LW 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.
LW Management
Largest movements
- Cash +€6,932
up €6,932 (+890%), from €779 to €7,710
mainly Trade debts (+€8,592) and Tax, wage and social debts (+€4,363)
- Receivables within one year +€6,188
up €6,188 (+251%), from €2,469 to €8,657
of which Trade receivables: +€6,081
- Trade debts +€8,592
up €8,592 (+241%), from €3,568 to €12,161
- Tax, wage and social debts +€4,363
up €4,363 (+337%), from €1,293 to €5,657
- Profit (loss) carried forward -€4,117
new in 2025: -€4,117
- Advances received +€3,025
new in 2025: €3,025
- Other debts +€2,899
up €2,899 (+535%), from €542 to €3,441
- Gross operating margin +€9,117
up €9,117, from -€9,001 to €116
- Financial charges -€238
down €238 (-7.3%), from €3,277 to €3,039
- Depreciation +€194
up €194 (+9.1%), from €2,140 to €2,334
- Taxes -€177
down €177 (-55.1%), from €322 to €144
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 | €15,118 | €28,226 | +€13,108 | +86.7% |
| Fixed assets | 21/28 | €11,870 | €11,633 | -€237 | -2.0% |
| Tangible fixed assets | 22/27 | €11,870 | €11,633 | -€237 | -2.0% |
| Furniture and vehicles | 24 | €419 | €1,887 | +€1,469 | +351% |
| Other tangible fixed assets | 26 | €11,451 | €9,745 | -€1,706 | -14.9% |
| Current assets | 29/58 | €3,248 | €16,594 | +€13,346 | +411% |
| Amounts receivable within one year | 40/41 | €2,469 | €8,657 | +€6,188 | +251% |
| Trade receivables | 40 | €2,469 | €8,550 | +€6,081 | +246% |
| Other amounts receivable | 41 | - | €107 | +€107 | |
| Cash at bank and in hand | 54/58 | €779 | €7,710 | +€6,932 | +890% |
| Deferred charges and accrued income | 490/1 | - | €226 | +€226 | |
| Total equity and liabilities | 10/49 | €15,118 | €28,226 | +€13,108 | +86.7% |
| Equity | 10/15 | €9,714 | €3,943 | -€5,771 | -59.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €3,514 | €1,860 | -€1,654 | -47.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,654 | - | -€1,654 | |
| Profit (loss) carried forward | 14 | - | -€4,117 | -€4,117 | |
| Amounts payable | 17/49 | €5,404 | €24,283 | +€18,879 | +349% |
| Amounts payable within one year | 42/48 | €5,404 | €24,283 | +€18,879 | +349% |
| Trade debts | 44 | €3,568 | €12,161 | +€8,592 | +241% |
| Suppliers | 440/4 | €3,568 | €12,161 | +€8,592 | +241% |
| Advances received on contracts in progress | 46 | - | €3,025 | +€3,025 | |
| Taxes, remuneration and social security | 45 | €1,293 | €5,657 | +€4,363 | +337% |
| Taxes | 450/3 | €1,293 | €5,657 | +€4,363 | +337% |
| Other amounts payable | 47/48 | €542 | €3,441 | +€2,899 | +535% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,140 | €2,334 | +€194 | +9.1% |
| Other operating charges | 640/8 | €387 | €370 | -€17 | -4.4% |
| Gross operating margin | 9900 | -€9,001 | €116 | +€9,117 | |
| Operating profit (loss) | 9901 | -€11,529 | -€2,588 | +€8,941 | +77.6% |
| Financial income | 75/76B | €29 | €0 | -€29 | -98.5% |
| Recurring financial income | 75 | €29 | €0 | -€29 | -98.5% |
| Financial charges | 65/66B | €3,277 | €3,039 | -€238 | -7.3% |
| Recurring financial charges | 65 | €3,277 | €3,039 | -€238 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | -€14,776 | -€5,627 | +€9,149 | +61.9% |
| Income taxes | 67/77 | €322 | €144 | -€177 | -55.1% |
| Profit (loss) for the period | 9904 | -€15,098 | -€5,771 | +€9,327 | +61.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,098 | -€5,771 | +€9,327 | +61.8% |
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 20 October 2026 via checked.be.