MW GROUP: what changed
Two fiscal 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 GROUP
Largest movements
- Cash +€116,522
new in 2025: €116,522
mainly Net result for the year (+€64,815) and Receivables within one year (+€48,561)
- Receivables within one year -€48,561
down €48,561 (-84.5%), from €57,452 to €8,891
of which Other amounts receivable: -€57,452
- Tangible fixed assets +€14,078
up €14,078 (+308.4%), from €4,565 to €18,643
of which Furniture and vehicles: +€15,510
- Profit (loss) carried forward +€63,982
up €63,982 (+133.9%), from €47,778 to €111,760
- Tax, wage and social debts +€14,171
up €14,171 (+113.9%), from €12,438 to €26,609
- Other debts +€4,350
up €4,350 (+543.8%), from €800 to €5,150
- Gross operating margin +€22,708
up €22,708 (+36.4%), from €62,327 to €85,035
- Taxes +€4,451
up €4,451 (+35.8%), from €12,437 to €16,888
- Depreciation +€1,644
up €1,644 (+126.2%), from €1,303 to €2,947
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 | €62,266 | €144,769 | +€82,503 | +132.5% |
| Fixed assets | 21/28 | €4,814 | €18,867 | +€14,053 | +291.9% |
| Intangible fixed assets | 21 | €249 | €224 | -€25 | -10.0% |
| Tangible fixed assets | 22/27 | €4,565 | €18,643 | +€14,078 | +308.4% |
| Plant, machinery and equipment | 23 | €2,833 | €1,401 | -€1,432 | -50.5% |
| Furniture and vehicles | 24 | €1,732 | €17,242 | +€15,510 | +895.5% |
| Current assets | 29/58 | €57,452 | €125,902 | +€68,450 | +119.1% |
| Amounts receivable within one year | 40/41 | €57,452 | €8,891 | -€48,561 | -84.5% |
| Trade receivables | 40 | - | €8,891 | +€8,891 | |
| Other amounts receivable | 41 | €57,452 | - | -€57,452 | |
| Cash at bank and in hand | 54/58 | - | €116,522 | +€116,522 | |
| Deferred charges and accrued income | 490/1 | - | €489 | +€489 | |
| Total equity and liabilities | 10/49 | €62,266 | €144,769 | +€82,503 | +132.5% |
| Equity | 10/15 | €49,028 | €113,010 | +€63,982 | +130.5% |
| Contributions | 10/11 | €1,250 | €1,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,778 | €111,760 | +€63,982 | +133.9% |
| Amounts payable | 17/49 | €13,238 | €31,759 | +€18,521 | +139.9% |
| Amounts payable within one year | 42/48 | €13,238 | €31,759 | +€18,521 | +139.9% |
| Taxes, remuneration and social security | 45 | €12,438 | €26,609 | +€14,171 | +113.9% |
| Taxes | 450/3 | €12,438 | €26,609 | +€14,171 | +113.9% |
| Other amounts payable | 47/48 | €800 | €5,150 | +€4,350 | +543.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,303 | €2,947 | +€1,644 | +126.2% |
| Other operating charges | 640/8 | - | €583 | +€583 | |
| Gross operating margin | 9900 | €62,327 | €85,035 | +€22,708 | +36.4% |
| Operating profit (loss) | 9901 | €61,024 | €81,505 | +€20,481 | +33.6% |
| Financial income | 75/76B | €50 | €306 | +€256 | +512.0% |
| Recurring financial income | 75 | €50 | €306 | +€256 | +512.0% |
| Financial charges | 65/66B | €59 | €108 | +€49 | +83.1% |
| Recurring financial charges | 65 | €59 | €108 | +€49 | +83.1% |
| Profit (loss) for the period before taxes | 9903 | €61,015 | €81,703 | +€20,688 | +33.9% |
| Income taxes | 67/77 | €12,437 | €16,888 | +€4,451 | +35.8% |
| Profit (loss) for the period | 9904 | €48,578 | €64,815 | +€16,237 | +33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €48,578 | €64,815 | +€16,237 | +33.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.