DMW: 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.
DMW
Largest movements
- Cash +€65,904
up €65,904 (+24.3%), from €270,968 to €336,872
mainly Net result for the year (+€258,109) and Other debts (+€58,854)
- Receivables after one year +€40,000
up €40,000 (+50.0%), from €80,000 to €120,000
- Tangible fixed assets -€33,659
down €33,659 (-33.4%), from €100,855 to €67,196
of which Other tangible fixed assets: -€24,994
- Receivables within one year +€16,454
up €16,454 (+155.9%), from €10,552 to €27,006
- Other debts +€58,854
up €58,854 (+1202.1%), from €4,896 to €63,750
- Tax, wage and social debts +€17,953
up €17,953 (+854.8%), from €2,100 to €20,053
- Short-term financial debts +€14,174
up €14,174 (+501.9%), from €2,824 to €16,999
- Debts after one year -€13,870
down €13,870 (-27.0%), from €51,439 to €37,568
- Reserves +€8,109
up €8,109 (+2.1%), from €388,198 to €396,307
of which Tax-exempt reserves: +€4,730
- Gross operating margin +€218,859
up €218,859 (+144.4%), from €151,565 to €370,425
- Taxes +€52,404
up €52,404 (+167.3%), from €31,325 to €83,729
- Depreciation +€9,422
up €9,422 (+63.1%), from €14,923 to €24,346
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 | €466,919 | €554,749 | +€87,830 | +18.8% |
| Fixed assets | 21/28 | €100,855 | €67,196 | -€33,659 | -33.4% |
| Tangible fixed assets | 22/27 | €100,855 | €67,196 | -€33,659 | -33.4% |
| Plant, machinery and equipment | 23 | €2,159 | €2,832 | +€673 | +31.2% |
| Furniture and vehicles | 24 | €10,160 | €12,803 | +€2,644 | +26.0% |
| Leasing and similar rights | 25 | €63,543 | €51,560 | -€11,982 | -18.9% |
| Other tangible fixed assets | 26 | €24,994 | - | -€24,994 | |
| Current assets | 29/58 | €366,064 | €487,553 | +€121,489 | +33.2% |
| Amounts receivable after more than one year | 29 | €80,000 | €120,000 | +€40,000 | +50.0% |
| Trade receivables | 290 | €80,000 | €120,000 | +€40,000 | +50.0% |
| Amounts receivable within one year | 40/41 | €10,552 | €27,006 | +€16,454 | +155.9% |
| Other amounts receivable | 41 | €10,552 | €27,006 | +€16,454 | +155.9% |
| Cash at bank and in hand | 54/58 | €270,968 | €336,872 | +€65,904 | +24.3% |
| Deferred charges and accrued income | 490/1 | €4,544 | €3,675 | -€868 | -19.1% |
| Total equity and liabilities | 10/49 | €466,919 | €554,749 | +€87,830 | +18.8% |
| Equity | 10/15 | €392,198 | €400,307 | +€8,109 | +2.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €388,198 | €396,307 | +€8,109 | +2.1% |
| Tax-exempt reserves | 132 | €50,000 | €54,730 | +€4,730 | +9.5% |
| Distributable reserves | 133 | €338,198 | €341,577 | +€3,379 | +1.0% |
| Amounts payable | 17/49 | €74,721 | €154,442 | +€79,721 | +106.7% |
| Amounts payable after more than one year | 17 | €51,439 | €37,568 | -€13,870 | -27.0% |
| Financial debts | 170/4 | €51,439 | €37,568 | -€13,870 | -27.0% |
| Amounts payable within one year | 42/48 | €23,282 | €116,873 | +€93,591 | +402.0% |
| Current portion of amounts payable after more than one year | 42 | €13,398 | €13,870 | +€473 | +3.5% |
| Financial debts | 43 | €2,824 | €16,999 | +€14,174 | +501.9% |
| Credit institutions | 430/8 | €2,824 | €16,999 | +€14,174 | +501.9% |
| Trade debts | 44 | €64 | €2,201 | +€2,137 | +3336.7% |
| Suppliers | 440/4 | €64 | €2,201 | +€2,137 | +3336.7% |
| Taxes, remuneration and social security | 45 | €2,100 | €20,053 | +€17,953 | +854.8% |
| Taxes | 450/3 | €2,100 | €20,053 | +€17,953 | +854.8% |
| Other amounts payable | 47/48 | €4,896 | €63,750 | +€58,854 | +1202.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,923 | €24,346 | +€9,422 | +63.1% |
| Other operating charges | 640/8 | €1,204 | €1,644 | +€440 | +36.5% |
| Gross operating margin | 9900 | €151,565 | €370,425 | +€218,859 | +144.4% |
| Operating profit (loss) | 9901 | €135,438 | €344,435 | +€208,997 | +154.3% |
| Financial income | 75/76B | - | €155 | +€155 | |
| Recurring financial income | 75 | - | €155 | +€155 | |
| Financial charges | 65/66B | €1,940 | €2,752 | +€812 | +41.9% |
| Recurring financial charges | 65 | €1,940 | €2,752 | +€812 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | €133,498 | €341,838 | +€208,340 | +156.1% |
| Income taxes | 67/77 | €31,325 | €83,729 | +€52,404 | +167.3% |
| Profit (loss) for the period | 9904 | €102,173 | €258,109 | +€155,936 | +152.6% |
| Transfer to tax-exempt reserves | 689 | €50,000 | €4,730 | -€45,270 | -90.5% |
| Profit (loss) for the period to be appropriated | 9905 | €52,173 | €253,379 | +€201,206 | +385.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.