GWEN MANAGEMENT: 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.
GWEN MANAGEMENT
Largest movements
- Receivables within one year +€174,699
up €174,699 (+411%), from €42,500 to €217,199
of which Other amounts receivable: +€174,699
- Cash -€138,665
down €138,665 (-42.1%), from €329,543 to €190,878
mainly Receivables within one year (-€174,699) and Tax, wage and social debts (-€170,066)
- Profit (loss) carried forward +€376,381
up €376,381 (+809%), from €46,501 to €422,882
- Tax, wage and social debts -€170,066
down €170,066 (-93.8%), from €181,352 to €11,286
of which Taxes: -€170,066
- Other debts -€157,918
down €157,918 (-27.4%), from €575,980 to €418,062
- Debts after one year -€16,342
down €16,342 (-26.2%), from €62,345 to €46,003
- Financial income +€225,000
up €225,000, from €0 to €225,000
- Gross operating margin +€5,558
up €5,558 (+2.7%), from €204,602 to €210,160
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 | €1,386,194 | €1,418,729 | +€32,535 | +2.3% |
| Fixed assets | 21/28 | €1,014,073 | €1,010,573 | -€3,500 | -0.3% |
| Tangible fixed assets | 22/27 | €139,000 | €135,500 | -€3,500 | -2.5% |
| Land and buildings | 22 | €139,000 | €135,500 | -€3,500 | -2.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €875,073 | €875,073 | = | 0.0% |
| Current assets | 29/58 | €372,121 | €408,156 | +€36,035 | +9.7% |
| Amounts receivable within one year | 40/41 | €42,500 | €217,199 | +€174,699 | +411% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €42,500 | €217,199 | +€174,699 | +411% |
| Cash at bank and in hand | 54/58 | €329,543 | €190,878 | -€138,665 | -42.1% |
| Deferred charges and accrued income | 490/1 | €78 | €79 | +€1 | +0.7% |
| Total equity and liabilities | 10/49 | €1,386,194 | €1,418,729 | +€32,535 | +2.3% |
| Equity | 10/15 | €536,201 | €912,582 | +€376,381 | +70.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €469,700 | €469,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €469,700 | €469,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,501 | €422,882 | +€376,381 | +809% |
| Amounts payable | 17/49 | €849,993 | €506,147 | -€343,846 | -40.5% |
| Amounts payable after more than one year | 17 | €62,345 | €46,003 | -€16,342 | -26.2% |
| Financial debts | 170/4 | €62,345 | €46,003 | -€16,342 | -26.2% |
| Amounts payable within one year | 42/48 | €787,605 | €460,110 | -€327,495 | -41.6% |
| Current portion of amounts payable after more than one year | 42 | €16,140 | €16,342 | +€202 | +1.3% |
| Financial debts | 43 | €11,916 | €11,913 | -€4 | 0.0% |
| Credit institutions | 430/8 | €11,916 | €11,913 | -€4 | 0.0% |
| Trade debts | 44 | €2,217 | €2,508 | +€290 | +13.1% |
| Suppliers | 440/4 | €2,217 | €2,508 | +€290 | +13.1% |
| Taxes, remuneration and social security | 45 | €181,352 | €11,286 | -€170,066 | -93.8% |
| Taxes | 450/3 | €180,852 | €10,786 | -€170,066 | -94.0% |
| Remuneration and social security | 454/9 | €500 | €500 | = | 0.0% |
| Other amounts payable | 47/48 | €575,980 | €418,062 | -€157,918 | -27.4% |
| Accrued charges and deferred income | 492/3 | €43 | €35 | -€9 | -20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,769 | €3,500 | -€269 | -7.1% |
| Other operating charges | 640/8 | €1,508 | €1,506 | -€2 | -0.1% |
| Gross operating margin | 9900 | €204,602 | €210,160 | +€5,558 | +2.7% |
| Operating profit (loss) | 9901 | €199,326 | €205,155 | +€5,829 | +2.9% |
| Financial income | 75/76B | €0 | €225,000 | +€225,000 | |
| Recurring financial income | 75 | €0 | €225,000 | +€225,000 | |
| Financial charges | 65/66B | €2,747 | €2,619 | -€129 | -4.7% |
| Recurring financial charges | 65 | €2,747 | €2,619 | -€129 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €196,579 | €427,536 | +€230,957 | +117% |
| Income taxes | 67/77 | €50,246 | €51,155 | +€909 | +1.8% |
| Profit (loss) for the period | 9904 | €146,332 | €376,381 | +€230,049 | +157% |
| Profit (loss) for the period to be appropriated | 9905 | €146,332 | €376,381 | +€230,049 | +157% |
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 29 October 2026 via checked.be.