EWG MANAGEMENT: 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.
EWG MANAGEMENT
Largest movements
- Receivables after one year +€40,349
up €40,349 (+60.5%), from €66,698 to €107,047
- Cash +€4,024
up €4,024 (+240%), from €1,675 to €5,699
mainly Net result for the year (+€37,714) and Tax, wage and social debts (+€4,376)
- Receivables within one year -€2,291
down €2,291 (-14.9%), from €15,359 to €13,068
- Profit (loss) carried forward +€37,714
up €37,714 (+61.4%), from €61,390 to €99,104
- Tax, wage and social debts +€4,376
up €4,376 (+27.1%), from €16,134 to €20,510
- Gross operating margin +€5,966
up €5,966 (+13.7%), from €43,675 to €49,641
- Financial income -€2,304
down €2,304 (-99.9%), from €2,307 to €3
of which Financial income: -€2,027
- Taxes +€1,419
up €1,419 (+14.8%), from €9,581 to €11,000
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 | €84,391 | €125,814 | +€41,423 | +49.1% |
| Fixed assets | 21/28 | €387 | - | -€387 | |
| Tangible fixed assets | 22/27 | €387 | - | -€387 | |
| Furniture and vehicles | 24 | €387 | - | -€387 | |
| Current assets | 29/58 | €84,004 | €125,814 | +€41,810 | +49.8% |
| Amounts receivable after more than one year | 29 | €66,698 | €107,047 | +€40,349 | +60.5% |
| Other amounts receivable | 291 | €66,698 | €107,047 | +€40,349 | +60.5% |
| Amounts receivable within one year | 40/41 | €15,359 | €13,068 | -€2,291 | -14.9% |
| Trade receivables | 40 | €15,359 | €13,068 | -€2,291 | -14.9% |
| Cash at bank and in hand | 54/58 | €1,675 | €5,699 | +€4,024 | +240% |
| Deferred charges and accrued income | 490/1 | €272 | - | -€272 | |
| Total equity and liabilities | 10/49 | €84,391 | €125,814 | +€41,423 | +49.1% |
| Equity | 10/15 | €66,390 | €104,104 | +€37,714 | +56.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,390 | €99,104 | +€37,714 | +61.4% |
| Amounts payable | 17/49 | €18,001 | €21,710 | +€3,709 | +20.6% |
| Amounts payable within one year | 42/48 | €18,001 | €21,710 | +€3,709 | +20.6% |
| Trade debts | 44 | €1,867 | €1,200 | -€667 | -35.7% |
| Suppliers | 440/4 | €1,867 | €1,200 | -€667 | -35.7% |
| Taxes, remuneration and social security | 45 | €16,134 | €20,510 | +€4,376 | +27.1% |
| Taxes | 450/3 | €16,134 | €20,510 | +€4,376 | +27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €472 | €387 | -€85 | -18.0% |
| Other operating charges | 640/8 | €60 | €296 | +€236 | +393% |
| Gross operating margin | 9900 | €43,675 | €49,641 | +€5,966 | +13.7% |
| Operating profit (loss) | 9901 | €43,143 | €48,958 | +€5,815 | +13.5% |
| Financial income | 75/76B | €2,307 | €3 | -€2,304 | -99.9% |
| Recurring financial income | 75 | €2,030 | €3 | -€2,027 | -99.9% |
| Non-recurring financial income | 76B | €277 | - | -€277 | |
| Financial charges | 65/66B | €193 | €247 | +€54 | +28.0% |
| Recurring financial charges | 65 | €193 | €247 | +€54 | +28.0% |
| Profit (loss) for the period before taxes | 9903 | €45,257 | €48,714 | +€3,457 | +7.6% |
| Income taxes | 67/77 | €9,581 | €11,000 | +€1,419 | +14.8% |
| Profit (loss) for the period | 9904 | €35,676 | €37,714 | +€2,038 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €35,676 | €37,714 | +€2,038 | +5.7% |
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 13 October 2026 via checked.be.