DEWULF: 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.
DEWULF
Largest movements
- Cash +€77,686
up €77,686 (+50.3%), from €154,516 to €232,202
mainly Net result for the year (+€64,414) and Depreciation (+€51,228)
- Stocks and contracts -€5,557
down €5,557 (-17.9%), from €31,018 to €25,461
- Reserves +€64,414
up €64,414 (+27.1%), from €237,528 to €301,942
of which Distributable reserves: +€64,414
- Tax, wage and social debts +€14,799
up €14,799 (+36.3%), from €40,720 to €55,519
of which Taxes: +€27,053
- Gross operating margin +€56,091
up €56,091 (+20.3%), from €276,537 to €332,628
- Taxes +€31,386
up €31,386 (+1134.8%), from €2,766 to €34,152
- Staff costs -€26,662
down €26,662 (-13.1%), from €203,915 to €177,254
- Depreciation -€6,261
down €6,261 (-10.9%), from €57,489 to €51,228
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 | €346,433 | €423,140 | +€76,707 | +22.1% |
| Fixed assets | 21/28 | €142,295 | €145,161 | +€2,866 | +2.0% |
| Tangible fixed assets | 22/27 | €141,986 | €144,852 | +€2,866 | +2.0% |
| Land and buildings | 22 | €43,819 | €36,238 | -€7,580 | -17.3% |
| Plant, machinery and equipment | 23 | €13,294 | €9,984 | -€3,310 | -24.9% |
| Furniture and vehicles | 24 | €72,873 | €86,630 | +€13,756 | +18.9% |
| Other tangible fixed assets | 26 | €12,000 | €12,000 | = | 0.0% |
| Financial fixed assets | 28 | €309 | €309 | = | 0.0% |
| Current assets | 29/58 | €204,139 | €277,980 | +€73,841 | +36.2% |
| Stocks and contracts in progress | 3 | €31,018 | €25,461 | -€5,557 | -17.9% |
| Stocks | 30/36 | €31,018 | €25,461 | -€5,557 | -17.9% |
| Amounts receivable within one year | 40/41 | €8,125 | €7,957 | -€168 | -2.1% |
| Trade receivables | 40 | €1,830 | €1,438 | -€392 | -21.4% |
| Other amounts receivable | 41 | €6,295 | €6,519 | +€224 | +3.6% |
| Cash at bank and in hand | 54/58 | €154,516 | €232,202 | +€77,686 | +50.3% |
| Deferred charges and accrued income | 490/1 | €10,479 | €12,359 | +€1,880 | +17.9% |
| Total equity and liabilities | 10/49 | €346,433 | €423,140 | +€76,707 | +22.1% |
| Equity | 10/15 | €243,728 | €308,142 | +€64,414 | +26.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €237,528 | €301,942 | +€64,414 | +27.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €235,668 | €300,082 | +€64,414 | +27.3% |
| Amounts payable | 17/49 | €102,705 | €114,998 | +€12,293 | +12.0% |
| Amounts payable after more than one year | 17 | €30,990 | €27,356 | -€3,635 | -11.7% |
| Other amounts payable | 178/9 | €30,990 | €27,356 | -€3,635 | -11.7% |
| Amounts payable within one year | 42/48 | €71,714 | €87,642 | +€15,928 | +22.2% |
| Trade debts | 44 | €30,834 | €31,963 | +€1,129 | +3.7% |
| Suppliers | 440/4 | €30,834 | €31,963 | +€1,129 | +3.7% |
| Advances received on contracts in progress | 46 | €160 | €160 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €40,720 | €55,519 | +€14,799 | +36.3% |
| Taxes | 450/3 | €6,574 | €33,627 | +€27,053 | +411.5% |
| Remuneration and social security | 454/9 | €34,146 | €21,892 | -€12,254 | -35.9% |
| Remuneration, social security and pensions | 62 | €203,915 | €177,254 | -€26,662 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,489 | €51,228 | -€6,261 | -10.9% |
| Other operating charges | 640/8 | €7,418 | €6,307 | -€1,111 | -15.0% |
| Gross operating margin | 9900 | €276,537 | €332,628 | +€56,091 | +20.3% |
| Operating profit (loss) | 9901 | €7,715 | €97,838 | +€90,124 | +1168.2% |
| Financial income | 75/76B | €450 | €934 | +€484 | +107.5% |
| Recurring financial income | 75 | €450 | €934 | +€484 | +107.5% |
| Financial charges | 65/66B | €210 | €207 | -€3 | -1.5% |
| Recurring financial charges | 65 | €210 | €207 | -€3 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €7,955 | €98,566 | +€90,611 | +1139.1% |
| Income taxes | 67/77 | €2,766 | €34,152 | +€31,386 | +1134.8% |
| Profit (loss) for the period | 9904 | €5,189 | €64,414 | +€59,225 | +1141.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,189 | €64,414 | +€59,225 | +1141.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.