PW-Projects: 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.
PW-Projects
Largest movements
- Receivables within one year +€15,146
up €15,146 (+66.8%), from €22,687 to €37,833
of which Other amounts receivable: +€12,595
- Tangible fixed assets -€3,807
down €3,807 (-16.3%), from €23,320 to €19,514
of which Furniture and vehicles: -€8,021
- Reserves +€9,425
new in 2025: €9,425
- Other debts -€5,155
down €5,155 (-20.5%), from €25,130 to €19,975
- Trade debts +€4,420
up €4,420 (+26.1%), from €16,968 to €21,388
- Tax, wage and social debts +€1,707
up €1,707 (+58.8%), from €2,904 to €4,611
of which Taxes: +€3,445
- Profit (loss) carried forward +€1,111
no longer reported in 2025 (was -€1,111)
- Gross operating margin +€31,836
up €31,836 (+1482.0%), from €2,148 to €33,984
- Staff costs +€14,090
new in 2025: €14,090
- Taxes +€3,017
new in 2025: €3,017
- Other operating charges +€1,395
up €1,395 (+348.6%), from €400 to €1,796
- Depreciation +€1,094
up €1,094 (+40.3%), from €2,713 to €3,807
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 | €46,390 | €57,899 | +€11,509 | +24.8% |
| Fixed assets | 21/28 | €23,320 | €19,514 | -€3,807 | -16.3% |
| Tangible fixed assets | 22/27 | €23,320 | €19,514 | -€3,807 | -16.3% |
| Plant, machinery and equipment | 23 | €15,299 | €19,514 | +€4,215 | +27.5% |
| Furniture and vehicles | 24 | €8,021 | - | -€8,021 | |
| Current assets | 29/58 | €23,070 | €38,385 | +€15,315 | +66.4% |
| Amounts receivable within one year | 40/41 | €22,687 | €37,833 | +€15,146 | +66.8% |
| Trade receivables | 40 | €18,641 | €21,192 | +€2,551 | +13.7% |
| Other amounts receivable | 41 | €4,047 | €16,642 | +€12,595 | +311.3% |
| Cash at bank and in hand | 54/58 | €135 | €124 | -€11 | -8.3% |
| Deferred charges and accrued income | 490/1 | €248 | €428 | +€180 | +72.8% |
| Total equity and liabilities | 10/49 | €46,390 | €57,899 | +€11,509 | +24.8% |
| Equity | 10/15 | €1,389 | €11,925 | +€10,536 | +758.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €9,425 | +€9,425 | |
| Distributable reserves | 133 | - | €9,425 | +€9,425 | |
| Profit (loss) carried forward | 14 | -€1,111 | - | +€1,111 | |
| Amounts payable | 17/49 | €45,001 | €45,974 | +€973 | +2.2% |
| Amounts payable within one year | 42/48 | €45,001 | €45,974 | +€973 | +2.2% |
| Trade debts | 44 | €16,968 | €21,388 | +€4,420 | +26.1% |
| Suppliers | 440/4 | €16,968 | €21,388 | +€4,420 | +26.1% |
| Taxes, remuneration and social security | 45 | €2,904 | €4,611 | +€1,707 | +58.8% |
| Taxes | 450/3 | - | €3,445 | +€3,445 | |
| Remuneration and social security | 454/9 | €2,904 | €1,166 | -€1,738 | -59.8% |
| Other amounts payable | 47/48 | €25,130 | €19,975 | -€5,155 | -20.5% |
| Remuneration, social security and pensions | 62 | - | €14,090 | +€14,090 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,713 | €3,807 | +€1,094 | +40.3% |
| Other operating charges | 640/8 | €400 | €1,796 | +€1,395 | +348.6% |
| Gross operating margin | 9900 | €2,148 | €33,984 | +€31,836 | +1482.0% |
| Operating profit (loss) | 9901 | -€965 | €14,292 | +€15,256 | |
| Financial income | 75/76B | - | €428 | +€428 | |
| Recurring financial income | 75 | - | €428 | +€428 | |
| Financial charges | 65/66B | €147 | €316 | +€170 | +115.4% |
| Recurring financial charges | 65 | €147 | €316 | +€170 | +115.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,111 | €14,403 | +€15,514 | |
| Income taxes | 67/77 | - | €3,017 | +€3,017 | |
| Profit (loss) for the period | 9904 | -€1,111 | €11,386 | +€12,497 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,111 | €11,386 | +€12,497 |
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 29 September 2026 via checked.be.