PW 7890: 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.
PW 7890
Largest movements
- Stocks and contracts -€258,791
down €258,791 (-96.4%), from €268,437 to €9,646
- Receivables within one year +€48,373
up €48,373 (+166%), from €29,067 to €77,441
of which Trade receivables: +€34,881
- Cash +€6,729
up €6,729, from €0 to €6,729
mainly Stocks and contracts (+€258,791) and Net result for the year (+€14,777)
- Tangible fixed assets -€4,515
down €4,515 (-83.5%), from €5,405 to €890
of which Leasing and similar rights: -€4,069
- Short-term financial debts -€111,993
down €111,993 (-100%), from €111,993 to €0
of which Other loans: -€100,000
- Other debts -€87,715
down €87,715 (-70.3%), from €124,785 to €37,070
- Profit (loss) carried forward +€14,777
up €14,777 (+2,319%), from €637 to €15,415
- Tax, wage and social debts -€14,561
down €14,561 (-92.6%), from €15,717 to €1,157
- Debts after one year -€3,375
down €3,375 (-100%), from €3,375 to €0
- Gross operating margin +€54,518
up €54,518, from -€22,688 to €31,830
- Financial charges +€3,923
up €3,923 (+54.8%), from €7,158 to €11,081
- Other operating charges -€622
down €622 (-30.0%), from €2,072 to €1,449
- Depreciation -€430
down €430 (-8.7%), from €4,946 to €4,515
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.
Derived cash bridge
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 | €305,494 | €98,313 | -€207,182 | -67.8% |
| Fixed assets | 21/28 | €5,405 | €890 | -€4,515 | -83.5% |
| Tangible fixed assets | 22/27 | €5,405 | €890 | -€4,515 | -83.5% |
| Furniture and vehicles | 24 | €1,336 | €890 | -€446 | -33.4% |
| Leasing and similar rights | 25 | €4,069 | €0 | -€4,069 | -100% |
| Current assets | 29/58 | €300,089 | €97,423 | -€202,666 | -67.5% |
| Stocks and contracts in progress | 3 | €268,437 | €9,646 | -€258,791 | -96.4% |
| Stocks | 30/36 | €268,437 | €9,646 | -€258,791 | -96.4% |
| Amounts receivable within one year | 40/41 | €29,067 | €77,441 | +€48,373 | +166% |
| Trade receivables | 40 | €28,977 | €63,858 | +€34,881 | +120% |
| Other amounts receivable | 41 | €90 | €13,582 | +€13,492 | +14,995% |
| Cash at bank and in hand | 54/58 | €0 | €6,729 | +€6,729 | |
| Deferred charges and accrued income | 490/1 | €2,585 | €3,607 | +€1,022 | +39.5% |
| Total equity and liabilities | 10/49 | €305,494 | €98,313 | -€207,182 | -67.8% |
| Equity | 10/15 | €20,637 | €35,415 | +€14,777 | +71.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €637 | €15,415 | +€14,777 | +2,319% |
| Amounts payable | 17/49 | €284,857 | €62,898 | -€221,959 | -77.9% |
| Amounts payable after more than one year | 17 | €3,375 | €0 | -€3,375 | -100% |
| Financial debts | 170/4 | €3,375 | €0 | -€3,375 | -100% |
| Amounts payable within one year | 42/48 | €281,135 | €62,898 | -€218,237 | -77.6% |
| Current portion of amounts payable after more than one year | 42 | €2,733 | €0 | -€2,733 | -100% |
| Financial debts | 43 | €111,993 | €0 | -€111,993 | -100% |
| Credit institutions | 430/8 | €11,993 | €0 | -€11,993 | -100% |
| Other loans | 439 | €100,000 | €0 | -€100,000 | -100% |
| Trade debts | 44 | €25,907 | €24,672 | -€1,235 | -4.8% |
| Suppliers | 440/4 | €25,907 | €24,672 | -€1,235 | -4.8% |
| Taxes, remuneration and social security | 45 | €15,717 | €1,157 | -€14,561 | -92.6% |
| Taxes | 450/3 | €15,717 | €1,157 | -€14,561 | -92.6% |
| Other amounts payable | 47/48 | €124,785 | €37,070 | -€87,715 | -70.3% |
| Accrued charges and deferred income | 492/3 | €348 | €0 | -€348 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,946 | €4,515 | -€430 | -8.7% |
| Other operating charges | 640/8 | €2,072 | €1,449 | -€622 | -30.0% |
| Gross operating margin | 9900 | -€22,688 | €31,830 | +€54,518 | |
| Operating profit (loss) | 9901 | -€29,705 | €25,865 | +€55,571 | |
| Financial income | 75/76B | €8 | €138 | +€130 | +1,615% |
| Recurring financial income | 75 | €8 | €138 | +€130 | +1,615% |
| Financial charges | 65/66B | €7,158 | €11,081 | +€3,923 | +54.8% |
| Recurring financial charges | 65 | €7,158 | €11,081 | +€3,923 | +54.8% |
| Profit (loss) for the period before taxes | 9903 | -€36,855 | €14,922 | +€51,777 | |
| Income taxes | 67/77 | €0 | €144 | +€144 | |
| Profit (loss) for the period | 9904 | -€36,855 | €14,777 | +€51,633 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,855 | €14,777 | +€51,633 |
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 26 October 2026 via checked.be.