DWSC: 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.
DWSC
Largest movements
- Tangible fixed assets +€82,636
up €82,636 (+24.1%), from €343,406 to €426,042
of which Land and buildings: +€77,045
- Receivables within one year +€57,141
up €57,141 (+20.0%), from €285,352 to €342,493
- Debts after one year +€185,913
up €185,913 (+54.8%), from €339,136 to €525,049
- Other debts -€58,019
down €58,019 (-33.2%), from €174,908 to €116,889
- Profit (loss) carried forward +€28,870
up €28,870 (+29.7%), from €97,306 to €126,176
- Gross operating margin -€91,411
down €91,411 (-64.3%), from €142,260 to €50,849
- Taxes -€17,524
down €17,524 (-67.9%), from €25,826 to €8,302
- Financial charges -€6,709
down €6,709 (-44.1%), from €15,205 to €8,496
- Depreciation -€3,789
down €3,789 (-12.9%), from €29,480 to €25,691
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 | €712,863 | €860,540 | +€147,677 | +20.7% |
| Fixed assets | 21/28 | €343,406 | €426,042 | +€82,636 | +24.1% |
| Tangible fixed assets | 22/27 | €343,406 | €426,042 | +€82,636 | +24.1% |
| Land and buildings | 22 | €295,337 | €372,382 | +€77,045 | +26.1% |
| Plant, machinery and equipment | 23 | €11,082 | €13,988 | +€2,906 | +26.2% |
| Furniture and vehicles | 24 | €36,987 | €39,672 | +€2,685 | +7.3% |
| Current assets | 29/58 | €369,457 | €434,498 | +€65,041 | +17.6% |
| Amounts receivable within one year | 40/41 | €285,352 | €342,493 | +€57,141 | +20.0% |
| Trade receivables | 40 | €285,352 | €342,493 | +€57,141 | +20.0% |
| Cash at bank and in hand | 54/58 | €81,550 | €88,338 | +€6,788 | +8.3% |
| Deferred charges and accrued income | 490/1 | €2,555 | €3,667 | +€1,112 | +43.5% |
| Total equity and liabilities | 10/49 | €712,863 | €860,540 | +€147,677 | +20.7% |
| Equity | 10/15 | €117,766 | €146,636 | +€28,870 | +24.5% |
| 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 | €97,306 | €126,176 | +€28,870 | +29.7% |
| Amounts payable | 17/49 | €595,097 | €713,904 | +€118,807 | +20.0% |
| Amounts payable after more than one year | 17 | €339,136 | €525,049 | +€185,913 | +54.8% |
| Financial debts | 170/4 | €339,136 | €525,049 | +€185,913 | +54.8% |
| Amounts payable within one year | 42/48 | €255,961 | €188,855 | -€67,106 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €57,163 | €60,637 | +€3,474 | +6.1% |
| Trade debts | 44 | €7,390 | €1,135 | -€6,255 | -84.6% |
| Suppliers | 440/4 | €7,390 | €1,135 | -€6,255 | -84.6% |
| Taxes, remuneration and social security | 45 | €16,500 | €10,194 | -€6,306 | -38.2% |
| Taxes | 450/3 | €16,500 | €10,194 | -€6,306 | -38.2% |
| Other amounts payable | 47/48 | €174,908 | €116,889 | -€58,019 | -33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,480 | €25,691 | -€3,789 | -12.9% |
| Other operating charges | 640/8 | €688 | €682 | -€6 | -0.9% |
| Gross operating margin | 9900 | €142,260 | €50,849 | -€91,411 | -64.3% |
| Operating profit (loss) | 9901 | €112,092 | €24,476 | -€87,616 | -78.2% |
| Financial income | 75/76B | €20,325 | €21,192 | +€867 | +4.3% |
| Recurring financial income | 75 | €20,325 | €21,192 | +€867 | +4.3% |
| Financial charges | 65/66B | €15,205 | €8,496 | -€6,709 | -44.1% |
| Recurring financial charges | 65 | €15,205 | €8,496 | -€6,709 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | €117,212 | €37,172 | -€80,040 | -68.3% |
| Income taxes | 67/77 | €25,826 | €8,302 | -€17,524 | -67.9% |
| Profit (loss) for the period | 9904 | €91,386 | €28,870 | -€62,516 | -68.4% |
| Profit (loss) for the period to be appropriated | 9905 | €91,386 | €28,870 | -€62,516 | -68.4% |
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 11 October 2026 via checked.be.