PWAG: 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.
PWAG
Largest movements
- Receivables within one year -€73,107
down €73,107 (-50.9%), from €143,753 to €70,646
of which Other amounts receivable: -€73,107
- Tax, wage and social debts -€49,162
down €49,162 (-42.3%), from €116,182 to €67,020
- Other debts -€26,500
down €26,500 (-100%), from €26,500 to €0
- Gross operating margin -€248,468
down €248,468, from €248,270 to -€197
- Taxes -€60,162
down €60,162 (-98.3%), from €61,182 to €1,020
- Financial income +€5,574
new in 2025: €5,574
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 | €1,053,910 | €981,037 | -€72,872 | -6.9% |
| Fixed assets | 21/28 | €909,843 | €909,843 | = | 0.0% |
| Tangible fixed assets | 22/27 | €909,843 | €909,843 | = | 0.0% |
| Other tangible fixed assets | 26 | €909,843 | €909,843 | = | 0.0% |
| Current assets | 29/58 | €144,067 | €71,194 | -€72,872 | -50.6% |
| Amounts receivable within one year | 40/41 | €143,753 | €70,646 | -€73,107 | -50.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €143,753 | €70,646 | -€73,107 | -50.9% |
| Cash at bank and in hand | 54/58 | €314 | €548 | +€235 | +74.9% |
| Total equity and liabilities | 10/49 | €1,053,910 | €981,037 | -€72,872 | -6.9% |
| Equity | 10/15 | €892,956 | €895,745 | +€2,789 | +0.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €882,956 | €885,745 | +€2,789 | +0.3% |
| Amounts payable | 17/49 | €160,954 | €85,292 | -€75,662 | -47.0% |
| Amounts payable within one year | 42/48 | €160,954 | €85,292 | -€75,662 | -47.0% |
| Trade debts | 44 | €18,272 | €18,272 | = | 0.0% |
| Suppliers | 440/4 | €18,272 | €18,272 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €116,182 | €67,020 | -€49,162 | -42.3% |
| Taxes | 450/3 | €116,182 | €67,020 | -€49,162 | -42.3% |
| Other amounts payable | 47/48 | €26,500 | €0 | -€26,500 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €197 | +€197 | |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | €248,270 | -€197 | -€248,468 | |
| Operating profit (loss) | 9901 | €247,241 | -€1,258 | -€248,499 | |
| Financial income | 75/76B | - | €5,574 | +€5,574 | |
| Recurring financial income | 75 | - | €5,574 | +€5,574 | |
| Financial charges | 65/66B | €598 | €507 | -€91 | -15.2% |
| Recurring financial charges | 65 | €598 | €507 | -€91 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €246,643 | €3,809 | -€242,834 | -98.5% |
| Income taxes | 67/77 | €61,182 | €1,020 | -€60,162 | -98.3% |
| Profit (loss) for the period | 9904 | €185,461 | €2,789 | -€182,672 | -98.5% |
| Profit (loss) for the period to be appropriated | 9905 | €185,461 | €2,789 | -€182,672 | -98.5% |
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 27 October 2026 via checked.be.