DWV INVEST: what changed
DWV INVEST
Largest movements
- Financial fixed assets +€625,000
up €625,000 (+51.1%), from €1.2m to €1.8m
- Cash +€150,945
up €150,945 (+2,792%), from €5,406 to €156,351
mainly Other debts (+€850,000) and Net result for the year (+€25,333)
- Other debts +€850,000
up €850,000 (+415%), from €205,015 to €1.1m
- Debts after one year -€88,661
down €88,661 (-22.3%), from €397,112 to €308,451
- Reserves +€25,333
up €25,333 (+4.1%), from €625,146 to €650,479
of which Distributable reserves: +€25,333
- Financial income -€224,935
down €224,935 (-99.8%), from €225,349 to €414
- Gross operating margin -€66,832
down €66,832 (-61.7%), from €108,284 to €41,452
- Taxes -€15,644
down €15,644 (-63.3%), from €24,713 to €9,069
- Financial charges -€2,594
down €2,594 (-29.3%), from €8,851 to €6,258
- Other operating charges -€1,172
down €1,172 (-49.3%), from €2,378 to €1,206
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,339,225 | €2,126,794 | +€787,570 | +58.8% |
| Fixed assets | 21/28 | €1,315,927 | €1,940,927 | +€625,000 | +47.5% |
| Tangible fixed assets | 22/27 | €91,700 | €91,700 | = | 0.0% |
| Land and buildings | 22 | €91,700 | €91,700 | = | 0.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €1,224,227 | €1,849,227 | +€625,000 | +51.1% |
| Current assets | 29/58 | €23,298 | €185,867 | +€162,570 | +698% |
| Amounts receivable within one year | 40/41 | €17,892 | €29,516 | +€11,625 | +65.0% |
| Trade receivables | 40 | €0 | €20,570 | +€20,570 | |
| Other amounts receivable | 41 | €17,892 | €8,946 | -€8,945 | -50.0% |
| Cash at bank and in hand | 54/58 | €5,406 | €156,351 | +€150,945 | +2,792% |
| Total equity and liabilities | 10/49 | €1,339,225 | €2,126,794 | +€787,570 | +58.8% |
| Equity | 10/15 | €643,746 | €669,079 | +€25,333 | +3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €625,146 | €650,479 | +€25,333 | +4.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €625,146 | €650,479 | +€25,333 | +4.1% |
| Amounts payable | 17/49 | €695,479 | €1,457,715 | +€762,237 | +110% |
| Amounts payable after more than one year | 17 | €397,112 | €308,451 | -€88,661 | -22.3% |
| Financial debts | 170/4 | €397,112 | €308,451 | -€88,661 | -22.3% |
| Amounts payable within one year | 42/48 | €298,367 | €1,149,264 | +€850,898 | +285% |
| Current portion of amounts payable after more than one year | 42 | €88,532 | €88,661 | +€129 | +0.1% |
| Trade debts | 44 | €1,187 | €1,172 | -€16 | -1.3% |
| Suppliers | 440/4 | €1,187 | €1,172 | -€16 | -1.3% |
| Taxes, remuneration and social security | 45 | €3,633 | €4,417 | +€784 | +21.6% |
| Taxes | 450/3 | €1,448 | €2,232 | +€784 | +54.2% |
| Remuneration and social security | 454/9 | €2,185 | €2,185 | = | 0.0% |
| Other amounts payable | 47/48 | €205,015 | €1,055,015 | +€850,000 | +415% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €458 | €0 | -€458 | -100% |
| Other operating charges | 640/8 | €2,378 | €1,206 | -€1,172 | -49.3% |
| Gross operating margin | 9900 | €108,284 | €41,452 | -€66,832 | -61.7% |
| Operating profit (loss) | 9901 | €105,448 | €40,246 | -€65,201 | -61.8% |
| Financial income | 75/76B | €225,349 | €414 | -€224,935 | -99.8% |
| Recurring financial income | 75 | €225,349 | €414 | -€224,935 | -99.8% |
| Financial charges | 65/66B | €8,851 | €6,258 | -€2,594 | -29.3% |
| Recurring financial charges | 65 | €8,851 | €6,258 | -€2,594 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €321,945 | €34,402 | -€287,543 | -89.3% |
| Income taxes | 67/77 | €24,713 | €9,069 | -€15,644 | -63.3% |
| Profit (loss) for the period | 9904 | €297,232 | €25,333 | -€271,899 | -91.5% |
| Profit (loss) for the period to be appropriated | 9905 | €297,232 | €25,333 | -€271,899 | -91.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.