DW-I: 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-I
Largest movements
- Receivables within one year +€36,093
up €36,093 (+173%), from €20,815 to €56,908
of which Other amounts receivable: +€29,631
- Tangible fixed assets +€17,115
up €17,115 (+93.5%), from €18,309 to €35,424
of which Leasing and similar rights: +€11,970
- Cash -€11,712
down €11,712 (-90.3%), from €12,965 to €1,253
mainly Receivables within one year (-€36,093) and Investment in fixed assets (net) (-€20,358)
- Deferred charges and accrued income -€8,435
down €8,435 (-88.1%), from €9,579 to €1,144
- Reserves +€36,199
up €36,199 (+177%), from €20,426 to €56,625
- Current portion of long-term debt -€11,728
down €11,728 (-86.9%), from €13,500 to €1,772
- Trade debts -€9,965
down €9,965 (-90.7%), from €10,985 to €1,019
- Debts after one year +€9,745
new in 2025: €9,745
- Tax, wage and social debts +€8,810
up €8,810 (+64.0%), from €13,758 to €22,568
- Gross operating margin +€29,813
up €29,813 (+105%), from €28,332 to €58,145
- Taxes +€6,182
up €6,182 (+106%), from €5,820 to €12,002
- Financial charges +€3,320
up €3,320 (+259%), from €1,283 to €4,604
- Depreciation +€3,010
up €3,010 (+1,293%), from €233 to €3,243
- Other operating charges +€2,021
up €2,021 (+355%), from €570 to €2,591
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.
Derived cash bridge
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 | €61,668 | €94,729 | +€33,061 | +53.6% |
| Fixed assets | 21/28 | €18,309 | €35,424 | +€17,115 | +93.5% |
| Tangible fixed assets | 22/27 | €18,309 | €35,424 | +€17,115 | +93.5% |
| Furniture and vehicles | 24 | - | €2,557 | +€2,557 | |
| Leasing and similar rights | 25 | - | €11,970 | +€11,970 | |
| Other tangible fixed assets | 26 | €18,309 | €20,897 | +€2,588 | +14.1% |
| Current assets | 29/58 | €43,359 | €59,305 | +€15,946 | +36.8% |
| Amounts receivable within one year | 40/41 | €20,815 | €56,908 | +€36,093 | +173% |
| Trade receivables | 40 | €17,255 | €23,716 | +€6,462 | +37.4% |
| Other amounts receivable | 41 | €3,561 | €33,192 | +€29,631 | +832% |
| Cash at bank and in hand | 54/58 | €12,965 | €1,253 | -€11,712 | -90.3% |
| Deferred charges and accrued income | 490/1 | €9,579 | €1,144 | -€8,435 | -88.1% |
| Total equity and liabilities | 10/49 | €61,668 | €94,729 | +€33,061 | +53.6% |
| Equity | 10/15 | €23,426 | €59,625 | +€36,199 | +155% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €20,426 | €56,625 | +€36,199 | +177% |
| Distributable reserves | 133 | €20,426 | €56,625 | +€36,199 | +177% |
| Amounts payable | 17/49 | €38,242 | €35,104 | -€3,138 | -8.2% |
| Amounts payable after more than one year | 17 | - | €9,745 | +€9,745 | |
| Financial debts | 170/4 | - | €9,745 | +€9,745 | |
| Amounts payable within one year | 42/48 | €38,242 | €25,359 | -€12,884 | -33.7% |
| Current portion of amounts payable after more than one year | 42 | €13,500 | €1,772 | -€11,728 | -86.9% |
| Trade debts | 44 | €10,985 | €1,019 | -€9,965 | -90.7% |
| Suppliers | 440/4 | €10,985 | €1,019 | -€9,965 | -90.7% |
| Taxes, remuneration and social security | 45 | €13,758 | €22,568 | +€8,810 | +64.0% |
| Taxes | 450/3 | €13,758 | €22,568 | +€8,810 | +64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €233 | €3,243 | +€3,010 | +1,293% |
| Other operating charges | 640/8 | €570 | €2,591 | +€2,021 | +355% |
| Gross operating margin | 9900 | €28,332 | €58,145 | +€29,813 | +105% |
| Operating profit (loss) | 9901 | €27,530 | €52,312 | +€24,781 | +90.0% |
| Financial income | 75/76B | €0 | €494 | +€494 | +4,935,500% |
| Recurring financial income | 75 | €0 | €494 | +€494 | +4,935,500% |
| Financial charges | 65/66B | €1,283 | €4,604 | +€3,320 | +259% |
| Recurring financial charges | 65 | €1,283 | €4,604 | +€3,320 | +259% |
| Profit (loss) for the period before taxes | 9903 | €26,247 | €48,201 | +€21,955 | +83.6% |
| Income taxes | 67/77 | €5,820 | €12,002 | +€6,182 | +106% |
| Profit (loss) for the period | 9904 | €20,426 | €36,199 | +€15,773 | +77.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,426 | €36,199 | +€15,773 | +77.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.