KWOnet: 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.
KWOnet
Largest movements
- Cash -€471,977
down €471,977 (-96.7%), from €488,294 to €16,317
mainly Trade debts (-€805,430) and Investment in fixed assets (net) (-€28,710)
- Tangible fixed assets -€206,516
down €206,516 (-7.1%), from €2.9m to €2.7m
- Trade debts -€805,430
down €805,430 (-77.7%), from €1.0m to €230,969
- Profit (loss) carried forward +€84,387
up €84,387 (+17.5%), from €482,780 to €567,167
- Debts after one year +€60,441
up €60,441 (+3.3%), from €1.9m to €1.9m
- Depreciation +€107,288
up €107,288 (+83.9%), from €127,939 to €235,227
- Gross operating margin -€99,077
down €99,077 (-41.8%), from €237,089 to €138,012
- Financial income +€69,531
up €69,531 (+33.3%), from €208,582 to €278,113
- Financial charges +€34,763
up €34,763 (+117%), from €29,589 to €64,352
- Taxes +€15,499
new in 2025: €15,499
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 | €3,477,922 | €2,833,741 | -€644,181 | -18.5% |
| Fixed assets | 21/28 | €2,897,000 | €2,690,483 | -€206,516 | -7.1% |
| Tangible fixed assets | 22/27 | €2,897,000 | €2,690,483 | -€206,516 | -7.1% |
| Other tangible fixed assets | 26 | €2,897,000 | €2,690,483 | -€206,516 | -7.1% |
| Current assets | 29/58 | €580,923 | €143,258 | -€437,664 | -75.3% |
| Amounts receivable within one year | 40/41 | €87,905 | €109,496 | +€21,591 | +24.6% |
| Trade receivables | 40 | €27,905 | €25,623 | -€2,282 | -8.2% |
| Other amounts receivable | 41 | €60,000 | €83,873 | +€23,873 | +39.8% |
| Cash at bank and in hand | 54/58 | €488,294 | €16,317 | -€471,977 | -96.7% |
| Deferred charges and accrued income | 490/1 | €4,724 | €17,446 | +€12,722 | +269% |
| Total equity and liabilities | 10/49 | €3,477,922 | €2,833,741 | -€644,181 | -18.5% |
| Equity | 10/15 | €503,240 | €587,627 | +€84,387 | +16.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €482,780 | €567,167 | +€84,387 | +17.5% |
| Amounts payable | 17/49 | €2,974,682 | €2,246,114 | -€728,567 | -24.5% |
| Amounts payable after more than one year | 17 | €1,858,723 | €1,919,164 | +€60,441 | +3.3% |
| Financial debts | 170/4 | €1,858,723 | €1,919,164 | +€60,441 | +3.3% |
| Amounts payable within one year | 42/48 | €1,110,745 | €322,917 | -€787,828 | -70.9% |
| Current portion of amounts payable after more than one year | 42 | €68,250 | €76,449 | +€8,199 | +12.0% |
| Trade debts | 44 | €1,036,399 | €230,969 | -€805,430 | -77.7% |
| Suppliers | 440/4 | €1,036,399 | €230,969 | -€805,430 | -77.7% |
| Taxes, remuneration and social security | 45 | €6,096 | €15,499 | +€9,403 | +154% |
| Taxes | 450/3 | €6,096 | €15,499 | +€9,403 | +154% |
| Accrued charges and deferred income | 492/3 | €5,213 | €4,033 | -€1,180 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,939 | €235,227 | +€107,288 | +83.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,082 | €16,660 | +€11,578 | +228% |
| Gross operating margin | 9900 | €237,089 | €138,012 | -€99,077 | -41.8% |
| Operating profit (loss) | 9901 | €104,069 | -€113,875 | -€217,943 | |
| Financial income | 75/76B | €208,582 | €278,113 | +€69,531 | +33.3% |
| Recurring financial income | 75 | €208,582 | €278,113 | +€69,531 | +33.3% |
| Financial charges | 65/66B | €29,589 | €64,352 | +€34,763 | +117% |
| Recurring financial charges | 65 | €29,589 | €64,352 | +€34,763 | +117% |
| Profit (loss) for the period before taxes | 9903 | €283,061 | €99,886 | -€183,175 | -64.7% |
| Income taxes | 67/77 | - | €15,499 | +€15,499 | |
| Profit (loss) for the period | 9904 | €283,061 | €84,387 | -€198,674 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | €283,061 | €84,387 | -€198,674 | -70.2% |
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 25 October 2026 via checked.be.