DW Build: what changed
DW Build
Largest movements
- Receivables within one year -€51,344
down €51,344 (-57.1%), from €89,951 to €38,608
of which Trade receivables: -€51,329
- Cash -€7,852
down €7,852 (-13.5%), from €58,331 to €50,480
mainly Trade debts (-€70,539) and Debts after one year (-€6,057)
- Tangible fixed assets -€5,101
down €5,101 (-23.9%), from €21,324 to €16,224
of which Plant, machinery and equipment: -€3,393
- Financial fixed assets +€3,600
up €3,600 (+146%), from €2,460 to €6,060
- Trade debts -€70,539
down €70,539 (-63.0%), from €112,002 to €41,463
- Profit (loss) carried forward +€10,337
up €10,337 (+71.8%), from €14,398 to €24,735
- Debts after one year -€6,057
down €6,057 (-34.9%), from €17,349 to €11,292
- Other debts +€3,251
up €3,251, from €0 to €3,251
- Gross operating margin +€81,172
up €81,172 (+93.2%), from €87,096 to €168,268
- Staff costs +€39,234
up €39,234 (+38.7%), from €101,303 to €140,537
- Financial charges +€7,919
up €7,919 (+168%), from €4,709 to €12,629
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €174,025 | €113,222 | -€60,803 | -34.9% |
| Fixed assets | 21/28 | €23,784 | €22,284 | -€1,501 | -6.3% |
| Tangible fixed assets | 22/27 | €21,324 | €16,224 | -€5,101 | -23.9% |
| Plant, machinery and equipment | 23 | €14,848 | €11,455 | -€3,393 | -22.9% |
| Furniture and vehicles | 24 | €6,476 | €4,769 | -€1,708 | -26.4% |
| Financial fixed assets | 28 | €2,460 | €6,060 | +€3,600 | +146% |
| Current assets | 29/58 | €150,241 | €90,938 | -€59,303 | -39.5% |
| Amounts receivable within one year | 40/41 | €89,951 | €38,608 | -€51,344 | -57.1% |
| Trade receivables | 40 | €79,033 | €27,704 | -€51,329 | -64.9% |
| Other amounts receivable | 41 | €10,918 | €10,903 | -€15 | -0.1% |
| Cash at bank and in hand | 54/58 | €58,331 | €50,480 | -€7,852 | -13.5% |
| Deferred charges and accrued income | 490/1 | €1,958 | €1,851 | -€107 | -5.5% |
| Total equity and liabilities | 10/49 | €174,025 | €113,222 | -€60,803 | -34.9% |
| Equity | 10/15 | €24,398 | €34,735 | +€10,337 | +42.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,398 | €24,735 | +€10,337 | +71.8% |
| Amounts payable | 17/49 | €149,627 | €78,487 | -€71,140 | -47.5% |
| Amounts payable after more than one year | 17 | €17,349 | €11,292 | -€6,057 | -34.9% |
| Financial debts | 170/4 | €17,349 | €11,292 | -€6,057 | -34.9% |
| Amounts payable within one year | 42/48 | €132,278 | €67,195 | -€65,083 | -49.2% |
| Current portion of amounts payable after more than one year | 42 | €8,785 | €9,480 | +€695 | +7.9% |
| Financial debts | 43 | - | €87 | +€87 | |
| Credit institutions | 430/8 | - | €87 | +€87 | |
| Trade debts | 44 | €112,002 | €41,463 | -€70,539 | -63.0% |
| Suppliers | 440/4 | €112,002 | €41,463 | -€70,539 | -63.0% |
| Taxes, remuneration and social security | 45 | €11,492 | €12,914 | +€1,423 | +12.4% |
| Taxes | 450/3 | €206 | €12,539 | +€12,333 | +5,975% |
| Remuneration and social security | 454/9 | €11,285 | €375 | -€10,910 | -96.7% |
| Other amounts payable | 47/48 | €0 | €3,251 | +€3,251 | |
| Remuneration, social security and pensions | 62 | €101,303 | €140,537 | +€39,234 | +38.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,451 | €5,101 | +€650 | +14.6% |
| Other operating charges | 640/8 | €3,262 | €1,779 | -€1,483 | -45.5% |
| Gross operating margin | 9900 | €87,096 | €168,268 | +€81,172 | +93.2% |
| Operating profit (loss) | 9901 | -€21,919 | €20,851 | +€42,770 | |
| Financial income | 75/76B | €1,662 | €2,114 | +€452 | +27.2% |
| Recurring financial income | 75 | €1,662 | €2,114 | +€452 | +27.2% |
| Financial charges | 65/66B | €4,709 | €12,629 | +€7,919 | +168% |
| Recurring financial charges | 65 | €4,709 | €12,629 | +€7,919 | +168% |
| Profit (loss) for the period before taxes | 9903 | -€24,967 | €10,337 | +€35,303 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€24,967 | €10,337 | +€35,303 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,967 | €10,337 | +€35,303 |
Next steps
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 7 November 2026 via checked.be.