GROUPE W: 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.
GROUPE W
Largest movements
- Receivables within one year -€57,119
down €57,119 (-25.3%), from €225,996 to €168,876
of which Trade receivables: -€59,403
- Intangible fixed assets -€12,123
down €12,123 (-25.0%), from €48,491 to €36,369
- Profit (loss) carried forward -€42,333
down €42,333 (-22.2%), from -€190,360 to -€232,693
- Trade debts -€33,521
down €33,521 (-74.5%), from €44,976 to €11,454
- Tax, wage and social debts +€6,357
up €6,357 (+6.0%), from €106,003 to €112,359
of which Remuneration and social security: +€23,524
- Gross operating margin +€36,620
up €36,620 (+15.8%), from €231,165 to €267,785
- Staff costs +€23,615
up €23,615 (+9.1%), from €259,586 to €283,201
- Taxes -€16,362
down €16,362 (-100%), from €16,362 to €0
- Other operating charges +€6,952
up €6,952 (+203%), from €3,430 to €10,382
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 | €374,355 | €304,735 | -€69,620 | -18.6% |
| Fixed assets | 21/28 | €145,442 | €133,319 | -€12,123 | -8.3% |
| Intangible fixed assets | 21 | €48,491 | €36,369 | -€12,123 | -25.0% |
| Financial fixed assets | 28 | €96,951 | €96,951 | = | 0.0% |
| Current assets | 29/58 | €228,913 | €171,416 | -€57,497 | -25.1% |
| Amounts receivable within one year | 40/41 | €225,996 | €168,876 | -€57,119 | -25.3% |
| Trade receivables | 40 | €225,393 | €165,990 | -€59,403 | -26.4% |
| Other amounts receivable | 41 | €603 | €2,886 | +€2,283 | +379% |
| Cash at bank and in hand | 54/58 | €2,917 | €2,427 | -€490 | -16.8% |
| Deferred charges and accrued income | 490/1 | - | €112 | +€112 | |
| Total equity and liabilities | 10/49 | €374,355 | €304,735 | -€69,620 | -18.6% |
| Equity | 10/15 | -€54,350 | -€96,683 | -€42,333 | -77.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €74,010 | €74,010 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,273 | €1,273 | = | 0.0% |
| Legal reserve | 130 | €1,273 | €1,273 | = | 0.0% |
| Tax-exempt reserves | 132 | €72,737 | €72,737 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€190,360 | -€232,693 | -€42,333 | -22.2% |
| Amounts payable | 17/49 | €428,705 | €401,418 | -€27,287 | -6.4% |
| Amounts payable within one year | 42/48 | €428,705 | €401,418 | -€27,287 | -6.4% |
| Trade debts | 44 | €44,976 | €11,454 | -€33,521 | -74.5% |
| Suppliers | 440/4 | €44,976 | €11,454 | -€33,521 | -74.5% |
| Taxes, remuneration and social security | 45 | €106,003 | €112,359 | +€6,357 | +6.0% |
| Taxes | 450/3 | €18,854 | €1,687 | -€17,167 | -91.1% |
| Remuneration and social security | 454/9 | €87,148 | €110,672 | +€23,524 | +27.0% |
| Other amounts payable | 47/48 | €277,726 | €277,604 | -€122 | 0.0% |
| Non-recurring operating income | 76A | - | €33,814 | +€33,814 | |
| Remuneration, social security and pensions | 62 | €259,586 | €283,201 | +€23,615 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,123 | €12,123 | = | 0.0% |
| Other operating charges | 640/8 | €3,430 | €10,382 | +€6,952 | +203% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €231,165 | €267,785 | +€36,620 | +15.8% |
| Operating profit (loss) | 9901 | -€43,973 | -€37,920 | +€6,053 | +13.8% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €1,860 | €4,413 | +€2,554 | +137% |
| Recurring financial charges | 65 | €1,860 | €4,413 | +€2,554 | +137% |
| Profit (loss) for the period before taxes | 9903 | -€45,830 | -€42,333 | +€3,497 | +7.6% |
| Income taxes | 67/77 | €16,362 | €0 | -€16,362 | -100% |
| Profit (loss) for the period | 9904 | -€62,192 | -€42,333 | +€19,858 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,192 | -€42,333 | +€19,858 | +31.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.