't WERKPAND: 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.
't WERKPAND
Largest movements
- Receivables within one year -€572,638
down €572,638 (-62.3%), from €919,404 to €346,766
of which Other amounts receivable: -€430,338
- Cash +€99,313
up €99,313 (+26.3%), from €377,242 to €476,555
mainly Receivables within one year (+€572,638) and Depreciation (+€319,799)
- Deferred charges and accrued income -€55,853
down €55,853 (-100%), from €55,853 to €0
- Intangible fixed assets -€41,085
down €41,085 (-13.8%), from €297,724 to €256,639
- Trade debts -€590,620
down €590,620 (-65.4%), from €903,455 to €312,836
- Debts after one year -€218,303
down €218,303 (-53.7%), from €406,513 to €188,210
- Investment grants +€197,102
up €197,102 (+31.5%), from €626,048 to €823,150
- Tax, wage and social debts +€82,021
up €82,021 (+300%), from €27,360 to €109,381
of which Remuneration and social security: +€46,401
- Profit (loss) carried forward -€75,065
down €75,065 (-11.6%), from -€644,815 to -€719,880
- Gross operating margin +€532,930
up €532,930 (+427%), from €124,697 to €657,627
- Staff costs +€324,649
up €324,649 (+298%), from €108,986 to €433,635
- Depreciation +€109,526
up €109,526 (+52.1%), from €210,273 to €319,799
- Financial income +€108,650
up €108,650 (+318%), from €34,165 to €142,814
- Write-downs -€29,660
down €29,660 (-74.8%), from €39,665 to €10,004
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 | €3,748,981 | €3,144,148 | -€604,832 | -16.1% |
| Fixed assets | 21/28 | €2,396,482 | €2,320,828 | -€75,654 | -3.2% |
| Intangible fixed assets | 21 | €297,724 | €256,639 | -€41,085 | -13.8% |
| Tangible fixed assets | 22/27 | €2,098,609 | €2,064,038 | -€34,571 | -1.6% |
| Land and buildings | 22 | €351,137 | €312,304 | -€38,833 | -11.1% |
| Plant, machinery and equipment | 23 | €153,068 | €189,759 | +€36,692 | +24.0% |
| Furniture and vehicles | 24 | €102,137 | €82,114 | -€20,022 | -19.6% |
| Other tangible fixed assets | 26 | €1,488,051 | €1,475,644 | -€12,407 | -0.8% |
| Assets under construction and advance payments | 27 | €4,217 | €4,217 | = | 0.0% |
| Financial fixed assets | 28 | €149 | €150 | +€1 | +0.7% |
| Current assets | 29/58 | €1,352,499 | €823,321 | -€529,178 | -39.1% |
| Amounts receivable within one year | 40/41 | €919,404 | €346,766 | -€572,638 | -62.3% |
| Trade receivables | 40 | €266,039 | €123,739 | -€142,300 | -53.5% |
| Other amounts receivable | 41 | €653,364 | €223,026 | -€430,338 | -65.9% |
| Cash at bank and in hand | 54/58 | €377,242 | €476,555 | +€99,313 | +26.3% |
| Deferred charges and accrued income | 490/1 | €55,853 | €0 | -€55,853 | -100% |
| Total equity and liabilities | 10/49 | €3,748,981 | €3,144,148 | -€604,832 | -16.1% |
| Equity | 10/15 | €2,231,871 | €2,353,908 | +€122,037 | +5.5% |
| Contributions | 10/11 | €1,902,324 | €1,902,324 | = | 0.0% |
| Capital | 10 | €1,902,324 | €1,902,324 | = | 0.0% |
| Issued capital | 100 | €1,902,324 | €1,902,324 | = | 0.0% |
| Reserves | 13 | €348,314 | €348,314 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36,785 | €36,785 | = | 0.0% |
| Legal reserve | 130 | €36,785 | €36,785 | = | 0.0% |
| Distributable reserves | 133 | €311,529 | €311,529 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€644,815 | -€719,880 | -€75,065 | -11.6% |
| Investment grants | 15 | €626,048 | €823,150 | +€197,102 | +31.5% |
| Provisions and deferred taxes | 16 | €348 | €0 | -€348 | -100% |
| Deferred taxes | 168 | €348 | €0 | -€348 | -100% |
| Amounts payable | 17/49 | €1,516,761 | €790,240 | -€726,520 | -47.9% |
| Amounts payable after more than one year | 17 | €406,513 | €188,210 | -€218,303 | -53.7% |
| Financial debts | 170/4 | €406,513 | €188,210 | -€218,303 | -53.7% |
| Amounts payable within one year | 42/48 | €1,110,248 | €602,031 | -€508,217 | -45.8% |
| Current portion of amounts payable after more than one year | 42 | €18,154 | €18,303 | +€150 | +0.8% |
| Trade debts | 44 | €903,455 | €312,836 | -€590,620 | -65.4% |
| Suppliers | 440/4 | €903,455 | €312,836 | -€590,620 | -65.4% |
| Advances received on contracts in progress | 46 | €4,304 | €2,848 | -€1,456 | -33.8% |
| Taxes, remuneration and social security | 45 | €27,360 | €109,381 | +€82,021 | +300% |
| Taxes | 450/3 | €15,021 | €50,640 | +€35,620 | +237% |
| Remuneration and social security | 454/9 | €12,339 | €58,741 | +€46,401 | +376% |
| Other amounts payable | 47/48 | €156,976 | €158,663 | +€1,688 | +1.1% |
| Non-recurring operating income | 76A | €0 | €26,232 | +€26,232 | |
| Remuneration, social security and pensions | 62 | €108,986 | €433,635 | +€324,649 | +298% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,273 | €319,799 | +€109,526 | +52.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €39,665 | €10,004 | -€29,660 | -74.8% |
| Other operating charges | 640/8 | €8,046 | €9,445 | +€1,399 | +17.4% |
| Non-recurring operating charges | 66A | - | €103,936 | +€103,936 | |
| Gross operating margin | 9900 | €124,697 | €657,627 | +€532,930 | +427% |
| Operating profit (loss) | 9901 | -€242,273 | -€219,192 | +€23,081 | +9.5% |
| Financial income | 75/76B | €34,165 | €142,814 | +€108,650 | +318% |
| Recurring financial income | 75 | €34,165 | €142,814 | +€108,650 | +318% |
| Financial charges | 65/66B | €8,729 | -€455 | -€9,184 | |
| Recurring financial charges | 65 | €8,729 | -€455 | -€9,184 | |
| Profit (loss) for the period before taxes | 9903 | -€216,838 | -€75,922 | +€140,916 | +65.0% |
| Transfer from deferred taxes | 780 | €348 | €348 | +€0 | 0.0% |
| Income taxes | 67/77 | €0 | -€508 | -€508 | |
| Profit (loss) for the period | 9904 | -€216,489 | -€75,065 | +€141,424 | +65.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€216,489 | -€75,065 | +€141,424 | +65.3% |
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.