EWSA: 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.
EWSA
Largest movements
- Cash -€27,920
down €27,920 (-87.6%), from €31,870 to €3,951
mainly Net result for the year (-€25,853) and Debts after one year (-€9,919)
- Tangible fixed assets -€19,411
down €19,411 (-21.8%), from €88,912 to €69,501
of which Furniture and vehicles: -€20,756
- Reserves -€25,853
down €25,853 (-46.2%), from €55,988 to €30,134
- Debts after one year -€9,919
down €9,919 (-22.4%), from €44,329 to €34,409
- Other debts -€4,943
down €4,943 (-62.3%), from €7,929 to €2,986
- Tax, wage and social debts -€3,590
down €3,590 (-50.2%), from €7,150 to €3,560
- Current portion of long-term debt -€1,675
down €1,675 (-18.7%), from €8,953 to €7,278
- Gross operating margin -€43,090
down €43,090, from €42,951 to -€139
- Taxes -€3,965
no longer reported in 2025 (was €3,965)
- Depreciation +€3,310
up €3,310 (+17.4%), from €19,003 to €22,313
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 | €144,223 | €98,089 | -€46,134 | -32.0% |
| Fixed assets | 21/28 | €93,562 | €74,151 | -€19,411 | -20.7% |
| Tangible fixed assets | 22/27 | €88,912 | €69,501 | -€19,411 | -21.8% |
| Plant, machinery and equipment | 23 | €1,325 | €1,967 | +€643 | +48.5% |
| Furniture and vehicles | 24 | €83,969 | €63,213 | -€20,756 | -24.7% |
| Other tangible fixed assets | 26 | €3,619 | €4,321 | +€702 | +19.4% |
| Financial fixed assets | 28 | €4,650 | €4,650 | = | 0.0% |
| Current assets | 29/58 | €50,661 | €23,937 | -€26,723 | -52.7% |
| Amounts receivable within one year | 40/41 | €18,730 | €19,987 | +€1,256 | +6.7% |
| Trade receivables | 40 | €18,630 | €12,887 | -€5,744 | -30.8% |
| Other amounts receivable | 41 | €100 | €7,100 | +€7,000 | +7000.0% |
| Cash at bank and in hand | 54/58 | €31,870 | €3,951 | -€27,920 | -87.6% |
| Deferred charges and accrued income | 490/1 | €60 | - | -€60 | |
| Total equity and liabilities | 10/49 | €144,223 | €98,089 | -€46,134 | -32.0% |
| Equity | 10/15 | €74,588 | €48,734 | -€25,853 | -34.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,988 | €30,134 | -€25,853 | -46.2% |
| Distributable reserves | 133 | €55,988 | €30,134 | -€25,853 | -46.2% |
| Amounts payable | 17/49 | €69,635 | €49,354 | -€20,281 | -29.1% |
| Amounts payable after more than one year | 17 | €44,329 | €34,409 | -€9,919 | -22.4% |
| Financial debts | 170/4 | €44,329 | €34,409 | -€9,919 | -22.4% |
| Amounts payable within one year | 42/48 | €25,307 | €14,945 | -€10,362 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €8,953 | €7,278 | -€1,675 | -18.7% |
| Trade debts | 44 | €1,275 | €1,121 | -€154 | -12.1% |
| Suppliers | 440/4 | €1,275 | €1,121 | -€154 | -12.1% |
| Taxes, remuneration and social security | 45 | €7,150 | €3,560 | -€3,590 | -50.2% |
| Taxes | 450/3 | €7,150 | €3,560 | -€3,590 | -50.2% |
| Other amounts payable | 47/48 | €7,929 | €2,986 | -€4,943 | -62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,003 | €22,313 | +€3,310 | +17.4% |
| Other operating charges | 640/8 | €1,080 | €953 | -€127 | -11.8% |
| Non-recurring operating charges | 66A | €990 | - | -€990 | |
| Gross operating margin | 9900 | €42,951 | -€139 | -€43,090 | |
| Operating profit (loss) | 9901 | €21,878 | -€23,405 | -€45,282 | |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €2,620 | €2,458 | -€161 | -6.2% |
| Recurring financial charges | 65 | €2,620 | €2,458 | -€161 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €19,258 | -€25,853 | -€45,111 | |
| Income taxes | 67/77 | €3,965 | - | -€3,965 | |
| Profit (loss) for the period | 9904 | €15,293 | -€25,853 | -€41,146 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,293 | -€25,853 | -€41,146 |
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 12 October 2026 via checked.be.