RWA: 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.
What changed
RWA
NACE 26.300, Manufacture of computer, electronic and optical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€570,426
2024 · €521,613+€48,813
Equity
€6.4m
2024 · €5.8m+€570,426
Cash
€686,699
2024 · €1.2m-€515,931
Balance sheet total
€6.5m
2024 · €5.9m+€607,141
Largest movements
Assets
- Current investments +€1.2m
up €1.2m (+30.1%), from €3.9m to €5.1m
- Cash -€515,931
down €515,931 (-42.9%), from €1.2m to €686,699
mainly Current investments (-€1.2m) and Receivables within one year (-€54,908)
Equity and liabilities
- Reserves +€570,426
up €570,426 (+11.7%), from €4.9m to €5.4m
of which Distributable reserves: +€696,726
Income statement
- Taxes -€23,332
down €23,332 (-9.4%), from €249,203 to €225,871
- Other operating charges -€10,578
down €10,578 (-35.9%), from €29,491 to €18,914
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.
Result 2024
€521,613
Gross operating margin
+€4,289
Staff costs
+€4,691
Depreciation
+€4,850
Other operating charges
+€10,578
Financial income
+€1,663
Financial charges
-€590
Taxes
+€23,332
Result 2025
€570,426
raises the resultlowers the result
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.
From operations
+€678,875
Investment
-€1.2m
Financing
€0
Cash 2024
€1.2m
From operations (derived)
+€678,875
Net result for the year
+€570,426
Depreciation
+€62,558
Stocks and contracts
+€63,984
Receivables within one year
-€54,908
Deferred charges and accrued income
+€101
Trade debts
+€4,441
Tax, wage and social debts
+€47,322
Other debts
-€15,048
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€4,611
Current investments
-€1.2m
Cash 2025
€686,699
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,932,275 | €6,539,416 | +€607,141 | +10.2% |
| Fixed assets | 21/28 | €457,539 | €399,592 | -€57,947 | -12.7% |
| Tangible fixed assets | 22/27 | €457,164 | €399,217 | -€57,947 | -12.7% |
| Land and buildings | 22 | €442,792 | €389,096 | -€53,697 | -12.1% |
| Plant, machinery and equipment | 23 | €2,617 | €3,542 | +€926 | +35.4% |
| Furniture and vehicles | 24 | €11,755 | €6,579 | -€5,176 | -44.0% |
| Financial fixed assets | 28 | €375 | €375 | = | 0.0% |
| Current assets | 29/58 | €5,474,736 | €6,139,823 | +€665,087 | +12.1% |
| Stocks and contracts in progress | 3 | €253,803 | €189,819 | -€63,984 | -25.2% |
| Stocks | 30/36 | €253,803 | €189,819 | -€63,984 | -25.2% |
| Amounts receivable within one year | 40/41 | €68,884 | €123,791 | +€54,908 | +79.7% |
| Trade receivables | 40 | €68,884 | €123,791 | +€54,908 | +79.7% |
| Current investments | 50/53 | €3,948,647 | €5,138,843 | +€1.2m | +30.1% |
| Cash at bank and in hand | 54/58 | €1,202,630 | €686,699 | -€515,931 | -42.9% |
| Deferred charges and accrued income | 490/1 | €772 | €671 | -€101 | -13.0% |
| Total equity and liabilities | 10/49 | €5,932,275 | €6,539,416 | +€607,141 | +10.2% |
| Equity | 10/15 | €5,801,396 | €6,371,822 | +€570,426 | +9.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,877,959 | €5,448,384 | +€570,426 | +11.7% |
| Tax-exempt reserves | 132 | €252,600 | €126,300 | -€126,300 | -50.0% |
| Distributable reserves | 133 | €4,625,359 | €5,322,084 | +€696,726 | +15.1% |
| Profit (loss) carried forward | 14 | €904,837 | €904,837 | = | 0.0% |
| Amounts payable | 17/49 | €130,879 | €167,594 | +€36,715 | +28.1% |
| Amounts payable within one year | 42/48 | €130,879 | €167,594 | +€36,715 | +28.1% |
| Trade debts | 44 | €2,054 | €6,495 | +€4,441 | +216% |
| Suppliers | 440/4 | €2,054 | €6,495 | +€4,441 | +216% |
| Taxes, remuneration and social security | 45 | €107,361 | €154,683 | +€47,322 | +44.1% |
| Taxes | 450/3 | €106,771 | €154,683 | +€47,912 | +44.9% |
| Remuneration and social security | 454/9 | €590 | - | -€590 | |
| Other amounts payable | 47/48 | €21,464 | €6,415 | -€15,048 | -70.1% |
| Remuneration, social security and pensions | 62 | €22,150 | €17,458 | -€4,691 | -21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,408 | €62,558 | -€4,850 | -7.2% |
| Other operating charges | 640/8 | €29,491 | €18,914 | -€10,578 | -35.9% |
| Gross operating margin | 9900 | €780,404 | €784,693 | +€4,289 | +0.5% |
| Operating profit (loss) | 9901 | €661,355 | €685,763 | +€24,408 | +3.7% |
| Financial income | 75/76B | €111,589 | €113,252 | +€1,663 | +1.5% |
| Recurring financial income | 75 | €111,589 | €113,252 | +€1,663 | +1.5% |
| Financial charges | 65/66B | €2,128 | €2,718 | +€590 | +27.7% |
| Recurring financial charges | 65 | €2,128 | €2,718 | +€590 | +27.7% |
| Profit (loss) for the period before taxes | 9903 | €770,816 | €796,297 | +€25,481 | +3.3% |
| Income taxes | 67/77 | €249,203 | €225,871 | -€23,332 | -9.4% |
| Profit (loss) for the period | 9904 | €521,613 | €570,426 | +€48,813 | +9.4% |
| Transfer from tax-exempt reserves | 789 | €63,150 | €126,300 | +€63,150 | +100% |
| Profit (loss) for the period to be appropriated | 9905 | €584,763 | €696,726 | +€111,963 | +19.1% |
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.