DEWULF AQUA: what changed
What changed
DEWULF AQUA
NACE 42.919, Civil engineering
filed annual accounts (NBB)
Net result for the year
€26,863
2024 · €7,946+€18,917
Equity
€601,216
2024 · €576,071+€25,145
Cash
€8,735
2024 · €7,963+€772
Balance sheet total
€1.5m
2024 · €1.5m-€83,872
Largest movements
Assets
- Receivables within one year -€55,701
down €55,701 (-32.6%), from €170,720 to €115,019
of which Trade receivables: -€55,701
- Tangible fixed assets -€32,820
down €32,820 (-2.8%), from €1.2m to €1.2m
of which Land and buildings: -€34,920
Equity and liabilities
- Debts after one year -€81,638
down €81,638 (-12.1%), from €673,062 to €591,425
- Reserves +€25,145
up €25,145 (+4.5%), from €557,471 to €582,616
of which Distributable reserves: +€36,385
Income statement
- Gross operating margin +€35,816
up €35,816 (+29.4%), from €121,699 to €157,515
- Financial charges +€11,580
up €11,580 (+49.3%), from €23,504 to €35,083
of which Non-recurring financial charges: +€12,240
- Taxes +€7,321
up €7,321 (+70.7%), from €10,358 to €17,679
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€7,946
Gross operating margin
+€35,816
Staff costs
-€1,317
Depreciation
+€1,461
Other operating charges
-€700
Other operating items
+€1,972
Financial income
+€586
Financial charges
-€11,580
Taxes
-€7,321
Result 2025
€26,863
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€122,774
Investment
-€26,212
Financing
-€95,789
Cash 2024
€7,963
From operations (derived)
+€122,774
Net result for the year
+€26,863
Depreciation
+€71,272
Stocks and contracts
-€6,979
Receivables within one year
+€55,701
Deferred charges and accrued income
-€9,138
Provisions
-€5,788
Trade debts
-€2,674
Tax, wage and social debts
-€1,174
Other debts
-€5,866
Accrued charges and deferred income
+€557
Investment (derived)
-€26,212
Investment in fixed assets (net)
-€38,452
Current investments
+€12,240
Financing
-€95,789
Debts after one year
-€81,638
Current portion of long-term debt
-€2,434
Short-term financial debts
-€10,000
Contributions, distributions and other
-€1,718
Cash 2025
€8,735
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,536,337 | €1,452,466 | -€83,872 | -5.5% |
| Fixed assets | 21/28 | €1,183,756 | €1,150,935 | -€32,820 | -2.8% |
| Tangible fixed assets | 22/27 | €1,183,426 | €1,150,606 | -€32,820 | -2.8% |
| Land and buildings | 22 | €1,092,210 | €1,057,290 | -€34,920 | -3.2% |
| Plant, machinery and equipment | 23 | €58,819 | €39,587 | -€19,232 | -32.7% |
| Furniture and vehicles | 24 | €32,397 | €53,729 | +€21,332 | +65.8% |
| Financial fixed assets | 28 | €329 | €329 | = | 0.0% |
| Current assets | 29/58 | €352,582 | €301,530 | -€51,051 | -14.5% |
| Stocks and contracts in progress | 3 | €160,121 | €167,101 | +€6,979 | +4.4% |
| Stocks | 30/36 | €160,121 | €167,101 | +€6,979 | +4.4% |
| Amounts receivable within one year | 40/41 | €170,720 | €115,019 | -€55,701 | -32.6% |
| Trade receivables | 40 | €114,078 | €58,377 | -€55,701 | -48.8% |
| Other amounts receivable | 41 | €56,642 | €56,642 | = | 0.0% |
| Current investments | 50/53 | €12,240 | €0 | -€12,240 | -100% |
| Cash at bank and in hand | 54/58 | €7,963 | €8,735 | +€772 | +9.7% |
| Deferred charges and accrued income | 490/1 | €1,538 | €10,676 | +€9,138 | +594% |
| Total equity and liabilities | 10/49 | €1,536,337 | €1,452,466 | -€83,872 | -5.5% |
| Equity | 10/15 | €576,071 | €601,216 | +€25,145 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €557,471 | €582,616 | +€25,145 | +4.5% |
| Tax-exempt reserves | 132 | €153,939 | €142,698 | -€11,241 | -7.3% |
| Distributable reserves | 133 | €403,532 | €439,918 | +€36,385 | +9.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €79,342 | €73,554 | -€5,788 | -7.3% |
| Deferred taxes | 168 | €79,342 | €73,554 | -€5,788 | -7.3% |
| Amounts payable | 17/49 | €880,925 | €777,696 | -€103,228 | -11.7% |
| Amounts payable after more than one year | 17 | €673,062 | €591,425 | -€81,638 | -12.1% |
| Financial debts | 170/4 | €673,062 | €591,425 | -€81,638 | -12.1% |
| Amounts payable within one year | 42/48 | €205,450 | €183,303 | -€22,147 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €112,790 | €110,356 | -€2,434 | -2.2% |
| Financial debts | 43 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Credit institutions | 430/8 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Trade debts | 44 | €8,118 | €5,445 | -€2,674 | -32.9% |
| Suppliers | 440/4 | €8,118 | €5,445 | -€2,674 | -32.9% |
| Taxes, remuneration and social security | 45 | €9,006 | €7,831 | -€1,174 | -13.0% |
| Taxes | 450/3 | €9,006 | €7,831 | -€1,174 | -13.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €45,537 | €39,671 | -€5,866 | -12.9% |
| Accrued charges and deferred income | 492/3 | €2,412 | €2,969 | +€557 | +23.1% |
| Remuneration, social security and pensions | 62 | €388 | €1,704 | +€1,317 | +339% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,734 | €71,272 | -€1,461 | -2.0% |
| Other operating charges | 640/8 | €10,836 | €11,536 | +€700 | +6.5% |
| Non-recurring operating charges | 66A | €1,972 | €0 | -€1,972 | -100% |
| Gross operating margin | 9900 | €121,699 | €157,515 | +€35,816 | +29.4% |
| Operating profit (loss) | 9901 | €35,770 | €73,002 | +€37,232 | +104% |
| Financial income | 75/76B | €249 | €835 | +€586 | +235% |
| Recurring financial income | 75 | €249 | €835 | +€586 | +235% |
| Financial charges | 65/66B | €23,504 | €35,083 | +€11,580 | +49.3% |
| Recurring financial charges | 65 | €23,504 | €22,843 | -€660 | -2.8% |
| Non-recurring financial charges | 66B | - | €12,240 | +€12,240 | |
| Profit (loss) for the period before taxes | 9903 | €12,515 | €38,754 | +€26,238 | +210% |
| Transfer from deferred taxes | 780 | €5,788 | €5,788 | = | 0.0% |
| Income taxes | 67/77 | €10,358 | €17,679 | +€7,321 | +70.7% |
| Profit (loss) for the period | 9904 | €7,946 | €26,863 | +€18,917 | +238% |
| Transfer from tax-exempt reserves | 789 | €11,241 | €11,241 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,186 | €38,103 | +€18,917 | +98.6% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.