BELGIAN WIRE SERVICES: 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.
BELGIAN WIRE SERVICES
Largest movements
- Cash -€161,410
down €161,410 (-46.0%), from €350,670 to €189,260
mainly Other debts (-€169,948) and Stocks and contracts (-€40,927)
- Stocks and contracts +€40,927
up €40,927 (+6.8%), from €603,929 to €644,856
- Receivables within one year +€28,724
up €28,724 (+15.9%), from €180,911 to €209,635
of which Trade receivables: +€29,615
- Other debts -€169,948
down €169,948 (-38.2%), from €445,295 to €275,347
- Reserves +€95,356
up €95,356 (+16.2%), from €588,934 to €684,290
of which Distributable reserves: +€95,356
- Trade debts -€16,456
down €16,456 (-55.5%), from €29,668 to €13,212
- Staff costs -€20,970
down €20,970 (-20.2%), from €103,574 to €82,604
- Gross operating margin -€19,763
down €19,763 (-7.6%), from €260,871 to €241,108
- Other operating charges -€4,426
down €4,426 (-56.6%), from €7,823 to €3,397
- Taxes +€2,770
up €2,770 (+9.1%), from €30,332 to €33,103
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 | €1,182,168 | €1,077,441 | -€104,727 | -8.9% |
| Fixed assets | 21/28 | €43,729 | €32,079 | -€11,650 | -26.6% |
| Tangible fixed assets | 22/27 | €43,729 | €32,079 | -€11,650 | -26.6% |
| Furniture and vehicles | 24 | €43,729 | €32,079 | -€11,650 | -26.6% |
| Current assets | 29/58 | €1,138,439 | €1,045,361 | -€93,077 | -8.2% |
| Stocks and contracts in progress | 3 | €603,929 | €644,856 | +€40,927 | +6.8% |
| Stocks | 30/36 | €603,929 | €644,856 | +€40,927 | +6.8% |
| Amounts receivable within one year | 40/41 | €180,911 | €209,635 | +€28,724 | +15.9% |
| Trade receivables | 40 | €170,199 | €199,814 | +€29,615 | +17.4% |
| Other amounts receivable | 41 | €10,712 | €9,821 | -€891 | -8.3% |
| Cash at bank and in hand | 54/58 | €350,670 | €189,260 | -€161,410 | -46.0% |
| Deferred charges and accrued income | 490/1 | €2,928 | €1,610 | -€1,318 | -45.0% |
| Total equity and liabilities | 10/49 | €1,182,168 | €1,077,441 | -€104,727 | -8.9% |
| Equity | 10/15 | €650,934 | €746,290 | +€95,356 | +14.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €588,934 | €684,290 | +€95,356 | +16.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €582,734 | €678,090 | +€95,356 | +16.4% |
| Amounts payable | 17/49 | €531,234 | €331,151 | -€200,083 | -37.7% |
| Amounts payable after more than one year | 17 | €26,949 | €17,151 | -€9,799 | -36.4% |
| Financial debts | 170/4 | €26,949 | €17,151 | -€9,799 | -36.4% |
| Amounts payable within one year | 42/48 | €504,285 | €314,000 | -€190,285 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €9,800 | €9,799 | -€1 | 0.0% |
| Trade debts | 44 | €29,668 | €13,212 | -€16,456 | -55.5% |
| Suppliers | 440/4 | €29,668 | €13,212 | -€16,456 | -55.5% |
| Taxes, remuneration and social security | 45 | €19,522 | €15,643 | -€3,879 | -19.9% |
| Taxes | 450/3 | €5,332 | €2,773 | -€2,559 | -48.0% |
| Remuneration and social security | 454/9 | €14,190 | €12,870 | -€1,320 | -9.3% |
| Other amounts payable | 47/48 | €445,295 | €275,347 | -€169,948 | -38.2% |
| Non-recurring operating income | 76A | - | €127 | +€127 | |
| Remuneration, social security and pensions | 62 | €103,574 | €82,604 | -€20,970 | -20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,493 | €11,650 | +€1,157 | +11.0% |
| Other operating charges | 640/8 | €7,823 | €3,397 | -€4,426 | -56.6% |
| Non-recurring operating charges | 66A | €3,937 | - | -€3,937 | |
| Gross operating margin | 9900 | €260,871 | €241,108 | -€19,763 | -7.6% |
| Operating profit (loss) | 9901 | €135,044 | €143,457 | +€8,413 | +6.2% |
| Financial income | 75/76B | €636 | - | -€636 | |
| Recurring financial income | 75 | €636 | - | -€636 | |
| Financial charges | 65/66B | €17,312 | €14,999 | -€2,313 | -13.4% |
| Recurring financial charges | 65 | €17,312 | €14,999 | -€2,313 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €118,369 | €128,459 | +€10,090 | +8.5% |
| Income taxes | 67/77 | €30,332 | €33,103 | +€2,770 | +9.1% |
| Profit (loss) for the period | 9904 | €88,036 | €95,356 | +€7,319 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €88,036 | €95,356 | +€7,319 | +8.3% |
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 18 October 2026 via checked.be.