GWConsulting: 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.
GWConsulting
Largest movements
- Receivables within one year +€166,540
up €166,540 (+193%), from €86,073 to €252,613
of which Other amounts receivable: +€125,451
- Current investments +€92,291
new in 2025: €92,291
- Tangible fixed assets +€58,499
up €58,499 (+42.4%), from €138,085 to €196,584
of which Plant, machinery and equipment: +€62,064
- Receivables after one year -€45,000
no longer reported in 2025 (was €45,000)
- Cash -€41,327
down €41,327 (-61.5%), from €67,165 to €25,838
mainly Receivables within one year (-€166,540) and Current investments (-€92,291)
- Reserves +€197,792
up €197,792 (+83.3%), from €237,439 to €435,231
- Debts after one year +€44,834
new in 2025: €44,834
- Gross operating margin +€86,516
up €86,516 (+44.7%), from €193,708 to €280,224
- Taxes +€25,064
up €25,064 (+63.0%), from €39,781 to €64,845
- Financial income +€5,103
up €5,103 (+149%), from €3,414 to €8,517
- Depreciation +€3,977
up €3,977 (+27.2%), from €14,640 to €18,617
- Financial charges +€3,643
up €3,643 (+148%), from €2,461 to €6,104
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 | €342,830 | €577,808 | +€234,978 | +68.5% |
| Fixed assets | 21/28 | €138,085 | €196,584 | +€58,499 | +42.4% |
| Tangible fixed assets | 22/27 | €138,085 | €196,584 | +€58,499 | +42.4% |
| Plant, machinery and equipment | 23 | €125,038 | €187,101 | +€62,064 | +49.6% |
| Furniture and vehicles | 24 | €8,462 | €5,254 | -€3,208 | -37.9% |
| Other tangible fixed assets | 26 | €4,586 | €4,229 | -€357 | -7.8% |
| Current assets | 29/58 | €204,745 | €381,224 | +€176,479 | +86.2% |
| Amounts receivable after more than one year | 29 | €45,000 | - | -€45,000 | |
| Other amounts receivable | 291 | €45,000 | - | -€45,000 | |
| Amounts receivable within one year | 40/41 | €86,073 | €252,613 | +€166,540 | +193% |
| Trade receivables | 40 | €29,311 | €70,400 | +€41,089 | +140% |
| Other amounts receivable | 41 | €56,762 | €182,213 | +€125,451 | +221% |
| Current investments | 50/53 | - | €92,291 | +€92,291 | |
| Cash at bank and in hand | 54/58 | €67,165 | €25,838 | -€41,327 | -61.5% |
| Deferred charges and accrued income | 490/1 | €6,507 | €10,481 | +€3,975 | +61.1% |
| Total equity and liabilities | 10/49 | €342,830 | €577,808 | +€234,978 | +68.5% |
| Equity | 10/15 | €239,839 | €437,631 | +€197,792 | +82.5% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €237,439 | €435,231 | +€197,792 | +83.3% |
| Distributable reserves | 133 | €237,439 | €435,231 | +€197,792 | +83.3% |
| Amounts payable | 17/49 | €102,991 | €140,177 | +€37,186 | +36.1% |
| Amounts payable after more than one year | 17 | - | €44,834 | +€44,834 | |
| Financial debts | 170/4 | - | €44,834 | +€44,834 | |
| Amounts payable within one year | 42/48 | €102,991 | €95,342 | -€7,649 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €56,692 | €53,582 | -€3,110 | -5.5% |
| Trade debts | 44 | €1,484 | €1,130 | -€354 | -23.8% |
| Suppliers | 440/4 | €1,484 | €1,130 | -€354 | -23.8% |
| Taxes, remuneration and social security | 45 | €44,816 | €40,611 | -€4,205 | -9.4% |
| Taxes | 450/3 | €44,816 | €40,611 | -€4,205 | -9.4% |
| Other amounts payable | 47/48 | - | €20 | +€20 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,640 | €18,617 | +€3,977 | +27.2% |
| Other operating charges | 640/8 | €1,403 | €1,383 | -€20 | -1.4% |
| Gross operating margin | 9900 | €193,708 | €280,224 | +€86,516 | +44.7% |
| Operating profit (loss) | 9901 | €177,665 | €260,224 | +€82,558 | +46.5% |
| Financial income | 75/76B | €3,414 | €8,517 | +€5,103 | +149% |
| Recurring financial income | 75 | €3,414 | €8,517 | +€5,103 | +149% |
| Financial charges | 65/66B | €2,461 | €6,104 | +€3,643 | +148% |
| Recurring financial charges | 65 | €2,461 | €6,104 | +€3,643 | +148% |
| Profit (loss) for the period before taxes | 9903 | €178,619 | €262,637 | +€84,018 | +47.0% |
| Income taxes | 67/77 | €39,781 | €64,845 | +€25,064 | +63.0% |
| Profit (loss) for the period | 9904 | €138,838 | €197,792 | +€58,954 | +42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €138,838 | €197,792 | +€58,954 | +42.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.