FWProjects: 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.
FWProjects
Largest movements
- Stocks and contracts +€2.6m
up €2.6m (+55.1%), from €4.7m to €7.3m
of which Stocks: +€4.5m
- Receivables within one year +€367,118
up €367,118 (+684.8%), from €53,607 to €420,725
of which Trade receivables: +€403,309
- Short-term financial debts +€2.1m
up €2.1m (+69.8%), from €3.1m to €5.2m
- Debts after one year +€403,913
up €403,913 (+28.8%), from €1.4m to €1.8m
- Advances received +€397,100
up €397,100 (+2647.3%), from €15,000 to €412,100
- Profit (loss) carried forward +€89,794
up €89,794, from -€7,502 to €82,291
- Gross operating margin +€124,182
up €124,182, from -€6,113 to €118,069
- Taxes +€27,430
new in 2025: €27,430
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 | €4,762,403 | €7,733,171 | +€3.0m | +62.4% |
| Current assets | 29/58 | €4,762,403 | €7,733,171 | +€3.0m | +62.4% |
| Stocks and contracts in progress | 3 | €4,704,121 | €7,295,086 | +€2.6m | +55.1% |
| Stocks | 30/36 | - | €4,525,114 | +€4.5m | |
| Contracts in progress | 37 | €4,704,121 | €2,769,972 | -€1.9m | -41.1% |
| Amounts receivable within one year | 40/41 | €53,607 | €420,725 | +€367,118 | +684.8% |
| Trade receivables | 40 | - | €403,309 | +€403,309 | |
| Other amounts receivable | 41 | €53,607 | €17,416 | -€36,191 | -67.5% |
| Cash at bank and in hand | 54/58 | €4,675 | €17,361 | +€12,686 | +271.4% |
| Total equity and liabilities | 10/49 | €4,762,403 | €7,733,171 | +€3.0m | +62.4% |
| Equity | 10/15 | €142,498 | €232,291 | +€89,794 | +63.0% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,502 | €82,291 | +€89,794 | |
| Amounts payable | 17/49 | €4,619,905 | €7,500,880 | +€2.9m | +62.4% |
| Amounts payable after more than one year | 17 | €1,404,047 | €1,807,959 | +€403,913 | +28.8% |
| Other amounts payable | 178/9 | €1,404,047 | €1,807,959 | +€403,913 | +28.8% |
| Amounts payable within one year | 42/48 | €3,215,858 | €5,692,920 | +€2.5m | +77.0% |
| Financial debts | 43 | €3,070,000 | €5,214,000 | +€2.1m | +69.8% |
| Credit institutions | 430/8 | €3,070,000 | €5,214,000 | +€2.1m | +69.8% |
| Trade debts | 44 | €75,726 | €39,390 | -€36,336 | -48.0% |
| Suppliers | 440/4 | €75,726 | €39,390 | -€36,336 | -48.0% |
| Advances received on contracts in progress | 46 | €15,000 | €412,100 | +€397,100 | +2647.3% |
| Taxes, remuneration and social security | 45 | - | €27,430 | +€27,430 | |
| Taxes | 450/3 | - | €27,430 | +€27,430 | |
| Other amounts payable | 47/48 | €55,132 | €0 | -€55,132 | -100.0% |
| Other operating charges | 640/8 | €922 | €400 | -€522 | -56.6% |
| Gross operating margin | 9900 | -€6,113 | €118,069 | +€124,182 | |
| Operating profit (loss) | 9901 | -€7,035 | €117,669 | +€124,704 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €467 | €445 | -€22 | -4.8% |
| Recurring financial charges | 65 | €467 | €445 | -€22 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,502 | €117,224 | +€124,727 | |
| Income taxes | 67/77 | - | €27,430 | +€27,430 | |
| Profit (loss) for the period | 9904 | -€7,502 | €89,794 | +€97,296 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,502 | €89,794 | +€97,296 |
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 3 October 2026 via checked.be.