Damien WUIDAR: 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.
Damien WUIDAR
Largest movements
- Receivables within one year -€63,708
down €63,708 (-62.2%), from €102,380 to €38,671
of which Trade receivables: -€66,797
- Cash +€57,354
up €57,354 (+616%), from €9,306 to €66,660
mainly Receivables within one year (+€63,708) and Debts after one year (+€40,387)
- Tangible fixed assets +€40,695
up €40,695 (+128%), from €31,701 to €72,397
of which Leasing and similar rights: +€49,975
- Debts after one year +€40,387
new in 2025: €40,387
- Tax, wage and social debts -€16,659
down €16,659 (-51.2%), from €32,519 to €15,860
- Current portion of long-term debt +€6,151
up €6,151 (+191%), from €3,212 to €9,363
- Trade debts +€3,817
up €3,817 (+66.6%), from €5,730 to €9,547
- Reserves +€3,674
up €3,674 (+3.8%), from €95,592 to €99,266
of which Distributable reserves: +€3,674
- Gross operating margin -€36,369
down €36,369 (-62.4%), from €58,278 to €21,909
- Taxes -€15,289
down €15,289 (-95.7%), from €15,983 to €694
- Financial charges +€3,005
up €3,005 (+634%), from €474 to €3,479
- Other operating charges +€1,145
up €1,145 (+164%), from €698 to €1,843
- Depreciation +€1,024
up €1,024 (+9.1%), from €11,196 to €12,220
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 | €158,240 | €194,105 | +€35,865 | +22.7% |
| Fixed assets | 21/28 | €31,701 | €72,397 | +€40,695 | +128% |
| Tangible fixed assets | 22/27 | €31,701 | €72,397 | +€40,695 | +128% |
| Land and buildings | 22 | €2,520 | €1,823 | -€697 | -27.6% |
| Furniture and vehicles | 24 | €29,181 | €20,598 | -€8,583 | -29.4% |
| Leasing and similar rights | 25 | - | €49,975 | +€49,975 | |
| Current assets | 29/58 | €126,538 | €121,708 | -€4,830 | -3.8% |
| Stocks and contracts in progress | 3 | €14,452 | €15,035 | +€583 | +4.0% |
| Stocks | 30/36 | €14,452 | €15,035 | +€583 | +4.0% |
| Amounts receivable within one year | 40/41 | €102,380 | €38,671 | -€63,708 | -62.2% |
| Trade receivables | 40 | €99,886 | €33,089 | -€66,797 | -66.9% |
| Other amounts receivable | 41 | €2,493 | €5,582 | +€3,089 | +124% |
| Cash at bank and in hand | 54/58 | €9,306 | €66,660 | +€57,354 | +616% |
| Deferred charges and accrued income | 490/1 | €401 | €1,342 | +€941 | +235% |
| Total equity and liabilities | 10/49 | €158,240 | €194,105 | +€35,865 | +22.7% |
| Equity | 10/15 | €109,718 | €113,393 | +€3,674 | +3.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €95,592 | €99,266 | +€3,674 | +3.8% |
| Tax-exempt reserves | 132 | €6,325 | €6,325 | = | 0.0% |
| Distributable reserves | 133 | €89,267 | €92,942 | +€3,674 | +4.1% |
| Profit (loss) carried forward | 14 | €7,926 | €7,926 | = | 0.0% |
| Amounts payable | 17/49 | €48,522 | €80,712 | +€32,191 | +66.3% |
| Amounts payable after more than one year | 17 | - | €40,387 | +€40,387 | |
| Financial debts | 170/4 | - | €40,387 | +€40,387 | |
| Amounts payable within one year | 42/48 | €48,282 | €39,845 | -€8,437 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €3,212 | €9,363 | +€6,151 | +191% |
| Trade debts | 44 | €5,730 | €9,547 | +€3,817 | +66.6% |
| Suppliers | 440/4 | €5,730 | €9,547 | +€3,817 | +66.6% |
| Taxes, remuneration and social security | 45 | €32,519 | €15,860 | -€16,659 | -51.2% |
| Taxes | 450/3 | €32,519 | €15,860 | -€16,659 | -51.2% |
| Other amounts payable | 47/48 | €6,820 | €5,075 | -€1,745 | -25.6% |
| Accrued charges and deferred income | 492/3 | €240 | €480 | +€240 | +100% |
| Non-recurring operating income | 76A | - | €16,341 | +€16,341 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,196 | €12,220 | +€1,024 | +9.1% |
| Other operating charges | 640/8 | €698 | €1,843 | +€1,145 | +164% |
| Gross operating margin | 9900 | €58,278 | €21,909 | -€36,369 | -62.4% |
| Operating profit (loss) | 9901 | €46,383 | €7,846 | -€38,537 | -83.1% |
| Financial income | 75/76B | €57 | €1 | -€55 | -98.0% |
| Recurring financial income | 75 | €57 | €1 | -€55 | -98.0% |
| Financial charges | 65/66B | €474 | €3,479 | +€3,005 | +634% |
| Recurring financial charges | 65 | €474 | €3,479 | +€3,005 | +634% |
| Profit (loss) for the period before taxes | 9903 | €45,966 | €4,369 | -€41,597 | -90.5% |
| Income taxes | 67/77 | €15,983 | €694 | -€15,289 | -95.7% |
| Profit (loss) for the period | 9904 | €29,983 | €3,674 | -€26,308 | -87.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,983 | €3,674 | -€26,308 | -87.7% |
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 20 October 2026 via checked.be.