Ewaes: 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.
Ewaes
Largest movements
- Cash +€65,966
up €65,966 (+102.7%), from €64,236 to €130,202
mainly Net result for the year (+€50,098) and Receivables within one year (+€13,624)
- Receivables within one year -€13,624
down €13,624 (-48.7%), from €27,951 to €14,326
of which Trade receivables: -€24,100
- Tangible fixed assets -€3,262
down €3,262 (-69.5%), from €4,691 to €1,429
- Reserves +€50,098
up €50,098 (+65.8%), from €76,107 to €126,205
- Gross operating margin -€30,472
down €30,472 (-28.9%), from €105,335 to €74,864
- Taxes -€6,826
down €6,826 (-24.7%), from €27,599 to €20,773
- Depreciation -€6,338
down €6,338 (-66.0%), from €9,600 to €3,262
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 | €98,050 | €147,481 | +€49,431 | +50.4% |
| Fixed assets | 21/28 | €4,691 | €1,429 | -€3,262 | -69.5% |
| Tangible fixed assets | 22/27 | €4,691 | €1,429 | -€3,262 | -69.5% |
| Furniture and vehicles | 24 | €4,691 | €1,429 | -€3,262 | -69.5% |
| Current assets | 29/58 | €93,359 | €146,051 | +€52,693 | +56.4% |
| Amounts receivable within one year | 40/41 | €27,951 | €14,326 | -€13,624 | -48.7% |
| Trade receivables | 40 | €24,100 | - | -€24,100 | |
| Other amounts receivable | 41 | €3,851 | €14,326 | +€10,476 | +272.0% |
| Cash at bank and in hand | 54/58 | €64,236 | €130,202 | +€65,966 | +102.7% |
| Deferred charges and accrued income | 490/1 | €1,172 | €1,523 | +€351 | +30.0% |
| Total equity and liabilities | 10/49 | €98,050 | €147,481 | +€49,431 | +50.4% |
| Equity | 10/15 | €76,107 | €126,205 | +€50,098 | +65.8% |
| Reserves | 13 | €76,107 | €126,205 | +€50,098 | +65.8% |
| Distributable reserves | 133 | €76,107 | €126,205 | +€50,098 | +65.8% |
| Amounts payable | 17/49 | €21,943 | €21,276 | -€667 | -3.0% |
| Amounts payable within one year | 42/48 | €21,943 | €21,276 | -€667 | -3.0% |
| Trade debts | 44 | €191 | €858 | +€668 | +350.4% |
| Suppliers | 440/4 | €191 | €858 | +€668 | +350.4% |
| Taxes, remuneration and social security | 45 | €19,620 | €19,418 | -€202 | -1.0% |
| Taxes | 450/3 | €19,620 | €19,418 | -€202 | -1.0% |
| Other amounts payable | 47/48 | €2,132 | €999 | -€1,132 | -53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,600 | €3,262 | -€6,338 | -66.0% |
| Other operating charges | 640/8 | €946 | €692 | -€254 | -26.9% |
| Gross operating margin | 9900 | €105,335 | €74,864 | -€30,472 | -28.9% |
| Operating profit (loss) | 9901 | €94,789 | €70,910 | -€23,879 | -25.2% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €42 | €42 | +€0 | +0.7% |
| Recurring financial charges | 65 | €42 | €42 | +€0 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €94,747 | €70,870 | -€23,877 | -25.2% |
| Income taxes | 67/77 | €27,599 | €20,773 | -€6,826 | -24.7% |
| Profit (loss) for the period | 9904 | €67,149 | €50,098 | -€17,051 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €67,149 | €50,098 | -€17,051 | -25.4% |
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 5 October 2026 via checked.be.