ETS VAN WONTERGHEM: 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.
ETS VAN WONTERGHEM
Largest movements
- Receivables within one year +€42,077
up €42,077 (+99.0%), from €42,515 to €84,592
- Stocks and contracts -€28,084
down €28,084 (-7.5%), from €374,074 to €345,990
- Tangible fixed assets -€12,755
down €12,755 (-1.8%), from €700,385 to €687,630
of which Land and buildings: -€23,197
- Investment grants +€53,636
new in 2025: €53,636
- Debts after one year -€38,685
down €38,685 (-8.0%), from €484,534 to €445,849
- Short-term financial debts -€31,476
no longer reported in 2025 (was €31,476)
- Reserves +€30,110
up €30,110 (+464%), from €6,486 to €36,596
of which Distributable reserves: +€30,110
- Trade debts -€13,183
down €13,183 (-26.0%), from €50,650 to €37,467
- Staff costs -€35,297
down €35,297 (-24.7%), from €142,813 to €107,515
- Gross operating margin -€14,978
down €14,978 (-7.3%), from €204,975 to €189,997
- Taxes +€2,124
new in 2025: €2,124
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 | €1,142,846 | €1,137,271 | -€5,575 | -0.5% |
| Fixed assets | 21/28 | €709,885 | €697,130 | -€12,755 | -1.8% |
| Tangible fixed assets | 22/27 | €700,385 | €687,630 | -€12,755 | -1.8% |
| Land and buildings | 22 | €672,479 | €649,282 | -€23,197 | -3.4% |
| Plant, machinery and equipment | 23 | €27,086 | €26,563 | -€522 | -1.9% |
| Furniture and vehicles | 24 | €820 | €11,784 | +€10,964 | +1,337% |
| Financial fixed assets | 28 | €9,500 | €9,500 | = | 0.0% |
| Current assets | 29/58 | €432,961 | €440,142 | +€7,180 | +1.7% |
| Stocks and contracts in progress | 3 | €374,074 | €345,990 | -€28,084 | -7.5% |
| Stocks | 30/36 | €374,074 | €345,990 | -€28,084 | -7.5% |
| Amounts receivable within one year | 40/41 | €42,515 | €84,592 | +€42,077 | +99.0% |
| Trade receivables | 40 | €42,515 | €84,592 | +€42,077 | +99.0% |
| Cash at bank and in hand | 54/58 | €16,373 | €9,560 | -€6,813 | -41.6% |
| Total equity and liabilities | 10/49 | €1,142,846 | €1,137,271 | -€5,575 | -0.5% |
| Equity | 10/15 | €139,896 | €223,642 | +€83,746 | +59.9% |
| Contributions | 10/11 | €66,060 | €66,060 | = | 0.0% |
| Contributions outside capital | 11 | €66,060 | €66,060 | = | 0.0% |
| Other | 1109/19 | €66,060 | €66,060 | = | 0.0% |
| Reserves | 13 | €6,486 | €36,596 | +€30,110 | +464% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €650 | €650 | = | 0.0% |
| Distributable reserves | 133 | €3,976 | €34,086 | +€30,110 | +757% |
| Profit (loss) carried forward | 14 | €67,350 | €67,350 | = | 0.0% |
| Investment grants | 15 | - | €53,636 | +€53,636 | |
| Amounts payable | 17/49 | €1,002,950 | €913,629 | -€89,321 | -8.9% |
| Amounts payable after more than one year | 17 | €484,534 | €445,849 | -€38,685 | -8.0% |
| Financial debts | 170/4 | €484,534 | €445,849 | -€38,685 | -8.0% |
| Amounts payable within one year | 42/48 | €518,236 | €467,600 | -€50,636 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €38,019 | €38,685 | +€666 | +1.8% |
| Financial debts | 43 | €31,476 | - | -€31,476 | |
| Credit institutions | 430/8 | €31,476 | - | -€31,476 | |
| Trade debts | 44 | €50,650 | €37,467 | -€13,183 | -26.0% |
| Suppliers | 440/4 | €50,650 | €37,467 | -€13,183 | -26.0% |
| Taxes, remuneration and social security | 45 | €29,447 | €22,542 | -€6,905 | -23.4% |
| Taxes | 450/3 | €14,602 | €8,135 | -€6,467 | -44.3% |
| Remuneration and social security | 454/9 | €14,845 | €14,407 | -€437 | -2.9% |
| Other amounts payable | 47/48 | €368,645 | €368,907 | +€262 | +0.1% |
| Accrued charges and deferred income | 492/3 | €180 | €180 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €142,813 | €107,515 | -€35,297 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,447 | €37,122 | +€675 | +1.9% |
| Other operating charges | 640/8 | €522 | €584 | +€62 | +11.8% |
| Gross operating margin | 9900 | €204,975 | €189,997 | -€14,978 | -7.3% |
| Operating profit (loss) | 9901 | €25,193 | €44,775 | +€19,583 | +77.7% |
| Financial charges | 65/66B | €12,107 | €12,541 | +€434 | +3.6% |
| Recurring financial charges | 65 | €12,107 | €12,541 | +€434 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €13,086 | €32,234 | +€19,148 | +146% |
| Income taxes | 67/77 | - | €2,124 | +€2,124 | |
| Profit (loss) for the period | 9904 | €13,086 | €30,110 | +€17,024 | +130% |
| Profit (loss) for the period to be appropriated | 9905 | €13,086 | €30,110 | +€17,024 | +130% |
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 15 October 2026 via checked.be.