P & W 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.
P & W Engineering
Largest movements
- Cash +€309,693
up €309,693 (+36.7%), from €844,222 to €1.2m
mainly Net result for the year (+€446,098) and Depreciation (+€139,515)
- Tangible fixed assets -€137,251
down €137,251 (-17.6%), from €781,868 to €644,617
of which Furniture and vehicles: -€69,478
- Receivables within one year +€98,500
up €98,500 (+52.2%), from €188,555 to €287,055
of which Trade receivables: +€96,491
- Current investments +€75,000
new in 2025: €75,000
- Stocks and contracts +€33,168
up €33,168 (+49.4%), from €67,165 to €100,333
- Reserves +€348,872
up €348,872 (+21.6%), from €1.6m to €2.0m
of which Distributable reserves: +€348,872
- Tax, wage and social debts +€40,467
up €40,467 (+195.9%), from €20,654 to €61,121
of which Taxes: +€42,778
- Trade debts +€26,018
up €26,018 (+496.2%), from €5,244 to €31,262
- Debts after one year -€23,109
down €23,109 (-11.1%), from €208,000 to €184,891
- Gross operating margin +€285,814
up €285,814 (+53.1%), from €538,448 to €824,263
- Taxes +€53,022
up €53,022 (+54.2%), from €97,836 to €150,857
- Staff costs +€11,627
up €11,627 (+16.5%), from €70,283 to €81,910
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 | €1,901,742 | €2,282,811 | +€381,069 | +20.0% |
| Fixed assets | 21/28 | €782,368 | €645,117 | -€137,251 | -17.5% |
| Tangible fixed assets | 22/27 | €781,868 | €644,617 | -€137,251 | -17.6% |
| Land and buildings | 22 | €413,671 | €381,190 | -€32,481 | -7.9% |
| Plant, machinery and equipment | 23 | €109,114 | €73,822 | -€35,292 | -32.3% |
| Furniture and vehicles | 24 | €259,083 | €189,605 | -€69,478 | -26.8% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €1,119,375 | €1,637,695 | +€518,320 | +46.3% |
| Stocks and contracts in progress | 3 | €67,165 | €100,333 | +€33,168 | +49.4% |
| Stocks | 30/36 | €67,165 | €100,333 | +€33,168 | +49.4% |
| Amounts receivable within one year | 40/41 | €188,555 | €287,055 | +€98,500 | +52.2% |
| Trade receivables | 40 | €170,406 | €266,898 | +€96,491 | +56.6% |
| Other amounts receivable | 41 | €18,148 | €20,157 | +€2,009 | +11.1% |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €844,222 | €1,153,914 | +€309,693 | +36.7% |
| Deferred charges and accrued income | 490/1 | €19,433 | €21,392 | +€1,959 | +10.1% |
| Total equity and liabilities | 10/49 | €1,901,742 | €2,282,811 | +€381,069 | +20.0% |
| Equity | 10/15 | €1,633,556 | €1,982,428 | +€348,872 | +21.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,615,006 | €1,963,878 | +€348,872 | +21.6% |
| Tax-exempt reserves | 132 | €121 | €121 | = | 0.0% |
| Distributable reserves | 133 | €1,614,885 | €1,963,757 | +€348,872 | +21.6% |
| Amounts payable | 17/49 | €268,186 | €300,383 | +€32,197 | +12.0% |
| Amounts payable after more than one year | 17 | €208,000 | €184,891 | -€23,109 | -11.1% |
| Financial debts | 170/4 | €208,000 | €184,891 | -€23,109 | -11.1% |
| Amounts payable within one year | 42/48 | €59,402 | €115,492 | +€56,090 | +94.4% |
| Current portion of amounts payable after more than one year | 42 | €32,670 | €23,109 | -€9,562 | -29.3% |
| Trade debts | 44 | €5,244 | €31,262 | +€26,018 | +496.2% |
| Suppliers | 440/4 | €5,244 | €31,262 | +€26,018 | +496.2% |
| Taxes, remuneration and social security | 45 | €20,654 | €61,121 | +€40,467 | +195.9% |
| Taxes | 450/3 | €13,000 | €55,778 | +€42,778 | +329.1% |
| Remuneration and social security | 454/9 | €7,654 | €5,343 | -€2,312 | -30.2% |
| Other amounts payable | 47/48 | €833 | - | -€833 | |
| Accrued charges and deferred income | 492/3 | €785 | - | -€785 | |
| Non-recurring operating income | 76A | €28,416 | - | -€28,416 | |
| Remuneration, social security and pensions | 62 | €70,283 | €81,910 | +€11,627 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,642 | €139,515 | +€5,872 | +4.4% |
| Other operating charges | 640/8 | €9,457 | €8,326 | -€1,130 | -12.0% |
| Non-recurring operating charges | 66A | €52 | - | -€52 | |
| Gross operating margin | 9900 | €538,448 | €824,263 | +€285,814 | +53.1% |
| Operating profit (loss) | 9901 | €325,015 | €594,512 | +€269,497 | +82.9% |
| Financial income | 75/76B | €2,778 | €6,303 | +€3,526 | +126.9% |
| Recurring financial income | 75 | €2,778 | €6,303 | +€3,526 | +126.9% |
| Financial charges | 65/66B | €4,032 | €3,860 | -€173 | -4.3% |
| Recurring financial charges | 65 | €4,032 | €3,860 | -€173 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €323,760 | €596,956 | +€273,195 | +84.4% |
| Income taxes | 67/77 | €97,836 | €150,857 | +€53,022 | +54.2% |
| Profit (loss) for the period | 9904 | €225,924 | €446,098 | +€220,174 | +97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €225,924 | €446,098 | +€220,174 | +97.5% |
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 11 October 2026 via checked.be.