GW CONSULTANTS: 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 CONSULTANTS
Largest movements
- Current investments +€306,551
new in 2025: €306,551
- Cash -€266,007
down €266,007 (-64.0%), from €415,622 to €149,614
mainly Current investments (-€306,551) and Trade debts (-€1,291)
- Tangible fixed assets -€15,765
down €15,765 (-33.1%), from €47,593 to €31,829
of which Furniture and vehicles: -€14,411
- Receivables within one year -€12,488
down €12,488 (-34.7%), from €36,018 to €23,529
of which Other amounts receivable: -€8,004
- Reserves +€10,684
up €10,684 (+2.4%), from €446,113 to €456,797
of which Distributable reserves: +€10,684
- Financial income +€12,652
up €12,652 (+2,023%), from €625 to €13,277
- Gross operating margin +€6,143
up €6,143 (+34.4%), from €17,840 to €23,983
- Taxes +€5,683
up €5,683 (+653%), from €871 to €6,554
- Financial charges +€1,001
up €1,001 (+33.7%), from €2,970 to €3,971
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 | €500,200 | €512,657 | +€12,458 | +2.5% |
| Fixed assets | 21/28 | €47,593 | €31,829 | -€15,765 | -33.1% |
| Tangible fixed assets | 22/27 | €47,593 | €31,829 | -€15,765 | -33.1% |
| Furniture and vehicles | 24 | €45,522 | €31,111 | -€14,411 | -31.7% |
| Other tangible fixed assets | 26 | €2,071 | €718 | -€1,354 | -65.4% |
| Current assets | 29/58 | €452,606 | €480,829 | +€28,222 | +6.2% |
| Amounts receivable within one year | 40/41 | €36,018 | €23,529 | -€12,488 | -34.7% |
| Trade receivables | 40 | €26,540 | €22,056 | -€4,484 | -16.9% |
| Other amounts receivable | 41 | €9,478 | €1,473 | -€8,004 | -84.5% |
| Current investments | 50/53 | - | €306,551 | +€306,551 | |
| Cash at bank and in hand | 54/58 | €415,622 | €149,614 | -€266,007 | -64.0% |
| Deferred charges and accrued income | 490/1 | €967 | €1,134 | +€167 | +17.3% |
| Total equity and liabilities | 10/49 | €500,200 | €512,657 | +€12,458 | +2.5% |
| Equity | 10/15 | €458,513 | €469,197 | +€10,684 | +2.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €446,113 | €456,797 | +€10,684 | +2.4% |
| Tax-exempt reserves | 132 | €294 | €294 | = | 0.0% |
| Distributable reserves | 133 | €445,819 | €456,503 | +€10,684 | +2.4% |
| Amounts payable | 17/49 | €41,687 | €43,461 | +€1,774 | +4.3% |
| Amounts payable within one year | 42/48 | €41,687 | €43,461 | +€1,774 | +4.3% |
| Trade debts | 44 | €1,538 | €247 | -€1,291 | -83.9% |
| Suppliers | 440/4 | €1,538 | €247 | -€1,291 | -83.9% |
| Taxes, remuneration and social security | 45 | - | €30 | +€30 | |
| Taxes | 450/3 | - | €30 | +€30 | |
| Other amounts payable | 47/48 | €40,148 | €43,184 | +€3,036 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,795 | €15,765 | -€30 | -0.2% |
| Other operating charges | 640/8 | €279 | €288 | +€8 | +3.0% |
| Gross operating margin | 9900 | €17,840 | €23,983 | +€6,143 | +34.4% |
| Operating profit (loss) | 9901 | €1,767 | €7,931 | +€6,165 | +349% |
| Financial income | 75/76B | €625 | €13,277 | +€12,652 | +2,023% |
| Recurring financial income | 75 | €625 | €13,277 | +€12,652 | +2,023% |
| Financial charges | 65/66B | €2,970 | €3,971 | +€1,001 | +33.7% |
| Recurring financial charges | 65 | €2,970 | €3,971 | +€1,001 | +33.7% |
| Profit (loss) for the period before taxes | 9903 | -€578 | €17,237 | +€17,815 | |
| Income taxes | 67/77 | €871 | €6,554 | +€5,683 | +653% |
| Profit (loss) for the period | 9904 | -€1,449 | €10,684 | +€12,133 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,449 | €10,684 | +€12,133 |
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 30 October 2026 via checked.be.