HwaS: what changed
HwaS
Largest movements
- Cash +€98,090
up €98,090 (+380%), from €25,792 to €123,882
mainly Net result for the year (+€202,630) and Other debts (+€78,788)
- Receivables within one year +€16,015
up €16,015 (+43.1%), from €37,159 to €53,174
of which Trade receivables: +€17,490
- Profit (loss) carried forward +€191,918
up €191,918, from -€191,918 to €0
- Trade debts -€177,004
down €177,004 (-99.6%), from €177,668 to €664
- Other debts +€78,788
up €78,788 (+113%), from €69,887 to €148,676
- Reserves +€10,712
new in 2025: €10,712
- Tax, wage and social debts +€10,206
up €10,206 (+237%), from €4,314 to €14,519
of which Taxes: +€8,044
- Staff costs -€352,730
down €352,730 (-67.7%), from €520,949 to €168,220
- Gross operating margin +€44,723
up €44,723 (+13.4%), from €334,497 to €379,220
- Taxes +€6,026
new in 2025: €6,026
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,951 | €177,571 | +€114,620 | +182% |
| Fixed assets | 21/28 | - | €100 | +€100 | |
| Financial fixed assets | 28 | - | €100 | +€100 | |
| Current assets | 29/58 | €62,951 | €177,471 | +€114,520 | +182% |
| Amounts receivable within one year | 40/41 | €37,159 | €53,174 | +€16,015 | +43.1% |
| Trade receivables | 40 | €34,801 | €52,291 | +€17,490 | +50.3% |
| Other amounts receivable | 41 | €2,358 | €883 | -€1,475 | -62.6% |
| Cash at bank and in hand | 54/58 | €25,792 | €123,882 | +€98,090 | +380% |
| Deferred charges and accrued income | 490/1 | - | €416 | +€416 | |
| Total equity and liabilities | 10/49 | €62,951 | €177,571 | +€114,620 | +182% |
| Equity | 10/15 | -€188,918 | €13,712 | +€202,630 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €10,712 | +€10,712 | |
| Distributable reserves | 133 | - | €10,712 | +€10,712 | |
| Profit (loss) carried forward | 14 | -€191,918 | €0 | +€191,918 | |
| Amounts payable | 17/49 | €251,869 | €163,859 | -€88,010 | -34.9% |
| Amounts payable within one year | 42/48 | €251,869 | €163,859 | -€88,010 | -34.9% |
| Trade debts | 44 | €177,668 | €664 | -€177,004 | -99.6% |
| Suppliers | 440/4 | €177,668 | €664 | -€177,004 | -99.6% |
| Taxes, remuneration and social security | 45 | €4,314 | €14,519 | +€10,206 | +237% |
| Taxes | 450/3 | - | €8,044 | +€8,044 | |
| Remuneration and social security | 454/9 | €4,314 | €6,475 | +€2,162 | +50.1% |
| Other amounts payable | 47/48 | €69,887 | €148,676 | +€78,788 | +113% |
| Remuneration, social security and pensions | 62 | €520,949 | €168,220 | -€352,730 | -67.7% |
| Other operating charges | 640/8 | €118 | €1,422 | +€1,304 | +1,105% |
| Gross operating margin | 9900 | €334,497 | €379,220 | +€44,723 | +13.4% |
| Operating profit (loss) | 9901 | -€186,570 | €209,578 | +€396,148 | |
| Financial charges | 65/66B | €100 | €921 | +€821 | +822% |
| Recurring financial charges | 65 | €100 | €921 | +€821 | +822% |
| Profit (loss) for the period before taxes | 9903 | -€186,670 | €208,656 | +€395,326 | |
| Income taxes | 67/77 | - | €6,026 | +€6,026 | |
| Profit (loss) for the period | 9904 | -€186,670 | €202,630 | +€389,300 | |
| Profit (loss) for the period to be appropriated | 9905 | -€186,670 | €202,630 | +€389,300 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.