EW Projects: 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.
EW Projects
Largest movements
- Cash +€46,435
up €46,435 (+234%), from €19,856 to €66,291
mainly Net result for the year (+€61,564) and Other debts (+€1,666)
- Receivables within one year +€13,291
up €13,291 (+89.1%), from €14,918 to €28,209
of which Other amounts receivable: +€12,904
- Tangible fixed assets +€1,943
up €1,943 (+122%), from €1,590 to €3,533
of which Furniture and vehicles: +€2,542
- Deferred charges and accrued income +€1,727
up €1,727 (+336%), from €514 to €2,241
- Reserves +€59,898
up €59,898 (+263%), from €22,782 to €82,679
- Other debts +€1,666
new in 2025: €1,666
- Trade debts +€1,290
up €1,290 (+111%), from €1,167 to €2,457
- Gross operating margin +€53,517
up €53,517 (+175%), from €30,592 to €84,109
- Taxes +€11,995
up €11,995 (+191%), from €6,288 to €18,283
- Financial charges +€1,577
up €1,577 (+151%), from €1,046 to €2,624
- Depreciation +€1,286
up €1,286 (+616%), from €209 to €1,495
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 | €36,878 | €100,273 | +€63,396 | +172% |
| Fixed assets | 21/28 | €1,590 | €3,533 | +€1,943 | +122% |
| Tangible fixed assets | 22/27 | €1,590 | €3,533 | +€1,943 | +122% |
| Furniture and vehicles | 24 | - | €2,542 | +€2,542 | |
| Other tangible fixed assets | 26 | €1,590 | €991 | -€600 | -37.7% |
| Current assets | 29/58 | €35,287 | €96,740 | +€61,453 | +174% |
| Amounts receivable within one year | 40/41 | €14,918 | €28,209 | +€13,291 | +89.1% |
| Trade receivables | 40 | €14,520 | €14,906 | +€386 | +2.7% |
| Other amounts receivable | 41 | €398 | €13,303 | +€12,904 | +3,241% |
| Cash at bank and in hand | 54/58 | €19,856 | €66,291 | +€46,435 | +234% |
| Deferred charges and accrued income | 490/1 | €514 | €2,241 | +€1,727 | +336% |
| Total equity and liabilities | 10/49 | €36,878 | €100,273 | +€63,396 | +172% |
| Equity | 10/15 | €25,782 | €85,679 | +€59,898 | +232% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €22,782 | €82,679 | +€59,898 | +263% |
| Distributable reserves | 133 | €22,782 | €82,679 | +€59,898 | +263% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €11,096 | €14,594 | +€3,498 | +31.5% |
| Amounts payable within one year | 42/48 | €10,997 | €14,594 | +€3,597 | +32.7% |
| Trade debts | 44 | €1,167 | €2,457 | +€1,290 | +111% |
| Suppliers | 440/4 | €1,167 | €2,457 | +€1,290 | +111% |
| Taxes, remuneration and social security | 45 | €9,830 | €10,471 | +€641 | +6.5% |
| Taxes | 450/3 | €9,830 | €10,471 | +€641 | +6.5% |
| Other amounts payable | 47/48 | - | €1,666 | +€1,666 | |
| Accrued charges and deferred income | 492/3 | €99 | €0 | -€99 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €209 | €1,495 | +€1,286 | +616% |
| Other operating charges | 640/8 | €268 | €611 | +€343 | +128% |
| Gross operating margin | 9900 | €30,592 | €84,109 | +€53,517 | +175% |
| Operating profit (loss) | 9901 | €30,116 | €82,003 | +€51,887 | +172% |
| Financial income | 75/76B | - | €468 | +€468 | |
| Recurring financial income | 75 | - | €468 | +€468 | |
| Financial charges | 65/66B | €1,046 | €2,624 | +€1,577 | +151% |
| Recurring financial charges | 65 | €1,046 | €2,624 | +€1,577 | +151% |
| Profit (loss) for the period before taxes | 9903 | €29,070 | €79,847 | +€50,777 | +175% |
| Income taxes | 67/77 | €6,288 | €18,283 | +€11,995 | +191% |
| Profit (loss) for the period | 9904 | €22,782 | €61,564 | +€38,782 | +170% |
| Profit (loss) for the period to be appropriated | 9905 | €22,782 | €61,564 | +€38,782 | +170% |
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 29 October 2026 via checked.be.