MOWA: 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.
MOWA
Largest movements
- Tangible fixed assets -€32,014
down €32,014 (-11.0%), from €291,613 to €259,600
of which Land and buildings: -€32,570
- Receivables within one year +€28,998
up €28,998 (+64.7%), from €44,787 to €73,785
of which Trade receivables: +€26,100
- Financial fixed assets -€5,721
down €5,721 (-3.7%), from €152,580 to €146,858
- Cash +€5,171
up €5,171 (+132.9%), from €3,892 to €9,063
mainly Investment in fixed assets (net) (+€28,388) and Debts after one year (+€25,360)
- Other debts -€35,909
down €35,909 (-76.5%), from €46,919 to €11,010
- Trade debts -€27,483
down €27,483 (-90.6%), from €30,330 to €2,847
- Debts after one year +€25,360
up €25,360 (+7.5%), from €338,235 to €363,595
- Tax, wage and social debts +€14,551
up €14,551 (+99.6%), from €14,614 to €29,165
of which Taxes: +€14,551
- Reserves +€9,816
up €9,816 (+38.2%), from €25,672 to €35,489
- Gross operating margin -€13,184
down €13,184 (-27.9%), from €47,240 to €34,056
- Financial charges +€5,134
up €5,134 (+125.6%), from €4,089 to €9,223
- Depreciation -€3,719
down €3,719 (-28.5%), from €13,066 to €9,347
- Taxes -€1,439
down €1,439 (-29.4%), from €4,893 to €3,454
- Other operating charges -€797
down €797 (-24.7%), from €3,225 to €2,428
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €494,151 | €490,621 | -€3,530 | -0.7% |
| Fixed assets | 21/28 | €444,193 | €406,458 | -€37,735 | -8.5% |
| Tangible fixed assets | 22/27 | €291,613 | €259,600 | -€32,014 | -11.0% |
| Land and buildings | 22 | €283,680 | €251,110 | -€32,570 | -11.5% |
| Plant, machinery and equipment | 23 | €1,599 | €3,888 | +€2,289 | +143.1% |
| Furniture and vehicles | 24 | €6,334 | €4,602 | -€1,733 | -27.4% |
| Financial fixed assets | 28 | €152,580 | €146,858 | -€5,721 | -3.7% |
| Current assets | 29/58 | €49,958 | €84,163 | +€34,205 | +68.5% |
| Amounts receivable within one year | 40/41 | €44,787 | €73,785 | +€28,998 | +64.7% |
| Trade receivables | 40 | €44,770 | €70,870 | +€26,100 | +58.3% |
| Other amounts receivable | 41 | €17 | €2,916 | +€2,899 | +16871.8% |
| Cash at bank and in hand | 54/58 | €3,892 | €9,063 | +€5,171 | +132.9% |
| Deferred charges and accrued income | 490/1 | €1,279 | €1,314 | +€36 | +2.8% |
| Total equity and liabilities | 10/49 | €494,151 | €490,621 | -€3,530 | -0.7% |
| Equity | 10/15 | €40,672 | €50,489 | +€9,816 | +24.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €25,672 | €35,489 | +€9,816 | +38.2% |
| Distributable reserves | 133 | €25,672 | €35,489 | +€9,816 | +38.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €453,479 | €440,132 | -€13,347 | -2.9% |
| Amounts payable after more than one year | 17 | €338,235 | €363,595 | +€25,360 | +7.5% |
| Financial debts | 170/4 | €338,235 | €363,595 | +€25,360 | +7.5% |
| Amounts payable within one year | 42/48 | €115,244 | €73,932 | -€41,313 | -35.8% |
| Current portion of amounts payable after more than one year | 42 | €23,381 | €30,909 | +€7,528 | +32.2% |
| Trade debts | 44 | €30,330 | €2,847 | -€27,483 | -90.6% |
| Suppliers | 440/4 | €30,330 | €2,847 | -€27,483 | -90.6% |
| Taxes, remuneration and social security | 45 | €14,614 | €29,165 | +€14,551 | +99.6% |
| Taxes | 450/3 | €11,764 | €26,315 | +€14,551 | +123.7% |
| Remuneration and social security | 454/9 | €2,850 | €2,850 | = | 0.0% |
| Other amounts payable | 47/48 | €46,919 | €11,010 | -€35,909 | -76.5% |
| Accrued charges and deferred income | 492/3 | - | €2,605 | +€2,605 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,066 | €9,347 | -€3,719 | -28.5% |
| Other operating charges | 640/8 | €3,225 | €2,428 | -€797 | -24.7% |
| Gross operating margin | 9900 | €47,240 | €34,056 | -€13,184 | -27.9% |
| Operating profit (loss) | 9901 | €30,949 | €22,281 | -€8,668 | -28.0% |
| Financial income | 75/76B | - | €212 | +€212 | |
| Recurring financial income | 75 | - | €212 | +€212 | |
| Financial charges | 65/66B | €4,089 | €9,223 | +€5,134 | +125.6% |
| Recurring financial charges | 65 | €4,089 | €9,223 | +€5,134 | +125.6% |
| Profit (loss) for the period before taxes | 9903 | €26,861 | €13,270 | -€13,590 | -50.6% |
| Income taxes | 67/77 | €4,893 | €3,454 | -€1,439 | -29.4% |
| Profit (loss) for the period | 9904 | €21,967 | €9,816 | -€12,151 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,967 | €9,816 | -€12,151 | -55.3% |
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.