RW WHEELS: 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.
RW WHEELS
Largest movements
- Tangible fixed assets -€43,296
down €43,296 (-4.5%), from €964,708 to €921,412
of which Land and buildings: -€33,655
- Receivables within one year -€19,198
down €19,198 (-5.5%), from €347,945 to €328,748
of which Trade receivables: -€10,385
- Debts after one year -€48,566
down €48,566 (-18.1%), from €267,844 to €219,277
of which Financial debts: -€48,566
- Current portion of long-term debt -€39,781
down €39,781 (-29.0%), from €137,209 to €97,428
- Profit (loss) carried forward +€36,759
up €36,759 (+6.2%), from €593,917 to €630,676
- Depreciation +€10,437
up €10,437 (+11.6%), from €89,839 to €100,276
- Gross operating margin -€3,493
down €3,493 (-1.3%), from €275,538 to €272,046
- Taxes -€3,400
down €3,400 (-8.7%), from €38,987 to €35,586
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 | €1,323,145 | €1,271,598 | -€51,546 | -3.9% |
| Fixed assets | 21/28 | €964,708 | €921,412 | -€43,296 | -4.5% |
| Tangible fixed assets | 22/27 | €964,708 | €921,412 | -€43,296 | -4.5% |
| Land and buildings | 22 | €946,333 | €912,679 | -€33,655 | -3.6% |
| Plant, machinery and equipment | 23 | €18,374 | €8,734 | -€9,641 | -52.5% |
| Current assets | 29/58 | €358,437 | €350,186 | -€8,251 | -2.3% |
| Amounts receivable within one year | 40/41 | €347,945 | €328,748 | -€19,198 | -5.5% |
| Trade receivables | 40 | €21,151 | €10,766 | -€10,385 | -49.1% |
| Other amounts receivable | 41 | €326,794 | €317,982 | -€8,812 | -2.7% |
| Cash at bank and in hand | 54/58 | €10,492 | €21,439 | +€10,947 | +104% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,323,145 | €1,271,598 | -€51,546 | -3.9% |
| Equity | 10/15 | €826,650 | €863,409 | +€36,759 | +4.4% |
| Contributions | 10/11 | €173,526 | €173,526 | = | 0.0% |
| Capital | 10 | €173,526 | €173,526 | = | 0.0% |
| Issued capital | 100 | €173,526 | €173,526 | = | 0.0% |
| Reserves | 13 | €59,207 | €59,207 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,781 | €17,781 | = | 0.0% |
| Legal reserve | 130 | €17,353 | €17,353 | = | 0.0% |
| Reserves not available under the articles | 1311 | €429 | €429 | = | 0.0% |
| Distributable reserves | 133 | €41,426 | €41,426 | = | 0.0% |
| Profit (loss) carried forward | 14 | €593,917 | €630,676 | +€36,759 | +6.2% |
| Amounts payable | 17/49 | €496,494 | €408,189 | -€88,305 | -17.8% |
| Amounts payable after more than one year | 17 | €267,844 | €219,277 | -€48,566 | -18.1% |
| Financial debts | 170/4 | €253,144 | €204,577 | -€48,566 | -19.2% |
| Other amounts payable | 178/9 | €14,700 | €14,700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €225,570 | €188,912 | -€36,658 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €137,209 | €97,428 | -€39,781 | -29.0% |
| Trade debts | 44 | €4,375 | €1,911 | -€2,464 | -56.3% |
| Suppliers | 440/4 | €4,375 | €1,911 | -€2,464 | -56.3% |
| Taxes, remuneration and social security | 45 | €8,987 | €14,573 | +€5,586 | +62.2% |
| Taxes | 450/3 | €8,987 | €14,573 | +€5,586 | +62.2% |
| Other amounts payable | 47/48 | €75,000 | €75,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,081 | €0 | -€3,081 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,839 | €100,276 | +€10,437 | +11.6% |
| Other operating charges | 640/8 | €27,792 | €28,668 | +€875 | +3.1% |
| Gross operating margin | 9900 | €275,538 | €272,046 | -€3,493 | -1.3% |
| Operating profit (loss) | 9901 | €157,907 | €143,102 | -€14,805 | -9.4% |
| Financial income | 75/76B | €5,575 | €6,084 | +€509 | +9.1% |
| Recurring financial income | 75 | €5,575 | €6,084 | +€509 | +9.1% |
| Financial charges | 65/66B | €7,535 | €6,841 | -€694 | -9.2% |
| Recurring financial charges | 65 | €7,535 | €6,841 | -€694 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €155,946 | €142,345 | -€13,602 | -8.7% |
| Income taxes | 67/77 | €38,987 | €35,586 | -€3,400 | -8.7% |
| Profit (loss) for the period | 9904 | €116,960 | €106,759 | -€10,201 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €116,960 | €106,759 | -€10,201 | -8.7% |
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 13 October 2026 via checked.be.