EUROWHEEL: 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.
EUROWHEEL
Largest movements
- Receivables within one year +€187,070
up €187,070 (+11.7%), from €1.6m to €1.8m
of which Other amounts receivable: +€315,658
- Cash -€86,754
down €86,754 (-35.8%), from €242,579 to €155,825
mainly Receivables within one year (-€187,070) and Investment in fixed assets (net) (-€60,019)
- Tangible fixed assets -€51,565
down €51,565 (-7.8%), from €662,713 to €611,148
of which Assets under construction and advance payments: -€35,677
- Profit (loss) carried forward -€294,128
down €294,128, from €280,327 to -€13,801
- Reserves +€280,327
up €280,327 (+11.4%), from €2.5m to €2.7m
of which Distributable reserves: +€280,327
- Trade debts +€35,716
up €35,716 (+16.0%), from €223,092 to €258,808
- Gross operating margin -€368,192
down €368,192 (-22.5%), from €1.6m to €1.3m
- Taxes -€98,993
down €98,993 (-98.1%), from €100,882 to €1,889
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,173,209 | €3,203,754 | +€30,545 | +1.0% |
| Fixed assets | 21/28 | €693,262 | €640,388 | -€52,874 | -7.6% |
| Intangible fixed assets | 21 | €3,245 | €1,793 | -€1,452 | -44.7% |
| Tangible fixed assets | 22/27 | €662,713 | €611,148 | -€51,565 | -7.8% |
| Land and buildings | 22 | €148,914 | €145,084 | -€3,830 | -2.6% |
| Plant, machinery and equipment | 23 | €451,436 | €437,644 | -€13,792 | -3.1% |
| Furniture and vehicles | 24 | €26,686 | €28,420 | +€1,734 | +6.5% |
| Assets under construction and advance payments | 27 | €35,677 | - | -€35,677 | |
| Financial fixed assets | 28 | €27,304 | €27,447 | +€143 | +0.5% |
| Current assets | 29/58 | €2,479,947 | €2,563,366 | +€83,419 | +3.4% |
| Stocks and contracts in progress | 3 | €619,910 | €601,346 | -€18,564 | -3.0% |
| Stocks | 30/36 | €619,910 | €601,346 | -€18,564 | -3.0% |
| Amounts receivable within one year | 40/41 | €1,600,922 | €1,787,992 | +€187,070 | +11.7% |
| Trade receivables | 40 | €707,403 | €578,815 | -€128,588 | -18.2% |
| Other amounts receivable | 41 | €893,519 | €1,209,177 | +€315,658 | +35.3% |
| Cash at bank and in hand | 54/58 | €242,579 | €155,825 | -€86,754 | -35.8% |
| Deferred charges and accrued income | 490/1 | €16,536 | €18,203 | +€1,667 | +10.1% |
| Total equity and liabilities | 10/49 | €3,173,209 | €3,203,754 | +€30,545 | +1.0% |
| Equity | 10/15 | €2,767,239 | €2,753,438 | -€13,801 | -0.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €2,468,362 | €2,748,689 | +€280,327 | +11.4% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €2,453,362 | €2,733,689 | +€280,327 | +11.4% |
| Profit (loss) carried forward | 14 | €280,327 | -€13,801 | -€294,128 | |
| Amounts payable | 17/49 | €405,970 | €450,316 | +€44,346 | +10.9% |
| Amounts payable within one year | 42/48 | €373,542 | €404,820 | +€31,278 | +8.4% |
| Trade debts | 44 | €223,092 | €258,808 | +€35,716 | +16.0% |
| Suppliers | 440/4 | €223,092 | €258,808 | +€35,716 | +16.0% |
| Taxes, remuneration and social security | 45 | €150,450 | €146,012 | -€4,438 | -2.9% |
| Taxes | 450/3 | €1,053 | - | -€1,053 | |
| Remuneration and social security | 454/9 | €149,397 | €146,012 | -€3,385 | -2.3% |
| Accrued charges and deferred income | 492/3 | €32,428 | €45,496 | +€13,068 | +40.3% |
| Remuneration, social security and pensions | 62 | €1,167,393 | €1,178,130 | +€10,737 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,290 | €112,893 | +€7,603 | +7.2% |
| Other operating charges | 640/8 | €2,695 | €4,704 | +€2,009 | +74.5% |
| Gross operating margin | 9900 | €1,636,117 | €1,267,925 | -€368,192 | -22.5% |
| Operating profit (loss) | 9901 | €360,739 | -€27,802 | -€388,541 | |
| Financial income | 75/76B | €28,973 | €24,606 | -€4,367 | -15.1% |
| Recurring financial income | 75 | €28,973 | €22,925 | -€6,048 | -20.9% |
| Non-recurring financial income | 76B | - | €1,681 | +€1,681 | |
| Financial charges | 65/66B | €8,503 | €8,716 | +€213 | +2.5% |
| Recurring financial charges | 65 | €8,503 | €8,716 | +€213 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €381,209 | -€11,912 | -€393,121 | |
| Income taxes | 67/77 | €100,882 | €1,889 | -€98,993 | -98.1% |
| Profit (loss) for the period | 9904 | €280,327 | -€13,801 | -€294,128 | |
| Profit (loss) for the period to be appropriated | 9905 | €280,327 | -€13,801 | -€294,128 |
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.