DEWULF CONSTRUCT: 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 CONSTRUCT
Largest movements
- Cash -€63,161
down €63,161 (-59.9%), from €105,416 to €42,255
mainly Investment in fixed assets (net) (-€48,176) and Stocks and contracts (-€39,120)
- Stocks and contracts +€39,120
up €39,120 (+84.4%), from €46,370 to €85,490
- Receivables within one year +€26,415
up €26,415 (+64.5%), from €40,969 to €67,384
of which Trade receivables: +€29,808
- Tangible fixed assets +€5,374
up €5,374 (+6.0%), from €90,133 to €95,508
of which Furniture and vehicles: +€19,691
- Reserves +€10,908
up €10,908 (+9.7%), from €113,019 to €123,927
- Trade debts -€6,424
down €6,424 (-7.9%), from €80,923 to €74,498
- Gross operating margin -€27,126
down €27,126 (-11.8%), from €229,554 to €202,428
- Staff costs -€25,275
down €25,275 (-15.6%), from €162,023 to €136,748
- Depreciation +€5,165
up €5,165 (+13.7%), from €37,636 to €42,801
- Financial charges -€2,988
down €2,988 (-30.9%), from €9,672 to €6,684
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €282,889 | €290,637 | +€7,748 | +2.7% |
| Fixed assets | 21/28 | €90,133 | €95,508 | +€5,374 | +6.0% |
| Tangible fixed assets | 22/27 | €90,133 | €95,508 | +€5,374 | +6.0% |
| Plant, machinery and equipment | 23 | €75,447 | €61,130 | -€14,317 | -19.0% |
| Furniture and vehicles | 24 | €14,686 | €34,377 | +€19,691 | +134.1% |
| Current assets | 29/58 | €192,756 | €195,129 | +€2,374 | +1.2% |
| Stocks and contracts in progress | 3 | €46,370 | €85,490 | +€39,120 | +84.4% |
| Contracts in progress | 37 | €46,370 | €85,490 | +€39,120 | +84.4% |
| Amounts receivable within one year | 40/41 | €40,969 | €67,384 | +€26,415 | +64.5% |
| Trade receivables | 40 | €24,274 | €54,082 | +€29,808 | +122.8% |
| Other amounts receivable | 41 | €16,695 | €13,302 | -€3,393 | -20.3% |
| Cash at bank and in hand | 54/58 | €105,416 | €42,255 | -€63,161 | -59.9% |
| Total equity and liabilities | 10/49 | €282,889 | €290,637 | +€7,748 | +2.7% |
| Equity | 10/15 | €119,452 | €130,360 | +€10,908 | +9.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €113,019 | €123,927 | +€10,908 | +9.7% |
| Distributable reserves | 133 | €113,019 | €123,927 | +€10,908 | +9.7% |
| Profit (loss) carried forward | 14 | €233 | €233 | = | 0.0% |
| Amounts payable | 17/49 | €163,437 | €160,277 | -€3,160 | -1.9% |
| Amounts payable after more than one year | 17 | €17,052 | €15,306 | -€1,746 | -10.2% |
| Financial debts | 170/4 | €17,052 | €15,306 | -€1,746 | -10.2% |
| Amounts payable within one year | 42/48 | €146,385 | €144,389 | -€1,996 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €17,820 | €20,715 | +€2,895 | +16.2% |
| Trade debts | 44 | €80,923 | €74,498 | -€6,424 | -7.9% |
| Suppliers | 440/4 | €80,923 | €74,498 | -€6,424 | -7.9% |
| Taxes, remuneration and social security | 45 | €6,893 | €9,661 | +€2,768 | +40.2% |
| Taxes | 450/3 | €1,123 | €3,372 | +€2,249 | +200.2% |
| Remuneration and social security | 454/9 | €5,770 | €6,290 | +€520 | +9.0% |
| Other amounts payable | 47/48 | €40,749 | €39,514 | -€1,235 | -3.0% |
| Accrued charges and deferred income | 492/3 | - | €582 | +€582 | |
| Non-recurring operating income | 76A | €9,050 | - | -€9,050 | |
| Remuneration, social security and pensions | 62 | €162,023 | €136,748 | -€25,275 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,636 | €42,801 | +€5,165 | +13.7% |
| Other operating charges | 640/8 | €1,574 | €679 | -€895 | -56.9% |
| Gross operating margin | 9900 | €229,554 | €202,428 | -€27,126 | -11.8% |
| Operating profit (loss) | 9901 | €28,320 | €22,200 | -€6,120 | -21.6% |
| Financial income | 75/76B | €3,168 | €1,764 | -€1,404 | -44.3% |
| Recurring financial income | 75 | €3,168 | €1,764 | -€1,404 | -44.3% |
| Financial charges | 65/66B | €9,672 | €6,684 | -€2,988 | -30.9% |
| Recurring financial charges | 65 | €9,672 | €6,684 | -€2,988 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €21,817 | €17,280 | -€4,537 | -20.8% |
| Income taxes | 67/77 | €6,522 | €6,372 | -€150 | -2.3% |
| Profit (loss) for the period | 9904 | €15,295 | €10,908 | -€4,387 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,295 | €10,908 | -€4,387 | -28.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.