LWCO: 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.
What changed
LWCO
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€101,024
2024 · €131,748-€30,724
Equity
€140,798
2024 · €39,774+€101,024
Cash
€287,238
2024 · €209,484+€77,754
Balance sheet total
€3.0m
2024 · €2.7m+€337,053
Largest movements
Assets
- Current investments +€250,000
new in 2025: €250,000
- Cash +€77,754
up €77,754 (+37.1%), from €209,484 to €287,238
mainly Other debts (+€165,222) and Net result for the year (+€101,024)
Equity and liabilities
- Other debts +€165,222
up €165,222 (+6979.4%), from €2,367 to €167,589
- Profit (loss) carried forward +€101,024
up €101,024 (+45.2%), from -€223,567 to -€122,543
- Trade debts +€53,677
up €53,677 (+863.2%), from €6,218 to €59,895
Income statement
- Gross operating margin -€20,883
down €20,883 (-7.9%), from €264,778 to €243,895
- Depreciation +€3,342
up €3,342 (+5.0%), from €67,074 to €70,416
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.
Result 2024
€131,748
Gross operating margin
-€20,883
Depreciation
-€3,342
Other operating charges
+€1,231
Other operating items
-€6,409
Financial income
+€650
Financial charges
-€1,953
Taxes
-€18
Result 2025
€101,024
Cash bridge derived
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.
From operations
+€365,553
Investment
-€317,278
Financing
+€29,479
Cash 2024
€209,484
From operations (derived)
+€365,553
Net result for the year
+€101,024
Depreciation
+€70,416
Stocks and contracts
-€20,268
Receivables within one year
+€6,000
Deferred charges and accrued income
+€1,830
Trade debts
+€53,677
Tax, wage and social debts
-€12,349
Other debts
+€165,222
Investment (derived)
-€317,278
Investment in fixed assets (net)
-€67,278
Current investments
-€250,000
Financing
+€29,479
Debts after one year
+€26,556
Current portion of long-term debt
+€2,924
Cash 2025
€287,238
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,653,150 | €2,990,202 | +€337,053 | +12.7% |
| Fixed assets | 21/28 | €1,850,490 | €1,847,352 | -€3,139 | -0.2% |
| Tangible fixed assets | 22/27 | €1,850,490 | €1,847,352 | -€3,139 | -0.2% |
| Land and buildings | 22 | €1,741,881 | €1,734,867 | -€7,014 | -0.4% |
| Plant, machinery and equipment | 23 | €5,147 | €2,402 | -€2,745 | -53.3% |
| Furniture and vehicles | 24 | €69,174 | €43,800 | -€25,375 | -36.7% |
| Other tangible fixed assets | 26 | €34,288 | €66,283 | +€31,995 | +93.3% |
| Current assets | 29/58 | €802,659 | €1,142,851 | +€340,192 | +42.4% |
| Stocks and contracts in progress | 3 | €570,884 | €591,152 | +€20,268 | +3.6% |
| Stocks | 30/36 | €570,884 | €591,152 | +€20,268 | +3.6% |
| Amounts receivable within one year | 40/41 | €17,911 | €11,910 | -€6,000 | -33.5% |
| Trade receivables | 40 | €17,288 | €6,125 | -€11,163 | -64.6% |
| Other amounts receivable | 41 | €623 | €5,785 | +€5,163 | +829.2% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €209,484 | €287,238 | +€77,754 | +37.1% |
| Deferred charges and accrued income | 490/1 | €4,381 | €2,550 | -€1,830 | -41.8% |
| Total equity and liabilities | 10/49 | €2,653,150 | €2,990,202 | +€337,053 | +12.7% |
| Equity | 10/15 | €39,774 | €140,798 | +€101,024 | +254.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €242,881 | €242,881 | = | 0.0% |
| Distributable reserves | 133 | €242,881 | €242,881 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€223,567 | -€122,543 | +€101,024 | +45.2% |
| Amounts payable | 17/49 | €2,613,376 | €2,849,405 | +€236,029 | +9.0% |
| Amounts payable after more than one year | 17 | €2,493,386 | €2,519,941 | +€26,556 | +1.1% |
| Financial debts | 170/4 | €1,708,386 | €1,619,941 | -€88,444 | -5.2% |
| Other amounts payable | 178/9 | €785,000 | €900,000 | +€115,000 | +14.6% |
| Amounts payable within one year | 42/48 | €107,941 | €317,414 | +€209,473 | +194.1% |
| Current portion of amounts payable after more than one year | 42 | €85,521 | €88,444 | +€2,924 | +3.4% |
| Trade debts | 44 | €6,218 | €59,895 | +€53,677 | +863.2% |
| Suppliers | 440/4 | €6,218 | €59,895 | +€53,677 | +863.2% |
| Taxes, remuneration and social security | 45 | €13,834 | €1,485 | -€12,349 | -89.3% |
| Taxes | 450/3 | €13,834 | €1,485 | -€12,349 | -89.3% |
| Other amounts payable | 47/48 | €2,367 | €167,589 | +€165,222 | +6979.4% |
| Accrued charges and deferred income | 492/3 | €12,050 | €12,050 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,074 | €70,416 | +€3,342 | +5.0% |
| Other operating charges | 640/8 | €6,993 | €5,762 | -€1,231 | -17.6% |
| Non-recurring operating charges | 66A | - | €6,409 | +€6,409 | |
| Gross operating margin | 9900 | €264,778 | €243,895 | -€20,883 | -7.9% |
| Operating profit (loss) | 9901 | €190,711 | €161,307 | -€29,403 | -15.4% |
| Financial income | 75/76B | €4,016 | €4,665 | +€650 | +16.2% |
| Recurring financial income | 75 | €4,016 | €4,665 | +€650 | +16.2% |
| Financial charges | 65/66B | €62,396 | €64,349 | +€1,953 | +3.1% |
| Recurring financial charges | 65 | €62,396 | €64,349 | +€1,953 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €132,330 | €101,624 | -€30,707 | -23.2% |
| Income taxes | 67/77 | €582 | €600 | +€18 | +3.0% |
| Profit (loss) for the period | 9904 | €131,748 | €101,024 | -€30,724 | -23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €131,748 | €101,024 | -€30,724 | -23.3% |
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 10 October 2026 via checked.be.