DWM Protect: 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.
DWM Protect
Largest movements
- Receivables within one year -€63,772
down €63,772 (-87.8%), from €72,600 to €8,828
of which Trade receivables: -€72,600
- Cash +€9,530
up €9,530 (+21.4%), from €44,571 to €54,101
mainly Receivables within one year (+€63,772) and Net result for the year (+€23,509)
- Tangible fixed assets +€4,776
new in 2025: €4,776
- Reserves -€25,409
down €25,409 (-51.9%), from €48,918 to €23,509
- Tax, wage and social debts -€20,699
down €20,699 (-43.2%), from €47,958 to €27,259
- Debts after one year -€4,736
no longer reported in 2025 (was €4,736)
- Gross operating margin -€46,474
down €46,474 (-60.4%), from €76,985 to €30,511
- Taxes -€8,557
down €8,557 (-58.1%), from €14,729 to €6,172
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.
Derived cash bridge
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 | €117,171 | €67,705 | -€49,467 | -42.2% |
| Fixed assets | 21/28 | - | €4,776 | +€4,776 | |
| Tangible fixed assets | 22/27 | - | €4,776 | +€4,776 | |
| Other tangible fixed assets | 26 | - | €4,776 | +€4,776 | |
| Current assets | 29/58 | €117,171 | €62,929 | -€54,242 | -46.3% |
| Amounts receivable within one year | 40/41 | €72,600 | €8,828 | -€63,772 | -87.8% |
| Trade receivables | 40 | €72,600 | - | -€72,600 | |
| Other amounts receivable | 41 | - | €8,828 | +€8,828 | |
| Cash at bank and in hand | 54/58 | €44,571 | €54,101 | +€9,530 | +21.4% |
| Total equity and liabilities | 10/49 | €117,171 | €67,705 | -€49,467 | -42.2% |
| Equity | 10/15 | €56,918 | €31,509 | -€25,409 | -44.6% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €48,918 | €23,509 | -€25,409 | -51.9% |
| Distributable reserves | 133 | €48,918 | €23,509 | -€25,409 | -51.9% |
| Amounts payable | 17/49 | €60,253 | €36,196 | -€24,057 | -39.9% |
| Amounts payable after more than one year | 17 | €4,736 | - | -€4,736 | |
| Other amounts payable | 178/9 | €4,736 | - | -€4,736 | |
| Amounts payable within one year | 42/48 | €55,517 | €36,196 | -€19,322 | -34.8% |
| Trade debts | 44 | €7,560 | €8,494 | +€934 | +12.4% |
| Suppliers | 440/4 | €7,560 | €8,494 | +€934 | +12.4% |
| Taxes, remuneration and social security | 45 | €47,958 | €27,259 | -€20,699 | -43.2% |
| Taxes | 450/3 | €47,958 | €27,259 | -€20,699 | -43.2% |
| Other amounts payable | 47/48 | - | €443 | +€443 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €75 | +€75 | |
| Other operating charges | 640/8 | €860 | €644 | -€216 | -25.1% |
| Gross operating margin | 9900 | €76,985 | €30,511 | -€46,474 | -60.4% |
| Operating profit (loss) | 9901 | €76,125 | €29,792 | -€46,333 | -60.9% |
| Financial income | 75/76B | - | €174 | +€174 | |
| Recurring financial income | 75 | - | €174 | +€174 | |
| Financial charges | 65/66B | €321 | €286 | -€35 | -10.9% |
| Recurring financial charges | 65 | €321 | €286 | -€35 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €75,805 | €29,681 | -€46,124 | -60.8% |
| Income taxes | 67/77 | €14,729 | €6,172 | -€8,557 | -58.1% |
| Profit (loss) for the period | 9904 | €61,076 | €23,509 | -€37,567 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,076 | €23,509 | -€37,567 | -61.5% |
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 22 October 2026 via checked.be.