GW CONSULT: 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.
GW CONSULT
Largest movements
- Receivables after one year -€41,357
down €41,357 (-13.3%), from €311,010 to €269,654
- Receivables within one year -€30,028
down €30,028 (-6.8%), from €440,165 to €410,137
of which Other amounts receivable: -€26,541
- Reserves -€58,342
down €58,342 (-14.4%), from €404,363 to €346,021
- Financial charges +€81,004
up €81,004 (+4,078%), from €1,987 to €82,991
- Taxes -€20,329
down €20,329 (-74.2%), from €27,400 to €7,072
- Gross operating margin +€9,213
up €9,213 (+7.9%), from €116,260 to €125,473
- Staff costs +€4,373
up €4,373 (+9.0%), from €48,583 to €52,957
- Financial income +€1,577
up €1,577 (+4.8%), from €32,901 to €34,478
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 | €770,904 | €701,333 | -€69,571 | -9.0% |
| Fixed assets | 21/28 | €4,034 | €2,331 | -€1,703 | -42.2% |
| Tangible fixed assets | 22/27 | €4,034 | €2,331 | -€1,703 | -42.2% |
| Furniture and vehicles | 24 | €4,034 | €2,331 | -€1,703 | -42.2% |
| Current assets | 29/58 | €766,870 | €699,002 | -€67,868 | -8.9% |
| Amounts receivable after more than one year | 29 | €311,010 | €269,654 | -€41,357 | -13.3% |
| Trade receivables | 290 | €311,010 | €269,654 | -€41,357 | -13.3% |
| Amounts receivable within one year | 40/41 | €440,165 | €410,137 | -€30,028 | -6.8% |
| Trade receivables | 40 | €43,589 | €40,103 | -€3,486 | -8.0% |
| Other amounts receivable | 41 | €396,576 | €370,034 | -€26,541 | -6.7% |
| Cash at bank and in hand | 54/58 | €14,873 | €16,210 | +€1,337 | +9.0% |
| Deferred charges and accrued income | 490/1 | €822 | €3,001 | +€2,179 | +265% |
| Total equity and liabilities | 10/49 | €770,904 | €701,333 | -€69,571 | -9.0% |
| Equity | 10/15 | €653,886 | €595,544 | -€58,342 | -8.9% |
| Contributions | 10/11 | €10,200 | €10,200 | = | 0.0% |
| Reserves | 13 | €404,363 | €346,021 | -€58,342 | -14.4% |
| Distributable reserves | 133 | €404,363 | €346,021 | -€58,342 | -14.4% |
| Profit (loss) carried forward | 14 | €239,323 | €239,323 | +€0 | 0.0% |
| Amounts payable | 17/49 | €117,018 | €105,789 | -€11,229 | -9.6% |
| Amounts payable after more than one year | 17 | €4,454 | €1,341 | -€3,113 | -69.9% |
| Financial debts | 170/4 | €4,454 | €1,341 | -€3,113 | -69.9% |
| Amounts payable within one year | 42/48 | €112,564 | €104,448 | -€8,116 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €11,438 | €9,858 | -€1,581 | -13.8% |
| Trade debts | 44 | €12,623 | €9,072 | -€3,551 | -28.1% |
| Suppliers | 440/4 | €12,623 | €9,072 | -€3,551 | -28.1% |
| Taxes, remuneration and social security | 45 | €16,419 | €12,435 | -€3,985 | -24.3% |
| Taxes | 450/3 | €9,699 | €5,147 | -€4,553 | -46.9% |
| Remuneration and social security | 454/9 | €6,720 | €7,288 | +€568 | +8.5% |
| Other amounts payable | 47/48 | €72,084 | €73,084 | +€1,000 | +1.4% |
| Remuneration, social security and pensions | 62 | €48,583 | €52,957 | +€4,373 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,075 | €1,703 | +€628 | +58.4% |
| Other operating charges | 640/8 | €472 | €487 | +€15 | +3.2% |
| Gross operating margin | 9900 | €116,260 | €125,473 | +€9,213 | +7.9% |
| Operating profit (loss) | 9901 | €66,130 | €70,326 | +€4,196 | +6.3% |
| Financial income | 75/76B | €32,901 | €34,478 | +€1,577 | +4.8% |
| Recurring financial income | 75 | €32,901 | €34,478 | +€1,577 | +4.8% |
| Financial charges | 65/66B | €1,987 | €82,991 | +€81,004 | +4,078% |
| Recurring financial charges | 65 | €1,987 | €82,991 | +€81,004 | +4,078% |
| Profit (loss) for the period before taxes | 9903 | €97,044 | €21,813 | -€75,231 | -77.5% |
| Income taxes | 67/77 | €27,400 | €7,072 | -€20,329 | -74.2% |
| Profit (loss) for the period | 9904 | €69,644 | €14,742 | -€54,902 | -78.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,644 | €14,742 | -€54,902 | -78.8% |
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 15 October 2026 via checked.be.