MW Solar & Engineering: 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 Solar & Engineering
Largest movements
- Tangible fixed assets +€177,437
up €177,437 (+2,167%), from €8,188 to €185,625
of which Land and buildings: +€165,615
- Stocks and contracts +€82,392
up €82,392 (+49.7%), from €165,839 to €248,232
- Cash -€10,684
down €10,684 (-48.0%), from €22,278 to €11,594
mainly Investment in fixed assets (net) (-€187,759) and Short-term financial debts (-€105,000)
- Debts after one year +€157,007
new in 2025: €157,007
- Trade debts +€120,762
up €120,762 (+1,626%), from €7,429 to €128,191
- Short-term financial debts -€105,000
no longer reported in 2025 (was €105,000)
- Current portion of long-term debt +€65,675
new in 2025: €65,675
- Tax, wage and social debts +€5,599
up €5,599 (+27.1%), from €20,691 to €26,290
of which Taxes: +€5,559
- Gross operating margin -€56,035
down €56,035 (-55.4%), from €101,192 to €45,158
- Other operating charges +€22,394
up €22,394 (+15,939%), from €141 to €22,534
- Taxes -€17,278
no longer reported in 2025 (was €17,278)
- Depreciation +€5,437
up €5,437 (+85.2%), from €6,385 to €11,822
- Financial charges +€3,359
up €3,359 (+33.0%), from €10,170 to €13,529
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 | €215,090 | €459,252 | +€244,162 | +114% |
| Fixed assets | 21/28 | €9,688 | €185,625 | +€175,937 | +1,816% |
| Tangible fixed assets | 22/27 | €8,188 | €185,625 | +€177,437 | +2,167% |
| Land and buildings | 22 | - | €165,615 | +€165,615 | |
| Plant, machinery and equipment | 23 | €6,944 | €4,229 | -€2,715 | -39.1% |
| Furniture and vehicles | 24 | €1,245 | €15,781 | +€14,536 | +1,168% |
| Financial fixed assets | 28 | €1,500 | - | -€1,500 | |
| Current assets | 29/58 | €205,402 | €273,627 | +€68,225 | +33.2% |
| Stocks and contracts in progress | 3 | €165,839 | €248,232 | +€82,392 | +49.7% |
| Stocks | 30/36 | €165,839 | €248,232 | +€82,392 | +49.7% |
| Amounts receivable within one year | 40/41 | €17,284 | €13,758 | -€3,526 | -20.4% |
| Trade receivables | 40 | €14,446 | €13,758 | -€687 | -4.8% |
| Other amounts receivable | 41 | €2,839 | - | -€2,839 | |
| Cash at bank and in hand | 54/58 | €22,278 | €11,594 | -€10,684 | -48.0% |
| Deferred charges and accrued income | 490/1 | - | €42 | +€42 | |
| Total equity and liabilities | 10/49 | €215,090 | €459,252 | +€244,162 | +114% |
| Equity | 10/15 | €77,219 | €74,491 | -€2,728 | -3.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €67,219 | €64,491 | -€2,728 | -4.1% |
| Distributable reserves | 133 | €67,219 | €64,491 | -€2,728 | -4.1% |
| Amounts payable | 17/49 | €137,871 | €384,760 | +€246,890 | +179% |
| Amounts payable after more than one year | 17 | - | €157,007 | +€157,007 | |
| Financial debts | 170/4 | - | €157,007 | +€157,007 | |
| Amounts payable within one year | 42/48 | €137,299 | €226,704 | +€89,405 | +65.1% |
| Current portion of amounts payable after more than one year | 42 | - | €65,675 | +€65,675 | |
| Financial debts | 43 | €105,000 | - | -€105,000 | |
| Other loans | 439 | €105,000 | - | -€105,000 | |
| Trade debts | 44 | €7,429 | €128,191 | +€120,762 | +1,626% |
| Suppliers | 440/4 | €7,429 | €128,191 | +€120,762 | +1,626% |
| Taxes, remuneration and social security | 45 | €20,691 | €26,290 | +€5,599 | +27.1% |
| Taxes | 450/3 | €17,278 | €22,837 | +€5,559 | +32.2% |
| Remuneration and social security | 454/9 | €3,413 | €3,453 | +€40 | +1.2% |
| Other amounts payable | 47/48 | €4,179 | €6,547 | +€2,368 | +56.7% |
| Accrued charges and deferred income | 492/3 | €572 | €1,049 | +€478 | +83.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,385 | €11,822 | +€5,437 | +85.2% |
| Other operating charges | 640/8 | €141 | €22,534 | +€22,394 | +15,939% |
| Gross operating margin | 9900 | €101,192 | €45,158 | -€56,035 | -55.4% |
| Operating profit (loss) | 9901 | €94,667 | €10,801 | -€83,866 | -88.6% |
| Financial income | 75/76B | €1 | €0 | -€1 | -90.9% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -90.9% |
| Financial charges | 65/66B | €10,170 | €13,529 | +€3,359 | +33.0% |
| Recurring financial charges | 65 | €10,170 | €13,529 | +€3,359 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €84,498 | -€2,728 | -€87,225 | |
| Income taxes | 67/77 | €17,278 | - | -€17,278 | |
| Profit (loss) for the period | 9904 | €67,219 | -€2,728 | -€69,947 | |
| Profit (loss) for the period to be appropriated | 9905 | €67,219 | -€2,728 | -€69,947 |
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 19 October 2026 via checked.be.