DWG PROJECTS: 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.
DWG PROJECTS
Largest movements
- Cash +€53,795
up €53,795 (+159.9%), from €33,639 to €87,434
mainly Trade debts (+€68,782) and Net result for the year (+€27,178)
- Tangible fixed assets +€31,486
up €31,486 (+62.1%), from €50,700 to €82,186
of which Furniture and vehicles: +€35,379
- Receivables within one year +€18,940
up €18,940 (+35.2%), from €53,753 to €72,693
of which Trade receivables: +€15,612
- Trade debts +€68,782
up €68,782 (+5423.4%), from €1,268 to €70,050
- Advances received -€31,458
no longer reported in 2025 (was €31,458)
- Reserves +€27,178
up €27,178 (+108.9%), from €24,968 to €52,146
of which Distributable reserves: +€27,178
- Debts after one year +€26,510
up €26,510 (+109.5%), from €24,219 to €50,729
- Current portion of long-term debt +€5,575
up €5,575 (+41.0%), from €13,592 to €19,168
- Gross operating margin +€30,457
up €30,457 (+19.1%), from €159,587 to €190,044
- Staff costs +€26,206
up €26,206 (+25.9%), from €101,185 to €127,391
- Depreciation +€5,078
up €5,078 (+31.3%), from €16,244 to €21,322
- Taxes -€2,862
down €2,862 (-20.0%), from €14,307 to €11,445
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 | €143,550 | €246,430 | +€102,880 | +71.7% |
| Formation expenses | 20 | €310 | - | -€310 | |
| Fixed assets | 21/28 | €50,700 | €82,186 | +€31,486 | +62.1% |
| Tangible fixed assets | 22/27 | €50,700 | €82,186 | +€31,486 | +62.1% |
| Plant, machinery and equipment | 23 | €12,456 | €8,563 | -€3,892 | -31.2% |
| Furniture and vehicles | 24 | €38,244 | €73,623 | +€35,379 | +92.5% |
| Current assets | 29/58 | €92,541 | €164,244 | +€71,703 | +77.5% |
| Amounts receivable within one year | 40/41 | €53,753 | €72,693 | +€18,940 | +35.2% |
| Trade receivables | 40 | €23,877 | €39,489 | +€15,612 | +65.4% |
| Other amounts receivable | 41 | €29,876 | €33,204 | +€3,328 | +11.1% |
| Cash at bank and in hand | 54/58 | €33,639 | €87,434 | +€53,795 | +159.9% |
| Deferred charges and accrued income | 490/1 | €5,149 | €4,117 | -€1,031 | -20.0% |
| Total equity and liabilities | 10/49 | €143,550 | €246,430 | +€102,880 | +71.7% |
| Equity | 10/15 | €57,455 | €84,633 | +€27,178 | +47.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €24,968 | €52,146 | +€27,178 | +108.9% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €24,468 | €51,646 | +€27,178 | +111.1% |
| Profit (loss) carried forward | 14 | €27,487 | €27,487 | = | 0.0% |
| Amounts payable | 17/49 | €86,096 | €161,798 | +€75,702 | +87.9% |
| Amounts payable after more than one year | 17 | €24,219 | €50,729 | +€26,510 | +109.5% |
| Financial debts | 170/4 | €24,219 | €50,729 | +€26,510 | +109.5% |
| Amounts payable within one year | 42/48 | €61,876 | €111,069 | +€49,192 | +79.5% |
| Current portion of amounts payable after more than one year | 42 | €13,592 | €19,168 | +€5,575 | +41.0% |
| Financial debts | 43 | - | €3,205 | +€3,205 | |
| Credit institutions | 430/8 | - | €3,205 | +€3,205 | |
| Trade debts | 44 | €1,268 | €70,050 | +€68,782 | +5423.4% |
| Suppliers | 440/4 | €1,268 | €70,050 | +€68,782 | +5423.4% |
| Advances received on contracts in progress | 46 | €31,458 | - | -€31,458 | |
| Taxes, remuneration and social security | 45 | €15,558 | €18,645 | +€3,087 | +19.8% |
| Taxes | 450/3 | €11,706 | €13,152 | +€1,445 | +12.3% |
| Remuneration and social security | 454/9 | €3,852 | €5,494 | +€1,642 | +42.6% |
| Remuneration, social security and pensions | 62 | €101,185 | €127,391 | +€26,206 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,244 | €21,322 | +€5,078 | +31.3% |
| Other operating charges | 640/8 | €1,494 | €1,155 | -€339 | -22.7% |
| Gross operating margin | 9900 | €159,587 | €190,044 | +€30,457 | +19.1% |
| Operating profit (loss) | 9901 | €40,664 | €40,175 | -€488 | -1.2% |
| Financial income | 75/76B | €1,026 | €955 | -€70 | -6.9% |
| Recurring financial income | 75 | €1,026 | €955 | -€70 | -6.9% |
| Financial charges | 65/66B | €2,914 | €2,507 | -€407 | -14.0% |
| Recurring financial charges | 65 | €2,914 | €2,507 | -€407 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €38,775 | €38,623 | -€152 | -0.4% |
| Income taxes | 67/77 | €14,307 | €11,445 | -€2,862 | -20.0% |
| Profit (loss) for the period | 9904 | €24,468 | €27,178 | +€2,710 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,468 | €27,178 | +€2,710 | +11.1% |
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 7 October 2026 via checked.be.