MW FISCA: 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.
MW FISCA
Largest movements
- Intangible fixed assets -€28,723
down €28,723 (-15.9%), from €180,775 to €152,052
- Receivables within one year +€23,903
up €23,903 (+107%), from €22,248 to €46,151
of which Trade receivables: +€14,242
- Cash +€6,506
up €6,506 (+51.1%), from €12,740 to €19,246
mainly Depreciation (+€28,894) and Current portion of long-term debt (+€6,548)
- Trade debts -€15,493
down €15,493 (-43.0%), from €36,024 to €20,531
- Current portion of long-term debt +€6,548
up €6,548 (+29.4%), from €22,255 to €28,803
- Tax, wage and social debts +€6,100
up €6,100 (+33.3%), from €18,342 to €24,441
of which Taxes: +€4,341
- Reserves +€5,000
up €5,000 (+100%), from €5,000 to €10,000
- Gross operating margin +€18,807
up €18,807 (+28.7%), from €65,572 to €84,379
- Staff costs +€9,097
up €9,097 (+32.4%), from €28,120 to €37,217
- Depreciation +€8,670
up €8,670 (+42.9%), from €20,225 to €28,894
- Financial charges +€2,593
up €2,593 (+58.3%), from €4,448 to €7,041
- Other operating charges -€1,035
down €1,035 (-45.7%), from €2,268 to €1,232
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 | €218,918 | €221,678 | +€2,760 | +1.3% |
| Fixed assets | 21/28 | €180,980 | €154,086 | -€26,894 | -14.9% |
| Intangible fixed assets | 21 | €180,775 | €152,052 | -€28,723 | -15.9% |
| Tangible fixed assets | 22/27 | - | €1,828 | +€1,828 | |
| Other tangible fixed assets | 26 | - | €1,828 | +€1,828 | |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €37,938 | €67,592 | +€29,654 | +78.2% |
| Amounts receivable within one year | 40/41 | €22,248 | €46,151 | +€23,903 | +107% |
| Trade receivables | 40 | €16,591 | €30,833 | +€14,242 | +85.8% |
| Other amounts receivable | 41 | €5,657 | €15,318 | +€9,661 | +171% |
| Cash at bank and in hand | 54/58 | €12,740 | €19,246 | +€6,506 | +51.1% |
| Deferred charges and accrued income | 490/1 | €2,951 | €2,196 | -€755 | -25.6% |
| Total equity and liabilities | 10/49 | €218,918 | €221,678 | +€2,760 | +1.3% |
| Equity | 10/15 | €17,005 | €22,854 | +€5,849 | +34.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €10,000 | +€5,000 | +100% |
| Distributable reserves | 133 | €5,000 | €10,000 | +€5,000 | +100% |
| Profit (loss) carried forward | 14 | €2,005 | €2,854 | +€849 | +42.3% |
| Amounts payable | 17/49 | €201,913 | €198,824 | -€3,089 | -1.5% |
| Amounts payable after more than one year | 17 | €125,234 | €125,049 | -€185 | -0.1% |
| Financial debts | 170/4 | €125,234 | €125,049 | -€185 | -0.1% |
| Amounts payable within one year | 42/48 | €76,621 | €73,775 | -€2,846 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €22,255 | €28,803 | +€6,548 | +29.4% |
| Trade debts | 44 | €36,024 | €20,531 | -€15,493 | -43.0% |
| Suppliers | 440/4 | €36,024 | €20,531 | -€15,493 | -43.0% |
| Taxes, remuneration and social security | 45 | €18,342 | €24,441 | +€6,100 | +33.3% |
| Taxes | 450/3 | €13,581 | €17,922 | +€4,341 | +32.0% |
| Remuneration and social security | 454/9 | €4,760 | €6,519 | +€1,759 | +37.0% |
| Accrued charges and deferred income | 492/3 | €58 | - | -€58 | |
| Remuneration, social security and pensions | 62 | €28,120 | €37,217 | +€9,097 | +32.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,225 | €28,894 | +€8,670 | +42.9% |
| Other operating charges | 640/8 | €2,268 | €1,232 | -€1,035 | -45.7% |
| Gross operating margin | 9900 | €65,572 | €84,379 | +€18,807 | +28.7% |
| Operating profit (loss) | 9901 | €14,960 | €17,035 | +€2,075 | +13.9% |
| Financial income | 75/76B | €228 | €19 | -€209 | -91.7% |
| Recurring financial income | 75 | €228 | €19 | -€209 | -91.7% |
| Financial charges | 65/66B | €4,448 | €7,041 | +€2,593 | +58.3% |
| Recurring financial charges | 65 | €4,448 | €7,041 | +€2,593 | +58.3% |
| Profit (loss) for the period before taxes | 9903 | €10,739 | €10,012 | -€727 | -6.8% |
| Income taxes | 67/77 | €3,734 | €4,164 | +€429 | +11.5% |
| Profit (loss) for the period | 9904 | €7,005 | €5,849 | -€1,156 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,005 | €5,849 | -€1,156 | -16.5% |
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 28 October 2026 via checked.be.