DWR: 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.
DWR
Largest movements
- Cash -€40,604
no longer reported in 2025 (was €40,604)
mainly Investment in fixed assets (net) (-€29,924) and Debts after one year (-€27,848)
- Tangible fixed assets +€10,795
up €10,795 (+1.5%), from €729,250 to €740,045
- Debts after one year -€27,848
down €27,848 (-7.7%), from €362,025 to €334,177
- Financial charges -€6,645
down €6,645 (-34.8%), from €19,096 to €12,451
- Gross operating margin +€4,165
up €4,165 (+18.7%), from €22,229 to €26,394
- Depreciation +€1,879
up €1,879 (+10.9%), from €17,250 to €19,129
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 | €771,829 | €743,023 | -€28,806 | -3.7% |
| Fixed assets | 21/28 | €729,250 | €740,045 | +€10,795 | +1.5% |
| Tangible fixed assets | 22/27 | €729,250 | €740,045 | +€10,795 | +1.5% |
| Land and buildings | 22 | €729,250 | €740,045 | +€10,795 | +1.5% |
| Current assets | 29/58 | €42,579 | €2,978 | -€39,601 | -93.0% |
| Amounts receivable within one year | 40/41 | €348 | €348 | = | 0.0% |
| Trade receivables | 40 | €348 | €348 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €40,604 | - | -€40,604 | |
| Deferred charges and accrued income | 490/1 | €1,627 | €2,630 | +€1,003 | +61.6% |
| Total equity and liabilities | 10/49 | €771,829 | €743,023 | -€28,806 | -3.7% |
| Equity | 10/15 | €378,953 | €373,767 | -€5,186 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €358,493 | €353,307 | -€5,186 | -1.4% |
| Amounts payable | 17/49 | €392,876 | €369,256 | -€23,620 | -6.0% |
| Amounts payable after more than one year | 17 | €362,025 | €334,177 | -€27,848 | -7.7% |
| Financial debts | 170/4 | €362,025 | €334,177 | -€27,848 | -7.7% |
| Amounts payable within one year | 42/48 | €30,851 | €35,079 | +€4,228 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €27,848 | €27,848 | = | 0.0% |
| Financial debts | 43 | - | €3,307 | +€3,307 | |
| Credit institutions | 430/8 | - | €3,307 | +€3,307 | |
| Trade debts | 44 | €291 | €1,200 | +€909 | +312.4% |
| Suppliers | 440/4 | €291 | €1,200 | +€909 | +312.4% |
| Other amounts payable | 47/48 | €2,712 | €2,724 | +€12 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,250 | €19,129 | +€1,879 | +10.9% |
| Gross operating margin | 9900 | €22,229 | €26,394 | +€4,165 | +18.7% |
| Operating profit (loss) | 9901 | €4,979 | €7,265 | +€2,286 | +45.9% |
| Financial charges | 65/66B | €19,096 | €12,451 | -€6,645 | -34.8% |
| Recurring financial charges | 65 | €19,096 | €12,451 | -€6,645 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | -€14,117 | -€5,186 | +€8,931 | +63.3% |
| Profit (loss) for the period | 9904 | -€14,117 | -€5,186 | +€8,931 | +63.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,117 | -€5,186 | +€8,931 | +63.3% |
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.