DC WULLAERT: 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.
DC WULLAERT
Largest movements
- Receivables within one year -€139,868
down €139,868 (-59.5%), from €235,032 to €95,164
of which Trade receivables: -€148,890
- Cash +€136,392
up €136,392 (+331.4%), from €41,153 to €177,545
mainly Receivables within one year (+€139,868) and Net result for the year (+€39,592)
- Tangible fixed assets +€7,958
up €7,958 (+30.5%), from €26,119 to €34,077
of which Plant, machinery and equipment: +€7,083
- Stocks and contracts +€6,419
up €6,419 (+128.7%), from €4,986 to €11,405
- Deferred charges and accrued income -€3,645
down €3,645 (-38.5%), from €9,474 to €5,829
- Trade debts -€43,944
down €43,944 (-28.6%), from €153,390 to €109,446
- Reserves +€27,682
up €27,682 (+22.3%), from €124,202 to €151,883
- Other debts +€11,910
up €11,910, from €0 to €11,910
- Tax, wage and social debts +€11,608
up €11,608 (+50.9%), from €22,807 to €34,415
of which Taxes: +€11,591
- Gross operating margin +€46,873
up €46,873 (+51.3%), from €91,364 to €138,237
- Taxes +€10,157
up €10,157 (+166.3%), from €6,106 to €16,264
- Financial income -€7,914
down €7,914 (-67.9%), from €11,656 to €3,742
- Staff costs +€5,148
up €5,148 (+9.0%), from €57,203 to €62,351
- Financial charges -€3,347
down €3,347 (-37.8%), from €8,858 to €5,511
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 | €318,899 | €326,154 | +€7,255 | +2.3% |
| Fixed assets | 21/28 | €28,254 | €36,212 | +€7,958 | +28.2% |
| Tangible fixed assets | 22/27 | €26,119 | €34,077 | +€7,958 | +30.5% |
| Land and buildings | 22 | €5,729 | €4,297 | -€1,432 | -25.0% |
| Plant, machinery and equipment | 23 | €11,025 | €18,108 | +€7,083 | +64.2% |
| Furniture and vehicles | 24 | €9,364 | €11,671 | +€2,307 | +24.6% |
| Financial fixed assets | 28 | €2,135 | €2,135 | = | 0.0% |
| Current assets | 29/58 | €290,645 | €289,943 | -€703 | -0.2% |
| Stocks and contracts in progress | 3 | €4,986 | €11,405 | +€6,419 | +128.7% |
| Stocks | 30/36 | €4,986 | €11,405 | +€6,419 | +128.7% |
| Amounts receivable within one year | 40/41 | €235,032 | €95,164 | -€139,868 | -59.5% |
| Trade receivables | 40 | €211,039 | €62,149 | -€148,890 | -70.6% |
| Other amounts receivable | 41 | €23,993 | €33,015 | +€9,022 | +37.6% |
| Cash at bank and in hand | 54/58 | €41,153 | €177,545 | +€136,392 | +331.4% |
| Deferred charges and accrued income | 490/1 | €9,474 | €5,829 | -€3,645 | -38.5% |
| Total equity and liabilities | 10/49 | €318,899 | €326,154 | +€7,255 | +2.3% |
| Equity | 10/15 | €142,702 | €170,383 | +€27,682 | +19.4% |
| Contributions | 10/11 | €18,500 | €18,500 | = | 0.0% |
| Reserves | 13 | €124,202 | €151,883 | +€27,682 | +22.3% |
| Distributable reserves | 133 | €124,202 | €151,883 | +€27,682 | +22.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €176,197 | €155,771 | -€20,426 | -11.6% |
| Amounts payable within one year | 42/48 | €176,197 | €155,771 | -€20,426 | -11.6% |
| Trade debts | 44 | €153,390 | €109,446 | -€43,944 | -28.6% |
| Suppliers | 440/4 | €153,390 | €109,446 | -€43,944 | -28.6% |
| Taxes, remuneration and social security | 45 | €22,807 | €34,415 | +€11,608 | +50.9% |
| Taxes | 450/3 | €16,400 | €27,991 | +€11,591 | +70.7% |
| Remuneration and social security | 454/9 | €6,407 | €6,424 | +€17 | +0.3% |
| Other amounts payable | 47/48 | €0 | €11,910 | +€11,910 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €57,203 | €62,351 | +€5,148 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,430 | €16,829 | +€398 | +2.4% |
| Other operating charges | 640/8 | €1,300 | €1,433 | +€132 | +10.2% |
| Gross operating margin | 9900 | €91,364 | €138,237 | +€46,873 | +51.3% |
| Operating profit (loss) | 9901 | €16,430 | €57,625 | +€41,194 | +250.7% |
| Financial income | 75/76B | €11,656 | €3,742 | -€7,914 | -67.9% |
| Recurring financial income | 75 | €11,656 | €3,742 | -€7,914 | -67.9% |
| Financial charges | 65/66B | €8,858 | €5,511 | -€3,347 | -37.8% |
| Recurring financial charges | 65 | €8,858 | €5,511 | -€3,347 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €19,228 | €55,855 | +€36,627 | +190.5% |
| Income taxes | 67/77 | €6,106 | €16,264 | +€10,157 | +166.3% |
| Profit (loss) for the period | 9904 | €13,121 | €39,592 | +€26,470 | +201.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,121 | €39,592 | +€26,470 | +201.7% |
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 8 October 2026 via checked.be.