P.W.B.: 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.
P.W.B.
Largest movements
- Tangible fixed assets +€92,369
up €92,369 (+16.9%), from €546,650 to €639,019
of which Furniture and vehicles: +€48,474
- Receivables within one year +€34,033
up €34,033 (+70.0%), from €48,641 to €82,674
of which Trade receivables: +€20,930
- Cash -€16,256
down €16,256 (-85.5%), from €19,017 to €2,762
mainly Investment in fixed assets (net) (-€144,659) and Receivables within one year (-€34,033)
- Current portion of long-term debt +€39,083
up €39,083 (+228%), from €17,161 to €56,244
- Other debts +€29,292
up €29,292 (+951%), from €3,080 to €32,372
- Tax, wage and social debts +€24,589
up €24,589 (+40.2%), from €61,135 to €85,724
of which Remuneration and social security: +€20,981
- Debts after one year +€16,786
up €16,786 (+3.3%), from €501,225 to €518,010
- Profit (loss) carried forward +€16,334
up €16,334 (+6,932%), from €236 to €16,570
- Gross operating margin +€127,420
up €127,420 (+104%), from €122,228 to €249,647
- Staff costs +€54,444
up €54,444 (+106%), from €51,320 to €105,764
- Depreciation +€22,114
up €22,114 (+73.3%), from €30,176 to €52,290
- Taxes +€12,557
up €12,557 (+195%), from €6,445 to €19,001
- Financial charges +€3,727
up €3,727 (+29.3%), from €12,713 to €16,440
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €625,242 | €739,384 | +€114,142 | +18.3% |
| Fixed assets | 21/28 | €546,700 | €639,069 | +€92,369 | +16.9% |
| Tangible fixed assets | 22/27 | €546,650 | €639,019 | +€92,369 | +16.9% |
| Land and buildings | 22 | €508,926 | €556,441 | +€47,515 | +9.3% |
| Plant, machinery and equipment | 23 | €30,764 | €27,144 | -€3,620 | -11.8% |
| Furniture and vehicles | 24 | €6,961 | €55,434 | +€48,474 | +696% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €78,542 | €100,315 | +€21,773 | +27.7% |
| Stocks and contracts in progress | 3 | €1,986 | €1,986 | = | 0.0% |
| Stocks | 30/36 | €1,986 | €1,986 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,641 | €82,674 | +€34,033 | +70.0% |
| Trade receivables | 40 | €35,012 | €55,941 | +€20,930 | +59.8% |
| Other amounts receivable | 41 | €13,630 | €26,733 | +€13,103 | +96.1% |
| Cash at bank and in hand | 54/58 | €19,017 | €2,762 | -€16,256 | -85.5% |
| Deferred charges and accrued income | 490/1 | €8,897 | €12,893 | +€3,996 | +44.9% |
| Total equity and liabilities | 10/49 | €625,242 | €739,384 | +€114,142 | +18.3% |
| Equity | 10/15 | €13,986 | €30,320 | +€16,334 | +117% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €1,250 | €1,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,250 | €1,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,250 | €1,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €236 | €16,570 | +€16,334 | +6,932% |
| Amounts payable | 17/49 | €611,256 | €709,064 | +€97,808 | +16.0% |
| Amounts payable after more than one year | 17 | €501,225 | €518,010 | +€16,786 | +3.3% |
| Financial debts | 170/4 | €501,225 | €518,010 | +€16,786 | +3.3% |
| Amounts payable within one year | 42/48 | €110,031 | €191,053 | +€81,022 | +73.6% |
| Current portion of amounts payable after more than one year | 42 | €17,161 | €56,244 | +€39,083 | +228% |
| Trade debts | 44 | €21,245 | €16,713 | -€4,532 | -21.3% |
| Suppliers | 440/4 | €21,245 | €16,713 | -€4,532 | -21.3% |
| Advances received on contracts in progress | 46 | €7,410 | - | -€7,410 | |
| Taxes, remuneration and social security | 45 | €61,135 | €85,724 | +€24,589 | +40.2% |
| Taxes | 450/3 | €52,377 | €55,985 | +€3,608 | +6.9% |
| Remuneration and social security | 454/9 | €8,758 | €29,739 | +€20,981 | +240% |
| Other amounts payable | 47/48 | €3,080 | €32,372 | +€29,292 | +951% |
| Non-recurring operating income | 76A | €9,014 | - | -€9,014 | |
| Remuneration, social security and pensions | 62 | €51,320 | €105,764 | +€54,444 | +106% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,176 | €52,290 | +€22,114 | +73.3% |
| Other operating charges | 640/8 | €11,504 | €10,484 | -€1,020 | -8.9% |
| Non-recurring operating charges | 66A | €5,255 | - | -€5,255 | |
| Gross operating margin | 9900 | €122,228 | €249,647 | +€127,420 | +104% |
| Operating profit (loss) | 9901 | €23,973 | €81,109 | +€57,136 | +238% |
| Financial income | 75/76B | €64 | €1 | -€62 | -97.8% |
| Recurring financial income | 75 | €64 | €1 | -€62 | -97.8% |
| Financial charges | 65/66B | €12,713 | €16,440 | +€3,727 | +29.3% |
| Recurring financial charges | 65 | €12,713 | €16,440 | +€3,727 | +29.3% |
| Profit (loss) for the period before taxes | 9903 | €11,324 | €64,671 | +€53,347 | +471% |
| Income taxes | 67/77 | €6,445 | €19,001 | +€12,557 | +195% |
| Profit (loss) for the period | 9904 | €4,879 | €45,669 | +€40,790 | +836% |
| Profit (loss) for the period to be appropriated | 9905 | €4,879 | €45,669 | +€40,790 | +836% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.