DW CONSULT: what changed
Two fiscal 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 CONSULT
Largest movements
- Cash -€62,488
down €62,488 (-79.3%), from €78,815 to €16,327
mainly Current investments (-€52,000) and Receivables within one year (-€11,753)
- Current investments +€52,000
new in 2025: €52,000
- Receivables within one year +€11,753
up €11,753 (+11.8%), from €99,553 to €111,306
of which Other amounts receivable: +€21,763
- Tangible fixed assets -€5,204
down €5,204 (-1.9%), from €272,348 to €267,144
of which Land and buildings: -€3,327
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€7,961
down €7,961 (-36.7%), from €21,696 to €13,735
- Other operating charges +€4,838
up €4,838 (+124.1%), from €3,898 to €8,737
- Taxes -€2,273
down €2,273 (-34.9%), from €6,507 to €4,234
- Depreciation -€382
down €382 (-3.8%), from €10,105 to €9,723
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 | €518,104 | €513,532 | -€4,572 | -0.9% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €272,348 | €267,144 | -€5,204 | -1.9% |
| Tangible fixed assets | 22/27 | €272,348 | €267,144 | -€5,204 | -1.9% |
| Land and buildings | 22 | €261,822 | €258,495 | -€3,327 | -1.3% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €711 | €37 | -€674 | -94.8% |
| Other tangible fixed assets | 26 | €9,814 | €8,611 | -€1,203 | -12.3% |
| Current assets | 29/58 | €245,756 | €246,388 | +€632 | +0.3% |
| Amounts receivable after more than one year | 29 | €65,800 | €65,800 | = | 0.0% |
| Trade receivables | 290 | €65,800 | €65,800 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €99,553 | €111,306 | +€11,753 | +11.8% |
| Trade receivables | 40 | €10,011 | - | -€10,011 | |
| Other amounts receivable | 41 | €89,543 | €111,306 | +€21,763 | +24.3% |
| Current investments | 50/53 | - | €52,000 | +€52,000 | |
| Cash at bank and in hand | 54/58 | €78,815 | €16,327 | -€62,488 | -79.3% |
| Deferred charges and accrued income | 490/1 | €1,588 | €955 | -€633 | -39.9% |
| Total equity and liabilities | 10/49 | €518,104 | €513,532 | -€4,572 | -0.9% |
| Equity | 10/15 | €507,071 | €503,570 | -€3,501 | -0.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €20,386 | €19,557 | -€830 | -4.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Own shares acquired | 1312 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €18,526 | €17,697 | -€830 | -4.5% |
| Profit (loss) carried forward | 14 | €479,685 | €477,014 | -€2,671 | -0.6% |
| Provisions and deferred taxes | 16 | €9,540 | €9,112 | -€427 | -4.5% |
| Deferred taxes | 168 | €9,540 | €9,112 | -€427 | -4.5% |
| Amounts payable | 17/49 | €1,493 | €849 | -€644 | -43.1% |
| Amounts payable within one year | 42/48 | €1,493 | €849 | -€644 | -43.1% |
| Trade debts | 44 | €1,493 | €849 | -€644 | -43.1% |
| Suppliers | 440/4 | €1,493 | €849 | -€644 | -43.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,105 | €9,723 | -€382 | -3.8% |
| Other operating charges | 640/8 | €3,898 | €8,737 | +€4,838 | +124.1% |
| Gross operating margin | 9900 | €21,696 | €13,735 | -€7,961 | -36.7% |
| Operating profit (loss) | 9901 | €7,693 | -€4,725 | -€12,418 | |
| Financial income | 75/76B | €4,987 | €5,129 | +€141 | +2.8% |
| Recurring financial income | 75 | €4,987 | €5,129 | +€141 | +2.8% |
| Financial charges | 65/66B | €135 | €98 | -€37 | -27.5% |
| Recurring financial charges | 65 | €135 | €98 | -€37 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €12,545 | €306 | -€12,239 | -97.6% |
| Transfer from deferred taxes | 780 | €427 | €427 | = | 0.0% |
| Income taxes | 67/77 | €6,507 | €4,234 | -€2,273 | -34.9% |
| Profit (loss) for the period | 9904 | €6,465 | -€3,501 | -€9,966 | |
| Transfer from tax-exempt reserves | 789 | €830 | €830 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,295 | -€2,671 | -€9,966 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.