DW CONSTRUCT: 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 CONSTRUCT
Largest movements
- Cash -€191,027
down €191,027 (-22.3%), from €858,201 to €667,174
mainly Trade debts (-€249,763) and Net result for the year (-€242,077)
- Tangible fixed assets -€159,905
down €159,905 (-62.3%), from €256,684 to €96,779
of which Land and buildings: -€147,665
- Trade debts -€249,763
down €249,763 (-98.8%), from €252,674 to €2,911
- Profit (loss) carried forward -€242,077
new in 2025: -€242,077
- Other debts +€225,262
up €225,262 (+224.8%), from €100,204 to €325,466
- Tax, wage and social debts -€50,324
down €50,324 (-82.7%), from €60,883 to €10,560
of which Taxes: -€50,546
- Debts after one year -€47,133
down €47,133 (-28.8%), from €163,860 to €116,727
- Gross operating margin -€226,821
down €226,821, from €166,576 to -€60,244
- Other operating charges -€35,207
down €35,207 (-76.8%), from €45,827 to €10,620
- Staff costs -€31,840
down €31,840 (-38.4%), from €82,871 to €51,031
- Financial charges -€18,238
down €18,238 (-61.5%), from €29,638 to €11,400
- Depreciation +€13,044
up €13,044 (+20.8%), from €62,760 to €75,803
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 | €1,192,000 | €834,565 | -€357,435 | -30.0% |
| Fixed assets | 21/28 | €263,450 | €103,181 | -€160,270 | -60.8% |
| Intangible fixed assets | 21 | €2,187 | €1,822 | -€364 | -16.7% |
| Tangible fixed assets | 22/27 | €256,684 | €96,779 | -€159,905 | -62.3% |
| Land and buildings | 22 | €217,600 | €69,935 | -€147,665 | -67.9% |
| Plant, machinery and equipment | 23 | €26,873 | €13,250 | -€13,623 | -50.7% |
| Furniture and vehicles | 24 | €12,210 | €13,593 | +€1,383 | +11.3% |
| Financial fixed assets | 28 | €4,580 | €4,580 | = | 0.0% |
| Current assets | 29/58 | €928,550 | €731,384 | -€197,166 | -21.2% |
| Amounts receivable within one year | 40/41 | €68,079 | €63,298 | -€4,781 | -7.0% |
| Trade receivables | 40 | €53,526 | €45,063 | -€8,463 | -15.8% |
| Other amounts receivable | 41 | €14,553 | €18,235 | +€3,682 | +25.3% |
| Cash at bank and in hand | 54/58 | €858,201 | €667,174 | -€191,027 | -22.3% |
| Deferred charges and accrued income | 490/1 | €2,270 | €912 | -€1,358 | -59.8% |
| Total equity and liabilities | 10/49 | €1,192,000 | €834,565 | -€357,435 | -30.0% |
| Equity | 10/15 | €552,243 | €310,166 | -€242,077 | -43.8% |
| Revaluation surpluses | 12 | €294,118 | €294,118 | = | 0.0% |
| Reserves | 13 | €258,126 | €258,126 | = | 0.0% |
| Distributable reserves | 133 | €258,126 | €258,126 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€242,077 | -€242,077 | |
| Amounts payable | 17/49 | €639,757 | €524,399 | -€115,358 | -18.0% |
| Amounts payable after more than one year | 17 | €163,860 | €116,727 | -€47,133 | -28.8% |
| Financial debts | 170/4 | €163,860 | €116,727 | -€47,133 | -28.8% |
| Amounts payable within one year | 42/48 | €475,897 | €407,672 | -€68,225 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €62,136 | €68,735 | +€6,600 | +10.6% |
| Trade debts | 44 | €252,674 | €2,911 | -€249,763 | -98.8% |
| Suppliers | 440/4 | €252,674 | €2,911 | -€249,763 | -98.8% |
| Taxes, remuneration and social security | 45 | €60,883 | €10,560 | -€50,324 | -82.7% |
| Taxes | 450/3 | €60,883 | €10,338 | -€50,546 | -83.0% |
| Remuneration and social security | 454/9 | - | €222 | +€222 | |
| Other amounts payable | 47/48 | €100,204 | €325,466 | +€225,262 | +224.8% |
| Non-recurring operating income | 76A | €8,570 | - | -€8,570 | |
| Remuneration, social security and pensions | 62 | €82,871 | €51,031 | -€31,840 | -38.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,760 | €75,803 | +€13,044 | +20.8% |
| Other operating charges | 640/8 | €45,827 | €10,620 | -€35,207 | -76.8% |
| Non-recurring operating charges | 66A | €1,744 | €29,605 | +€27,861 | +1597.7% |
| Gross operating margin | 9900 | €166,576 | -€60,244 | -€226,821 | |
| Operating profit (loss) | 9901 | -€26,625 | -€227,303 | -€200,678 | -753.7% |
| Financial income | 75/76B | €3,852 | €632 | -€3,220 | -83.6% |
| Recurring financial income | 75 | €3,852 | €632 | -€3,220 | -83.6% |
| Financial charges | 65/66B | €29,638 | €11,400 | -€18,238 | -61.5% |
| Recurring financial charges | 65 | €29,638 | €11,400 | -€18,238 | -61.5% |
| Profit (loss) for the period before taxes | 9903 | -€52,411 | -€238,071 | -€185,660 | -354.2% |
| Income taxes | 67/77 | €575 | €4,007 | +€3,431 | +596.3% |
| Profit (loss) for the period | 9904 | -€52,986 | -€242,077 | -€189,091 | -356.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,986 | -€242,077 | -€189,091 | -356.9% |
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 11 October 2026 via checked.be.