FW32: 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.
FW32
Largest movements
- Receivables within one year -€32,232
down €32,232 (-27.1%), from €118,912 to €86,680
of which Trade receivables: -€26,154
- Tangible fixed assets -€7,456
down €7,456 (-31.5%), from €23,692 to €16,236
of which Furniture and vehicles: -€7,456
- Profit (loss) carried forward -€50,616
down €50,616 (-54.5%), from €92,824 to €42,208
- Tax, wage and social debts +€12,658
up €12,658 (+67.3%), from €18,797 to €31,455
of which Taxes: +€10,949
- Other debts +€6,401
up €6,401 (+47.6%), from €13,459 to €19,861
- Trade debts -€5,730
down €5,730 (-37.5%), from €15,275 to €9,545
- Debts after one year -€5,581
down €5,581 (-47.0%), from €11,868 to €6,287
- Gross operating margin -€87,895
down €87,895, from €80,256 to -€7,639
- Taxes -€11,889
down €11,889 (-99.1%), from €11,995 to €106
- Staff costs +€4,513
up €4,513 (+14.8%), from €30,518 to €35,031
- Depreciation +€1,217
up €1,217 (+19.5%), from €6,240 to €7,456
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 | €294,566 | €251,893 | -€42,673 | -14.5% |
| Fixed assets | 21/28 | €95,404 | €87,948 | -€7,456 | -7.8% |
| Tangible fixed assets | 22/27 | €23,692 | €16,236 | -€7,456 | -31.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €23,692 | €16,236 | -€7,456 | -31.5% |
| Financial fixed assets | 28 | €71,712 | €71,712 | = | 0.0% |
| Current assets | 29/58 | €199,162 | €163,944 | -€35,217 | -17.7% |
| Amounts receivable within one year | 40/41 | €118,912 | €86,680 | -€32,232 | -27.1% |
| Trade receivables | 40 | €49,766 | €23,611 | -€26,154 | -52.6% |
| Other amounts receivable | 41 | €69,146 | €63,068 | -€6,078 | -8.8% |
| Cash at bank and in hand | 54/58 | €79,752 | €76,880 | -€2,871 | -3.6% |
| Deferred charges and accrued income | 490/1 | €498 | €385 | -€114 | -22.8% |
| Total equity and liabilities | 10/49 | €294,566 | €251,893 | -€42,673 | -14.5% |
| Equity | 10/15 | €226,392 | €175,777 | -€50,616 | -22.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €121,169 | €121,169 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €119,309 | €119,309 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,824 | €42,208 | -€50,616 | -54.5% |
| Amounts payable | 17/49 | €68,174 | €76,116 | +€7,942 | +11.7% |
| Amounts payable after more than one year | 17 | €11,868 | €6,287 | -€5,581 | -47.0% |
| Financial debts | 170/4 | €11,868 | €6,287 | -€5,581 | -47.0% |
| Amounts payable within one year | 42/48 | €56,306 | €69,829 | +€13,524 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €8,774 | €8,969 | +€195 | +2.2% |
| Trade debts | 44 | €15,275 | €9,545 | -€5,730 | -37.5% |
| Suppliers | 440/4 | €15,275 | €9,545 | -€5,730 | -37.5% |
| Taxes, remuneration and social security | 45 | €18,797 | €31,455 | +€12,658 | +67.3% |
| Taxes | 450/3 | €11,891 | €22,839 | +€10,949 | +92.1% |
| Remuneration and social security | 454/9 | €6,907 | €8,616 | +€1,710 | +24.8% |
| Other amounts payable | 47/48 | €13,459 | €19,861 | +€6,401 | +47.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €30,518 | €35,031 | +€4,513 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,240 | €7,456 | +€1,217 | +19.5% |
| Other operating charges | 640/8 | €1,416 | €1,046 | -€370 | -26.1% |
| Non-recurring operating charges | 66A | €1,604 | €0 | -€1,604 | -100.0% |
| Gross operating margin | 9900 | €80,256 | -€7,639 | -€87,895 | |
| Operating profit (loss) | 9901 | €40,478 | -€51,173 | -€91,651 | |
| Financial income | 75/76B | €1,203 | €1,766 | +€563 | +46.8% |
| Recurring financial income | 75 | €1,203 | €1,766 | +€563 | +46.8% |
| Financial charges | 65/66B | €1,686 | €1,103 | -€582 | -34.5% |
| Recurring financial charges | 65 | €1,686 | €1,103 | -€582 | -34.5% |
| Profit (loss) for the period before taxes | 9903 | €39,996 | -€50,510 | -€90,506 | |
| Income taxes | 67/77 | €11,995 | €106 | -€11,889 | -99.1% |
| Profit (loss) for the period | 9904 | €28,001 | -€50,616 | -€78,617 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,001 | -€50,616 | -€78,617 |
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 2 October 2026 via checked.be.