G.W.P.: what changed
G.W.P.
Largest movements
- Receivables after one year +€23,000
new in 2025: €23,000
- Cash +€22,532
up €22,532 (+40.3%), from €55,879 to €78,411
mainly Net result for the year (+€37,963) and Receivables within one year (+€11,155)
- Receivables within one year -€11,155
down €11,155 (-37.0%), from €30,148 to €18,993
of which Other amounts receivable: -€7,776
- Tangible fixed assets -€6,361
down €6,361 (-30.2%), from €21,093 to €14,732
- Deferred charges and accrued income -€2,492
down €2,492 (-91.6%), from €2,722 to €230
- Reserves +€18,554
up €18,554 (+24.8%), from €74,847 to €93,401
- Trade debts +€7,550
up €7,550 (+127%), from €5,958 to €13,508
- Debts after one year -€7,190
down €7,190 (-51.4%), from €13,996 to €6,806
- Tax, wage and social debts +€6,372
up €6,372 (+206%), from €3,089 to €9,461
of which Taxes: +€6,350
- Gross operating margin +€61,651
up €61,651 (+110%), from €55,807 to €117,457
- Staff costs +€36,426
up €36,426 (+190%), from €19,122 to €55,549
- Taxes +€7,582
up €7,582 (+104%), from €7,268 to €14,850
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €109,842 | €135,366 | +€25,524 | +23.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €21,093 | €14,732 | -€6,361 | -30.2% |
| Tangible fixed assets | 22/27 | €21,093 | €14,732 | -€6,361 | -30.2% |
| Furniture and vehicles | 24 | €21,093 | €14,732 | -€6,361 | -30.2% |
| Current assets | 29/58 | €88,749 | €120,634 | +€31,885 | +35.9% |
| Amounts receivable after more than one year | 29 | - | €23,000 | +€23,000 | |
| Other amounts receivable | 291 | - | €23,000 | +€23,000 | |
| Amounts receivable within one year | 40/41 | €30,148 | €18,993 | -€11,155 | -37.0% |
| Trade receivables | 40 | €14,034 | €10,655 | -€3,379 | -24.1% |
| Other amounts receivable | 41 | €16,113 | €8,338 | -€7,776 | -48.3% |
| Cash at bank and in hand | 54/58 | €55,879 | €78,411 | +€22,532 | +40.3% |
| Deferred charges and accrued income | 490/1 | €2,722 | €230 | -€2,492 | -91.6% |
| Total equity and liabilities | 10/49 | €109,842 | €135,366 | +€25,524 | +23.2% |
| Equity | 10/15 | €79,847 | €98,401 | +€18,554 | +23.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €74,847 | €93,401 | +€18,554 | +24.8% |
| Distributable reserves | 133 | €74,847 | €93,401 | +€18,554 | +24.8% |
| Amounts payable | 17/49 | €29,995 | €36,965 | +€6,970 | +23.2% |
| Amounts payable after more than one year | 17 | €13,996 | €6,806 | -€7,190 | -51.4% |
| Financial debts | 170/4 | €13,996 | €6,806 | -€7,190 | -51.4% |
| Amounts payable within one year | 42/48 | €15,999 | €30,159 | +€14,160 | +88.5% |
| Current portion of amounts payable after more than one year | 42 | €6,952 | €7,190 | +€238 | +3.4% |
| Trade debts | 44 | €5,958 | €13,508 | +€7,550 | +127% |
| Suppliers | 440/4 | €5,958 | €13,508 | +€7,550 | +127% |
| Taxes, remuneration and social security | 45 | €3,089 | €9,461 | +€6,372 | +206% |
| Taxes | 450/3 | - | €6,350 | +€6,350 | |
| Remuneration and social security | 454/9 | €3,089 | €3,111 | +€22 | +0.7% |
| Remuneration, social security and pensions | 62 | €19,122 | €55,549 | +€36,426 | +190% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,992 | €7,461 | -€531 | -6.6% |
| Other operating charges | 640/8 | €1,404 | €982 | -€422 | -30.1% |
| Gross operating margin | 9900 | €55,807 | €117,457 | +€61,651 | +110% |
| Operating profit (loss) | 9901 | €27,289 | €53,466 | +€26,177 | +95.9% |
| Financial income | 75/76B | €6 | €1 | -€5 | -82.6% |
| Recurring financial income | 75 | €6 | €1 | -€5 | -82.6% |
| Financial charges | 65/66B | €1,043 | €654 | -€389 | -37.3% |
| Recurring financial charges | 65 | €1,043 | €654 | -€389 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €26,252 | €52,813 | +€26,561 | +101% |
| Income taxes | 67/77 | €7,268 | €14,850 | +€7,582 | +104% |
| Profit (loss) for the period | 9904 | €18,984 | €37,963 | +€18,979 | +100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,984 | €37,963 | +€18,979 | +100.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.