GWB TECHNICS: what changed
GWB TECHNICS
Largest movements
- Cash +€14,415
up €14,415 (+136%), from €10,573 to €24,988
mainly Accrued charges and deferred income (+€22,921) and Net result for the year (+€10,460)
- Receivables within one year -€8,549
down €8,549 (-16.8%), from €50,799 to €42,250
of which Trade receivables: -€9,797
- Tangible fixed assets -€1,856
down €1,856 (-23.9%), from €7,771 to €5,914
of which Furniture and vehicles: -€1,164
- Stocks and contracts -€1,131
down €1,131 (-17.9%), from €6,328 to €5,197
- Deferred charges and accrued income +€1,054
up €1,054 (+39.3%), from €2,684 to €3,738
- Trade debts -€26,450
down €26,450 (-82.9%), from €31,925 to €5,474
- Accrued charges and deferred income +€22,921
up €22,921 (+35,870%), from €64 to €22,985
- Reserves +€10,460
up €10,460 (+41.9%), from €24,986 to €35,446
- Short-term financial debts -€1,704
down €1,704 (-50.4%), from €3,385 to €1,681
- Other debts -€969
down €969 (-8.0%), from €12,077 to €11,108
- Gross operating margin +€19,024
up €19,024 (+32.3%), from €58,839 to €77,863
- Staff costs +€3,128
up €3,128 (+6.2%), from €50,797 to €53,925
- Taxes +€3,080
up €3,080 (+136%), from €2,262 to €5,341
- Write-downs +€2,266
new in 2025: €2,266
- Financial charges +€1,885
up €1,885 (+192%), from €982 to €2,867
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €79,369 | €83,302 | +€3,933 | +5.0% |
| Fixed assets | 21/28 | €8,986 | €7,129 | -€1,856 | -20.7% |
| Tangible fixed assets | 22/27 | €7,771 | €5,914 | -€1,856 | -23.9% |
| Plant, machinery and equipment | 23 | €3,417 | €2,725 | -€693 | -20.3% |
| Furniture and vehicles | 24 | €4,353 | €3,190 | -€1,164 | -26.7% |
| Financial fixed assets | 28 | €1,215 | €1,215 | = | 0.0% |
| Current assets | 29/58 | €70,383 | €76,173 | +€5,789 | +8.2% |
| Stocks and contracts in progress | 3 | €6,328 | €5,197 | -€1,131 | -17.9% |
| Stocks | 30/36 | €6,328 | €5,197 | -€1,131 | -17.9% |
| Amounts receivable within one year | 40/41 | €50,799 | €42,250 | -€8,549 | -16.8% |
| Trade receivables | 40 | €36,139 | €26,341 | -€9,797 | -27.1% |
| Other amounts receivable | 41 | €14,660 | €15,909 | +€1,248 | +8.5% |
| Cash at bank and in hand | 54/58 | €10,573 | €24,988 | +€14,415 | +136% |
| Deferred charges and accrued income | 490/1 | €2,684 | €3,738 | +€1,054 | +39.3% |
| Total equity and liabilities | 10/49 | €79,369 | €83,302 | +€3,933 | +5.0% |
| Equity | 10/15 | €29,986 | €40,446 | +€10,460 | +34.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €24,986 | €35,446 | +€10,460 | +41.9% |
| Distributable reserves | 133 | €24,986 | €35,446 | +€10,460 | +41.9% |
| Amounts payable | 17/49 | €49,383 | €42,856 | -€6,527 | -13.2% |
| Amounts payable within one year | 42/48 | €49,319 | €19,871 | -€29,448 | -59.7% |
| Financial debts | 43 | €3,385 | €1,681 | -€1,704 | -50.4% |
| Credit institutions | 430/8 | €3,385 | €1,681 | -€1,704 | -50.4% |
| Trade debts | 44 | €31,925 | €5,474 | -€26,450 | -82.9% |
| Suppliers | 440/4 | €31,925 | €5,474 | -€26,450 | -82.9% |
| Taxes, remuneration and social security | 45 | €1,932 | €1,608 | -€324 | -16.8% |
| Taxes | 450/3 | €157 | €0 | -€157 | -100% |
| Remuneration and social security | 454/9 | €1,775 | €1,608 | -€167 | -9.4% |
| Other amounts payable | 47/48 | €12,077 | €11,108 | -€969 | -8.0% |
| Accrued charges and deferred income | 492/3 | €64 | €22,985 | +€22,921 | +35,870% |
| Non-recurring operating income | 76A | €4,294 | €0 | -€4,294 | -100% |
| Remuneration, social security and pensions | 62 | €50,797 | €53,925 | +€3,128 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,047 | €1,869 | +€822 | +78.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,266 | +€2,266 | |
| Other operating charges | 640/8 | €576 | €1,245 | +€670 | +116% |
| Gross operating margin | 9900 | €58,839 | €77,863 | +€19,024 | +32.3% |
| Operating profit (loss) | 9901 | €6,419 | €18,557 | +€12,138 | +189% |
| Financial income | 75/76B | €541 | €112 | -€429 | -79.3% |
| Recurring financial income | 75 | €541 | €112 | -€429 | -79.3% |
| Financial charges | 65/66B | €982 | €2,867 | +€1,885 | +192% |
| Recurring financial charges | 65 | €982 | €2,867 | +€1,885 | +192% |
| Profit (loss) for the period before taxes | 9903 | €5,978 | €15,801 | +€9,823 | +164% |
| Income taxes | 67/77 | €2,262 | €5,341 | +€3,080 | +136% |
| Profit (loss) for the period | 9904 | €3,716 | €10,460 | +€6,744 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €3,716 | €10,460 | +€6,744 | +181% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.