DW LEX: 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 LEX
Largest movements
- Receivables within one year +€16,988
up €16,988 (+72.8%), from €23,328 to €40,316
of which Trade receivables: +€20,743
- Cash -€14,199
down €14,199 (-3.3%), from €434,129 to €419,930
mainly Other debts (-€72,025) and Contributions, distributions and other (-€30,000)
- Reserves +€87,997
up €87,997 (+30.0%), from €293,648 to €381,644
- Other debts -€72,025
down €72,025 (-59.6%), from €120,818 to €48,794
- Tax, wage and social debts -€5,517
down €5,517 (-33.5%), from €16,467 to €10,951
of which Remuneration and social security: -€5,365
- Gross operating margin -€9,737
down €9,737 (-4.8%), from €202,562 to €192,825
- Taxes +€5,686
up €5,686 (+14.2%), from €40,072 to €45,758
- Staff costs -€5,549
down €5,549 (-13.6%), from €40,672 to €35,123
- Financial charges -€2,419
down €2,419, from €1,834 to -€585
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 | €460,971 | €464,484 | +€3,512 | +0.8% |
| Fixed assets | 21/28 | €37 | €1,070 | +€1,033 | +2789.1% |
| Tangible fixed assets | 22/27 | €37 | €1,070 | +€1,033 | +2789.1% |
| Furniture and vehicles | 24 | €37 | €1,070 | +€1,033 | +2789.1% |
| Current assets | 29/58 | €460,934 | €463,414 | +€2,479 | +0.5% |
| Amounts receivable within one year | 40/41 | €23,328 | €40,316 | +€16,988 | +72.8% |
| Trade receivables | 40 | €18,227 | €38,970 | +€20,743 | +113.8% |
| Other amounts receivable | 41 | €5,101 | €1,346 | -€3,755 | -73.6% |
| Cash at bank and in hand | 54/58 | €434,129 | €419,930 | -€14,199 | -3.3% |
| Deferred charges and accrued income | 490/1 | €3,477 | €3,167 | -€310 | -8.9% |
| Total equity and liabilities | 10/49 | €460,971 | €464,484 | +€3,512 | +0.8% |
| Equity | 10/15 | €298,836 | €386,833 | +€87,997 | +29.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €293,648 | €381,644 | +€87,997 | +30.0% |
| Distributable reserves | 133 | €293,648 | €381,644 | +€87,997 | +30.0% |
| Profit (loss) carried forward | 14 | €189 | €189 | = | 0.0% |
| Amounts payable | 17/49 | €162,135 | €77,650 | -€84,485 | -52.1% |
| Amounts payable within one year | 42/48 | €159,430 | €77,123 | -€82,307 | -51.6% |
| Trade debts | 44 | €3,288 | €1,784 | -€1,504 | -45.8% |
| Suppliers | 440/4 | €3,288 | €1,784 | -€1,504 | -45.8% |
| Advances received on contracts in progress | 46 | €18,857 | €15,595 | -€3,262 | -17.3% |
| Taxes, remuneration and social security | 45 | €16,467 | €10,951 | -€5,517 | -33.5% |
| Taxes | 450/3 | €11,102 | €10,951 | -€152 | -1.4% |
| Remuneration and social security | 454/9 | €5,365 | - | -€5,365 | |
| Other amounts payable | 47/48 | €120,818 | €48,794 | -€72,025 | -59.6% |
| Accrued charges and deferred income | 492/3 | €2,705 | €528 | -€2,177 | -80.5% |
| Remuneration, social security and pensions | 62 | €40,672 | €35,123 | -€5,549 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €294 | €78 | -€216 | -73.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €730 | +€730 | |
| Other operating charges | 640/8 | €2,573 | €1,132 | -€1,442 | -56.0% |
| Gross operating margin | 9900 | €202,562 | €192,825 | -€9,737 | -4.8% |
| Operating profit (loss) | 9901 | €159,023 | €155,763 | -€3,260 | -2.0% |
| Financial income | 75/76B | €8,002 | €7,406 | -€596 | -7.4% |
| Recurring financial income | 75 | €8,002 | €7,406 | -€596 | -7.4% |
| Financial charges | 65/66B | €1,834 | -€585 | -€2,419 | |
| Recurring financial charges | 65 | €1,834 | -€585 | -€2,419 | |
| Profit (loss) for the period before taxes | 9903 | €165,192 | €163,755 | -€1,437 | -0.9% |
| Income taxes | 67/77 | €40,072 | €45,758 | +€5,686 | +14.2% |
| Profit (loss) for the period | 9904 | €125,120 | €117,997 | -€7,123 | -5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €125,120 | €117,997 | -€7,123 | -5.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.