Drowa: 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.
Drowa
Largest movements
- Receivables within one year -€139,230
down €139,230 (-44.3%), from €314,333 to €175,102
of which Trade receivables: -€136,996
- Cash +€79,701
up €79,701 (+193%), from €41,263 to €120,964
mainly Receivables within one year (+€139,230) and Net result for the year (+€83,301)
- Stocks and contracts +€51,162
up €51,162 (+20.1%), from €254,162 to €305,324
of which Contracts in progress: +€52,250
- Tangible fixed assets -€9,519
down €9,519 (-13.1%), from €72,439 to €62,920
of which Furniture and vehicles: -€14,717
- Reserves +€83,250
up €83,250 (+55.0%), from €151,260 to €234,510
of which Distributable reserves: +€85,110
- Trade debts -€62,506
down €62,506 (-28.0%), from €223,325 to €160,819
- Tax, wage and social debts -€29,314
down €29,314 (-42.2%), from €69,453 to €40,139
of which Taxes: -€37,077
- Debts after one year -€10,000
down €10,000 (-33.3%), from €30,000 to €20,000
- Gross operating margin +€60,362
up €60,362 (+19.8%), from €305,522 to €365,884
- Staff costs +€45,132
up €45,132 (+27.2%), from €166,009 to €211,142
- Taxes +€4,726
up €4,726 (+13.6%), from €34,719 to €39,445
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 | €693,416 | €670,735 | -€22,681 | -3.3% |
| Fixed assets | 21/28 | €72,439 | €62,920 | -€9,519 | -13.1% |
| Tangible fixed assets | 22/27 | €72,439 | €62,920 | -€9,519 | -13.1% |
| Plant, machinery and equipment | 23 | €31,799 | €36,997 | +€5,198 | +16.3% |
| Furniture and vehicles | 24 | €40,640 | €25,923 | -€14,717 | -36.2% |
| Current assets | 29/58 | €620,977 | €607,815 | -€13,162 | -2.1% |
| Stocks and contracts in progress | 3 | €254,162 | €305,324 | +€51,162 | +20.1% |
| Stocks | 30/36 | €212,162 | €211,074 | -€1,088 | -0.5% |
| Contracts in progress | 37 | €42,000 | €94,250 | +€52,250 | +124% |
| Amounts receivable within one year | 40/41 | €314,333 | €175,102 | -€139,230 | -44.3% |
| Trade receivables | 40 | €305,822 | €168,825 | -€136,996 | -44.8% |
| Other amounts receivable | 41 | €8,511 | €6,277 | -€2,234 | -26.2% |
| Cash at bank and in hand | 54/58 | €41,263 | €120,964 | +€79,701 | +193% |
| Deferred charges and accrued income | 490/1 | €11,220 | €6,425 | -€4,795 | -42.7% |
| Total equity and liabilities | 10/49 | €693,416 | €670,735 | -€22,681 | -3.3% |
| Equity | 10/15 | €172,753 | €256,054 | +€83,301 | +48.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €151,260 | €234,510 | +€83,250 | +55.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €149,400 | €234,510 | +€85,110 | +57.0% |
| Profit (loss) carried forward | 14 | €2,893 | €2,944 | +€51 | +1.8% |
| Amounts payable | 17/49 | €520,664 | €414,681 | -€105,983 | -20.4% |
| Amounts payable after more than one year | 17 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Financial debts | 170/4 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Amounts payable within one year | 42/48 | €470,940 | €373,879 | -€97,061 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €5,739 | €38 | -€5,701 | -99.3% |
| Credit institutions | 430/8 | €5,739 | €38 | -€5,701 | -99.3% |
| Trade debts | 44 | €223,325 | €160,819 | -€62,506 | -28.0% |
| Suppliers | 440/4 | €223,325 | €160,819 | -€62,506 | -28.0% |
| Advances received on contracts in progress | 46 | €300 | €0 | -€300 | -100% |
| Taxes, remuneration and social security | 45 | €69,453 | €40,139 | -€29,314 | -42.2% |
| Taxes | 450/3 | €52,083 | €15,006 | -€37,077 | -71.2% |
| Remuneration and social security | 454/9 | €17,369 | €25,133 | +€7,764 | +44.7% |
| Other amounts payable | 47/48 | €172,123 | €172,883 | +€760 | +0.4% |
| Accrued charges and deferred income | 492/3 | €19,724 | €20,802 | +€1,078 | +5.5% |
| Non-recurring operating income | 76A | - | €678 | +€678 | |
| Remuneration, social security and pensions | 62 | €166,009 | €211,142 | +€45,132 | +27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,044 | €26,370 | -€674 | -2.5% |
| Other operating charges | 640/8 | €1,643 | €2,122 | +€479 | +29.2% |
| Gross operating margin | 9900 | €305,522 | €365,884 | +€60,362 | +19.8% |
| Operating profit (loss) | 9901 | €110,826 | €126,251 | +€15,424 | +13.9% |
| Financial income | 75/76B | €1,253 | €1,086 | -€167 | -13.4% |
| Recurring financial income | 75 | €1,253 | €1,086 | -€167 | -13.4% |
| Financial charges | 65/66B | €4,003 | €4,590 | +€587 | +14.7% |
| Recurring financial charges | 65 | €4,003 | €4,590 | +€587 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €108,076 | €122,747 | +€14,670 | +13.6% |
| Income taxes | 67/77 | €34,719 | €39,445 | +€4,726 | +13.6% |
| Profit (loss) for the period | 9904 | €73,357 | €83,301 | +€9,944 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €73,357 | €83,301 | +€9,944 | +13.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.