PaWoR: 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.
PaWoR
Largest movements
- Receivables after one year -€47,486
down €47,486 (-100.0%), from €47,486 to €0
- Receivables within one year -€22,280
down €22,280 (-42.9%), from €51,970 to €29,690
of which Trade receivables: -€16,361
- Cash -€10,155
down €10,155 (-25.5%), from €39,800 to €29,645
mainly Other debts (-€77,378) and Tax, wage and social debts (-€6,727)
- Tangible fixed assets -€4,037
down €4,037 (-14.1%), from €28,569 to €24,533
of which Other tangible fixed assets: -€3,688
- Other debts -€77,378
down €77,378 (-100.0%), from €77,378 to €0
- Profit (loss) carried forward +€7,785
up €7,785, from €0 to €7,785
- Tax, wage and social debts -€6,727
down €6,727 (-83.8%), from €8,026 to €1,299
- Trade debts -€5,817
down €5,817 (-100.0%), from €5,817 to €0
- Debts after one year -€4,067
down €4,067 (-20.5%), from €19,843 to €15,776
- Gross operating margin -€73,843
down €73,843 (-84.6%), from €87,315 to €13,472
- Taxes -€15,145
down €15,145 (-85.2%), from €17,781 to €2,637
- Financial charges -€1,415
down €1,415 (-53.1%), from €2,662 to €1,247
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 | €171,428 | €86,233 | -€85,195 | -49.7% |
| Fixed assets | 21/28 | €28,569 | €24,533 | -€4,037 | -14.1% |
| Tangible fixed assets | 22/27 | €28,569 | €24,533 | -€4,037 | -14.1% |
| Furniture and vehicles | 24 | €605 | €256 | -€349 | -57.7% |
| Other tangible fixed assets | 26 | €27,964 | €24,277 | -€3,688 | -13.2% |
| Current assets | 29/58 | €142,858 | €61,700 | -€81,159 | -56.8% |
| Amounts receivable after more than one year | 29 | €47,486 | €0 | -€47,486 | -100.0% |
| Other amounts receivable | 291 | €47,486 | €0 | -€47,486 | -100.0% |
| Amounts receivable within one year | 40/41 | €51,970 | €29,690 | -€22,280 | -42.9% |
| Trade receivables | 40 | €17,311 | €950 | -€16,361 | -94.5% |
| Other amounts receivable | 41 | €34,659 | €28,740 | -€5,919 | -17.1% |
| Cash at bank and in hand | 54/58 | €39,800 | €29,645 | -€10,155 | -25.5% |
| Deferred charges and accrued income | 490/1 | €3,602 | €2,364 | -€1,238 | -34.4% |
| Total equity and liabilities | 10/49 | €171,428 | €86,233 | -€85,195 | -49.7% |
| Equity | 10/15 | €56,356 | €64,141 | +€7,785 | +13.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €51,356 | €51,356 | = | 0.0% |
| Distributable reserves | 133 | €51,356 | €51,356 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €7,785 | +€7,785 | |
| Amounts payable | 17/49 | €115,072 | €22,092 | -€92,981 | -80.8% |
| Amounts payable after more than one year | 17 | €19,843 | €15,776 | -€4,067 | -20.5% |
| Financial debts | 170/4 | €19,843 | €15,776 | -€4,067 | -20.5% |
| Amounts payable within one year | 42/48 | €95,230 | €5,366 | -€89,864 | -94.4% |
| Current portion of amounts payable after more than one year | 42 | €4,009 | €4,067 | +€57 | +1.4% |
| Trade debts | 44 | €5,817 | €0 | -€5,817 | -100.0% |
| Suppliers | 440/4 | €5,817 | €0 | -€5,817 | -100.0% |
| Taxes, remuneration and social security | 45 | €8,026 | €1,299 | -€6,727 | -83.8% |
| Taxes | 450/3 | €8,026 | €1,299 | -€6,727 | -83.8% |
| Other amounts payable | 47/48 | €77,378 | €0 | -€77,378 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €950 | +€950 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,037 | €4,037 | = | 0.0% |
| Other operating charges | 640/8 | - | €63 | +€63 | |
| Gross operating margin | 9900 | €87,315 | €13,472 | -€73,843 | -84.6% |
| Operating profit (loss) | 9901 | €83,279 | €9,372 | -€73,907 | -88.7% |
| Financial income | 75/76B | €1,477 | €2,298 | +€821 | +55.6% |
| Recurring financial income | 75 | €1,477 | €2,298 | +€821 | +55.6% |
| Financial charges | 65/66B | €2,662 | €1,247 | -€1,415 | -53.1% |
| Recurring financial charges | 65 | €2,662 | €1,247 | -€1,415 | -53.1% |
| Profit (loss) for the period before taxes | 9903 | €82,093 | €10,422 | -€71,671 | -87.3% |
| Income taxes | 67/77 | €17,781 | €2,637 | -€15,145 | -85.2% |
| Profit (loss) for the period | 9904 | €64,312 | €7,785 | -€56,527 | -87.9% |
| Profit (loss) for the period to be appropriated | 9905 | €64,312 | €7,785 | -€56,527 | -87.9% |
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 5 October 2026 via checked.be.