DWJ 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.
DWJ PROJECTS
Largest movements
- Cash -€876,648
down €876,648 (-43.9%), from €2.0m to €1.1m
mainly Trade debts (-€858,013) and Debts after one year (-€291,210)
- Receivables after one year -€205,726
down €205,726 (-11.2%), from €1.8m to €1.6m
of which Trade receivables: -€192,069
- Receivables within one year -€137,816
down €137,816 (-17.1%), from €804,153 to €666,337
of which Other amounts receivable: -€86,644
- Stocks and contracts +€120,785
up €120,785 (+57.8%), from €208,863 to €329,648
- Trade debts -€858,013
down €858,013 (-74.7%), from €1.1m to €290,029
- Debts after one year -€291,210
down €291,210 (-13.0%), from €2.2m to €2.0m
- Reserves +€58,542
up €58,542 (+6.1%), from €957,392 to €1.0m
of which Distributable reserves: +€58,542
- Taxes -€410,212
down €410,212 (-92.8%), from €442,267 to €32,056
- Financial charges -€88,547
down €88,547 (-72.0%), from €123,055 to €34,508
- Depreciation +€10,906
up €10,906 (+36.1%), from €30,223 to €41,129
- Financial income -€9,465
down €9,465 (-12.8%), from €73,824 to €64,359
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 | €5,053,313 | €3,985,173 | -€1.1m | -21.1% |
| Formation expenses | 20 | €1,616 | - | -€1,616 | |
| Fixed assets | 21/28 | €202,515 | €235,528 | +€33,013 | +16.3% |
| Tangible fixed assets | 22/27 | €202,515 | €235,528 | +€33,013 | +16.3% |
| Land and buildings | 22 | €201,086 | €172,470 | -€28,616 | -14.2% |
| Plant, machinery and equipment | 23 | - | €27,687 | +€27,687 | |
| Furniture and vehicles | 24 | €1,429 | €35,371 | +€33,942 | +2375.4% |
| Current assets | 29/58 | €4,849,182 | €3,749,645 | -€1.1m | -22.7% |
| Amounts receivable after more than one year | 29 | €1,838,093 | €1,632,367 | -€205,726 | -11.2% |
| Trade receivables | 290 | €1,824,436 | €1,632,367 | -€192,069 | -10.5% |
| Other amounts receivable | 291 | €13,657 | - | -€13,657 | |
| Stocks and contracts in progress | 3 | €208,863 | €329,648 | +€120,785 | +57.8% |
| Stocks | 30/36 | €208,863 | €329,648 | +€120,785 | +57.8% |
| Amounts receivable within one year | 40/41 | €804,153 | €666,337 | -€137,816 | -17.1% |
| Trade receivables | 40 | €402,706 | €351,534 | -€51,172 | -12.7% |
| Other amounts receivable | 41 | €401,447 | €314,803 | -€86,644 | -21.6% |
| Cash at bank and in hand | 54/58 | €1,997,941 | €1,121,293 | -€876,648 | -43.9% |
| Deferred charges and accrued income | 490/1 | €132 | - | -€132 | |
| Total equity and liabilities | 10/49 | €5,053,313 | €3,985,173 | -€1.1m | -21.1% |
| Equity | 10/15 | €1,271,289 | €1,329,831 | +€58,542 | +4.6% |
| Contributions | 10/11 | €313,897 | €313,897 | = | 0.0% |
| Reserves | 13 | €957,392 | €1,015,934 | +€58,542 | +6.1% |
| Non-distributable reserves | 130/1 | €33,250 | €33,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €33,250 | €33,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €905,393 | €963,934 | +€58,542 | +6.5% |
| Amounts payable | 17/49 | €3,782,023 | €2,655,342 | -€1.1m | -29.8% |
| Amounts payable after more than one year | 17 | €2,241,343 | €1,950,134 | -€291,210 | -13.0% |
| Financial debts | 170/4 | €2,241,343 | €1,950,134 | -€291,210 | -13.0% |
| Amounts payable within one year | 42/48 | €1,540,680 | €705,208 | -€835,472 | -54.2% |
| Current portion of amounts payable after more than one year | 42 | €264,953 | €267,615 | +€2,662 | +1.0% |
| Trade debts | 44 | €1,148,042 | €290,029 | -€858,013 | -74.7% |
| Suppliers | 440/4 | €1,148,042 | €290,029 | -€858,013 | -74.7% |
| Taxes, remuneration and social security | 45 | €127,685 | €147,565 | +€19,880 | +15.6% |
| Taxes | 450/3 | €31,061 | €61,505 | +€30,444 | +98.0% |
| Remuneration and social security | 454/9 | €96,624 | €86,059 | -€10,565 | -10.9% |
| Remuneration, social security and pensions | 62 | €661,782 | €666,157 | +€4,374 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,223 | €41,129 | +€10,906 | +36.1% |
| Other operating charges | 640/8 | €16,643 | €18,009 | +€1,366 | +8.2% |
| Gross operating margin | 9900 | €790,425 | €786,041 | -€4,384 | -0.6% |
| Operating profit (loss) | 9901 | €81,776 | €60,746 | -€21,030 | -25.7% |
| Financial income | 75/76B | €73,824 | €64,359 | -€9,465 | -12.8% |
| Recurring financial income | 75 | €73,824 | €64,359 | -€9,465 | -12.8% |
| Financial charges | 65/66B | €123,055 | €34,508 | -€88,547 | -72.0% |
| Recurring financial charges | 65 | €123,055 | €34,508 | -€88,547 | -72.0% |
| Profit (loss) for the period before taxes | 9903 | €32,545 | €90,597 | +€58,052 | +178.4% |
| Income taxes | 67/77 | €442,267 | €32,056 | -€410,212 | -92.8% |
| Profit (loss) for the period | 9904 | -€409,722 | €58,542 | +€468,264 | |
| Profit (loss) for the period to be appropriated | 9905 | -€409,722 | €58,542 | +€468,264 |
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.