DEWULF: 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.
DEWULF
Largest movements
- Tangible fixed assets -€14,050
down €14,050 (-10.4%), from €135,322 to €121,271
of which Plant, machinery and equipment: -€8,632
- Cash +€6,877
up €6,877 (+377.5%), from €1,822 to €8,698
mainly Depreciation (+€16,392) and Net result for the year (+€3,999)
- Receivables within one year +€5,427
up €5,427 (+2.2%), from €250,090 to €255,517
of which Other amounts receivable: +€5,692
- Trade debts -€6,208
down €6,208 (-36.1%), from €17,175 to €10,967
- Profit (loss) carried forward +€3,999
up €3,999 (+9.6%), from €41,784 to €45,783
- Turnover -€29,000
down €29,000 (-19.3%), from €150,000 to €121,000
- Gross operating margin -€26,241
down €26,241 (-46.9%), from €55,901 to €29,660
- Staff costs -€23,052
down €23,052 (-91.9%), from €25,091 to €2,039
- Depreciation -€6,702
down €6,702 (-29.0%), from €23,094 to €16,392
- Purchases and services -€3,766
down €3,766 (-3.8%), from €99,306 to €95,540
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 | €388,789 | €387,092 | -€1,698 | -0.4% |
| Fixed assets | 21/28 | €135,322 | €121,271 | -€14,050 | -10.4% |
| Tangible fixed assets | 22/27 | €135,322 | €121,271 | -€14,050 | -10.4% |
| Land and buildings | 22 | €80,045 | €74,627 | -€5,418 | -6.8% |
| Plant, machinery and equipment | 23 | €55,277 | €46,645 | -€8,632 | -15.6% |
| Current assets | 29/58 | €253,468 | €265,820 | +€12,352 | +4.9% |
| Amounts receivable within one year | 40/41 | €250,090 | €255,517 | +€5,427 | +2.2% |
| Trade receivables | 40 | €16,165 | €15,900 | -€265 | -1.6% |
| Other amounts receivable | 41 | €233,925 | €239,617 | +€5,692 | +2.4% |
| Cash at bank and in hand | 54/58 | €1,822 | €8,698 | +€6,877 | +377.5% |
| Deferred charges and accrued income | 490/1 | €1,556 | €1,605 | +€49 | +3.1% |
| Total equity and liabilities | 10/49 | €388,789 | €387,092 | -€1,698 | -0.4% |
| Equity | 10/15 | €369,034 | €373,033 | +€3,999 | +1.1% |
| Contributions | 10/11 | €297,500 | €297,500 | = | 0.0% |
| Reserves | 13 | €29,750 | €29,750 | = | 0.0% |
| Distributable reserves | 133 | €29,750 | €29,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,784 | €45,783 | +€3,999 | +9.6% |
| Amounts payable | 17/49 | €19,755 | €14,058 | -€5,697 | -28.8% |
| Amounts payable within one year | 42/48 | €19,755 | €14,058 | -€5,697 | -28.8% |
| Trade debts | 44 | €17,175 | €10,967 | -€6,208 | -36.1% |
| Suppliers | 440/4 | €17,175 | €10,967 | -€6,208 | -36.1% |
| Taxes, remuneration and social security | 45 | €1,530 | €2,042 | +€512 | +33.5% |
| Taxes | 450/3 | €1,189 | €2,042 | +€853 | +71.7% |
| Remuneration and social security | 454/9 | €341 | - | -€341 | |
| Other amounts payable | 47/48 | €1,050 | €1,050 | = | 0.0% |
| Turnover | 70 | €150,000 | €121,000 | -€29,000 | -19.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €99,306 | €95,540 | -€3,766 | -3.8% |
| Remuneration, social security and pensions | 62 | €25,091 | €2,039 | -€23,052 | -91.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,094 | €16,392 | -€6,702 | -29.0% |
| Other operating charges | 640/8 | €8,107 | €8,790 | +€683 | +8.4% |
| Gross operating margin | 9900 | €55,901 | €29,660 | -€26,241 | -46.9% |
| Operating profit (loss) | 9901 | -€391 | €2,439 | +€2,829 | |
| Financial income | 75/76B | €3,273 | €3,630 | +€357 | +10.9% |
| Recurring financial income | 75 | €3,273 | €3,630 | +€357 | +10.9% |
| Financial charges | 65/66B | €24 | €28 | +€4 | +18.1% |
| Recurring financial charges | 65 | €24 | €28 | +€4 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €2,859 | €6,041 | +€3,182 | +111.3% |
| Income taxes | 67/77 | €1,189 | €2,042 | +€853 | +71.7% |
| Profit (loss) for the period | 9904 | €1,670 | €3,999 | +€2,329 | +139.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,670 | €3,999 | +€2,329 | +139.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.