DWH: 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.
DWH
Largest movements
- Stocks and contracts +€8.8m
up €8.8m (+208.0%), from €4.2m to €13.0m
- Debts after one year +€4.8m
up €4.8m (+424.6%), from €1.1m to €6.0m
- Other debts +€4.4m
up €4.4m (+178.6%), from €2.5m to €6.8m
- Reserves -€472,650
down €472,650 (-87.5%), from €539,904 to €67,254
- Gross operating margin -€457,740
down €457,740, from €400,543 to -€57,197
- Financial charges +€138,419
up €138,419 (+90.6%), from €152,731 to €291,150
- Other operating charges +€81,507
up €81,507 (+4419.7%), from €1,844 to €83,351
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 | €4,264,420 | €13,105,002 | +€8.8m | +207.3% |
| Fixed assets | 21/28 | €10,309 | €10,076 | -€234 | -2.3% |
| Tangible fixed assets | 22/27 | €309 | €76 | -€234 | -75.6% |
| Plant, machinery and equipment | 23 | €309 | €76 | -€234 | -75.6% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €4,254,111 | €13,094,926 | +€8.8m | +207.8% |
| Stocks and contracts in progress | 3 | €4,219,634 | €12,995,030 | +€8.8m | +208.0% |
| Stocks | 30/36 | €4,219,634 | €12,995,030 | +€8.8m | +208.0% |
| Amounts receivable within one year | 40/41 | €3,720 | - | -€3,720 | |
| Other amounts receivable | 41 | €3,720 | - | -€3,720 | |
| Cash at bank and in hand | 54/58 | €28,737 | €97,722 | +€68,985 | +240.1% |
| Deferred charges and accrued income | 490/1 | €2,020 | €2,174 | +€155 | +7.7% |
| Total equity and liabilities | 10/49 | €4,264,420 | €13,105,002 | +€8.8m | +207.3% |
| Equity | 10/15 | €664,904 | €192,254 | -€472,650 | -71.1% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €539,904 | €67,254 | -€472,650 | -87.5% |
| Distributable reserves | 133 | €539,904 | €67,254 | -€472,650 | -87.5% |
| Amounts payable | 17/49 | €3,599,516 | €12,912,748 | +€9.3m | +258.7% |
| Amounts payable after more than one year | 17 | €1,138,952 | €5,974,804 | +€4.8m | +424.6% |
| Financial debts | 170/4 | €1,138,952 | €5,974,804 | +€4.8m | +424.6% |
| Amounts payable within one year | 42/48 | €2,460,564 | €6,937,944 | +€4.5m | +182.0% |
| Trade debts | 44 | €4,007 | €90,525 | +€86,519 | +2159.4% |
| Suppliers | 440/4 | €4,007 | €90,525 | +€86,519 | +2159.4% |
| Taxes, remuneration and social security | 45 | - | €3,048 | +€3,048 | |
| Remuneration and social security | 454/9 | - | €3,048 | +€3,048 | |
| Other amounts payable | 47/48 | €2,456,557 | €6,844,371 | +€4.4m | +178.6% |
| Remuneration, social security and pensions | 62 | €41,182 | €40,719 | -€463 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €234 | €234 | = | 0.0% |
| Other operating charges | 640/8 | €1,844 | €83,351 | +€81,507 | +4419.7% |
| Gross operating margin | 9900 | €400,543 | -€57,197 | -€457,740 | |
| Operating profit (loss) | 9901 | €357,283 | -€181,501 | -€538,783 | |
| Financial income | 75/76B | €247 | - | -€247 | |
| Recurring financial income | 75 | €247 | - | -€247 | |
| Financial charges | 65/66B | €152,731 | €291,150 | +€138,419 | +90.6% |
| Recurring financial charges | 65 | €152,731 | €291,150 | +€138,419 | +90.6% |
| Profit (loss) for the period before taxes | 9903 | €204,799 | -€472,650 | -€677,450 | |
| Income taxes | 67/77 | €377 | - | -€377 | |
| Profit (loss) for the period | 9904 | €204,423 | -€472,650 | -€677,073 | |
| Profit (loss) for the period to be appropriated | 9905 | €204,423 | -€472,650 | -€677,073 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.