W.44: 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.
W.44
Largest movements
- Cash -€2,606
down €2,606 (-77.9%), from €3,344 to €738
mainly Net result for the year (-€3,434) and Investment in fixed assets (net) (-€1,632)
- Tangible fixed assets +€640
up €640 (+9.0%), from €7,093 to €7,732
of which Plant, machinery and equipment: +€1,306
- Stocks and contracts +€177
up €177 (+13.8%), from €1,283 to €1,461
- Profit (loss) carried forward -€3,434
down €3,434 (-25.2%), from -€13,604 to -€17,038
- Other debts +€1,498
up €1,498 (+5.8%), from €25,860 to €27,358
- Purchases and services +€8,261
new in 2025: €8,261
- Turnover +€6,571
new in 2025: €6,571
- Gross operating margin +€5,951
up €5,951 (+78.1%), from -€7,624 to -€1,673
- Depreciation -€2,411
down €2,411 (-70.8%), from €3,404 to €993
- Other operating charges +€506
new in 2025: €506
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 | €14,756 | €12,898 | -€1,858 | -12.6% |
| Formation expenses | 20 | €194 | €194 | = | 0.0% |
| Fixed assets | 21/28 | €7,093 | €7,732 | +€640 | +9.0% |
| Tangible fixed assets | 22/27 | €7,093 | €7,732 | +€640 | +9.0% |
| Plant, machinery and equipment | 23 | €525 | €1,831 | +€1,306 | +249% |
| Furniture and vehicles | 24 | €6,567 | €5,901 | -€666 | -10.1% |
| Current assets | 29/58 | €7,469 | €4,971 | -€2,497 | -33.4% |
| Stocks and contracts in progress | 3 | €1,283 | €1,461 | +€177 | +13.8% |
| Stocks | 30/36 | €1,283 | €1,461 | +€177 | +13.8% |
| Amounts receivable within one year | 40/41 | €2,842 | €2,772 | -€69 | -2.4% |
| Trade receivables | 40 | €906 | €658 | -€248 | -27.4% |
| Other amounts receivable | 41 | €1,936 | €2,114 | +€179 | +9.2% |
| Cash at bank and in hand | 54/58 | €3,344 | €738 | -€2,606 | -77.9% |
| Total equity and liabilities | 10/49 | €14,756 | €12,898 | -€1,858 | -12.6% |
| Equity | 10/15 | -€11,104 | -€14,538 | -€3,434 | -30.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,604 | -€17,038 | -€3,434 | -25.2% |
| Amounts payable | 17/49 | €25,860 | €27,436 | +€1,576 | +6.1% |
| Amounts payable within one year | 42/48 | €25,860 | €27,436 | +€1,576 | +6.1% |
| Trade debts | 44 | - | €77 | +€77 | |
| Suppliers | 440/4 | - | €77 | +€77 | |
| Other amounts payable | 47/48 | €25,860 | €27,358 | +€1,498 | +5.8% |
| Turnover | 70 | - | €6,571 | +€6,571 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €8,261 | +€8,261 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,404 | €993 | -€2,411 | -70.8% |
| Other operating charges | 640/8 | - | €506 | +€506 | |
| Gross operating margin | 9900 | -€7,624 | -€1,673 | +€5,951 | +78.1% |
| Operating profit (loss) | 9901 | -€11,028 | -€3,172 | +€7,856 | +71.2% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €117 | €196 | +€79 | +67.6% |
| Recurring financial charges | 65 | €117 | €196 | +€79 | +67.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,139 | -€3,368 | +€7,771 | +69.8% |
| Income taxes | 67/77 | - | €66 | +€66 | |
| Profit (loss) for the period | 9904 | -€11,139 | -€3,434 | +€7,706 | +69.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,139 | -€3,434 | +€7,706 | +69.2% |
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 16 October 2026 via checked.be.