DW Projects: 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 Projects
Largest movements
- Receivables within one year -€272,832
down €272,832 (-52.0%), from €524,711 to €251,879
of which Trade receivables: -€167,600
- Deferred charges and accrued income +€217,805
up €217,805 (+4688.8%), from €4,645 to €222,450
- Stocks and contracts +€113,644
up €113,644 (+9.1%), from €1.3m to €1.4m
- Tangible fixed assets -€31,983
down €31,983 (-76.5%), from €41,833 to €9,850
of which Furniture and vehicles: -€27,462
- Cash +€31,607
up €31,607 (+15.0%), from €211,042 to €242,650
mainly Short-term financial debts (+€294,032) and Receivables within one year (+€272,832)
- Short-term financial debts +€294,032
up €294,032 (+26.1%), from €1.1m to €1.4m
- Trade debts -€248,291
down €248,291 (-92.1%), from €269,476 to €21,185
- Reserves +€30,852
up €30,852 (+5.7%), from €545,539 to €576,391
- Gross operating margin -€149,662
down €149,662 (-44.8%), from €334,253 to €184,592
- Taxes -€46,539
down €46,539 (-84.2%), from €55,264 to €8,725
- Staff costs -€41,732
down €41,732 (-99.7%), from €41,850 to €119
- Financial charges +€30,148
up €30,148 (+85.5%), from €35,268 to €65,417
- Other operating charges +€23,693
up €23,693 (+50.4%), from €46,992 to €70,685
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 | €2,036,588 | €2,094,828 | +€58,240 | +2.9% |
| Fixed assets | 21/28 | €41,833 | €9,850 | -€31,983 | -76.5% |
| Tangible fixed assets | 22/27 | €41,833 | €9,850 | -€31,983 | -76.5% |
| Plant, machinery and equipment | 23 | €7,986 | €3,465 | -€4,522 | -56.6% |
| Furniture and vehicles | 24 | €33,847 | €6,385 | -€27,462 | -81.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,994,755 | €2,084,978 | +€90,223 | +4.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €1,254,356 | €1,368,000 | +€113,644 | +9.1% |
| Stocks | 30/36 | €1,254,356 | €1,368,000 | +€113,644 | +9.1% |
| Amounts receivable within one year | 40/41 | €524,711 | €251,879 | -€272,832 | -52.0% |
| Trade receivables | 40 | €248,969 | €81,369 | -€167,600 | -67.3% |
| Other amounts receivable | 41 | €275,741 | €170,509 | -€105,232 | -38.2% |
| Cash at bank and in hand | 54/58 | €211,042 | €242,650 | +€31,607 | +15.0% |
| Deferred charges and accrued income | 490/1 | €4,645 | €222,450 | +€217,805 | +4688.8% |
| Total equity and liabilities | 10/49 | €2,036,588 | €2,094,828 | +€58,240 | +2.9% |
| Equity | 10/15 | €549,039 | €579,891 | +€30,852 | +5.6% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €545,539 | €576,391 | +€30,852 | +5.7% |
| Distributable reserves | 133 | €545,539 | €576,391 | +€30,852 | +5.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,487,549 | €1,514,937 | +€27,388 | +1.8% |
| Amounts payable after more than one year | 17 | €18,689 | €2,276 | -€16,413 | -87.8% |
| Financial debts | 170/4 | €18,689 | €2,276 | -€16,413 | -87.8% |
| Amounts payable within one year | 42/48 | €1,468,859 | €1,512,661 | +€43,801 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €21,120 | €16,413 | -€4,707 | -22.3% |
| Financial debts | 43 | €1,124,923 | €1,418,955 | +€294,032 | +26.1% |
| Credit institutions | 430/8 | €1,124,923 | €1,418,955 | +€294,032 | +26.1% |
| Trade debts | 44 | €269,476 | €21,185 | -€248,291 | -92.1% |
| Suppliers | 440/4 | €269,476 | €21,185 | -€248,291 | -92.1% |
| Taxes, remuneration and social security | 45 | €34,028 | €54,471 | +€20,443 | +60.1% |
| Taxes | 450/3 | €34,028 | €51,971 | +€17,943 | +52.7% |
| Remuneration and social security | 454/9 | €0 | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €19,313 | €1,636 | -€17,677 | -91.5% |
| Remuneration, social security and pensions | 62 | €41,850 | €119 | -€41,732 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,944 | €11,622 | -€11,322 | -49.3% |
| Other operating charges | 640/8 | €46,992 | €70,685 | +€23,693 | +50.4% |
| Gross operating margin | 9900 | €334,253 | €184,592 | -€149,662 | -44.8% |
| Operating profit (loss) | 9901 | €222,467 | €102,166 | -€120,301 | -54.1% |
| Financial income | 75/76B | €10,723 | €2,828 | -€7,896 | -73.6% |
| Recurring financial income | 75 | €10,723 | €2,828 | -€7,896 | -73.6% |
| Financial charges | 65/66B | €35,268 | €65,417 | +€30,148 | +85.5% |
| Recurring financial charges | 65 | €35,268 | €65,417 | +€30,148 | +85.5% |
| Profit (loss) for the period before taxes | 9903 | €197,922 | €39,577 | -€158,345 | -80.0% |
| Income taxes | 67/77 | €55,264 | €8,725 | -€46,539 | -84.2% |
| Profit (loss) for the period | 9904 | €142,658 | €30,852 | -€111,806 | -78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €142,658 | €30,852 | -€111,806 | -78.4% |
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 12 October 2026 via checked.be.