DW en Partners: what changed
DW en Partners
Largest movements
- Cash -€375,969
down €375,969 (-83.8%), from €448,559 to €72,590
mainly Contributions, distributions and other (-€437,298) and Tax, wage and social debts (-€47,264)
- Receivables within one year -€50,845
down €50,845 (-85.4%), from €59,539 to €8,695
of which Trade receivables: -€45,228
- Deferred charges and accrued income +€7,143
up €7,143 (+67.6%), from €10,562 to €17,705
- Reserves -€189,013
no longer reported in 2025 (was €189,013)
of which Distributable reserves: -€186,534
- Profit (loss) carried forward -€165,117
no longer reported in 2025 (was €165,117)
- Tax, wage and social debts -€47,264
down €47,264 (-58.7%), from €80,462 to €33,198
of which Remuneration and social security: -€50,343
- Other debts +€35,646
new in 2025: €35,646
- Trade debts -€28,096
down €28,096 (-62.1%), from €45,214 to €17,119
- Staff costs -€252,728
down €252,728 (-46.9%), from €539,044 to €286,316
- Gross operating margin -€217,912
down €217,912 (-35.6%), from €611,758 to €393,845
- Taxes +€19,264
up €19,264 (+192,639,800%), from €0 to €19,264
- Financial income -€7,047
down €7,047 (-79.3%), from €8,888 to €1,841
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 | €559,574 | €142,045 | -€417,529 | -74.6% |
| Fixed assets | 21/28 | €40,913 | €43,055 | +€2,142 | +5.2% |
| Tangible fixed assets | 22/27 | €36,986 | €41,328 | +€4,342 | +11.7% |
| Plant, machinery and equipment | 23 | €2,256 | €1,194 | -€1,062 | -47.1% |
| Furniture and vehicles | 24 | €34,731 | €40,134 | +€5,404 | +15.6% |
| Financial fixed assets | 28 | €3,926 | €1,727 | -€2,199 | -56.0% |
| Current assets | 29/58 | €518,661 | €98,990 | -€419,671 | -80.9% |
| Amounts receivable within one year | 40/41 | €59,539 | €8,695 | -€50,845 | -85.4% |
| Trade receivables | 40 | €53,923 | €8,695 | -€45,228 | -83.9% |
| Other amounts receivable | 41 | €5,617 | - | -€5,617 | |
| Cash at bank and in hand | 54/58 | €448,559 | €72,590 | -€375,969 | -83.8% |
| Deferred charges and accrued income | 490/1 | €10,562 | €17,705 | +€7,143 | +67.6% |
| Total equity and liabilities | 10/49 | €559,574 | €142,045 | -€417,529 | -74.6% |
| Equity | 10/15 | €378,919 | €2,000 | -€376,919 | -99.5% |
| Contributions | 10/11 | €24,789 | €2,000 | -€22,789 | -91.9% |
| Reserves | 13 | €189,013 | - | -€189,013 | |
| Non-distributable reserves | 130/1 | €2,479 | - | -€2,479 | |
| Reserves not available under the articles | 1311 | €2,479 | - | -€2,479 | |
| Distributable reserves | 133 | €186,534 | - | -€186,534 | |
| Profit (loss) carried forward | 14 | €165,117 | - | -€165,117 | |
| Amounts payable | 17/49 | €180,654 | €140,045 | -€40,610 | -22.5% |
| Amounts payable after more than one year | 17 | €13,493 | €15,051 | +€1,558 | +11.5% |
| Financial debts | 170/4 | €13,493 | €15,051 | +€1,558 | +11.5% |
| Amounts payable within one year | 42/48 | €167,161 | €124,994 | -€42,167 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €41,484 | €39,031 | -€2,453 | -5.9% |
| Trade debts | 44 | €45,214 | €17,119 | -€28,096 | -62.1% |
| Suppliers | 440/4 | €45,214 | €17,119 | -€28,096 | -62.1% |
| Taxes, remuneration and social security | 45 | €80,462 | €33,198 | -€47,264 | -58.7% |
| Taxes | 450/3 | €2,260 | €5,339 | +€3,079 | +136% |
| Remuneration and social security | 454/9 | €78,203 | €27,860 | -€50,343 | -64.4% |
| Other amounts payable | 47/48 | - | €35,646 | +€35,646 | |
| Non-recurring operating income | 76A | - | €1,000 | +€1,000 | |
| Remuneration, social security and pensions | 62 | €539,044 | €286,316 | -€252,728 | -46.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,573 | €24,534 | -€4,038 | -14.1% |
| Other operating charges | 640/8 | €6,630 | €2,147 | -€4,483 | -67.6% |
| Non-recurring operating charges | 66A | €38,424 | - | -€38,424 | |
| Gross operating margin | 9900 | €611,758 | €393,845 | -€217,912 | -35.6% |
| Operating profit (loss) | 9901 | -€912 | €80,848 | +€81,760 | |
| Financial income | 75/76B | €8,888 | €1,841 | -€7,047 | -79.3% |
| Recurring financial income | 75 | €8,888 | €1,841 | -€7,047 | -79.3% |
| Financial charges | 65/66B | €3,059 | €3,046 | -€13 | -0.4% |
| Recurring financial charges | 65 | €3,059 | €3,046 | -€13 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €4,917 | €79,642 | +€74,726 | +1,520% |
| Income taxes | 67/77 | €0 | €19,264 | +€19,264 | +192,639,800% |
| Profit (loss) for the period | 9904 | €4,917 | €60,378 | +€55,462 | +1,128% |
| Transfer from tax-exempt reserves | 789 | €141,041 | - | -€141,041 | |
| Profit (loss) for the period to be appropriated | 9905 | €145,958 | €60,378 | -€85,580 | -58.6% |
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 8 November 2026 via checked.be.