DW Invest: 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 Invest
Largest movements
- Tangible fixed assets +€17,808
up €17,808 (+326%), from €5,463 to €23,271
of which Plant, machinery and equipment: +€15,983
- Receivables within one year +€8,302
up €8,302 (+65.9%), from €12,608 to €20,910
of which Trade receivables: +€16,632
- Cash -€5,670
down €5,670 (-62.2%), from €9,122 to €3,452
mainly Investment in fixed assets (net) (-€23,550) and Trade debts (-€13,771)
- Intangible fixed assets +€2,373
new in 2025: €2,373
- Other debts +€30,647
new in 2025: €30,647
- Profit (loss) carried forward +€15,158
up €15,158 (+21.6%), from -€70,037 to -€54,879
- Trade debts -€13,771
down €13,771 (-46.8%), from €29,394 to €15,623
- Tax, wage and social debts -€9,076
down €9,076 (-26.9%), from €33,690 to €24,614
of which Remuneration and social security: -€15,869
- Staff costs -€96,264
down €96,264 (-71.3%), from €135,009 to €38,745
- Gross operating margin -€7,565
down €7,565 (-11.3%), from €66,994 to €59,429
- Depreciation +€2,424
up €2,424 (+256%), from €945 to €3,369
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 | €27,192 | €50,005 | +€22,813 | +83.9% |
| Fixed assets | 21/28 | €5,463 | €25,643 | +€20,181 | +369% |
| Intangible fixed assets | 21 | - | €2,373 | +€2,373 | |
| Tangible fixed assets | 22/27 | €5,463 | €23,271 | +€17,808 | +326% |
| Land and buildings | 22 | - | €1,373 | +€1,373 | |
| Plant, machinery and equipment | 23 | €2,697 | €18,680 | +€15,983 | +593% |
| Furniture and vehicles | 24 | €2,766 | €3,218 | +€453 | +16.4% |
| Current assets | 29/58 | €21,729 | €24,362 | +€2,633 | +12.1% |
| Amounts receivable within one year | 40/41 | €12,608 | €20,910 | +€8,302 | +65.9% |
| Trade receivables | 40 | €4,279 | €20,910 | +€16,632 | +389% |
| Other amounts receivable | 41 | €8,329 | - | -€8,329 | |
| Cash at bank and in hand | 54/58 | €9,122 | €3,452 | -€5,670 | -62.2% |
| Total equity and liabilities | 10/49 | €27,192 | €50,005 | +€22,813 | +83.9% |
| Equity | 10/15 | -€36,037 | -€20,879 | +€15,158 | +42.1% |
| Contributions | 10/11 | €34,000 | €34,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,037 | -€54,879 | +€15,158 | +21.6% |
| Amounts payable | 17/49 | €63,229 | €70,884 | +€7,655 | +12.1% |
| Amounts payable within one year | 42/48 | €63,229 | €70,884 | +€7,655 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €145 | - | -€145 | |
| Trade debts | 44 | €29,394 | €15,623 | -€13,771 | -46.8% |
| Suppliers | 440/4 | €29,394 | €15,623 | -€13,771 | -46.8% |
| Taxes, remuneration and social security | 45 | €33,690 | €24,614 | -€9,076 | -26.9% |
| Taxes | 450/3 | €12,184 | €18,976 | +€6,792 | +55.7% |
| Remuneration and social security | 454/9 | €21,506 | €5,638 | -€15,869 | -73.8% |
| Other amounts payable | 47/48 | - | €30,647 | +€30,647 | |
| Remuneration, social security and pensions | 62 | €135,009 | €38,745 | -€96,264 | -71.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €945 | €3,369 | +€2,424 | +256% |
| Other operating charges | 640/8 | €1,095 | €1,226 | +€131 | +12.0% |
| Gross operating margin | 9900 | €66,994 | €59,429 | -€7,565 | -11.3% |
| Operating profit (loss) | 9901 | -€70,056 | €16,088 | +€86,144 | |
| Financial income | 75/76B | €283 | €105 | -€177 | -62.8% |
| Recurring financial income | 75 | €283 | €105 | -€177 | -62.8% |
| Financial charges | 65/66B | €264 | €903 | +€640 | +243% |
| Recurring financial charges | 65 | €264 | €903 | +€640 | +243% |
| Profit (loss) for the period before taxes | 9903 | -€70,037 | €15,290 | +€85,327 | |
| Income taxes | 67/77 | - | €132 | +€132 | |
| Profit (loss) for the period | 9904 | -€70,037 | €15,158 | +€85,195 | |
| Profit (loss) for the period to be appropriated | 9905 | -€70,037 | €15,158 | +€85,195 |
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 22 October 2026 via checked.be.