MW Management: 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.
MW Management
Largest movements
- Receivables within one year +€89,439
up €89,439 (+761.2%), from €11,750 to €101,189
of which Trade receivables: +€83,127
- Tangible fixed assets +€74,655
up €74,655 (+1828.0%), from €4,084 to €78,739
of which Furniture and vehicles: +€54,367
- Deferred charges and accrued income +€2,367
up €2,367 (+889.8%), from €266 to €2,633
- Reserves +€82,810
up €82,810 (+1011.0%), from €8,191 to €91,001
- Tax, wage and social debts +€40,978
up €40,978 (+449.0%), from €9,127 to €50,105
- Debts after one year +€26,602
new in 2025: €26,602
- Current portion of long-term debt +€17,095
new in 2025: €17,095
- Other debts -€2,329
no longer reported in 2025 (was €2,329)
- Gross operating margin +€122,493
up €122,493 (+1025.8%), from €11,941 to €134,434
- Taxes +€26,436
up €26,436 (+1037.1%), from €2,549 to €28,985
- Depreciation +€13,092
up €13,092 (+5924.0%), from €221 to €13,313
- Financial charges +€4,575
up €4,575 (+596.5%), from €767 to €5,342
- Other operating charges +€3,073
up €3,073 (+1442.7%), from €213 to €3,286
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 | €24,008 | €188,822 | +€164,814 | +686.5% |
| Fixed assets | 21/28 | €4,084 | €78,739 | +€74,655 | +1828.0% |
| Tangible fixed assets | 22/27 | €4,084 | €78,739 | +€74,655 | +1828.0% |
| Plant, machinery and equipment | 23 | €4,084 | €3,008 | -€1,076 | -26.3% |
| Furniture and vehicles | 24 | - | €54,367 | +€54,367 | |
| Other tangible fixed assets | 26 | - | €21,364 | +€21,364 | |
| Current assets | 29/58 | €19,924 | €110,083 | +€90,159 | +452.5% |
| Amounts receivable within one year | 40/41 | €11,750 | €101,189 | +€89,439 | +761.2% |
| Trade receivables | 40 | €11,750 | €94,877 | +€83,127 | +707.5% |
| Other amounts receivable | 41 | - | €6,312 | +€6,312 | |
| Cash at bank and in hand | 54/58 | €7,908 | €6,261 | -€1,647 | -20.8% |
| Deferred charges and accrued income | 490/1 | €266 | €2,633 | +€2,367 | +889.8% |
| Total equity and liabilities | 10/49 | €24,008 | €188,822 | +€164,814 | +686.5% |
| Equity | 10/15 | €11,191 | €94,001 | +€82,810 | +740.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €8,191 | €91,001 | +€82,810 | +1011.0% |
| Distributable reserves | 133 | €8,191 | €91,001 | +€82,810 | +1011.0% |
| Amounts payable | 17/49 | €12,817 | €94,821 | +€82,004 | +639.8% |
| Amounts payable after more than one year | 17 | - | €26,602 | +€26,602 | |
| Financial debts | 170/4 | - | €26,602 | +€26,602 | |
| Amounts payable within one year | 42/48 | €12,817 | €68,178 | +€55,361 | +431.9% |
| Current portion of amounts payable after more than one year | 42 | - | €17,095 | +€17,095 | |
| Trade debts | 44 | €1,361 | €978 | -€383 | -28.1% |
| Suppliers | 440/4 | €1,361 | €978 | -€383 | -28.1% |
| Taxes, remuneration and social security | 45 | €9,127 | €50,105 | +€40,978 | +449.0% |
| Taxes | 450/3 | €9,127 | €50,105 | +€40,978 | +449.0% |
| Other amounts payable | 47/48 | €2,329 | - | -€2,329 | |
| Accrued charges and deferred income | 492/3 | - | €41 | +€41 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221 | €13,313 | +€13,092 | +5924.0% |
| Other operating charges | 640/8 | €213 | €3,286 | +€3,073 | +1442.7% |
| Gross operating margin | 9900 | €11,941 | €134,434 | +€122,493 | +1025.8% |
| Operating profit (loss) | 9901 | €11,507 | €117,835 | +€106,328 | +924.0% |
| Financial income | 75/76B | - | €161 | +€161 | |
| Recurring financial income | 75 | - | €161 | +€161 | |
| Financial charges | 65/66B | €767 | €5,342 | +€4,575 | +596.5% |
| Recurring financial charges | 65 | €767 | €5,342 | +€4,575 | +596.5% |
| Profit (loss) for the period before taxes | 9903 | €10,740 | €112,654 | +€101,914 | +948.9% |
| Income taxes | 67/77 | €2,549 | €28,985 | +€26,436 | +1037.1% |
| Profit (loss) for the period | 9904 | €8,191 | €83,669 | +€75,478 | +921.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,191 | €83,669 | +€75,478 | +921.5% |
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 4 October 2026 via checked.be.