GWB: 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.
GWB
Largest movements
- Cash -€11,871
down €11,871 (-67.3%), from €17,635 to €5,764
mainly Debts after one year (-€15,994) and Investment in fixed assets (net) (-€6,666)
- Tangible fixed assets -€9,521
down €9,521 (-16.5%), from €57,597 to €48,077
of which Furniture and vehicles: -€14,306
- Stocks and contracts +€3,500
up €3,500 (+233%), from €1,500 to €5,000
of which Contracts in progress: +€4,000
- Receivables within one year -€2,031
down €2,031 (-16.9%), from €12,030 to €9,999
of which Other amounts receivable: -€1,676
- Debts after one year -€15,994
down €15,994 (-38.1%), from €41,999 to €26,005
- Trade debts -€4,464
down €4,464 (-84.4%), from €5,287 to €823
- Gross operating margin -€12,437
down €12,437 (-38.5%), from €32,264 to €19,827
- Taxes -€3,340
down €3,340 (-94.3%), from €3,541 to €201
- Depreciation +€2,977
up €2,977 (+22.5%), from €13,210 to €16,187
- Other operating charges -€1,755
down €1,755 (-66.5%), from €2,638 to €883
- Financial charges +€809
up €809 (+69.7%), from €1,159 to €1,968
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 | €90,151 | €70,563 | -€19,589 | -21.7% |
| Fixed assets | 21/28 | €57,597 | €48,077 | -€9,521 | -16.5% |
| Tangible fixed assets | 22/27 | €57,597 | €48,077 | -€9,521 | -16.5% |
| Plant, machinery and equipment | 23 | €5,892 | €10,677 | +€4,785 | +81.2% |
| Furniture and vehicles | 24 | €51,705 | €37,400 | -€14,306 | -27.7% |
| Current assets | 29/58 | €32,554 | €22,486 | -€10,068 | -30.9% |
| Stocks and contracts in progress | 3 | €1,500 | €5,000 | +€3,500 | +233% |
| Stocks | 30/36 | €1,500 | €1,000 | -€500 | -33.3% |
| Contracts in progress | 37 | - | €4,000 | +€4,000 | |
| Amounts receivable within one year | 40/41 | €12,030 | €9,999 | -€2,031 | -16.9% |
| Trade receivables | 40 | €4,240 | €3,885 | -€355 | -8.4% |
| Other amounts receivable | 41 | €7,790 | €6,114 | -€1,676 | -21.5% |
| Cash at bank and in hand | 54/58 | €17,635 | €5,764 | -€11,871 | -67.3% |
| Deferred charges and accrued income | 490/1 | €1,388 | €1,723 | +€334 | +24.1% |
| Total equity and liabilities | 10/49 | €90,151 | €70,563 | -€19,589 | -21.7% |
| Equity | 10/15 | €20,856 | €21,575 | +€719 | +3.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €15,856 | €16,575 | +€719 | +4.5% |
| Distributable reserves | 133 | €15,856 | €16,575 | +€719 | +4.5% |
| Amounts payable | 17/49 | €69,295 | €48,987 | -€20,307 | -29.3% |
| Amounts payable after more than one year | 17 | €41,999 | €26,005 | -€15,994 | -38.1% |
| Financial debts | 170/4 | €41,999 | €26,005 | -€15,994 | -38.1% |
| Amounts payable within one year | 42/48 | €27,296 | €22,983 | -€4,313 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €15,637 | €15,994 | +€357 | +2.3% |
| Trade debts | 44 | €5,287 | €823 | -€4,464 | -84.4% |
| Suppliers | 440/4 | €5,287 | €823 | -€4,464 | -84.4% |
| Taxes, remuneration and social security | 45 | - | €503 | +€503 | |
| Taxes | 450/3 | - | €503 | +€503 | |
| Other amounts payable | 47/48 | €6,371 | €5,662 | -€709 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,210 | €16,187 | +€2,977 | +22.5% |
| Other operating charges | 640/8 | €2,638 | €883 | -€1,755 | -66.5% |
| Gross operating margin | 9900 | €32,264 | €19,827 | -€12,437 | -38.5% |
| Operating profit (loss) | 9901 | €16,416 | €2,757 | -€13,659 | -83.2% |
| Financial income | 75/76B | €13 | €131 | +€118 | +931% |
| Recurring financial income | 75 | €13 | €131 | +€118 | +931% |
| Financial charges | 65/66B | €1,159 | €1,968 | +€809 | +69.7% |
| Recurring financial charges | 65 | €1,159 | €1,968 | +€809 | +69.7% |
| Profit (loss) for the period before taxes | 9903 | €15,269 | €920 | -€14,349 | -94.0% |
| Income taxes | 67/77 | €3,541 | €201 | -€3,340 | -94.3% |
| Profit (loss) for the period | 9904 | €11,729 | €719 | -€11,010 | -93.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,729 | €719 | -€11,010 | -93.9% |
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 16 October 2026 via checked.be.