DW DEVELOPMENT: 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 DEVELOPMENT
Largest movements
- Tangible fixed assets -€12,896
down €12,896 (-4.5%), from €284,791 to €271,895
of which Land and buildings: -€12,628
- Cash +€4,187
up €4,187 (+139.0%), from €3,012 to €7,198
mainly Depreciation (+€12,896) and Other debts (+€9,557)
- Profit (loss) carried forward -€15,658
down €15,658 (-42.8%), from -€36,559 to -€52,217
- Other debts +€9,557
up €9,557 (+277.6%), from €3,443 to €13,000
- Debts after one year -€4,557
down €4,557 (-1.5%), from €310,264 to €305,707
- Gross operating margin +€9,319
up €9,319 (+92.4%), from -€10,091 to -€772
- Depreciation +€8,686
up €8,686 (+206.4%), from €4,209 to €12,896
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 | €287,828 | €279,145 | -€8,682 | -3.0% |
| Fixed assets | 21/28 | €284,791 | €271,895 | -€12,896 | -4.5% |
| Tangible fixed assets | 22/27 | €284,791 | €271,895 | -€12,896 | -4.5% |
| Land and buildings | 22 | €284,235 | €271,607 | -€12,628 | -4.4% |
| Furniture and vehicles | 24 | €555 | €288 | -€267 | -48.1% |
| Current assets | 29/58 | €3,037 | €7,250 | +€4,214 | +138.8% |
| Cash at bank and in hand | 54/58 | €3,012 | €7,198 | +€4,187 | +139.0% |
| Deferred charges and accrued income | 490/1 | €25 | €52 | +€27 | +107.4% |
| Total equity and liabilities | 10/49 | €287,828 | €279,145 | -€8,682 | -3.0% |
| Equity | 10/15 | -€26,559 | -€42,217 | -€15,658 | -59.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,559 | -€52,217 | -€15,658 | -42.8% |
| Amounts payable | 17/49 | €314,387 | €321,362 | +€6,976 | +2.2% |
| Amounts payable after more than one year | 17 | €310,264 | €305,707 | -€4,557 | -1.5% |
| Other amounts payable | 178/9 | €310,264 | €305,707 | -€4,557 | -1.5% |
| Amounts payable within one year | 42/48 | €4,123 | €13,835 | +€9,713 | +235.6% |
| Trade debts | 44 | €680 | €835 | +€156 | +22.9% |
| Suppliers | 440/4 | €680 | €835 | +€156 | +22.9% |
| Other amounts payable | 47/48 | €3,443 | €13,000 | +€9,557 | +277.6% |
| Accrued charges and deferred income | 492/3 | - | €1,820 | +€1,820 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,209 | €12,896 | +€8,686 | +206.4% |
| Other operating charges | 640/8 | €1,741 | €1,820 | +€79 | +4.5% |
| Gross operating margin | 9900 | -€10,091 | -€772 | +€9,319 | +92.4% |
| Operating profit (loss) | 9901 | -€16,042 | -€15,488 | +€554 | +3.5% |
| Financial charges | 65/66B | €141 | €170 | +€30 | +21.2% |
| Recurring financial charges | 65 | €141 | €170 | +€30 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | -€16,182 | -€15,658 | +€524 | +3.2% |
| Profit (loss) for the period | 9904 | -€16,182 | -€15,658 | +€524 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,182 | -€15,658 | +€524 | +3.2% |
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 3 October 2026 via checked.be.