PEWA: 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.
PEWA
Largest movements
- Receivables after one year +€45,000
up €45,000 (+37.5%), from €120,000 to €165,000
- Receivables within one year -€25,304
down €25,304 (-55.6%), from €45,547 to €20,243
of which Other amounts receivable: -€25,807
- Cash +€6,807
up €6,807 (+15.5%), from €43,926 to €50,733
mainly Receivables within one year (+€25,304) and Tax, wage and social debts (+€12,352)
- Stocks and contracts -€2,971
down €2,971 (-24.2%), from €12,270 to €9,299
- Tax, wage and social debts +€12,352
up €12,352 (+28.1%), from €43,962 to €56,314
of which Taxes: +€14,326
- Trade debts +€11,800
up €11,800 (+40.7%), from €28,993 to €40,794
- Reserves +€3,095
up €3,095 (+2.1%), from €145,877 to €148,972
- Gross operating margin -€29,272
down €29,272 (-13.9%), from €210,661 to €181,389
- Financial income +€5,820
up €5,820 (+456.0%), from €1,276 to €7,097
- Taxes -€4,315
down €4,315 (-63.5%), from €6,792 to €2,476
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 | €229,989 | €257,220 | +€27,231 | +11.8% |
| Fixed assets | 21/28 | €6,529 | €8,617 | +€2,089 | +32.0% |
| Tangible fixed assets | 22/27 | €6,529 | €8,617 | +€2,089 | +32.0% |
| Plant, machinery and equipment | 23 | €1,560 | €1,353 | -€207 | -13.3% |
| Other tangible fixed assets | 26 | €4,969 | €7,265 | +€2,296 | +46.2% |
| Current assets | 29/58 | €223,460 | €248,603 | +€25,142 | +11.3% |
| Amounts receivable after more than one year | 29 | €120,000 | €165,000 | +€45,000 | +37.5% |
| Other amounts receivable | 291 | €120,000 | €165,000 | +€45,000 | +37.5% |
| Stocks and contracts in progress | 3 | €12,270 | €9,299 | -€2,971 | -24.2% |
| Stocks | 30/36 | €12,270 | €9,299 | -€2,971 | -24.2% |
| Amounts receivable within one year | 40/41 | €45,547 | €20,243 | -€25,304 | -55.6% |
| Trade receivables | 40 | - | €504 | +€504 | |
| Other amounts receivable | 41 | €45,547 | €19,739 | -€25,807 | -56.7% |
| Cash at bank and in hand | 54/58 | €43,926 | €50,733 | +€6,807 | +15.5% |
| Deferred charges and accrued income | 490/1 | €1,718 | €3,328 | +€1,610 | +93.7% |
| Total equity and liabilities | 10/49 | €229,989 | €257,220 | +€27,231 | +11.8% |
| Equity | 10/15 | €150,877 | €153,972 | +€3,095 | +2.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €145,877 | €148,972 | +€3,095 | +2.1% |
| Distributable reserves | 133 | €145,877 | €148,972 | +€3,095 | +2.1% |
| Amounts payable | 17/49 | €79,112 | €103,248 | +€24,136 | +30.5% |
| Amounts payable within one year | 42/48 | €79,112 | €103,248 | +€24,136 | +30.5% |
| Current portion of amounts payable after more than one year | 42 | €6,157 | €6,140 | -€17 | -0.3% |
| Trade debts | 44 | €28,993 | €40,794 | +€11,800 | +40.7% |
| Suppliers | 440/4 | €28,993 | €40,794 | +€11,800 | +40.7% |
| Taxes, remuneration and social security | 45 | €43,962 | €56,314 | +€12,352 | +28.1% |
| Taxes | 450/3 | €25,826 | €40,152 | +€14,326 | +55.5% |
| Remuneration and social security | 454/9 | €18,136 | €16,162 | -€1,974 | -10.9% |
| Remuneration, social security and pensions | 62 | €167,875 | €166,579 | -€1,296 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,224 | €2,637 | +€414 | +18.6% |
| Other operating charges | 640/8 | €9,853 | €10,192 | +€340 | +3.4% |
| Gross operating margin | 9900 | €210,661 | €181,389 | -€29,272 | -13.9% |
| Operating profit (loss) | 9901 | €30,710 | €1,980 | -€28,729 | -93.6% |
| Financial income | 75/76B | €1,276 | €7,097 | +€5,820 | +456.0% |
| Recurring financial income | 75 | €1,276 | €7,097 | +€5,820 | +456.0% |
| Financial charges | 65/66B | €3,564 | €3,506 | -€58 | -1.6% |
| Recurring financial charges | 65 | €3,564 | €3,506 | -€58 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €28,422 | €5,571 | -€22,851 | -80.4% |
| Income taxes | 67/77 | €6,792 | €2,476 | -€4,315 | -63.5% |
| Profit (loss) for the period | 9904 | €21,631 | €3,095 | -€18,536 | -85.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,631 | €3,095 | -€18,536 | -85.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.