Els De Wit: 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.
Els De Wit
Largest movements
- Cash +€10,709
up €10,709 (+12.4%), from €86,466 to €97,175
mainly Net result for the year (+€33,832) and Other debts (+€19,195)
- Receivables within one year +€10,430
up €10,430, from €0 to €10,430
of which Trade receivables: +€5,980
- Tangible fixed assets +€3,192
up €3,192 (+16.6%), from €19,202 to €22,394
of which Furniture and vehicles: +€8,703
- Intangible fixed assets +€3,104
new in 2025: €3,104
- Other debts +€19,195
up €19,195 (+814%), from €2,357 to €21,552
- Reserves +€13,832
up €13,832 (+16.3%), from €84,860 to €98,692
of which Distributable reserves: +€13,832
- Tax, wage and social debts -€6,481
down €6,481 (-99.6%), from €6,505 to €24
of which Remuneration and social security: -€3,505
- Trade debts +€2,662
up €2,662 (+55.0%), from €4,839 to €7,501
- Taxes -€19,387
down €19,387 (-100.0%), from €19,393 to €6
- Gross operating margin -€7,921
down €7,921 (-14.1%), from €56,111 to €48,190
- Other operating charges -€7,761
down €7,761 (-53.5%), from €14,505 to €6,744
- Financial income +€4,725
up €4,725 (+14,473%), from €33 to €4,758
- Depreciation +€3,837
up €3,837 (+46.7%), from €8,218 to €12,055
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 | €111,891 | €140,830 | +€28,939 | +25.9% |
| Fixed assets | 21/28 | €19,227 | €25,523 | +€6,295 | +32.7% |
| Intangible fixed assets | 21 | - | €3,104 | +€3,104 | |
| Tangible fixed assets | 22/27 | €19,202 | €22,394 | +€3,192 | +16.6% |
| Plant, machinery and equipment | 23 | €1,841 | €1,153 | -€687 | -37.3% |
| Furniture and vehicles | 24 | €6,761 | €15,463 | +€8,703 | +129% |
| Other tangible fixed assets | 26 | €10,601 | €5,777 | -€4,824 | -45.5% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €92,663 | €115,307 | +€22,644 | +24.4% |
| Amounts receivable within one year | 40/41 | €0 | €10,430 | +€10,430 | |
| Trade receivables | 40 | €0 | €5,980 | +€5,980 | |
| Other amounts receivable | 41 | €0 | €4,450 | +€4,450 | |
| Current investments | 50/53 | €6,198 | €7,000 | +€802 | +12.9% |
| Cash at bank and in hand | 54/58 | €86,466 | €97,175 | +€10,709 | +12.4% |
| Deferred charges and accrued income | 490/1 | - | €703 | +€703 | |
| Total equity and liabilities | 10/49 | €111,891 | €140,830 | +€28,939 | +25.9% |
| Equity | 10/15 | €97,921 | €111,753 | +€13,832 | +14.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €84,860 | €98,692 | +€13,832 | +16.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €83,000 | €96,832 | +€13,832 | +16.7% |
| Profit (loss) carried forward | 14 | €661 | €661 | = | 0.0% |
| Amounts payable | 17/49 | €13,970 | €29,077 | +€15,107 | +108% |
| Amounts payable within one year | 42/48 | €13,970 | €29,077 | +€15,107 | +108% |
| Current portion of amounts payable after more than one year | 42 | €269 | €0 | -€269 | -100% |
| Trade debts | 44 | €4,839 | €7,501 | +€2,662 | +55.0% |
| Suppliers | 440/4 | €4,839 | €7,501 | +€2,662 | +55.0% |
| Taxes, remuneration and social security | 45 | €6,505 | €24 | -€6,481 | -99.6% |
| Taxes | 450/3 | €3,000 | €24 | -€2,976 | -99.2% |
| Remuneration and social security | 454/9 | €3,505 | €0 | -€3,505 | -100% |
| Other amounts payable | 47/48 | €2,357 | €21,552 | +€19,195 | +814% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,218 | €12,055 | +€3,837 | +46.7% |
| Other operating charges | 640/8 | €14,505 | €6,744 | -€7,761 | -53.5% |
| Gross operating margin | 9900 | €56,111 | €48,190 | -€7,921 | -14.1% |
| Operating profit (loss) | 9901 | €33,388 | €29,391 | -€3,998 | -12.0% |
| Financial income | 75/76B | €33 | €4,758 | +€4,725 | +14,473% |
| Recurring financial income | 75 | €33 | €4,758 | +€4,725 | +14,473% |
| Financial charges | 65/66B | €405 | €311 | -€94 | -23.1% |
| Recurring financial charges | 65 | €405 | €311 | -€94 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €33,016 | €33,837 | +€821 | +2.5% |
| Income taxes | 67/77 | €19,393 | €6 | -€19,387 | -100.0% |
| Profit (loss) for the period | 9904 | €13,623 | €33,832 | +€20,209 | +148% |
| Profit (loss) for the period to be appropriated | 9905 | €13,623 | €33,832 | +€20,209 | +148% |
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 13 October 2026 via checked.be.