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
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€93,506
up €93,506 (+10.8%), from €867,686 to €961,191
- Debts after one year -€59,286
down €59,286 (-85.7%), from €69,167 to €9,881
- Trade debts -€49,721
down €49,721 (-75.8%), from €65,601 to €15,879
- Financial charges -€2,803
down €2,803 (-19.3%), from €14,523 to €11,720
- Gross operating margin -€1,347
down €1,347 (-5.8%), from €23,056 to €21,709
- Taxes +€665
up €665 (+39.3%), from €1,691 to €2,356
- Other operating charges +€285
up €285 (+27.6%), from €1,033 to €1,317
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.
Derived cash bridge
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 | €1,186,504 | €1,174,761 | -€11,743 | -1.0% |
| Fixed assets | 21/28 | €1,143,542 | €1,143,542 | = | 0.0% |
| Financial fixed assets | 28 | €1,143,542 | €1,143,542 | = | 0.0% |
| Current assets | 29/58 | €42,962 | €31,219 | -€11,743 | -27.3% |
| Amounts receivable within one year | 40/41 | €31,446 | €29,501 | -€1,945 | -6.2% |
| Trade receivables | 40 | €6,208 | €3,474 | -€2,733 | -44.0% |
| Other amounts receivable | 41 | €25,239 | €26,027 | +€788 | +3.1% |
| Cash at bank and in hand | 54/58 | €7,515 | €1,718 | -€5,798 | -77.1% |
| Deferred charges and accrued income | 490/1 | €4,000 | €0 | -€4,000 | -100% |
| Total equity and liabilities | 10/49 | €1,186,504 | €1,174,761 | -€11,743 | -1.0% |
| Equity | 10/15 | €108,939 | €115,254 | +€6,315 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €90,339 | €96,654 | +€6,315 | +7.0% |
| Distributable reserves | 133 | €90,339 | €96,654 | +€6,315 | +7.0% |
| Amounts payable | 17/49 | €1,077,565 | €1,059,507 | -€18,058 | -1.7% |
| Amounts payable after more than one year | 17 | €69,167 | €9,881 | -€59,286 | -85.7% |
| Financial debts | 170/4 | €69,167 | €9,881 | -€59,286 | -85.7% |
| Amounts payable within one year | 42/48 | €996,812 | €1,039,712 | +€42,900 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €59,286 | €59,286 | = | 0.0% |
| Trade debts | 44 | €65,601 | €15,879 | -€49,721 | -75.8% |
| Suppliers | 440/4 | €65,601 | €15,879 | -€49,721 | -75.8% |
| Taxes, remuneration and social security | 45 | €4,240 | €3,356 | -€884 | -20.8% |
| Taxes | 450/3 | €4,240 | €3,356 | -€884 | -20.8% |
| Other amounts payable | 47/48 | €867,686 | €961,191 | +€93,506 | +10.8% |
| Accrued charges and deferred income | 492/3 | €11,586 | €9,913 | -€1,673 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,033 | €1,317 | +€285 | +27.6% |
| Gross operating margin | 9900 | €23,056 | €21,709 | -€1,347 | -5.8% |
| Operating profit (loss) | 9901 | €22,024 | €20,391 | -€1,632 | -7.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €14,523 | €11,720 | -€2,803 | -19.3% |
| Recurring financial charges | 65 | €14,523 | €11,720 | -€2,803 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €7,500 | €8,671 | +€1,171 | +15.6% |
| Income taxes | 67/77 | €1,691 | €2,356 | +€665 | +39.3% |
| Profit (loss) for the period | 9904 | €5,809 | €6,315 | +€506 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,809 | €6,315 | +€506 | +8.7% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.