GW PARTNERS: 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 PARTNERS
Largest movements
- Cash -€19,558
down €19,558 (-60.6%), from €32,272 to €12,714
mainly Net result for the year (-€36,161) and Investment in fixed assets (net) (-€7,607)
- Tangible fixed assets -€15,606
down €15,606 (-2.7%), from €578,843 to €563,237
of which Land and buildings: -€14,683
- Profit (loss) carried forward -€36,161
down €36,161 (-26.3%), from -€137,464 to -€173,624
- Other debts +€8,664
up €8,664 (+5.4%), from €160,699 to €169,363
- Debts after one year -€7,453
down €7,453 (-4.0%), from €186,443 to €178,990
- Gross operating margin +€5,360
up €5,360 (+314%), from €1,707 to €7,067
- Depreciation +€1,539
up €1,539 (+7.1%), from €21,675 to €23,214
- Financial charges -€744
down €744 (-4.0%), from €18,673 to €17,929
- Staff costs -€204
no longer reported in 2026 (was €204)
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €611,799 | €576,636 | -€35,163 | -5.7% |
| Fixed assets | 21/28 | €578,843 | €563,237 | -€15,606 | -2.7% |
| Tangible fixed assets | 22/27 | €578,843 | €563,237 | -€15,606 | -2.7% |
| Land and buildings | 22 | €574,259 | €559,576 | -€14,683 | -2.6% |
| Plant, machinery and equipment | 23 | €3,417 | €3,050 | -€367 | -10.7% |
| Furniture and vehicles | 24 | €1,167 | €611 | -€556 | -47.7% |
| Current assets | 29/58 | €32,956 | €13,399 | -€19,557 | -59.3% |
| Amounts receivable within one year | 40/41 | €498 | €498 | = | 0.0% |
| Other amounts receivable | 41 | €498 | €498 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,272 | €12,714 | -€19,558 | -60.6% |
| Deferred charges and accrued income | 490/1 | €186 | €187 | +€1 | +0.7% |
| Total equity and liabilities | 10/49 | €611,799 | €576,636 | -€35,163 | -5.7% |
| Equity | 10/15 | €253,636 | €217,476 | -€36,161 | -14.3% |
| Contributions | 10/11 | €391,000 | €391,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€137,464 | -€173,624 | -€36,161 | -26.3% |
| Amounts payable | 17/49 | €358,163 | €359,160 | +€998 | +0.3% |
| Amounts payable after more than one year | 17 | €186,443 | €178,990 | -€7,453 | -4.0% |
| Financial debts | 170/4 | €186,443 | €178,990 | -€7,453 | -4.0% |
| Amounts payable within one year | 42/48 | €171,720 | €180,170 | +€8,450 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €7,190 | €7,453 | +€263 | +3.7% |
| Trade debts | 44 | €367 | €59 | -€308 | -83.9% |
| Suppliers | 440/4 | €367 | €59 | -€308 | -83.9% |
| Taxes, remuneration and social security | 45 | €3,464 | €3,295 | -€168 | -4.9% |
| Taxes | 450/3 | €3,464 | €3,295 | -€168 | -4.9% |
| Other amounts payable | 47/48 | €160,699 | €169,363 | +€8,664 | +5.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €204 | - | -€204 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,675 | €23,214 | +€1,539 | +7.1% |
| Other operating charges | 640/8 | €2,066 | €2,085 | +€20 | +1.0% |
| Gross operating margin | 9900 | €1,707 | €7,067 | +€5,360 | +314% |
| Operating profit (loss) | 9901 | -€22,238 | -€18,232 | +€4,006 | +18.0% |
| Financial charges | 65/66B | €18,673 | €17,929 | -€744 | -4.0% |
| Recurring financial charges | 65 | €18,673 | €17,929 | -€744 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€40,911 | -€36,161 | +€4,750 | +11.6% |
| Profit (loss) for the period | 9904 | -€40,911 | -€36,161 | +€4,750 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,911 | -€36,161 | +€4,750 | +11.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.