | +75.6% |
| Recurring financial charges | 65 | €6,114 | €10,736 | +€4,622 | +75.6% |
| Profit (loss) for the period before taxes | 9903 | €87,277 | €109,138 | +€21,860 | +25.0% |
| Income taxes | 67/77 | €18,827 | €18,483 | -€345 | -1.8% |
| Profit (loss) for the period | 9904 | €68,450 | €90,655 | +€22,205 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €68,450 | €90,655 | +€22,205 | +32.4% |
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 8 October 2026 via checked.be.