DWCM: 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.
DWCM
Largest movements
- Cash +€12,887
up €12,887 (+120.6%), from €10,690 to €23,577
mainly Net result for the year (+€22,710) and Other debts (+€1,785)
- Tangible fixed assets +€1,893
up €1,893 (+314.1%), from €603 to €2,495
- Profit (loss) carried forward +€22,710
up €22,710 (+137.8%), from €16,481 to €39,191
- Debts after one year -€10,619
down €10,619 (-11.5%), from €92,231 to €81,612
- Other debts +€1,785
new in 2025: €1,785
- Gross operating margin +€9,036
up €9,036 (+38.3%), from €23,606 to €32,642
- Taxes +€1,665
up €1,665 (+36.4%), from €4,577 to €6,242
- Other operating charges +€753
up €753 (+1268.0%), from €59 to €813
- Depreciation +€567
up €567 (+214.5%), from €264 to €832
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 | €124,684 | €140,209 | +€15,525 | +12.5% |
| Fixed assets | 21/28 | €112,549 | €114,442 | +€1,893 | +1.7% |
| Tangible fixed assets | 22/27 | €603 | €2,495 | +€1,893 | +314.1% |
| Furniture and vehicles | 24 | €603 | €2,495 | +€1,893 | +314.1% |
| Financial fixed assets | 28 | €111,947 | €111,947 | = | 0.0% |
| Current assets | 29/58 | €12,135 | €25,768 | +€13,633 | +112.3% |
| Amounts receivable within one year | 40/41 | €1,445 | €1,423 | -€22 | -1.5% |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €1,445 | €1,423 | -€22 | -1.5% |
| Cash at bank and in hand | 54/58 | €10,690 | €23,577 | +€12,887 | +120.6% |
| Deferred charges and accrued income | 490/1 | - | €767 | +€767 | |
| Total equity and liabilities | 10/49 | €124,684 | €140,209 | +€15,525 | +12.5% |
| Equity | 10/15 | €18,481 | €41,191 | +€22,710 | +122.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,481 | €39,191 | +€22,710 | +137.8% |
| Amounts payable | 17/49 | €106,203 | €99,018 | -€7,184 | -6.8% |
| Amounts payable after more than one year | 17 | €92,231 | €81,612 | -€10,619 | -11.5% |
| Financial debts | 170/4 | €92,231 | €81,612 | -€10,619 | -11.5% |
| Amounts payable within one year | 42/48 | €13,972 | €17,406 | +€3,434 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €10,409 | €10,619 | +€210 | +2.0% |
| Trade debts | 44 | €30 | €1,130 | +€1,100 | +3667.9% |
| Suppliers | 440/4 | €30 | €1,130 | +€1,100 | +3667.9% |
| Taxes, remuneration and social security | 45 | €3,533 | €3,872 | +€339 | +9.6% |
| Taxes | 450/3 | €3,533 | €3,872 | +€339 | +9.6% |
| Other amounts payable | 47/48 | - | €1,785 | +€1,785 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €264 | €832 | +€567 | +214.5% |
| Other operating charges | 640/8 | €59 | €813 | +€753 | +1268.0% |
| Gross operating margin | 9900 | €23,606 | €32,642 | +€9,036 | +38.3% |
| Operating profit (loss) | 9901 | €23,282 | €30,998 | +€7,715 | +33.1% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,224 | €2,046 | -€179 | -8.0% |
| Recurring financial charges | 65 | €2,224 | €2,046 | -€179 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €21,058 | €28,952 | +€7,894 | +37.5% |
| Income taxes | 67/77 | €4,577 | €6,242 | +€1,665 | +36.4% |
| Profit (loss) for the period | 9904 | €16,481 | €22,710 | +€6,229 | +37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,481 | €22,710 | +€6,229 | +37.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.