EDWA: 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.
EDWA
Largest movements
- Tangible fixed assets -€107,880
down €107,880 (-98.7%), from €109,276 to €1,395
of which Land and buildings: -€103,124
- Current investments -€70,710
down €70,710 (-15.2%), from €465,196 to €394,487
- Cash +€43,182
up €43,182 (+91.1%), from €47,392 to €90,574
mainly Investment in fixed assets (net) (+€100,000) and Current investments (+€70,710)
- Receivables within one year +€34,134
up €34,134 (+15.1%), from €226,214 to €260,348
- Profit (loss) carried forward -€106,024
down €106,024 (-157.8%), from -€67,198 to -€173,222
- Financial charges +€99,997
up €99,997 (+57053.2%), from €175 to €100,172
of which Non-recurring financial charges: +€100,000
- Gross operating margin +€10,907
up €10,907, from -€10,395 to €512
- Depreciation -€3,882
down €3,882 (-33.0%), from €11,763 to €7,880
- Other operating charges -€1,549
down €1,549 (-21.2%), from €7,294 to €5,745
- Financial income -€230
down €230 (-3.0%), from €7,631 to €7,401
of which Financial income: -€230
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 | €852,858 | €747,473 | -€105,385 | -12.4% |
| Fixed assets | 21/28 | €109,276 | €1,395 | -€107,880 | -98.7% |
| Tangible fixed assets | 22/27 | €109,276 | €1,395 | -€107,880 | -98.7% |
| Land and buildings | 22 | €104,519 | €1,395 | -€103,124 | -98.7% |
| Furniture and vehicles | 24 | €4,757 | - | -€4,757 | |
| Current assets | 29/58 | €743,583 | €746,078 | +€2,496 | +0.3% |
| Stocks and contracts in progress | 3 | €3,560 | - | -€3,560 | |
| Stocks | 30/36 | €3,560 | - | -€3,560 | |
| Amounts receivable within one year | 40/41 | €226,214 | €260,348 | +€34,134 | +15.1% |
| Other amounts receivable | 41 | €226,214 | €260,348 | +€34,134 | +15.1% |
| Current investments | 50/53 | €465,196 | €394,487 | -€70,710 | -15.2% |
| Cash at bank and in hand | 54/58 | €47,392 | €90,574 | +€43,182 | +91.1% |
| Deferred charges and accrued income | 490/1 | €1,221 | €670 | -€551 | -45.1% |
| Total equity and liabilities | 10/49 | €852,858 | €747,473 | -€105,385 | -12.4% |
| Equity | 10/15 | €849,975 | €743,951 | -€106,024 | -12.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €898,573 | €898,573 | = | 0.0% |
| Distributable reserves | 133 | €898,573 | €898,573 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,198 | -€173,222 | -€106,024 | -157.8% |
| Amounts payable | 17/49 | €2,883 | €3,522 | +€639 | +22.2% |
| Amounts payable within one year | 42/48 | €2,883 | €3,522 | +€639 | +22.2% |
| Trade debts | 44 | €164 | €140 | -€25 | -15.1% |
| Suppliers | 440/4 | €164 | €140 | -€25 | -15.1% |
| Taxes, remuneration and social security | 45 | €2,719 | €3,090 | +€371 | +13.7% |
| Taxes | 450/3 | €2,719 | €3,090 | +€371 | +13.7% |
| Other amounts payable | 47/48 | - | €293 | +€293 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,763 | €7,880 | -€3,882 | -33.0% |
| Other operating charges | 640/8 | €7,294 | €5,745 | -€1,549 | -21.2% |
| Gross operating margin | 9900 | -€10,395 | €512 | +€10,907 | |
| Operating profit (loss) | 9901 | -€29,452 | -€13,113 | +€16,339 | +55.5% |
| Financial income | 75/76B | €7,631 | €7,401 | -€230 | -3.0% |
| Recurring financial income | 75 | €7,571 | €7,341 | -€230 | -3.0% |
| Non-recurring financial income | 76B | €60 | €60 | = | 0.0% |
| Financial charges | 65/66B | €175 | €100,172 | +€99,997 | +57053.2% |
| Recurring financial charges | 65 | €175 | €172 | -€3 | -1.6% |
| Non-recurring financial charges | 66B | - | €100,000 | +€100,000 | |
| Profit (loss) for the period before taxes | 9903 | -€21,996 | -€105,885 | -€83,889 | -381.4% |
| Income taxes | 67/77 | €164 | €140 | -€25 | -15.1% |
| Profit (loss) for the period | 9904 | -€22,160 | -€106,024 | -€83,864 | -378.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,160 | -€106,024 | -€83,864 | -378.4% |
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 9 October 2026 via checked.be.