EC WANG: 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.
EC WANG
Largest movements
- Cash -€92,059
down €92,059 (-38.5%), from €238,828 to €146,769
mainly Contributions, distributions and other (-€95,750) and Debts after one year (-€73,705)
- Tangible fixed assets -€70,205
down €70,205 (-30.0%), from €233,906 to €163,701
of which Furniture and vehicles: -€48,183
- Current investments +€42,800
new in 2025: €42,800
- Receivables within one year +€25,704
up €25,704 (+127%), from €20,253 to €45,957
of which Other amounts receivable: +€32,369
- Intangible fixed assets -€20,000
down €20,000 (-14.0%), from €143,233 to €123,233
- Debts after one year -€73,705
down €73,705 (-64.2%), from €114,790 to €41,085
- Reserves -€30,651
down €30,651 (-6.3%), from €489,880 to €459,229
- Gross operating margin -€120,394
down €120,394 (-38.9%), from €309,488 to €189,095
- Taxes -€25,604
down €25,604 (-55.8%), from €45,903 to €20,300
- Financial charges -€10,405
down €10,405 (-63.0%), from €16,507 to €6,101
of which Non-recurring financial charges: -€8,000
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 | €703,339 | €601,023 | -€102,316 | -14.5% |
| Fixed assets | 21/28 | €379,164 | €288,959 | -€90,205 | -23.8% |
| Intangible fixed assets | 21 | €143,233 | €123,233 | -€20,000 | -14.0% |
| Tangible fixed assets | 22/27 | €233,906 | €163,701 | -€70,205 | -30.0% |
| Plant, machinery and equipment | 23 | €63,439 | €35,655 | -€27,785 | -43.8% |
| Furniture and vehicles | 24 | €170,466 | €122,283 | -€48,183 | -28.3% |
| Other tangible fixed assets | 26 | - | €5,763 | +€5,763 | |
| Financial fixed assets | 28 | €2,025 | €2,025 | = | 0.0% |
| Current assets | 29/58 | €324,176 | €312,065 | -€12,111 | -3.7% |
| Amounts receivable after more than one year | 29 | €45,000 | €45,000 | = | 0.0% |
| Other amounts receivable | 291 | €45,000 | €45,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €19,298 | €22,805 | +€3,507 | +18.2% |
| Stocks | 30/36 | €19,298 | €22,805 | +€3,507 | +18.2% |
| Amounts receivable within one year | 40/41 | €20,253 | €45,957 | +€25,704 | +127% |
| Trade receivables | 40 | €11,753 | €5,088 | -€6,665 | -56.7% |
| Other amounts receivable | 41 | €8,500 | €40,869 | +€32,369 | +381% |
| Current investments | 50/53 | - | €42,800 | +€42,800 | |
| Cash at bank and in hand | 54/58 | €238,828 | €146,769 | -€92,059 | -38.5% |
| Deferred charges and accrued income | 490/1 | €797 | €8,733 | +€7,936 | +996% |
| Total equity and liabilities | 10/49 | €703,339 | €601,023 | -€102,316 | -14.5% |
| Equity | 10/15 | €497,880 | €467,229 | -€30,651 | -6.2% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €489,880 | €459,229 | -€30,651 | -6.3% |
| Distributable reserves | 133 | €489,880 | €459,229 | -€30,651 | -6.3% |
| Amounts payable | 17/49 | €205,460 | €133,795 | -€71,665 | -34.9% |
| Amounts payable after more than one year | 17 | €114,790 | €41,085 | -€73,705 | -64.2% |
| Financial debts | 170/4 | €114,790 | €41,085 | -€73,705 | -64.2% |
| Amounts payable within one year | 42/48 | €84,248 | €86,293 | +€2,045 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €71,070 | €73,705 | +€2,635 | +3.7% |
| Trade debts | 44 | €6,458 | €7,021 | +€563 | +8.7% |
| Suppliers | 440/4 | €6,458 | €7,021 | +€563 | +8.7% |
| Taxes, remuneration and social security | 45 | €3,280 | €300 | -€2,981 | -90.9% |
| Taxes | 450/3 | €3,280 | €300 | -€2,981 | -90.9% |
| Other amounts payable | 47/48 | €3,440 | €5,267 | +€1,828 | +53.1% |
| Accrued charges and deferred income | 492/3 | €6,421 | €6,417 | -€5 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,871 | €96,550 | +€1,679 | +1.8% |
| Other operating charges | 640/8 | €793 | €1,045 | +€251 | +31.7% |
| Gross operating margin | 9900 | €309,488 | €189,095 | -€120,394 | -38.9% |
| Operating profit (loss) | 9901 | €213,823 | €91,500 | -€122,323 | -57.2% |
| Financial charges | 65/66B | €16,507 | €6,101 | -€10,405 | -63.0% |
| Recurring financial charges | 65 | €8,507 | €6,101 | -€2,405 | -28.3% |
| Non-recurring financial charges | 66B | €8,000 | - | -€8,000 | |
| Profit (loss) for the period before taxes | 9903 | €197,317 | €85,399 | -€111,918 | -56.7% |
| Income taxes | 67/77 | €45,903 | €20,300 | -€25,604 | -55.8% |
| Profit (loss) for the period | 9904 | €151,414 | €65,099 | -€86,315 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €151,414 | €65,099 | -€86,315 | -57.0% |
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 20 October 2026 via checked.be.