HET WIEL: 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.
HET WIEL
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+24.9%), from €4.3m to €5.4m
of which Land and buildings: +€1.1m
- Receivables within one year -€301,630
down €301,630 (-69.0%), from €437,427 to €135,797
- Debts after one year +€410,403
up €410,403 (+15.8%), from €2.6m to €3.0m
of which Financial debts: +€410,403
- Other debts +€367,255
up €367,255 (+134%), from €274,584 to €641,839
- Profit (loss) carried forward -€169,101
down €169,101 (-10.7%), from €1.6m to €1.4m
- Trade debts +€88,348
new in 2025: €88,348
- Tax, wage and social debts +€59,239
up €59,239 (+15,713%), from €377 to €59,616
- Other operating charges +€195,095
up €195,095 (+450%), from €43,360 to €238,455
- Gross operating margin +€112,736
up €112,736 (+58.1%), from €193,903 to €306,639
- Taxes +€34,253
no longer reported in 2025 (was -€34,253)
- Depreciation +€32,051
up €32,051 (+29.4%), from €108,883 to €140,934
- Financial charges +€12,379
up €12,379 (+17.7%), from €70,134 to €82,513
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 | €4,927,680 | €5,748,139 | +€820,459 | +16.7% |
| Fixed assets | 21/28 | €4,346,036 | €5,426,597 | +€1.1m | +24.9% |
| Tangible fixed assets | 22/27 | €4,341,678 | €5,422,239 | +€1.1m | +24.9% |
| Land and buildings | 22 | €4,338,349 | €5,420,124 | +€1.1m | +24.9% |
| Plant, machinery and equipment | 23 | €2,485 | €1,805 | -€680 | -27.4% |
| Furniture and vehicles | 24 | €844 | €310 | -€534 | -63.3% |
| Financial fixed assets | 28 | €4,358 | €4,358 | = | 0.0% |
| Current assets | 29/58 | €581,644 | €321,542 | -€260,102 | -44.7% |
| Stocks and contracts in progress | 3 | €111,297 | €111,297 | = | 0.0% |
| Stocks | 30/36 | €26,297 | €26,297 | = | 0.0% |
| Contracts in progress | 37 | €85,000 | €85,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €437,427 | €135,797 | -€301,630 | -69.0% |
| Other amounts receivable | 41 | €437,427 | €135,797 | -€301,630 | -69.0% |
| Cash at bank and in hand | 54/58 | €32,144 | €35,262 | +€3,118 | +9.7% |
| Deferred charges and accrued income | 490/1 | €776 | €39,186 | +€38,410 | +4,950% |
| Total equity and liabilities | 10/49 | €4,927,680 | €5,748,139 | +€820,459 | +16.7% |
| Equity | 10/15 | €1,893,191 | €1,755,681 | -€137,510 | -7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €231,340 | €262,931 | +€31,591 | +13.7% |
| Reserves | 13 | €63,882 | €63,882 | = | 0.0% |
| Tax-exempt reserves | 132 | €62,022 | €62,022 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,579,369 | €1,410,268 | -€169,101 | -10.7% |
| Amounts payable | 17/49 | €3,034,489 | €3,992,458 | +€957,969 | +31.6% |
| Amounts payable after more than one year | 17 | €2,594,186 | €3,004,589 | +€410,403 | +15.8% |
| Financial debts | 170/4 | €2,587,087 | €2,997,490 | +€410,403 | +15.9% |
| Other amounts payable | 178/9 | €7,099 | €7,099 | = | 0.0% |
| Amounts payable within one year | 42/48 | €433,513 | €974,049 | +€540,536 | +125% |
| Current portion of amounts payable after more than one year | 42 | €158,552 | €184,246 | +€25,694 | +16.2% |
| Trade debts | 44 | - | €88,348 | +€88,348 | |
| Suppliers | 440/4 | - | €88,348 | +€88,348 | |
| Taxes, remuneration and social security | 45 | €377 | €59,616 | +€59,239 | +15,713% |
| Taxes | 450/3 | €377 | €59,616 | +€59,239 | +15,713% |
| Other amounts payable | 47/48 | €274,584 | €641,839 | +€367,255 | +134% |
| Accrued charges and deferred income | 492/3 | €6,790 | €13,820 | +€7,030 | +104% |
| Non-recurring operating income | 76A | - | €41,022 | +€41,022 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,883 | €140,934 | +€32,051 | +29.4% |
| Other operating charges | 640/8 | €43,360 | €238,455 | +€195,095 | +450% |
| Non-recurring operating charges | 66A | - | €13,887 | +€13,887 | |
| Gross operating margin | 9900 | €193,903 | €306,639 | +€112,736 | +58.1% |
| Operating profit (loss) | 9901 | €41,660 | -€86,637 | -€128,297 | |
| Financial income | 75/76B | €400 | €49 | -€351 | -87.8% |
| Recurring financial income | 75 | €400 | €49 | -€351 | -87.8% |
| Financial charges | 65/66B | €70,134 | €82,513 | +€12,379 | +17.7% |
| Recurring financial charges | 65 | €70,134 | €82,513 | +€12,379 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | -€28,074 | -€169,101 | -€141,027 | -502% |
| Income taxes | 67/77 | -€34,253 | - | +€34,253 | |
| Profit (loss) for the period | 9904 | €6,179 | -€169,101 | -€175,280 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,179 | -€169,101 | -€175,280 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.