DMW: what changed
What changed
DMW
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€68,256
2024 · €41,344+€26,912
Equity
€175,759
2024 · €107,503+€68,256
Cash
€48,659
2024 · €16,111+€32,547
Balance sheet total
€1.9m
2024 · €381,511+€1.5m
Largest movements
Assets
- Financial fixed assets +€1.5m
up €1.5m (+465%), from €311,880 to €1.8m
- Cash +€32,547
up €32,547 (+202%), from €16,111 to €48,659
mainly Debts after one year (+€1.3m) and Net result for the year (+€68,256)
Equity and liabilities
- Debts after one year +€1.3m
up €1.3m (+564%), from €238,014 to €1.6m
- Reserves +€68,256
up €68,256 (+65.3%), from €104,503 to €172,759
- Current portion of long-term debt +€59,795
up €59,795 (+557%), from €10,739 to €70,534
Income statement
- Financial income +€18,744
new in 2025: €18,744
- Gross operating margin +€16,826
up €16,826 (+25.2%), from €66,892 to €83,718
- Taxes +€9,141
up €9,141 (+63.7%), from €14,361 to €23,503
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
€41,344
Gross operating margin
+€16,826
Other operating charges
-€40
Financial income
+€18,744
Financial charges
+€523
Taxes
-€9,141
Result 2025
€68,256
raises the resultlowers the result
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
+€81,486
Investment
-€1.5m
Financing
+€1.4m
Cash 2024
€16,111
From operations (derived)
+€81,486
Net result for the year
+€68,256
Depreciation
+€8,467
Smaller working-capital items
+€4,763
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€1.5m
Financing
+€1.4m
Debts after one year
+€1.3m
Current portion of long-term debt
+€59,795
Cash 2025
€48,659
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €381,511 | €1,858,185 | +€1.5m | +387% |
| Fixed assets | 21/28 | €342,406 | €1,784,985 | +€1.4m | +421% |
| Tangible fixed assets | 22/27 | €30,526 | €22,059 | -€8,467 | -27.7% |
| Plant, machinery and equipment | 23 | €1,506 | €1,082 | -€424 | -28.1% |
| Leasing and similar rights | 25 | €29,020 | €20,977 | -€8,043 | -27.7% |
| Financial fixed assets | 28 | €311,880 | €1,762,926 | +€1.5m | +465% |
| Current assets | 29/58 | €39,105 | €73,200 | +€34,095 | +87.2% |
| Amounts receivable within one year | 40/41 | €19,137 | €19,290 | +€153 | +0.8% |
| Trade receivables | 40 | €19,137 | €18,888 | -€249 | -1.3% |
| Other amounts receivable | 41 | €0 | €402 | +€402 | |
| Cash at bank and in hand | 54/58 | €16,111 | €48,659 | +€32,547 | +202% |
| Deferred charges and accrued income | 490/1 | €3,857 | €5,252 | +€1,395 | +36.2% |
| Total equity and liabilities | 10/49 | €381,511 | €1,858,185 | +€1.5m | +387% |
| Equity | 10/15 | €107,503 | €175,759 | +€68,256 | +63.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €104,503 | €172,759 | +€68,256 | +65.3% |
| Distributable reserves | 133 | €104,503 | €172,759 | +€68,256 | +65.3% |
| Amounts payable | 17/49 | €274,008 | €1,682,426 | +€1.4m | +514% |
| Amounts payable after more than one year | 17 | €238,014 | €1,580,326 | +€1.3m | +564% |
| Financial debts | 170/4 | €238,014 | €1,580,326 | +€1.3m | +564% |
| Amounts payable within one year | 42/48 | €35,994 | €102,100 | +€66,106 | +184% |
| Current portion of amounts payable after more than one year | 42 | €10,739 | €70,534 | +€59,795 | +557% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €437 | €1,157 | +€720 | +165% |
| Suppliers | 440/4 | €437 | €1,157 | +€720 | +165% |
| Taxes, remuneration and social security | 45 | €18,117 | €20,226 | +€2,109 | +11.6% |
| Taxes | 450/3 | €14,213 | €16,194 | +€1,981 | +13.9% |
| Remuneration and social security | 454/9 | €3,904 | €4,031 | +€128 | +3.3% |
| Other amounts payable | 47/48 | €6,701 | €10,184 | +€3,483 | +52.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,467 | €8,467 | = | 0.0% |
| Other operating charges | 640/8 | €1,484 | €1,523 | +€40 | +2.7% |
| Gross operating margin | 9900 | €66,892 | €83,718 | +€16,826 | +25.2% |
| Operating profit (loss) | 9901 | €56,941 | €73,727 | +€16,786 | +29.5% |
| Financial income | 75/76B | - | €18,744 | +€18,744 | |
| Recurring financial income | 75 | - | €18,744 | +€18,744 | |
| Financial charges | 65/66B | €1,236 | €713 | -€523 | -42.3% |
| Recurring financial charges | 65 | €1,236 | €713 | -€523 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €55,705 | €91,758 | +€36,053 | +64.7% |
| Income taxes | 67/77 | €14,361 | €23,503 | +€9,141 | +63.7% |
| Profit (loss) for the period | 9904 | €41,344 | €68,256 | +€26,912 | +65.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,344 | €68,256 | +€26,912 | +65.1% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 1 November 2026 via checked.be.