GWAPO: 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.
GWAPO
Largest movements
- Receivables within one year +€13,055
up €13,055 (+99.0%), from €13,189 to €26,244
of which Other amounts receivable: +€8,432
- Cash +€12,400
up €12,400 (+177%), from €6,992 to €19,392
mainly Net result for the year (+€15,318) and Tax, wage and social debts (+€9,426)
- Stocks and contracts -€4,000
down €4,000 (-100%), from €4,000 to €0
- Tangible fixed assets -€2,233
down €2,233 (-26.5%), from €8,441 to €6,208
of which Land and buildings: -€1,177
- Deferred charges and accrued income +€2,075
up €2,075 (+265%), from €783 to €2,859
- Profit (loss) carried forward +€15,318
up €15,318 (+98.0%), from -€15,637 to -€319
- Tax, wage and social debts +€9,426
up €9,426 (+260%), from €3,620 to €13,046
of which Taxes: +€7,116
- Debts after one year -€2,080
down €2,080 (-100%), from €2,080 to €0
- Current portion of long-term debt -€2,025
down €2,025 (-49.3%), from €4,105 to €2,080
- Trade debts +€658
up €658 (+28.6%), from €2,305 to €2,963
- Gross operating margin +€21,094
up €21,094 (+133%), from €15,856 to €36,951
- Taxes +€5,175
up €5,175 (+247%), from €2,098 to €7,273
- Write-downs +€690
up €690, from -€690 to €0
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 | €33,656 | €54,953 | +€21,297 | +63.3% |
| Fixed assets | 21/28 | €8,441 | €6,208 | -€2,233 | -26.5% |
| Tangible fixed assets | 22/27 | €8,441 | €6,208 | -€2,233 | -26.5% |
| Land and buildings | 22 | €3,494 | €2,316 | -€1,177 | -33.7% |
| Plant, machinery and equipment | 23 | €2,831 | €2,219 | -€611 | -21.6% |
| Furniture and vehicles | 24 | €2,116 | €1,672 | -€444 | -21.0% |
| Current assets | 29/58 | €25,215 | €48,745 | +€23,530 | +93.3% |
| Stocks and contracts in progress | 3 | €4,000 | €0 | -€4,000 | -100% |
| Stocks | 30/36 | €4,000 | €0 | -€4,000 | -100% |
| Amounts receivable within one year | 40/41 | €13,189 | €26,244 | +€13,055 | +99.0% |
| Trade receivables | 40 | €3,299 | €7,922 | +€4,623 | +140% |
| Other amounts receivable | 41 | €9,890 | €18,322 | +€8,432 | +85.3% |
| Current investments | 50/53 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,992 | €19,392 | +€12,400 | +177% |
| Deferred charges and accrued income | 490/1 | €783 | €2,859 | +€2,075 | +265% |
| Total equity and liabilities | 10/49 | €33,656 | €54,953 | +€21,297 | +63.3% |
| Equity | 10/15 | €21,547 | €36,865 | +€15,318 | +71.1% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,637 | -€319 | +€15,318 | +98.0% |
| Amounts payable | 17/49 | €12,109 | €18,088 | +€5,979 | +49.4% |
| Amounts payable after more than one year | 17 | €2,080 | €0 | -€2,080 | -100% |
| Financial debts | 170/4 | €2,080 | €0 | -€2,080 | -100% |
| Amounts payable within one year | 42/48 | €10,029 | €18,088 | +€8,059 | +80.4% |
| Current portion of amounts payable after more than one year | 42 | €4,105 | €2,080 | -€2,025 | -49.3% |
| Trade debts | 44 | €2,305 | €2,963 | +€658 | +28.6% |
| Suppliers | 440/4 | €2,305 | €2,963 | +€658 | +28.6% |
| Taxes, remuneration and social security | 45 | €3,620 | €13,046 | +€9,426 | +260% |
| Taxes | 450/3 | €1,115 | €8,230 | +€7,116 | +638% |
| Remuneration and social security | 454/9 | €2,505 | €4,816 | +€2,311 | +92.2% |
| Remuneration, social security and pensions | 62 | €7,842 | €8,155 | +€313 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,488 | €3,427 | -€61 | -1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€690 | €0 | +€690 | |
| Other operating charges | 640/8 | €1,148 | €1,202 | +€53 | +4.7% |
| Non-recurring operating charges | 66A | €0 | €1,837 | +€1,837 | |
| Gross operating margin | 9900 | €15,856 | €36,951 | +€21,094 | +133% |
| Operating profit (loss) | 9901 | €4,068 | €22,331 | +€18,263 | +449% |
| Financial income | 75/76B | €394 | €668 | +€274 | +69.6% |
| Recurring financial income | 75 | €394 | €668 | +€274 | +69.6% |
| Financial charges | 65/66B | €337 | €408 | +€71 | +21.1% |
| Recurring financial charges | 65 | €337 | €408 | +€71 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | €4,125 | €22,591 | +€18,466 | +448% |
| Income taxes | 67/77 | €2,098 | €7,273 | +€5,175 | +247% |
| Profit (loss) for the period | 9904 | €2,027 | €15,318 | +€13,290 | +656% |
| Profit (loss) for the period to be appropriated | 9905 | €2,027 | €15,318 | +€13,290 | +656% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.