PWS Construct: 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.
PWS Construct
Largest movements
- Current investments -€7,337
down €7,337 (-26.3%), from €27,876 to €20,539
- Tangible fixed assets -€7,256
down €7,256 (-23.7%), from €30,597 to €23,341
of which Furniture and vehicles: -€10,174
- Receivables within one year +€5,918
up €5,918 (+32.2%), from €18,364 to €24,282
- Financial fixed assets +€3,600
new in 2025: €3,600
- Trade debts -€30,491
down €30,491 (-69.0%), from €44,212 to €13,721
- Profit (loss) carried forward +€23,585
up €23,585 (+133.6%), from €17,648 to €41,232
- Tax, wage and social debts +€1,214
up €1,214 (+12.2%), from €9,978 to €11,192
- Gross operating margin +€10,665
up €10,665 (+32.2%), from €33,089 to €43,753
- Depreciation +€2,558
up €2,558 (+25.0%), from €10,241 to €12,799
- Taxes +€1,932
up €1,932 (+39.1%), from €4,941 to €6,873
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €76,837 | €71,762 | -€5,075 | -6.6% |
| Fixed assets | 21/28 | €30,597 | €26,941 | -€3,656 | -11.9% |
| Tangible fixed assets | 22/27 | €30,597 | €23,341 | -€7,256 | -23.7% |
| Plant, machinery and equipment | 23 | €8,196 | €11,114 | +€2,918 | +35.6% |
| Furniture and vehicles | 24 | €22,401 | €12,227 | -€10,174 | -45.4% |
| Financial fixed assets | 28 | - | €3,600 | +€3,600 | |
| Current assets | 29/58 | €46,240 | €44,821 | -€1,420 | -3.1% |
| Amounts receivable within one year | 40/41 | €18,364 | €24,282 | +€5,918 | +32.2% |
| Trade receivables | 40 | €18,364 | €24,282 | +€5,918 | +32.2% |
| Current investments | 50/53 | €27,876 | €20,539 | -€7,337 | -26.3% |
| Total equity and liabilities | 10/49 | €76,837 | €71,762 | -€5,075 | -6.6% |
| Equity | 10/15 | €22,648 | €46,232 | +€23,585 | +104.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,648 | €41,232 | +€23,585 | +133.6% |
| Amounts payable | 17/49 | €54,189 | €25,529 | -€28,660 | -52.9% |
| Amounts payable within one year | 42/48 | €54,189 | €25,529 | -€28,660 | -52.9% |
| Trade debts | 44 | €44,212 | €13,721 | -€30,491 | -69.0% |
| Suppliers | 440/4 | €44,212 | €13,721 | -€30,491 | -69.0% |
| Taxes, remuneration and social security | 45 | €9,978 | €11,192 | +€1,214 | +12.2% |
| Taxes | 450/3 | €9,978 | €11,192 | +€1,214 | +12.2% |
| Other amounts payable | 47/48 | - | €616 | +€616 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,241 | €12,799 | +€2,558 | +25.0% |
| Other operating charges | 640/8 | €233 | €369 | +€136 | +58.2% |
| Gross operating margin | 9900 | €33,089 | €43,753 | +€10,665 | +32.2% |
| Operating profit (loss) | 9901 | €22,614 | €30,586 | +€7,971 | +35.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €26 | €128 | +€102 | +387.2% |
| Recurring financial charges | 65 | €26 | €128 | +€102 | +387.2% |
| Profit (loss) for the period before taxes | 9903 | €22,588 | €30,458 | +€7,870 | +34.8% |
| Income taxes | 67/77 | €4,941 | €6,873 | +€1,932 | +39.1% |
| Profit (loss) for the period | 9904 | €17,648 | €23,585 | +€5,937 | +33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,648 | €23,585 | +€5,937 | +33.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.