DWX: 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.
DWX
Largest movements
- Receivables within one year +€385,964
up €385,964 (+119%), from €323,730 to €709,694
of which Other amounts receivable: +€252,620
- Cash -€67,027
down €67,027 (-74.3%), from €90,205 to €23,178
mainly Receivables within one year (-€385,964) and Current investments (-€43,000)
- Current investments +€43,000
new in 2025: €43,000
- Stocks and contracts +€28,132
up €28,132 (+11.4%), from €247,673 to €275,804
- Reserves +€370,893
up €370,893 (+269%), from €137,697 to €508,589
of which Distributable reserves: +€370,893
- Tax, wage and social debts +€62,028
up €62,028 (+49.8%), from €124,651 to €186,679
of which Taxes: +€111,839
- Trade debts -€22,481
down €22,481 (-5.9%), from €378,804 to €356,323
- Current portion of long-term debt -€17,691
no longer reported in 2025 (was €17,691)
- Gross operating margin +€827,722
up €827,722 (+172%), from €482,029 to €1.3m
- Taxes +€381,537
up €381,537 (+2,834%), from €13,463 to €395,000
- Staff costs +€66,126
up €66,126 (+16.1%), from €410,701 to €476,827
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 | €699,783 | €1,086,038 | +€386,255 | +55.2% |
| Fixed assets | 21/28 | €37,270 | €31,311 | -€5,959 | -16.0% |
| Tangible fixed assets | 22/27 | €37,270 | €31,311 | -€5,959 | -16.0% |
| Plant, machinery and equipment | 23 | €15,119 | €15,500 | +€381 | +2.5% |
| Furniture and vehicles | 24 | €22,151 | €15,811 | -€6,340 | -28.6% |
| Current assets | 29/58 | €662,513 | €1,054,727 | +€392,214 | +59.2% |
| Stocks and contracts in progress | 3 | €247,673 | €275,804 | +€28,132 | +11.4% |
| Stocks | 30/36 | €247,673 | €275,804 | +€28,132 | +11.4% |
| Amounts receivable within one year | 40/41 | €323,730 | €709,694 | +€385,964 | +119% |
| Trade receivables | 40 | €81,425 | €214,769 | +€133,344 | +164% |
| Other amounts receivable | 41 | €242,305 | €494,925 | +€252,620 | +104% |
| Current investments | 50/53 | - | €43,000 | +€43,000 | |
| Cash at bank and in hand | 54/58 | €90,205 | €23,178 | -€67,027 | -74.3% |
| Deferred charges and accrued income | 490/1 | €906 | €3,050 | +€2,145 | +237% |
| Total equity and liabilities | 10/49 | €699,783 | €1,086,038 | +€386,255 | +55.2% |
| Equity | 10/15 | €156,148 | €527,040 | +€370,893 | +238% |
| Contributions | 10/11 | €812 | €812 | = | 0.0% |
| Reserves | 13 | €137,697 | €508,589 | +€370,893 | +269% |
| Tax-exempt reserves | 132 | €1,909 | €1,909 | = | 0.0% |
| Distributable reserves | 133 | €135,787 | €506,680 | +€370,893 | +273% |
| Profit (loss) carried forward | 14 | €17,639 | €17,639 | = | 0.0% |
| Amounts payable | 17/49 | €543,635 | €558,998 | +€15,362 | +2.8% |
| Amounts payable within one year | 42/48 | €541,892 | €558,998 | +€17,105 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €17,691 | - | -€17,691 | |
| Financial debts | 43 | €3,239 | €7,064 | +€3,825 | +118% |
| Credit institutions | 430/8 | €3,239 | €7,064 | +€3,825 | +118% |
| Trade debts | 44 | €378,804 | €356,323 | -€22,481 | -5.9% |
| Suppliers | 440/4 | €378,804 | €356,323 | -€22,481 | -5.9% |
| Taxes, remuneration and social security | 45 | €124,651 | €186,679 | +€62,028 | +49.8% |
| Taxes | 450/3 | €74,840 | €186,679 | +€111,839 | +149% |
| Remuneration and social security | 454/9 | €49,811 | - | -€49,811 | |
| Other amounts payable | 47/48 | €17,507 | €8,932 | -€8,575 | -49.0% |
| Accrued charges and deferred income | 492/3 | €1,743 | - | -€1,743 | |
| Remuneration, social security and pensions | 62 | €410,701 | €476,827 | +€66,126 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,161 | €16,009 | +€1,848 | +13.1% |
| Other operating charges | 640/8 | €1,699 | €1,447 | -€252 | -14.8% |
| Gross operating margin | 9900 | €482,029 | €1,309,751 | +€827,722 | +172% |
| Operating profit (loss) | 9901 | €55,468 | €815,468 | +€760,000 | +1,370% |
| Financial income | 75/76B | €70 | €629 | +€559 | +793% |
| Recurring financial income | 75 | €70 | €629 | +€559 | +793% |
| Financial charges | 65/66B | €17,110 | €19,447 | +€2,337 | +13.7% |
| Recurring financial charges | 65 | €17,110 | €19,447 | +€2,337 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €38,428 | €796,650 | +€758,222 | +1,973% |
| Income taxes | 67/77 | €13,463 | €395,000 | +€381,537 | +2,834% |
| Profit (loss) for the period | 9904 | €24,965 | €401,650 | +€376,685 | +1,509% |
| Profit (loss) for the period to be appropriated | 9905 | €24,965 | €401,650 | +€376,685 | +1,509% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.