DE WAEG: 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.
DE WAEG
Largest movements
- Cash -€38,834
down €38,834 (-50.4%), from €77,005 to €38,171
mainly Other debts (-€71,490) and Investment in fixed assets (net) (-€22,809)
- Tangible fixed assets +€15,876
up €15,876 (+11.7%), from €135,796 to €151,672
of which Land and buildings: +€16,815
- Other debts -€71,490
down €71,490 (-41.9%), from €170,569 to €99,079
- Profit (loss) carried forward +€26,638
no longer reported in 2025 (was -€26,638)
- Tax, wage and social debts +€13,856
up €13,856 (+195%), from €7,096 to €20,952
- Reserves +€8,021
new in 2025: €8,021
of which Distributable reserves: +€7,582
- Taxes +€10,518
up €10,518 (+277%), from €3,796 to €14,314
- Depreciation -€5,585
down €5,585 (-44.6%), from €12,517 to €6,932
- Gross operating margin -€2,499
down €2,499 (-4.2%), from €58,840 to €56,341
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 | €213,043 | €190,068 | -€22,975 | -10.8% |
| Fixed assets | 21/28 | €135,796 | €151,672 | +€15,876 | +11.7% |
| Tangible fixed assets | 22/27 | €135,796 | €151,672 | +€15,876 | +11.7% |
| Land and buildings | 22 | €134,857 | €151,672 | +€16,815 | +12.5% |
| Furniture and vehicles | 24 | €939 | €0 | -€939 | -100% |
| Current assets | 29/58 | €77,247 | €38,396 | -€38,851 | -50.3% |
| Cash at bank and in hand | 54/58 | €77,005 | €38,171 | -€38,834 | -50.4% |
| Deferred charges and accrued income | 490/1 | €242 | €225 | -€18 | -7.2% |
| Total equity and liabilities | 10/49 | €213,043 | €190,068 | -€22,975 | -10.8% |
| Equity | 10/15 | €35,362 | €70,021 | +€34,659 | +98.0% |
| 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 | - | €8,021 | +€8,021 | |
| Non-distributable reserves | 130/1 | - | €439 | +€439 | |
| Legal reserve | 130 | - | €439 | +€439 | |
| Distributable reserves | 133 | - | €7,582 | +€7,582 | |
| Profit (loss) carried forward | 14 | -€26,638 | - | +€26,638 | |
| Amounts payable | 17/49 | €177,681 | €120,047 | -€57,634 | -32.4% |
| Amounts payable within one year | 42/48 | €177,681 | €120,047 | -€57,634 | -32.4% |
| Trade debts | 44 | €16 | €17 | +€1 | +4.6% |
| Suppliers | 440/4 | €16 | €17 | +€1 | +4.6% |
| Taxes, remuneration and social security | 45 | €7,096 | €20,952 | +€13,856 | +195% |
| Taxes | 450/3 | €7,096 | €20,952 | +€13,856 | +195% |
| Other amounts payable | 47/48 | €170,569 | €99,079 | -€71,490 | -41.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,517 | €6,932 | -€5,585 | -44.6% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €58,840 | €56,341 | -€2,499 | -4.2% |
| Operating profit (loss) | 9901 | €45,938 | €49,021 | +€3,083 | +6.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | - | €49 | +€49 | |
| Recurring financial charges | 65 | - | €49 | +€49 | |
| Profit (loss) for the period before taxes | 9903 | €45,938 | €48,973 | +€3,034 | +6.6% |
| Income taxes | 67/77 | €3,796 | €14,314 | +€10,518 | +277% |
| Profit (loss) for the period | 9904 | €42,142 | €34,659 | -€7,483 | -17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €42,142 | €34,659 | -€7,483 | -17.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.