EWB: 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.
EWB
Largest movements
- Tangible fixed assets +€42,609
up €42,609 (+153.5%), from €27,766 to €70,375
of which Leasing and similar rights: +€42,609
- Receivables within one year +€32,930
up €32,930 (+320.2%), from €10,285 to €43,215
of which Trade receivables: +€30,855
- Cash -€21,194
down €21,194 (-82.2%), from €25,768 to €4,574
mainly Investment in fixed assets (net) (-€56,616) and Receivables within one year (-€32,930)
- Debts after one year +€39,609
up €39,609 (+416.1%), from €9,518 to €49,127
- Profit (loss) carried forward +€9,120
up €9,120 (+382.7%), from €2,383 to €11,503
- Tax, wage and social debts +€4,442
up €4,442 (+102.6%), from €4,329 to €8,771
- Current portion of long-term debt +€3,134
up €3,134 (+17.1%), from €18,310 to €21,444
- Trade debts -€1,960
no longer reported in 2025 (was €1,960)
- Gross operating margin +€12,320
up €12,320 (+58.7%), from €20,977 to €33,297
- Taxes +€6,758
new in 2025: €6,758
- Depreciation +€4,182
up €4,182 (+42.6%), from €9,825 to €14,007
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 | €64,819 | €119,164 | +€54,345 | +83.8% |
| Fixed assets | 21/28 | €28,766 | €71,375 | +€42,609 | +148.1% |
| Tangible fixed assets | 22/27 | €27,766 | €70,375 | +€42,609 | +153.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €27,766 | €70,375 | +€42,609 | +153.5% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €36,053 | €47,789 | +€11,736 | +32.6% |
| Amounts receivable within one year | 40/41 | €10,285 | €43,215 | +€32,930 | +320.2% |
| Trade receivables | 40 | €10,285 | €41,140 | +€30,855 | +300.0% |
| Other amounts receivable | 41 | - | €2,075 | +€2,075 | |
| Cash at bank and in hand | 54/58 | €25,768 | €4,574 | -€21,194 | -82.2% |
| Total equity and liabilities | 10/49 | €64,819 | €119,164 | +€54,345 | +83.8% |
| Equity | 10/15 | €30,418 | €39,538 | +€9,120 | +30.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €21,835 | €21,835 | = | 0.0% |
| Distributable reserves | 133 | €21,835 | €21,835 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,383 | €11,503 | +€9,120 | +382.7% |
| Amounts payable | 17/49 | €34,401 | €79,626 | +€45,225 | +131.5% |
| Amounts payable after more than one year | 17 | €9,518 | €49,127 | +€39,609 | +416.1% |
| Financial debts | 170/4 | €9,518 | €49,127 | +€39,609 | +416.1% |
| Amounts payable within one year | 42/48 | €24,883 | €30,215 | +€5,332 | +21.4% |
| Current portion of amounts payable after more than one year | 42 | €18,310 | €21,444 | +€3,134 | +17.1% |
| Trade debts | 44 | €1,960 | - | -€1,960 | |
| Suppliers | 440/4 | €1,960 | - | -€1,960 | |
| Taxes, remuneration and social security | 45 | €4,329 | €8,771 | +€4,442 | +102.6% |
| Taxes | 450/3 | €4,329 | €8,771 | +€4,442 | +102.6% |
| Other amounts payable | 47/48 | €284 | - | -€284 | |
| Accrued charges and deferred income | 492/3 | - | €284 | +€284 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,825 | €14,007 | +€4,182 | +42.6% |
| Other operating charges | 640/8 | €1,212 | €918 | -€294 | -24.3% |
| Gross operating margin | 9900 | €20,977 | €33,297 | +€12,320 | +58.7% |
| Operating profit (loss) | 9901 | €9,940 | €18,372 | +€8,432 | +84.8% |
| Financial charges | 65/66B | €2,300 | €2,494 | +€194 | +8.4% |
| Recurring financial charges | 65 | €2,300 | €2,494 | +€194 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €7,640 | €15,878 | +€8,238 | +107.8% |
| Income taxes | 67/77 | - | €6,758 | +€6,758 | |
| Profit (loss) for the period | 9904 | €7,640 | €9,120 | +€1,480 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,640 | €9,120 | +€1,480 | +19.4% |
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 11 October 2026 via checked.be.