DW ADVIES: 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.
DW ADVIES
Largest movements
- Deferred charges and accrued income -€51,029
down €51,029 (-95.9%), from €53,193 to €2,164
- Cash +€48,392
up €48,392 (+26.5%), from €182,632 to €231,024
mainly Net result for the year (+€110,814) and Deferred charges and accrued income (+€51,029)
- Tangible fixed assets -€11,341
down €11,341 (-20.4%), from €55,518 to €44,177
of which Furniture and vehicles: -€7,928
- Receivables within one year -€10,513
down €10,513 (-16.2%), from €64,764 to €54,251
of which Trade receivables: -€14,465
- Other debts -€141,430
down €141,430 (-70.0%), from €202,069 to €60,639
- Reserves +€110,814
up €110,814 (+99.0%), from €111,893 to €222,707
- Tax, wage and social debts +€4,710
up €4,710 (+13.4%), from €35,094 to €39,804
- Gross operating margin -€3,645
down €3,645 (-2.1%), from €175,483 to €171,839
- Taxes -€2,795
down €2,795 (-5.7%), from €48,864 to €46,069
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 | €356,107 | €331,616 | -€24,491 | -6.9% |
| Fixed assets | 21/28 | €55,518 | €44,177 | -€11,341 | -20.4% |
| Tangible fixed assets | 22/27 | €55,518 | €44,177 | -€11,341 | -20.4% |
| Plant, machinery and equipment | 23 | €932 | €692 | -€240 | -25.7% |
| Furniture and vehicles | 24 | €44,598 | €36,670 | -€7,928 | -17.8% |
| Other tangible fixed assets | 26 | €9,988 | €6,815 | -€3,173 | -31.8% |
| Current assets | 29/58 | €300,589 | €287,439 | -€13,150 | -4.4% |
| Amounts receivable within one year | 40/41 | €64,764 | €54,251 | -€10,513 | -16.2% |
| Trade receivables | 40 | €64,764 | €50,299 | -€14,465 | -22.3% |
| Other amounts receivable | 41 | - | €3,951 | +€3,951 | |
| Cash at bank and in hand | 54/58 | €182,632 | €231,024 | +€48,392 | +26.5% |
| Deferred charges and accrued income | 490/1 | €53,193 | €2,164 | -€51,029 | -95.9% |
| Total equity and liabilities | 10/49 | €356,107 | €331,616 | -€24,491 | -6.9% |
| Equity | 10/15 | €112,893 | €223,707 | +€110,814 | +98.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €111,893 | €222,707 | +€110,814 | +99.0% |
| Distributable reserves | 133 | €111,893 | €222,707 | +€110,814 | +99.0% |
| Amounts payable | 17/49 | €243,215 | €107,909 | -€135,305 | -55.6% |
| Amounts payable within one year | 42/48 | €243,215 | €107,909 | -€135,305 | -55.6% |
| Trade debts | 44 | €6,051 | €7,466 | +€1,414 | +23.4% |
| Suppliers | 440/4 | €6,051 | €7,466 | +€1,414 | +23.4% |
| Taxes, remuneration and social security | 45 | €35,094 | €39,804 | +€4,710 | +13.4% |
| Taxes | 450/3 | €35,094 | €39,804 | +€4,710 | +13.4% |
| Other amounts payable | 47/48 | €202,069 | €60,639 | -€141,430 | -70.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,601 | €13,710 | +€108 | +0.8% |
| Other operating charges | 640/8 | €971 | €1,078 | +€107 | +11.0% |
| Gross operating margin | 9900 | €175,483 | €171,839 | -€3,645 | -2.1% |
| Operating profit (loss) | 9901 | €160,911 | €157,052 | -€3,860 | -2.4% |
| Financial income | 75/76B | €4 | €0 | -€4 | -99.7% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -99.7% |
| Financial charges | 65/66B | €158 | €168 | +€10 | +6.4% |
| Recurring financial charges | 65 | €158 | €168 | +€10 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €160,757 | €156,883 | -€3,874 | -2.4% |
| Income taxes | 67/77 | €48,864 | €46,069 | -€2,795 | -5.7% |
| Profit (loss) for the period | 9904 | €111,893 | €110,814 | -€1,078 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €111,893 | €110,814 | -€1,078 | -1.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.