Bert Wijns: 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.
Bert Wijns
Largest movements
- Cash -€36,373
down €36,373 (-53.0%), from €68,586 to €32,213
mainly Trade debts (-€39,691) and Short-term financial debts (-€38,000)
- Receivables within one year -€8,124
down €8,124 (-31.4%), from €25,873 to €17,749
of which Other amounts receivable: -€19,014
- Trade debts -€39,691
down €39,691 (-92.2%), from €43,032 to €3,341
- Short-term financial debts -€38,000
no longer reported in 2025 (was €38,000)
- Debts after one year +€19,564
up €19,564 (+10.7%), from €182,907 to €202,471
- Reserves +€12,368
up €12,368 (+28.1%), from €44,053 to €56,420
- Gross operating margin +€24,481
up €24,481 (+173%), from €14,176 to €38,657
- Financial charges +€7,963
up €7,963 (+209%), from €3,810 to €11,773
- Depreciation +€4,553
up €4,553 (+47.2%), from €9,656 to €14,209
- Other operating charges -€1,019
down €1,019 (-50.5%), from €2,019 to €1,000
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 | €358,114 | €311,451 | -€46,663 | -13.0% |
| Fixed assets | 21/28 | €252,481 | €251,533 | -€948 | -0.4% |
| Tangible fixed assets | 22/27 | €249,981 | €251,533 | +€1,552 | +0.6% |
| Land and buildings | 22 | €236,058 | €240,682 | +€4,624 | +2.0% |
| Plant, machinery and equipment | 23 | €3,142 | €2,853 | -€290 | -9.2% |
| Furniture and vehicles | 24 | €10,781 | €7,999 | -€2,782 | -25.8% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €2,500 | €0 | -€2,500 | -100% |
| Current assets | 29/58 | €105,632 | €59,917 | -€45,715 | -43.3% |
| Stocks and contracts in progress | 3 | €11,174 | €9,956 | -€1,218 | -10.9% |
| Stocks | 30/36 | €11,174 | €9,956 | -€1,218 | -10.9% |
| Amounts receivable within one year | 40/41 | €25,873 | €17,749 | -€8,124 | -31.4% |
| Trade receivables | 40 | €428 | €11,318 | +€10,890 | +2,543% |
| Other amounts receivable | 41 | €25,445 | €6,430 | -€19,014 | -74.7% |
| Cash at bank and in hand | 54/58 | €68,586 | €32,213 | -€36,373 | -53.0% |
| Total equity and liabilities | 10/49 | €358,114 | €311,451 | -€46,663 | -13.0% |
| Equity | 10/15 | €49,153 | €61,520 | +€12,368 | +25.2% |
| Contributions | 10/11 | €5,100 | €5,100 | = | 0.0% |
| Reserves | 13 | €44,053 | €56,420 | +€12,368 | +28.1% |
| Distributable reserves | 133 | €44,053 | €56,420 | +€12,368 | +28.1% |
| Amounts payable | 17/49 | €308,961 | €249,930 | -€59,031 | -19.1% |
| Amounts payable after more than one year | 17 | €182,907 | €202,471 | +€19,564 | +10.7% |
| Financial debts | 170/4 | €182,907 | €202,471 | +€19,564 | +10.7% |
| Amounts payable within one year | 42/48 | €126,054 | €46,959 | -€79,095 | -62.7% |
| Current portion of amounts payable after more than one year | 42 | €7,648 | €7,718 | +€70 | +0.9% |
| Financial debts | 43 | €38,000 | - | -€38,000 | |
| Credit institutions | 430/8 | €38,000 | - | -€38,000 | |
| Trade debts | 44 | €43,032 | €3,341 | -€39,691 | -92.2% |
| Suppliers | 440/4 | €43,032 | €3,341 | -€39,691 | -92.2% |
| Other amounts payable | 47/48 | €37,375 | €35,901 | -€1,474 | -3.9% |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,656 | €14,209 | +€4,553 | +47.2% |
| Other operating charges | 640/8 | €2,019 | €1,000 | -€1,019 | -50.5% |
| Gross operating margin | 9900 | €14,176 | €38,657 | +€24,481 | +173% |
| Operating profit (loss) | 9901 | €2,502 | €23,448 | +€20,947 | +837% |
| Financial income | 75/76B | €546 | €693 | +€147 | +27.0% |
| Recurring financial income | 75 | €546 | €693 | +€147 | +27.0% |
| Financial charges | 65/66B | €3,810 | €11,773 | +€7,963 | +209% |
| Recurring financial charges | 65 | €3,810 | €11,773 | +€7,963 | +209% |
| Profit (loss) for the period before taxes | 9903 | -€763 | €12,368 | +€13,131 | |
| Profit (loss) for the period | 9904 | -€763 | €12,368 | +€13,131 | |
| Profit (loss) for the period to be appropriated | 9905 | -€763 | €12,368 | +€13,131 |
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 17 October 2026 via checked.be.