LWAXANA: 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.
LWAXANA
Largest movements
- Financial fixed assets +€475,000
up €475,000 (+259%), from €183,300 to €658,300
- Receivables within one year -€157,312
down €157,312 (-36.4%), from €431,877 to €274,565
of which Other amounts receivable: -€176,852
- Short-term financial debts +€326,699
new in 2025: €326,699
- Reserves -€23,003
down €23,003 (-6.6%), from €349,149 to €326,146
of which Distributable reserves: -€19,612
- Debts after one year +€13,073
up €13,073 (+3.1%), from €416,557 to €429,629
of which Other amounts payable: +€28,073
- Financial charges +€15,170
up €15,170 (+559%), from €2,715 to €17,885
- Gross operating margin +€6,670
up €6,670 (+772%), from €864 to €7,534
- Depreciation +€3,067
up €3,067 (+40.0%), from €7,670 to €10,738
- Other operating charges -€844
down €844 (-28.6%), from €2,954 to €2,110
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 | €868,338 | €1,186,414 | +€318,076 | +36.6% |
| Fixed assets | 21/28 | €420,912 | €903,155 | +€482,243 | +115% |
| Tangible fixed assets | 22/27 | €237,612 | €244,855 | +€7,243 | +3.0% |
| Land and buildings | 22 | €237,612 | €244,855 | +€7,243 | +3.0% |
| Financial fixed assets | 28 | €183,300 | €658,300 | +€475,000 | +259% |
| Current assets | 29/58 | €447,427 | €283,260 | -€164,167 | -36.7% |
| Amounts receivable within one year | 40/41 | €431,877 | €274,565 | -€157,312 | -36.4% |
| Trade receivables | 40 | €14,347 | €33,887 | +€19,540 | +136% |
| Other amounts receivable | 41 | €417,530 | €240,678 | -€176,852 | -42.4% |
| Cash at bank and in hand | 54/58 | €15,446 | €8,586 | -€6,860 | -44.4% |
| Deferred charges and accrued income | 490/1 | €104 | €108 | +€4 | +4.2% |
| Total equity and liabilities | 10/49 | €868,338 | €1,186,414 | +€318,076 | +36.6% |
| Equity | 10/15 | €369,149 | €346,146 | -€23,003 | -6.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €349,149 | €326,146 | -€23,003 | -6.6% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Tax-exempt reserves | 132 | €201,604 | €200,213 | -€1,391 | -0.7% |
| Distributable reserves | 133 | €145,546 | €125,933 | -€19,612 | -13.5% |
| Provisions and deferred taxes | 16 | €67,201 | €66,738 | -€464 | -0.7% |
| Deferred taxes | 168 | €67,201 | €66,738 | -€464 | -0.7% |
| Amounts payable | 17/49 | €431,988 | €773,531 | +€341,543 | +79.1% |
| Amounts payable after more than one year | 17 | €416,557 | €429,629 | +€13,073 | +3.1% |
| Financial debts | 170/4 | €180,996 | €165,996 | -€15,000 | -8.3% |
| Other amounts payable | 178/9 | €235,561 | €263,633 | +€28,073 | +11.9% |
| Amounts payable within one year | 42/48 | €15,431 | €343,901 | +€328,470 | +2,129% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €15,000 | = | 0.0% |
| Financial debts | 43 | - | €326,699 | +€326,699 | |
| Credit institutions | 430/8 | - | €326,699 | +€326,699 | |
| Trade debts | 44 | €176 | €1,935 | +€1,759 | +1,000% |
| Suppliers | 440/4 | €176 | €1,935 | +€1,759 | +1,000% |
| Taxes, remuneration and social security | 45 | €255 | €268 | +€12 | +4.8% |
| Taxes | 450/3 | €255 | €268 | +€12 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,670 | €10,738 | +€3,067 | +40.0% |
| Other operating charges | 640/8 | €2,954 | €2,110 | -€844 | -28.6% |
| Gross operating margin | 9900 | €864 | €7,534 | +€6,670 | +772% |
| Operating profit (loss) | 9901 | -€9,761 | -€5,314 | +€4,446 | +45.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | +18.8% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +18.8% |
| Financial charges | 65/66B | €2,715 | €17,885 | +€15,170 | +559% |
| Recurring financial charges | 65 | €2,715 | €17,885 | +€15,170 | +559% |
| Profit (loss) for the period before taxes | 9903 | -€12,476 | -€23,199 | -€10,723 | -86.0% |
| Transfer from deferred taxes | 780 | - | €464 | +€464 | |
| Income taxes | 67/77 | €255 | €268 | +€12 | +4.9% |
| Profit (loss) for the period | 9904 | -€12,731 | -€23,003 | -€10,272 | -80.7% |
| Transfer from tax-exempt reserves | 789 | - | €1,391 | +€1,391 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,731 | -€21,612 | -€8,881 | -69.8% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.