EWG: what changed
What changed
EWG
NACE 70.100, Activities of head offices
filed annual accounts (NBB)
Net result for the year
€37,236
2024 · -€6,156+€43,392
Equity
-€53,746
2024 · -€90,982+€37,236
Cash
€10,141
2024 · €29,683-€19,542
Balance sheet total
€9.4m
2024 · €9.3m+€162,289
Largest movements
Assets
- Receivables within one year +€155,644
up €155,644 (+105%), from €148,369 to €304,014
of which Trade receivables: +€95,598
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Turnover +€781,747
new in 2025: €781,747
- Services and other goods +€519,760
new in 2025: €519,760
- Gross operating margin -€189,967
no longer reported in 2025 (was €189,967)
- Staff costs +€33,115
up €33,115 (+17.8%), from €185,595 to €218,709
- Other operating income +€15,055
new in 2025: €15,055
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€6,156
Turnover
+€781,747
Other operating income
+€15,055
Goods and materials
+€3,405
Services and other goods
-€519,760
Staff costs
-€33,115
Depreciation
-€2,154
Write-downs
+€3,354
Other operating charges
-€12,063
Other operating items
-€189,967
Financial income
-€1,308
Financial charges
-€1,886
Taxes
+€83
Result 2025
€37,236
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€767
Investment
-€22,550
Financing
+€2,241
Cash 2024
€29,683
From operations (derived)
+€767
Net result for the year
+€37,236
Depreciation
+€2,411
Stocks and contracts
-€3,405
Receivables within one year
-€155,644
Deferred charges and accrued income
-€2,642
Trade debts
+€18,285
Tax, wage and social debts
+€9,355
Other debts
+€92,500
Accrued charges and deferred income
+€2,672
Investment (derived)
-€22,550
Investment in fixed assets (net)
-€22,550
Financing
+€2,241
Current portion of long-term debt
+€2,241
Cash 2025
€10,141
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,253,921 | €9,416,210 | +€162,289 | +1.8% |
| Fixed assets | 21/28 | €9,027,036 | €9,047,175 | +€20,139 | +0.2% |
| Intangible fixed assets | 21 | - | €20,420 | +€20,420 | |
| Tangible fixed assets | 22/27 | €1,005 | €725 | -€281 | -27.9% |
| Furniture and vehicles | 24 | €1,005 | €725 | -€281 | -27.9% |
| Financial fixed assets | 28 | €9,026,031 | €9,026,031 | = | 0.0% |
| Affiliated companies | 280/1 | - | €9,026,031 | +€9.0m | |
| Participating interests | 280 | - | €9,026,031 | +€9.0m | |
| Current assets | 29/58 | €226,885 | €369,034 | +€142,150 | +62.7% |
| Stocks and contracts in progress | 3 | €5,364 | €8,769 | +€3,405 | +63.5% |
| Stocks | 30/36 | €5,364 | €8,769 | +€3,405 | +63.5% |
| Goods purchased for resale | 34 | - | €8,769 | +€8,769 | |
| Amounts receivable within one year | 40/41 | €148,369 | €304,014 | +€155,644 | +105% |
| Trade receivables | 40 | €68,003 | €163,601 | +€95,598 | +141% |
| Other amounts receivable | 41 | €80,366 | €140,412 | +€60,046 | +74.7% |
| Cash at bank and in hand | 54/58 | €29,683 | €10,141 | -€19,542 | -65.8% |
| Deferred charges and accrued income | 490/1 | €43,468 | €46,110 | +€2,642 | +6.1% |
| Total equity and liabilities | 10/49 | €9,253,921 | €9,416,210 | +€162,289 | +1.8% |
| Equity | 10/15 | -€90,982 | -€53,746 | +€37,236 | +40.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€110,982 | -€73,746 | +€37,236 | +33.6% |
| Amounts payable | 17/49 | €9,344,903 | €9,469,955 | +€125,053 | +1.3% |
| Amounts payable after more than one year | 17 | €6,526,031 | €6,526,031 | = | 0.0% |
| Financial debts | 170/4 | €6,526,031 | €6,526,031 | = | 0.0% |
| Subordinated loans | 170 | - | €6,526,031 | +€6.5m | |
| Amounts payable within one year | 42/48 | €2,771,256 | €2,893,636 | +€122,381 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €18,136 | €20,377 | +€2,241 | +12.4% |
| Trade debts | 44 | €177,443 | €195,728 | +€18,285 | +10.3% |
| Suppliers | 440/4 | €177,443 | €195,728 | +€18,285 | +10.3% |
| Taxes, remuneration and social security | 45 | €75,677 | €85,031 | +€9,355 | +12.4% |
| Taxes | 450/3 | €41,287 | €36,268 | -€5,019 | -12.2% |
| Remuneration and social security | 454/9 | €34,390 | €48,763 | +€14,374 | +41.8% |
| Other amounts payable | 47/48 | €2,500,000 | €2,592,500 | +€92,500 | +3.7% |
| Accrued charges and deferred income | 492/3 | €47,616 | €50,288 | +€2,672 | +5.6% |
| Operating income | 70/76A | - | €796,801 | +€796,801 | |
| Turnover | 70 | - | €781,747 | +€781,747 | |
| Other operating income | 74 | - | €15,055 | +€15,055 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | - | €750,720 | +€750,720 | |
| Goods for resale, raw materials and consumables | 60 | - | -€3,405 | -€3,405 | |
| Change in stocks: decrease (increase) | 609 | - | -€3,405 | -€3,405 | |
| Services and other goods | 61 | - | €519,760 | +€519,760 | |
| Remuneration, social security and pensions | 62 | €185,595 | €218,709 | +€33,115 | +17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €257 | €2,411 | +€2,154 | +837% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,354 | €0 | -€3,354 | -100% |
| Other operating charges | 640/8 | €1,183 | €13,246 | +€12,063 | +1,020% |
| Gross operating margin | 9900 | €189,967 | - | -€189,967 | |
| Operating profit (loss) | 9901 | -€422 | €46,081 | +€46,503 | |
| Financial income | 75/76B | €1,345 | €37 | -€1,308 | -97.2% |
| Recurring financial income | 75 | €1,345 | €37 | -€1,308 | -97.2% |
| Other financial income | 752/9 | - | €37 | +€37 | |
| Financial charges | 65/66B | €6,644 | €8,530 | +€1,886 | +28.4% |
| Recurring financial charges | 65 | €6,644 | €8,530 | +€1,886 | +28.4% |
| Debt charges | 650 | - | €8,298 | +€8,298 | |
| Other financial charges | 652/9 | - | €233 | +€233 | |
| Profit (loss) for the period before taxes | 9903 | -€5,721 | €37,588 | +€43,308 | |
| Income taxes | 67/77 | €435 | €352 | -€83 | -19.1% |
| Taxes | 670/3 | - | €352 | +€352 | |
| Profit (loss) for the period | 9904 | -€6,156 | €37,236 | +€43,392 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,156 | €37,236 | +€43,392 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.