Dr. WU: 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.
Dr. WU
Largest movements
- Cash -€459,188
down €459,188 (-95.4%), from €481,163 to €21,975
mainly Current investments (-€350,000) and Contributions, distributions and other (-€254,477)
- Current investments +€350,000
up €350,000 (+23.3%), from €1.5m to €1.9m
- Deferred charges and accrued income +€23,582
up €23,582 (+46.8%), from €50,383 to €73,965
- Reserves -€70,336
down €70,336 (-3.9%), from €1.8m to €1.7m
- Tax, wage and social debts -€20,418
down €20,418 (-49.0%), from €41,701 to €21,283
- Gross operating margin -€74,842
down €74,842 (-24.8%), from €301,534 to €226,692
- Taxes -€22,776
down €22,776 (-22.6%), from €100,661 to €77,884
- Financial income +€22,129
up €22,129 (+57.2%), from €38,711 to €60,839
- Financial charges +€9,769
up €9,769 (+109.9%), from €8,887 to €18,657
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 | €2,035,394 | €1,950,287 | -€85,107 | -4.2% |
| Fixed assets | 21/28 | €3,847 | €4,347 | +€499 | +13.0% |
| Tangible fixed assets | 22/27 | €3,617 | €4,117 | +€499 | +13.8% |
| Plant, machinery and equipment | 23 | €1,288 | €855 | -€433 | -33.6% |
| Furniture and vehicles | 24 | €2,329 | €3,261 | +€932 | +40.0% |
| Financial fixed assets | 28 | €230 | €230 | = | 0.0% |
| Current assets | 29/58 | €2,031,547 | €1,945,940 | -€85,607 | -4.2% |
| Current investments | 50/53 | €1,500,000 | €1,850,000 | +€350,000 | +23.3% |
| Cash at bank and in hand | 54/58 | €481,163 | €21,975 | -€459,188 | -95.4% |
| Deferred charges and accrued income | 490/1 | €50,383 | €73,965 | +€23,582 | +46.8% |
| Total equity and liabilities | 10/49 | €2,035,394 | €1,950,287 | -€85,107 | -4.2% |
| Equity | 10/15 | €1,816,574 | €1,746,238 | -€70,336 | -3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,797,974 | €1,727,638 | -€70,336 | -3.9% |
| Distributable reserves | 133 | €1,797,974 | €1,727,638 | -€70,336 | -3.9% |
| Amounts payable | 17/49 | €218,820 | €204,049 | -€14,771 | -6.8% |
| Amounts payable within one year | 42/48 | €218,435 | €202,024 | -€16,411 | -7.5% |
| Trade debts | 44 | €1,621 | €538 | -€1,083 | -66.8% |
| Suppliers | 440/4 | €1,621 | €538 | -€1,083 | -66.8% |
| Taxes, remuneration and social security | 45 | €41,701 | €21,283 | -€20,418 | -49.0% |
| Taxes | 450/3 | €41,701 | €21,283 | -€20,418 | -49.0% |
| Other amounts payable | 47/48 | €175,113 | €180,203 | +€5,089 | +2.9% |
| Accrued charges and deferred income | 492/3 | €385 | €2,025 | +€1,640 | +426.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,152 | €3,100 | +€948 | +44.1% |
| Other operating charges | 640/8 | €1,936 | €3,749 | +€1,812 | +93.6% |
| Non-recurring operating charges | 66A | €1,756 | - | -€1,756 | |
| Gross operating margin | 9900 | €301,534 | €226,692 | -€74,842 | -24.8% |
| Operating profit (loss) | 9901 | €295,689 | €219,843 | -€75,846 | -25.7% |
| Financial income | 75/76B | €38,711 | €60,839 | +€22,129 | +57.2% |
| Recurring financial income | 75 | €38,711 | €60,839 | +€22,129 | +57.2% |
| Financial charges | 65/66B | €8,887 | €18,657 | +€9,769 | +109.9% |
| Recurring financial charges | 65 | €8,887 | €18,657 | +€9,769 | +109.9% |
| Profit (loss) for the period before taxes | 9903 | €325,513 | €262,026 | -€63,487 | -19.5% |
| Income taxes | 67/77 | €100,661 | €77,884 | -€22,776 | -22.6% |
| Profit (loss) for the period | 9904 | €224,852 | €184,141 | -€40,711 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €224,852 | €184,141 | -€40,711 | -18.1% |
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 4 October 2026 via checked.be.