DE WANDELSTOK: 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 WANDELSTOK
Largest movements
- Tangible fixed assets -€18,919
down €18,919 (-41.4%), from €45,698 to €26,780
of which Furniture and vehicles: -€10,959
- Receivables within one year +€12,435
up €12,435 (+95.0%), from €13,082 to €25,517
of which Trade receivables: +€8,030
- Stocks and contracts -€10,222
down €10,222 (-2.5%), from €410,562 to €400,341
- Reserves +€24,778
up €24,778 (+5.2%), from €481,101 to €505,879
- Debts after one year -€20,874
down €20,874 (-90.3%), from €23,119 to €2,245
- Tax, wage and social debts -€9,099
down €9,099 (-54.9%), from €16,581 to €7,482
of which Taxes: -€7,716
- Other debts -€7,373
down €7,373 (-62.8%), from €11,739 to €4,366
- Current portion of long-term debt -€6,979
down €6,979 (-25.1%), from €27,853 to €20,874
- Gross operating margin -€52,907
down €52,907 (-41.1%), from €128,757 to €75,850
- Taxes -€12,412
down €12,412 (-53.7%), from €23,108 to €10,696
- Financial charges -€4,658
down €4,658 (-62.6%), from €7,436 to €2,778
- Depreciation -€3,535
down €3,535 (-15.7%), from €22,454 to €18,919
- Other operating charges +€1,772
up €1,772 (+44.7%), from €3,961 to €5,732
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 | €586,814 | €568,838 | -€17,976 | -3.1% |
| Fixed assets | 21/28 | €47,128 | €27,560 | -€19,569 | -41.5% |
| Tangible fixed assets | 22/27 | €45,698 | €26,780 | -€18,919 | -41.4% |
| Land and buildings | 22 | €6,634 | €0 | -€6,634 | -100% |
| Plant, machinery and equipment | 23 | €4,915 | €3,589 | -€1,327 | -27.0% |
| Furniture and vehicles | 24 | €34,150 | €23,191 | -€10,959 | -32.1% |
| Financial fixed assets | 28 | €1,430 | €780 | -€650 | -45.5% |
| Current assets | 29/58 | €539,686 | €541,279 | +€1,593 | +0.3% |
| Stocks and contracts in progress | 3 | €410,562 | €400,341 | -€10,222 | -2.5% |
| Stocks | 30/36 | €410,562 | €400,341 | -€10,222 | -2.5% |
| Amounts receivable within one year | 40/41 | €13,082 | €25,517 | +€12,435 | +95.0% |
| Trade receivables | 40 | €13,082 | €21,112 | +€8,030 | +61.4% |
| Other amounts receivable | 41 | €0 | €4,404 | +€4,404 | |
| Cash at bank and in hand | 54/58 | €109,533 | €111,641 | +€2,108 | +1.9% |
| Deferred charges and accrued income | 490/1 | €6,509 | €3,781 | -€2,728 | -41.9% |
| Total equity and liabilities | 10/49 | €586,814 | €568,838 | -€17,976 | -3.1% |
| Equity | 10/15 | €499,701 | €524,479 | +€24,778 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €481,101 | €505,879 | +€24,778 | +5.2% |
| Distributable reserves | 133 | €481,101 | €505,879 | +€24,778 | +5.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €87,113 | €44,359 | -€42,754 | -49.1% |
| Amounts payable after more than one year | 17 | €23,119 | €2,245 | -€20,874 | -90.3% |
| Financial debts | 170/4 | €23,119 | €2,245 | -€20,874 | -90.3% |
| Amounts payable within one year | 42/48 | €62,670 | €42,025 | -€20,645 | -32.9% |
| Current portion of amounts payable after more than one year | 42 | €27,853 | €20,874 | -€6,979 | -25.1% |
| Trade debts | 44 | €6,497 | €9,302 | +€2,805 | +43.2% |
| Suppliers | 440/4 | €6,497 | €9,302 | +€2,805 | +43.2% |
| Taxes, remuneration and social security | 45 | €16,581 | €7,482 | -€9,099 | -54.9% |
| Taxes | 450/3 | €13,178 | €5,461 | -€7,716 | -58.6% |
| Remuneration and social security | 454/9 | €3,403 | €2,021 | -€1,383 | -40.6% |
| Other amounts payable | 47/48 | €11,739 | €4,366 | -€7,373 | -62.8% |
| Accrued charges and deferred income | 492/3 | €1,324 | €89 | -€1,234 | -93.3% |
| Remuneration, social security and pensions | 62 | €15,067 | €15,264 | +€198 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,454 | €18,919 | -€3,535 | -15.7% |
| Other operating charges | 640/8 | €3,961 | €5,732 | +€1,772 | +44.7% |
| Gross operating margin | 9900 | €128,757 | €75,850 | -€52,907 | -41.1% |
| Operating profit (loss) | 9901 | €87,276 | €35,934 | -€51,342 | -58.8% |
| Financial income | 75/76B | €2,354 | €3,983 | +€1,629 | +69.2% |
| Recurring financial income | 75 | €2,354 | €3,983 | +€1,629 | +69.2% |
| Financial charges | 65/66B | €7,436 | €2,778 | -€4,658 | -62.6% |
| Recurring financial charges | 65 | €7,436 | €2,778 | -€4,658 | -62.6% |
| Profit (loss) for the period before taxes | 9903 | €82,194 | €37,140 | -€45,055 | -54.8% |
| Income taxes | 67/77 | €23,108 | €10,696 | -€12,412 | -53.7% |
| Profit (loss) for the period | 9904 | €59,086 | €26,444 | -€32,642 | -55.2% |
| Profit (loss) for the period to be appropriated | 9905 | €59,086 | €26,444 | -€32,642 | -55.2% |
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 22 October 2026 via checked.be.