De Wielen: 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 Wielen
Largest movements
- Receivables within one year -€22,427
down €22,427 (-38.8%), from €57,872 to €35,445
of which Other amounts receivable: -€16,701
- Tangible fixed assets +€19,633
up €19,633 (+1.2%), from €1.6m to €1.6m
of which Plant, machinery and equipment: +€62,656
- Debts after one year -€34,225
down €34,225 (-59.4%), from €57,623 to €23,398
- Reserves +€20,062
up €20,062 (+1.8%), from €1.1m to €1.2m
of which Distributable reserves: +€20,062
- Gross operating margin +€67,850
up €67,850 (+14.5%), from €467,607 to €535,458
- Depreciation +€17,572
up €17,572 (+17.5%), from €100,448 to €118,019
- Staff costs +€16,038
up €16,038 (+7.7%), from €207,808 to €223,846
- Taxes +€8,174
up €8,174 (+100%), from €8,149 to €16,324
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 | €1,769,501 | €1,770,331 | +€830 | 0.0% |
| Fixed assets | 21/28 | €1,602,829 | €1,622,462 | +€19,633 | +1.2% |
| Tangible fixed assets | 22/27 | €1,602,204 | €1,621,837 | +€19,633 | +1.2% |
| Land and buildings | 22 | €1,228,782 | €1,218,468 | -€10,314 | -0.8% |
| Plant, machinery and equipment | 23 | €274,264 | €336,921 | +€62,656 | +22.8% |
| Furniture and vehicles | 24 | €99,158 | €66,449 | -€32,709 | -33.0% |
| Financial fixed assets | 28 | €625 | €625 | = | 0.0% |
| Current assets | 29/58 | €166,671 | €147,869 | -€18,803 | -11.3% |
| Amounts receivable within one year | 40/41 | €57,872 | €35,445 | -€22,427 | -38.8% |
| Trade receivables | 40 | €17,775 | €12,049 | -€5,726 | -32.2% |
| Other amounts receivable | 41 | €40,097 | €23,396 | -€16,701 | -41.7% |
| Cash at bank and in hand | 54/58 | €4,200 | €6,366 | +€2,166 | +51.6% |
| Deferred charges and accrued income | 490/1 | €104,600 | €106,058 | +€1,458 | +1.4% |
| Total equity and liabilities | 10/49 | €1,769,501 | €1,770,331 | +€830 | 0.0% |
| Equity | 10/15 | €1,366,102 | €1,386,163 | +€20,062 | +1.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,139,745 | €1,159,806 | +€20,062 | +1.8% |
| Non-distributable reserves | 130/1 | €11,037 | €11,037 | = | 0.0% |
| Legal reserve | 130 | €11,037 | €11,037 | = | 0.0% |
| Distributable reserves | 133 | €1,128,708 | €1,148,769 | +€20,062 | +1.8% |
| Profit (loss) carried forward | 14 | €164,857 | €164,857 | = | 0.0% |
| Amounts payable | 17/49 | €403,399 | €384,168 | -€19,232 | -4.8% |
| Amounts payable after more than one year | 17 | €57,623 | €23,398 | -€34,225 | -59.4% |
| Financial debts | 170/4 | €57,623 | €23,398 | -€34,225 | -59.4% |
| Amounts payable within one year | 42/48 | €345,776 | €360,769 | +€14,993 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €43,065 | €34,225 | -€8,841 | -20.5% |
| Financial debts | 43 | €20,239 | €29,604 | +€9,365 | +46.3% |
| Credit institutions | 430/8 | €20,239 | €29,604 | +€9,365 | +46.3% |
| Trade debts | 44 | €164,708 | €174,332 | +€9,624 | +5.8% |
| Suppliers | 440/4 | €164,708 | €174,332 | +€9,624 | +5.8% |
| Taxes, remuneration and social security | 45 | €5,370 | €7,560 | +€2,191 | +40.8% |
| Taxes | 450/3 | €2,779 | €6,626 | +€3,848 | +138% |
| Remuneration and social security | 454/9 | €2,591 | €934 | -€1,657 | -64.0% |
| Other amounts payable | 47/48 | €112,394 | €115,049 | +€2,654 | +2.4% |
| Remuneration, social security and pensions | 62 | €207,808 | €223,846 | +€16,038 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,448 | €118,019 | +€17,572 | +17.5% |
| Other operating charges | 640/8 | €147,093 | €149,265 | +€2,172 | +1.5% |
| Gross operating margin | 9900 | €467,607 | €535,458 | +€67,850 | +14.5% |
| Operating profit (loss) | 9901 | €12,258 | €44,326 | +€32,068 | +262% |
| Financial income | 75/76B | €105 | €326 | +€221 | +210% |
| Recurring financial income | 75 | €105 | €326 | +€221 | +210% |
| Financial charges | 65/66B | €7,557 | €8,267 | +€710 | +9.4% |
| Recurring financial charges | 65 | €7,557 | €8,267 | +€710 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €4,806 | €36,385 | +€31,579 | +657% |
| Income taxes | 67/77 | €8,149 | €16,324 | +€8,174 | +100% |
| Profit (loss) for the period | 9904 | -€3,343 | €20,062 | +€23,405 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,343 | €20,062 | +€23,405 |
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 28 October 2026 via checked.be.