EDW Formation: 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.
What changed
EDW Formation
NACE 85.592, Vocational training
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€23,231
2024 · -€60,767+€83,998
Equity
€137,367
2024 · €114,136+€23,231
Cash
€9,291
2024 · €11,397-€2,106
Balance sheet total
€2.2m
2024 · €2.3m-€51,818
Largest movements
Assets
- Tangible fixed assets -€121,990
down €121,990 (-6.4%), from €1.9m to €1.8m
of which Land and buildings: -€83,649
- Receivables within one year +€73,536
up €73,536 (+25.1%), from €292,620 to €366,156
of which Trade receivables: +€51,573
Equity and liabilities
- Tax, wage and social debts +€157,878
up €157,878 (+68.4%), from €230,712 to €388,590
of which Taxes: +€118,996
- Trade debts -€125,680
down €125,680 (-57.1%), from €220,048 to €94,368
- Debts after one year -€76,112
down €76,112 (-4.8%), from €1.6m to €1.5m
of which Financial debts: -€76,112
- Profit (loss) carried forward +€23,231
up €23,231, from -€5,624 to €17,607
Income statement
- Gross operating margin +€187,896
up €187,896 (+54.9%), from €342,039 to €529,935
- Staff costs +€59,712
up €59,712 (+28.5%), from €209,778 to €269,490
- Depreciation +€46,471
up €46,471 (+49.6%), from €93,769 to €140,240
- Write-downs -€5,747
down €5,747, from €1,130 to -€4,617
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.
Result 2024
-€60,767
Gross operating margin
+€187,896
Staff costs
-€59,712
Depreciation
-€46,471
Write-downs
+€5,747
Other operating charges
-€1,615
Other operating items
+€5,143
Financial income
-€2,330
Financial charges
-€4,920
Taxes
+€260
Result 2025
€23,231
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.
From operations
+€104,604
Investment
-€18,024
Financing
-€88,686
Cash 2024
€11,397
From operations (derived)
+€104,604
Net result for the year
+€23,231
Depreciation
+€140,240
Stocks and contracts
+€1,168
Receivables within one year
-€73,536
Deferred charges and accrued income
-€137
Trade debts
-€125,680
Tax, wage and social debts
+€157,878
Advances received
+€420
Accrued charges and deferred income
-€18,982
Investment (derived)
-€18,024
Investment in fixed assets (net)
-€18,024
Financing
-€88,686
Debts after one year
-€76,112
Current portion of long-term debt
-€12,574
Cash 2025
€9,291
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,268,285 | €2,216,467 | -€51,818 | -2.3% |
| Fixed assets | 21/28 | €1,935,330 | €1,813,114 | -€122,216 | -6.3% |
| Intangible fixed assets | 21 | €226 | €0 | -€226 | -100.0% |
| Tangible fixed assets | 22/27 | €1,916,609 | €1,794,619 | -€121,990 | -6.4% |
| Land and buildings | 22 | €1,841,268 | €1,757,619 | -€83,649 | -4.5% |
| Plant, machinery and equipment | 23 | €2,469 | €4,887 | +€2,418 | +98.0% |
| Furniture and vehicles | 24 | €38,838 | €24,154 | -€14,683 | -37.8% |
| Leasing and similar rights | 25 | €31,818 | €7,342 | -€24,476 | -76.9% |
| Other tangible fixed assets | 26 | €2,217 | €617 | -€1,600 | -72.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €18,495 | €18,495 | = | 0.0% |
| Current assets | 29/58 | €332,954 | €403,352 | +€70,398 | +21.1% |
| Stocks and contracts in progress | 3 | €13,308 | €12,140 | -€1,168 | -8.8% |
| Stocks | 30/36 | €13,308 | €12,140 | -€1,168 | -8.8% |
| Amounts receivable within one year | 40/41 | €292,620 | €366,156 | +€73,536 | +25.1% |
| Trade receivables | 40 | €113,541 | €165,115 | +€51,573 | +45.4% |
| Other amounts receivable | 41 | €179,079 | €201,041 | +€21,962 | +12.3% |
| Cash at bank and in hand | 54/58 | €11,397 | €9,291 | -€2,106 | -18.5% |
| Deferred charges and accrued income | 490/1 | €15,629 | €15,766 | +€137 | +0.9% |
| Total equity and liabilities | 10/49 | €2,268,285 | €2,216,467 | -€51,818 | -2.3% |
| Equity | 10/15 | €114,136 | €137,367 | +€23,231 | +20.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €107,360 | €107,360 | = | 0.0% |
| Distributable reserves | 133 | €107,360 | €107,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,624 | €17,607 | +€23,231 | |
| Amounts payable | 17/49 | €2,154,149 | €2,079,100 | -€75,049 | -3.5% |
| Amounts payable after more than one year | 17 | €1,581,952 | €1,505,840 | -€76,112 | -4.8% |
| Financial debts | 170/4 | €1,321,952 | €1,245,840 | -€76,112 | -5.8% |
| Other amounts payable | 178/9 | €260,000 | €260,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €543,515 | €563,560 | +€20,045 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €92,753 | €80,180 | -€12,574 | -13.6% |
| Financial debts | 43 | €2 | €2 | = | 0.0% |
| Credit institutions | 430/8 | €2 | €2 | = | 0.0% |
| Trade debts | 44 | €220,048 | €94,368 | -€125,680 | -57.1% |
| Suppliers | 440/4 | €220,048 | €94,368 | -€125,680 | -57.1% |
| Advances received on contracts in progress | 46 | - | €420 | +€420 | |
| Taxes, remuneration and social security | 45 | €230,712 | €388,590 | +€157,878 | +68.4% |
| Taxes | 450/3 | €155,857 | €274,852 | +€118,996 | +76.3% |
| Remuneration and social security | 454/9 | €74,855 | €113,738 | +€38,883 | +51.9% |
| Accrued charges and deferred income | 492/3 | €28,681 | €9,700 | -€18,982 | -66.2% |
| Non-recurring operating income | 76A | €2,749 | €4,631 | +€1,882 | +68.5% |
| Remuneration, social security and pensions | 62 | €209,778 | €269,490 | +€59,712 | +28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,769 | €140,240 | +€46,471 | +49.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,130 | -€4,617 | -€5,747 | |
| Other operating charges | 640/8 | €4,691 | €6,305 | +€1,615 | +34.4% |
| Non-recurring operating charges | 66A | €14,186 | €9,043 | -€5,143 | -36.3% |
| Gross operating margin | 9900 | €342,039 | €529,935 | +€187,896 | +54.9% |
| Operating profit (loss) | 9901 | €18,485 | €109,472 | +€90,988 | +492.2% |
| Financial income | 75/76B | €2,575 | €245 | -€2,330 | -90.5% |
| Recurring financial income | 75 | €228 | €245 | +€17 | +7.5% |
| Non-recurring financial income | 76B | €2,347 | €0 | -€2,347 | -100.0% |
| Financial charges | 65/66B | €81,195 | €86,116 | +€4,920 | +6.1% |
| Recurring financial charges | 65 | €81,195 | €86,116 | +€4,920 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | -€60,136 | €23,602 | +€83,738 | |
| Income taxes | 67/77 | €631 | €371 | -€260 | -41.2% |
| Profit (loss) for the period | 9904 | -€60,767 | €23,231 | +€83,998 | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,767 | €23,231 | +€83,998 |
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 3 October 2026 via checked.be.