E.W.O.: 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.
E.W.O.
Largest movements
- Receivables within one year -€36,054
down €36,054 (-91.0%), from €39,640 to €3,585
of which Trade receivables: -€36,520
- Tangible fixed assets -€27,522
down €27,522 (-19.1%), from €144,260 to €116,738
of which Furniture and vehicles: -€25,548
- Profit (loss) carried forward -€39,440
down €39,440 (-73.8%), from €53,461 to €14,021
- Tax, wage and social debts -€15,744
down €15,744 (-95.6%), from €16,464 to €720
- Trade debts -€8,927
down €8,927 (-33.9%), from €26,335 to €17,408
- Depreciation +€2,029
up €2,029 (+8.0%), from €25,493 to €27,522
- Gross operating margin +€1,965
up €1,965 (+15.8%), from -€12,456 to -€10,491
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 | €199,309 | €136,447 | -€62,862 | -31.5% |
| Fixed assets | 21/28 | €144,673 | €117,151 | -€27,522 | -19.0% |
| Tangible fixed assets | 22/27 | €144,260 | €116,738 | -€27,522 | -19.1% |
| Land and buildings | 22 | €39,485 | €37,511 | -€1,974 | -5.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €104,775 | €79,227 | -€25,548 | -24.4% |
| Financial fixed assets | 28 | €413 | €413 | = | 0.0% |
| Current assets | 29/58 | €54,636 | €19,296 | -€35,340 | -64.7% |
| Amounts receivable within one year | 40/41 | €39,640 | €3,585 | -€36,054 | -91.0% |
| Trade receivables | 40 | €39,640 | €3,120 | -€36,520 | -92.1% |
| Other amounts receivable | 41 | €0 | €465 | +€465 | |
| Current investments | 50/53 | €6,097 | €6,059 | -€38 | -0.6% |
| Cash at bank and in hand | 54/58 | €8,260 | €9,363 | +€1,102 | +13.3% |
| Deferred charges and accrued income | 490/1 | €638 | €288 | -€350 | -54.8% |
| Total equity and liabilities | 10/49 | €199,309 | €136,447 | -€62,862 | -31.5% |
| Equity | 10/15 | €152,001 | €112,561 | -€39,440 | -25.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €78,540 | €78,540 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €76,540 | €76,540 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,461 | €14,021 | -€39,440 | -73.8% |
| Amounts payable | 17/49 | €47,308 | €23,886 | -€23,422 | -49.5% |
| Amounts payable within one year | 42/48 | €47,308 | €23,886 | -€23,422 | -49.5% |
| Financial debts | 43 | €27 | €118 | +€91 | +336% |
| Credit institutions | 430/8 | €27 | €0 | -€27 | -100% |
| Other loans | 439 | - | €118 | +€118 | |
| Trade debts | 44 | €26,335 | €17,408 | -€8,927 | -33.9% |
| Suppliers | 440/4 | €26,335 | €17,408 | -€8,927 | -33.9% |
| Taxes, remuneration and social security | 45 | €16,464 | €720 | -€15,744 | -95.6% |
| Taxes | 450/3 | €16,464 | €720 | -€15,744 | -95.6% |
| Other amounts payable | 47/48 | €4,482 | €5,639 | +€1,158 | +25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,493 | €27,522 | +€2,029 | +8.0% |
| Other operating charges | 640/8 | €935 | €911 | -€24 | -2.6% |
| Gross operating margin | 9900 | -€12,456 | -€10,491 | +€1,965 | +15.8% |
| Operating profit (loss) | 9901 | -€38,884 | -€38,924 | -€40 | -0.1% |
| Financial income | 75/76B | €96 | €96 | +€0 | +0.1% |
| Recurring financial income | 75 | €96 | €96 | +€0 | +0.1% |
| Financial charges | 65/66B | €169 | €230 | +€61 | +35.9% |
| Recurring financial charges | 65 | €169 | €230 | +€61 | +35.9% |
| Profit (loss) for the period before taxes | 9903 | -€38,958 | -€39,058 | -€101 | -0.3% |
| Income taxes | 67/77 | €379 | €382 | +€3 | +0.8% |
| Profit (loss) for the period | 9904 | -€39,336 | -€39,440 | -€104 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,336 | -€39,440 | -€104 | -0.3% |
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 25 October 2026 via checked.be.