RWAKO: 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.
RWAKO
Largest movements
- Cash +€52,779
up €52,779 (+349.1%), from €15,119 to €67,898
mainly Net result for the year (+€48,920) and Other debts (+€35,651)
- Receivables within one year -€14,727
down €14,727 (-8.7%), from €168,431 to €153,704
of which Trade receivables: -€77,801
- Other debts +€35,651
up €35,651 (+88.8%), from €40,156 to €75,807
- Trade debts +€34,530
up €34,530 (+160.0%), from €21,583 to €56,114
- Debts after one year -€23,497
down €23,497 (-18.3%), from €128,146 to €104,649
- Reserves -€14,000
down €14,000 (-8.9%), from €156,860 to €142,860
of which Distributable reserves: -€14,000
- Gross operating margin -€39,366
down €39,366 (-25.6%), from €153,999 to €114,633
- Taxes -€10,595
down €10,595 (-29.7%), from €35,704 to €25,108
- Financial charges -€1,975
down €1,975 (-20.6%), from €9,577 to €7,602
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
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 | €476,489 | €509,599 | +€33,110 | +6.9% |
| Fixed assets | 21/28 | €287,587 | €284,335 | -€3,252 | -1.1% |
| Tangible fixed assets | 22/27 | €287,435 | €284,183 | -€3,252 | -1.1% |
| Land and buildings | 22 | €259,490 | €265,255 | +€5,765 | +2.2% |
| Furniture and vehicles | 24 | €27,945 | €14,330 | -€13,615 | -48.7% |
| Other tangible fixed assets | 26 | - | €4,598 | +€4,598 | |
| Financial fixed assets | 28 | €152 | €152 | = | 0.0% |
| Current assets | 29/58 | €188,902 | €225,264 | +€36,362 | +19.2% |
| Amounts receivable within one year | 40/41 | €168,431 | €153,704 | -€14,727 | -8.7% |
| Trade receivables | 40 | €167,679 | €89,878 | -€77,801 | -46.4% |
| Other amounts receivable | 41 | €752 | €63,826 | +€63,074 | +8387.5% |
| Current investments | 50/53 | €2,000 | €2,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,119 | €67,898 | +€52,779 | +349.1% |
| Deferred charges and accrued income | 490/1 | €3,353 | €1,662 | -€1,691 | -50.4% |
| Total equity and liabilities | 10/49 | €476,489 | €509,599 | +€33,110 | +6.9% |
| Equity | 10/15 | €190,451 | €177,371 | -€13,080 | -6.9% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €156,860 | €142,860 | -€14,000 | -8.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €155,000 | €141,000 | -€14,000 | -9.0% |
| Profit (loss) carried forward | 14 | €27,291 | €28,211 | +€920 | +3.4% |
| Amounts payable | 17/49 | €286,038 | €332,228 | +€46,190 | +16.1% |
| Amounts payable after more than one year | 17 | €128,146 | €104,649 | -€23,497 | -18.3% |
| Financial debts | 170/4 | €128,146 | €104,649 | -€23,497 | -18.3% |
| Amounts payable within one year | 42/48 | €157,631 | €227,579 | +€69,948 | +44.4% |
| Current portion of amounts payable after more than one year | 42 | €46,029 | €42,391 | -€3,638 | -7.9% |
| Trade debts | 44 | €21,583 | €56,114 | +€34,530 | +160.0% |
| Suppliers | 440/4 | €21,583 | €56,114 | +€34,530 | +160.0% |
| Taxes, remuneration and social security | 45 | €49,862 | €53,267 | +€3,405 | +6.8% |
| Taxes | 450/3 | €43,581 | €46,931 | +€3,350 | +7.7% |
| Remuneration and social security | 454/9 | €6,281 | €6,336 | +€55 | +0.9% |
| Other amounts payable | 47/48 | €40,156 | €75,807 | +€35,651 | +88.8% |
| Accrued charges and deferred income | 492/3 | €261 | - | -€261 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,848 | €27,917 | +€1,069 | +4.0% |
| Other operating charges | 640/8 | €3,598 | €5,087 | +€1,489 | +41.4% |
| Gross operating margin | 9900 | €153,999 | €114,633 | -€39,366 | -25.6% |
| Operating profit (loss) | 9901 | €123,554 | €81,630 | -€41,924 | -33.9% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €9,577 | €7,602 | -€1,975 | -20.6% |
| Recurring financial charges | 65 | €9,577 | €7,602 | -€1,975 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €113,979 | €74,028 | -€39,951 | -35.1% |
| Income taxes | 67/77 | €35,704 | €25,108 | -€10,595 | -29.7% |
| Profit (loss) for the period | 9904 | €78,276 | €48,920 | -€29,356 | -37.5% |
| Profit (loss) for the period to be appropriated | 9905 | €78,276 | €48,920 | -€29,356 | -37.5% |
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 3 October 2026 via checked.be.