PWAP Medical: what changed
PWAP Medical
Largest movements
- Receivables within one year +€247,280
up €247,280 (+640%), from €38,649 to €285,929
of which Trade receivables: +€245,933
- Intangible fixed assets +€29,424
new in 2025: €29,424
- Cash -€18,767
down €18,767 (-97.3%), from €19,296 to €530
mainly Receivables within one year (-€247,280) and Contributions, distributions and other (-€32,709)
- Trade debts +€169,656
up €169,656 (+3,635%), from €4,667 to €174,323
- Profit (loss) carried forward +€47,828
up €47,828, from €0 to €47,828
- Tax, wage and social debts +€22,146
up €22,146 (+360%), from €6,149 to €28,295
- Other debts +€11,016
up €11,016 (+38.0%), from €28,985 to €40,000
- Investment grants +€8,000
new in 2025: €8,000
- Gross operating margin +€96,751
up €96,751 (+490%), from €19,728 to €116,479
- Taxes +€22,146
up €22,146 (+360%), from €6,149 to €28,295
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,945 | €315,882 | +€257,937 | +445% |
| Fixed assets | 21/28 | - | €29,424 | +€29,424 | |
| Intangible fixed assets | 21 | - | €29,424 | +€29,424 | |
| Current assets | 29/58 | €57,945 | €286,458 | +€228,513 | +394% |
| Amounts receivable within one year | 40/41 | €38,649 | €285,929 | +€247,280 | +640% |
| Trade receivables | 40 | €38,649 | €284,582 | +€245,933 | +636% |
| Other amounts receivable | 41 | - | €1,346 | +€1,346 | |
| Cash at bank and in hand | 54/58 | €19,296 | €530 | -€18,767 | -97.3% |
| Total equity and liabilities | 10/49 | €57,945 | €315,882 | +€257,937 | +445% |
| Equity | 10/15 | €18,145 | €73,264 | +€55,119 | +304% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €13,145 | €12,436 | -€709 | -5.4% |
| Non-distributable reserves | 130/1 | €13,145 | €12,436 | -€709 | -5.4% |
| Other | 1319 | €13,145 | €12,436 | -€709 | -5.4% |
| Profit (loss) carried forward | 14 | €0 | €47,828 | +€47,828 | |
| Investment grants | 15 | - | €8,000 | +€8,000 | |
| Amounts payable | 17/49 | €39,801 | €242,618 | +€202,818 | +510% |
| Amounts payable within one year | 42/48 | €39,801 | €242,618 | +€202,818 | +510% |
| Trade debts | 44 | €4,667 | €174,323 | +€169,656 | +3,635% |
| Suppliers | 440/4 | €4,667 | €174,323 | +€169,656 | +3,635% |
| Taxes, remuneration and social security | 45 | €6,149 | €28,295 | +€22,146 | +360% |
| Taxes | 450/3 | €6,149 | €28,295 | +€22,146 | +360% |
| Other amounts payable | 47/48 | €28,985 | €40,000 | +€11,016 | +38.0% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €19,728 | €116,479 | +€96,751 | +490% |
| Operating profit (loss) | 9901 | €19,340 | €116,079 | +€96,739 | +500% |
| Financial income | 75/76B | - | €54 | +€54 | |
| Recurring financial income | 75 | - | €54 | +€54 | |
| Financial charges | 65/66B | €47 | €10 | -€37 | -78.6% |
| Recurring financial charges | 65 | €47 | €10 | -€37 | -78.6% |
| Profit (loss) for the period before taxes | 9903 | €19,294 | €116,123 | +€96,830 | +502% |
| Income taxes | 67/77 | €6,149 | €28,295 | +€22,146 | +360% |
| Profit (loss) for the period | 9904 | €13,145 | €87,828 | +€74,683 | +568% |
| Profit (loss) for the period to be appropriated | 9905 | €13,145 | €87,828 | +€74,683 | +568% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.