R. WUYTS: 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.
R. WUYTS
Largest movements
- Tangible fixed assets +€345,955
up €345,955 (+52.1%), from €663,440 to €1.0m
of which Land and buildings: +€345,932
- Receivables within one year -€168,630
down €168,630 (-85.2%), from €198,030 to €29,400
of which Trade receivables: -€171,424
- Cash +€43,593
up €43,593 (+158%), from €27,650 to €71,243
mainly Debts after one year (+€236,594) and Receivables within one year (+€168,630)
- Debts after one year +€236,594
up €236,594 (+88.8%), from €266,437 to €503,031
- Reserves +€156,950
up €156,950 (+157%), from €100,000 to €256,950
- Trade debts -€79,846
down €79,846 (-94.4%), from €84,546 to €4,700
- Profit (loss) carried forward -€79,081
down €79,081 (-100%), from €79,081 to €0
- Other debts -€47,176
down €47,176 (-16.1%), from €293,838 to €246,662
- Gross operating margin -€132,360
down €132,360 (-53.1%), from €249,261 to €116,901
- Financial income +€71,167
up €71,167 (+12,828%), from €555 to €71,722
of which Non-recurring financial income: +€71,717
- Taxes -€16,328
down €16,328 (-30.5%), from €53,538 to €37,211
- Depreciation +€9,149
up €9,149 (+19.5%), from €46,810 to €55,959
- Financial charges +€7,007
up €7,007 (+166%), from €4,229 to €11,236
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 | €889,120 | €1,112,276 | +€223,156 | +25.1% |
| Fixed assets | 21/28 | €663,440 | €1,009,395 | +€345,955 | +52.1% |
| Tangible fixed assets | 22/27 | €663,440 | €1,009,395 | +€345,955 | +52.1% |
| Land and buildings | 22 | €659,566 | €1,005,498 | +€345,932 | +52.4% |
| Furniture and vehicles | 24 | €3,875 | €3,897 | +€23 | +0.6% |
| Current assets | 29/58 | €225,680 | €102,881 | -€122,799 | -54.4% |
| Amounts receivable within one year | 40/41 | €198,030 | €29,400 | -€168,630 | -85.2% |
| Trade receivables | 40 | €189,983 | €18,558 | -€171,424 | -90.2% |
| Other amounts receivable | 41 | €8,047 | €10,841 | +€2,794 | +34.7% |
| Cash at bank and in hand | 54/58 | €27,650 | €71,243 | +€43,593 | +158% |
| Deferred charges and accrued income | 490/1 | - | €2,239 | +€2,239 | |
| Total equity and liabilities | 10/49 | €889,120 | €1,112,276 | +€223,156 | +25.1% |
| Equity | 10/15 | €217,081 | €294,950 | +€77,870 | +35.9% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €256,950 | +€156,950 | +157% |
| Distributable reserves | 133 | €100,000 | €256,950 | +€156,950 | +157% |
| Profit (loss) carried forward | 14 | €79,081 | €0 | -€79,081 | -100% |
| Amounts payable | 17/49 | €672,040 | €817,326 | +€145,286 | +21.6% |
| Amounts payable after more than one year | 17 | €266,437 | €503,031 | +€236,594 | +88.8% |
| Financial debts | 170/4 | €266,437 | €503,031 | +€236,594 | +88.8% |
| Amounts payable within one year | 42/48 | €405,603 | €314,294 | -€91,308 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | €22,170 | €32,562 | +€10,393 | +46.9% |
| Financial debts | 43 | €1,857 | €23,454 | +€21,597 | +1,163% |
| Credit institutions | 430/8 | €1,857 | €0 | -€1,857 | -100% |
| Other loans | 439 | - | €23,454 | +€23,454 | |
| Trade debts | 44 | €84,546 | €4,700 | -€79,846 | -94.4% |
| Suppliers | 440/4 | €84,546 | €4,700 | -€79,846 | -94.4% |
| Taxes, remuneration and social security | 45 | €3,192 | €6,916 | +€3,724 | +117% |
| Taxes | 450/3 | €3,192 | €6,916 | +€3,724 | +117% |
| Other amounts payable | 47/48 | €293,838 | €246,662 | -€47,176 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,810 | €55,959 | +€9,149 | +19.5% |
| Other operating charges | 640/8 | €7,977 | €6,347 | -€1,629 | -20.4% |
| Gross operating margin | 9900 | €249,261 | €116,901 | -€132,360 | -53.1% |
| Operating profit (loss) | 9901 | €194,475 | €54,595 | -€139,880 | -71.9% |
| Financial income | 75/76B | €555 | €71,722 | +€71,167 | +12,828% |
| Recurring financial income | 75 | €555 | €5 | -€550 | -99.1% |
| Non-recurring financial income | 76B | - | €71,717 | +€71,717 | |
| Financial charges | 65/66B | €4,229 | €11,236 | +€7,007 | +166% |
| Recurring financial charges | 65 | €4,229 | €11,236 | +€7,007 | +166% |
| Profit (loss) for the period before taxes | 9903 | €190,800 | €115,081 | -€75,720 | -39.7% |
| Income taxes | 67/77 | €53,538 | €37,211 | -€16,328 | -30.5% |
| Profit (loss) for the period | 9904 | €137,262 | €77,870 | -€59,392 | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €137,262 | €77,870 | -€59,392 | -43.3% |
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 29 October 2026 via checked.be.