FWB: 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.
FWB
Largest movements
- Cash +€56,260
up €56,260 (+61.0%), from €92,287 to €148,546
mainly Net result for the year (+€63,034) and Debts after one year (+€16,780)
- Tangible fixed assets +€33,924
up €33,924 (+854%), from €3,970 to €37,895
of which Furniture and vehicles: +€31,246
- Receivables within one year -€5,318
down €5,318 (-41.2%), from €12,908 to €7,590
of which Trade receivables: -€5,648
- Reserves +€63,034
up €63,034 (+38.6%), from €163,509 to €226,543
- Debts after one year +€16,780
new in 2025: €16,780
- Current portion of long-term debt +€7,069
new in 2025: €7,069
- Gross operating margin +€30,791
up €30,791 (+51.0%), from €60,382 to €91,173
- Taxes +€5,085
up €5,085 (+43.9%), from €11,584 to €16,670
- Depreciation +€3,697
up €3,697 (+65.2%), from €5,674 to €9,371
- Financial charges +€940
up €940 (+922%), from €102 to €1,042
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 | €174,165 | €259,336 | +€85,171 | +48.9% |
| Fixed assets | 21/28 | €68,970 | €102,895 | +€33,924 | +49.2% |
| Tangible fixed assets | 22/27 | €3,970 | €37,895 | +€33,924 | +854% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,970 | €35,216 | +€31,246 | +787% |
| Other tangible fixed assets | 26 | - | €2,679 | +€2,679 | |
| Financial fixed assets | 28 | €65,000 | €65,000 | = | 0.0% |
| Current assets | 29/58 | €105,195 | €156,441 | +€51,246 | +48.7% |
| Amounts receivable within one year | 40/41 | €12,908 | €7,590 | -€5,318 | -41.2% |
| Trade receivables | 40 | €12,908 | €7,260 | -€5,648 | -43.8% |
| Other amounts receivable | 41 | €0 | €330 | +€330 | |
| Cash at bank and in hand | 54/58 | €92,287 | €148,546 | +€56,260 | +61.0% |
| Deferred charges and accrued income | 490/1 | - | €305 | +€305 | |
| Total equity and liabilities | 10/49 | €174,165 | €259,336 | +€85,171 | +48.9% |
| Equity | 10/15 | €166,009 | €229,043 | +€63,034 | +38.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €163,509 | €226,543 | +€63,034 | +38.6% |
| Distributable reserves | 133 | €163,509 | €226,543 | +€63,034 | +38.6% |
| Amounts payable | 17/49 | €8,156 | €30,293 | +€22,137 | +271% |
| Amounts payable after more than one year | 17 | - | €16,780 | +€16,780 | |
| Financial debts | 170/4 | - | €16,780 | +€16,780 | |
| Amounts payable within one year | 42/48 | €8,156 | €13,513 | +€5,357 | +65.7% |
| Current portion of amounts payable after more than one year | 42 | - | €7,069 | +€7,069 | |
| Trade debts | 44 | €138 | €367 | +€229 | +166% |
| Suppliers | 440/4 | €138 | €367 | +€229 | +166% |
| Taxes, remuneration and social security | 45 | €8,018 | €6,077 | -€1,941 | -24.2% |
| Taxes | 450/3 | €8,018 | €6,077 | -€1,941 | -24.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,207 | €0 | -€1,207 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,674 | €9,371 | +€3,697 | +65.2% |
| Other operating charges | 640/8 | €667 | €1,063 | +€395 | +59.3% |
| Gross operating margin | 9900 | €60,382 | €91,173 | +€30,791 | +51.0% |
| Operating profit (loss) | 9901 | €54,040 | €80,739 | +€26,699 | +49.4% |
| Financial income | 75/76B | €0 | €7 | +€7 | +2,852% |
| Recurring financial income | 75 | €0 | €7 | +€7 | +2,852% |
| Financial charges | 65/66B | €102 | €1,042 | +€940 | +922% |
| Recurring financial charges | 65 | €102 | €1,042 | +€940 | +922% |
| Profit (loss) for the period before taxes | 9903 | €53,938 | €79,704 | +€25,765 | +47.8% |
| Income taxes | 67/77 | €11,584 | €16,670 | +€5,085 | +43.9% |
| Profit (loss) for the period | 9904 | €42,354 | €63,034 | +€20,680 | +48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €42,354 | €63,034 | +€20,680 | +48.8% |
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 18 October 2026 via checked.be.