DeWoCo: 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.
DeWoCo
Largest movements
- Current investments -€930,716
down €930,716 (-73.3%), from €1.3m to €339,128
- Cash +€679,708
up €679,708 (+13274.8%), from €5,120 to €684,828
mainly Current investments (+€930,716) and Net result for the year (+€278,486)
- Deferred charges and accrued income +€27,452
up €27,452 (+1943.6%), from €1,412 to €28,864
- Other debts -€419,341
down €419,341 (-94.0%), from €446,341 to €27,000
- Debts after one year +€189,636
up €189,636 (+6835.2%), from €2,774 to €192,410
- Tax, wage and social debts -€38,297
down €38,297 (-41.5%), from €92,344 to €54,047
of which Taxes: -€39,712
- Reserves +€28,356
up €28,356 (+3.8%), from €741,927 to €770,283
of which Distributable reserves: +€251,486
- Gross operating margin -€738,693
down €738,693 (-77.8%), from €949,117 to €210,424
- Taxes -€191,131
down €191,131 (-82.7%), from €231,145 to €40,014
- Financial income +€119,290
up €119,290 (+306.1%), from €38,970 to €158,261
- Staff costs +€13,612
up €13,612 (+66.8%), from €20,364 to €33,976
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 | €1,303,949 | €1,063,265 | -€240,685 | -18.5% |
| Fixed assets | 21/28 | €17,205 | €5,969 | -€11,236 | -65.3% |
| Tangible fixed assets | 22/27 | €17,205 | €5,969 | -€11,236 | -65.3% |
| Furniture and vehicles | 24 | €17,205 | €5,969 | -€11,236 | -65.3% |
| Current assets | 29/58 | €1,286,744 | €1,057,296 | -€229,448 | -17.8% |
| Amounts receivable within one year | 40/41 | €10,366 | €4,475 | -€5,891 | -56.8% |
| Trade receivables | 40 | €4,638 | €3,113 | -€1,525 | -32.9% |
| Other amounts receivable | 41 | €5,728 | €1,362 | -€4,367 | -76.2% |
| Current investments | 50/53 | €1,269,845 | €339,128 | -€930,716 | -73.3% |
| Cash at bank and in hand | 54/58 | €5,120 | €684,828 | +€679,708 | +13274.8% |
| Deferred charges and accrued income | 490/1 | €1,412 | €28,864 | +€27,452 | +1943.6% |
| Total equity and liabilities | 10/49 | €1,303,949 | €1,063,265 | -€240,685 | -18.5% |
| Equity | 10/15 | €760,527 | €788,883 | +€28,356 | +3.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €741,927 | €770,283 | +€28,356 | +3.8% |
| Tax-exempt reserves | 132 | €484,150 | €261,020 | -€223,130 | -46.1% |
| Distributable reserves | 133 | €257,777 | €509,263 | +€251,486 | +97.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €543,422 | €274,382 | -€269,040 | -49.5% |
| Amounts payable after more than one year | 17 | €2,774 | €192,410 | +€189,636 | +6835.2% |
| Other amounts payable | 178/9 | €2,774 | €192,410 | +€189,636 | +6835.2% |
| Amounts payable within one year | 42/48 | €540,648 | €81,971 | -€458,676 | -84.8% |
| Trade debts | 44 | €1,963 | €924 | -€1,038 | -52.9% |
| Suppliers | 440/4 | €1,963 | €924 | -€1,038 | -52.9% |
| Taxes, remuneration and social security | 45 | €92,344 | €54,047 | -€38,297 | -41.5% |
| Taxes | 450/3 | €89,300 | €49,587 | -€39,712 | -44.5% |
| Remuneration and social security | 454/9 | €3,044 | €4,460 | +€1,416 | +46.5% |
| Other amounts payable | 47/48 | €446,341 | €27,000 | -€419,341 | -94.0% |
| Remuneration, social security and pensions | 62 | €20,364 | €33,976 | +€13,612 | +66.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,874 | €8,221 | -€4,653 | -36.1% |
| Other operating charges | 640/8 | €1,569 | €1,296 | -€273 | -17.4% |
| Non-recurring operating charges | 66A | - | €2,865 | +€2,865 | |
| Gross operating margin | 9900 | €949,117 | €210,424 | -€738,693 | -77.8% |
| Operating profit (loss) | 9901 | €914,311 | €164,066 | -€750,245 | -82.1% |
| Financial income | 75/76B | €38,970 | €158,261 | +€119,290 | +306.1% |
| Recurring financial income | 75 | €38,970 | €158,261 | +€119,290 | +306.1% |
| Financial charges | 65/66B | €7,579 | €3,826 | -€3,752 | -49.5% |
| Recurring financial charges | 65 | €7,579 | €3,826 | -€3,752 | -49.5% |
| Profit (loss) for the period before taxes | 9903 | €945,702 | €318,500 | -€627,202 | -66.3% |
| Income taxes | 67/77 | €231,145 | €40,014 | -€191,131 | -82.7% |
| Profit (loss) for the period | 9904 | €714,557 | €278,486 | -€436,071 | -61.0% |
| Transfer from tax-exempt reserves | 789 | - | €223,130 | +€223,130 | |
| Transfer to tax-exempt reserves | 689 | €189,450 | €0 | -€189,450 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €525,107 | €501,616 | -€23,491 | -4.5% |
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 9 October 2026 via checked.be.