MWA: 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.
MWA
Largest movements
- Current assets +€4,379
up €4,379 (+6.1%), from €72,335 to €76,714
of which Receivables within one year: +€18,573
- Equity +€8,562
up €8,562 (+14.3%), from €59,706 to €68,268
of which Profit (loss) carried forward: +€8,562
- Debts -€4,183
down €4,183 (-30.7%), from €13,629 to €9,446
- Taxes -€2,393
no longer reported in 2020 (was €2,393)
- Gross operating margin -€857
down €857 (-5.9%), from €14,465 to €13,608
From the 2018 result to the 2020 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2018 | 2020 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,335 | €77,714 | +€4,379 | +6.0% |
| Fixed assets | 21/28 | €1,000 | €1,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €72,335 | €76,714 | +€4,379 | +6.1% |
| Stocks and contracts in progress | 3 | €3,122 | €2,771 | -€350 | -11.2% |
| Amounts receivable within one year | 40/41 | €50,405 | €68,978 | +€18,573 | +36.8% |
| Cash at bank and in hand | 54/58 | €7,262 | €3,715 | -€3,547 | -48.8% |
| Total equity and liabilities | 10/49 | €73,335 | €77,714 | +€4,379 | +6.0% |
| Equity | 10/15 | €59,706 | €68,268 | +€8,562 | +14.3% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,246 | €47,808 | +€8,562 | +21.8% |
| Amounts payable | 17/49 | €13,629 | €9,446 | -€4,183 | -30.7% |
| Amounts payable within one year | 42/48 | €2,999 | €9,284 | +€6,285 | +210% |
| Trade debts | 44 | €606 | €4,989 | +€4,383 | +723% |
| Gross operating margin | 9900 | €14,465 | €13,608 | -€857 | -5.9% |
| Operating profit (loss) | 9901 | €13,268 | €8,843 | -€4,425 | -33.4% |
| Recurring financial charges | 65 | €1,084 | €903 | -€181 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €12,184 | €7,940 | -€4,244 | -34.8% |
| Income taxes | 67/77 | €2,393 | - | -€2,393 | |
| Profit (loss) for the period | 9904 | €9,791 | €7,940 | -€1,851 | -18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,791 | €7,940 | -€1,851 | -18.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2018 and 31 December 2020. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.