THEWOUW: 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.
THEWOUW
Largest movements
- Cash -€33,989
down €33,989 (-41.0%), from €82,850 to €48,861
mainly Contributions, distributions and other (-€60,000) and Receivables within one year (-€4,122)
- Tangible fixed assets -€6,058
down €6,058 (-30.9%), from €19,583 to €13,525
of which Furniture and vehicles: -€5,563
- Receivables within one year +€4,122
up €4,122 (+34.7%), from €11,878 to €16,000
of which Other amounts receivable: +€4,122
- Reserves -€33,000
down €33,000 (-34.0%), from €97,000 to €64,000
- Short-term financial debts -€2,403
no longer reported in 2025 (was €2,403)
- Debts after one year -€1,621
down €1,621 (-32.2%), from €5,034 to €3,414
- Gross operating margin -€4,576
down €4,576 (-9.7%), from €47,141 to €42,565
- Depreciation +€1,552
up €1,552 (+34.5%), from €4,505 to €6,058
- Taxes -€1,126
down €1,126 (-11.3%), from €9,949 to €8,822
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 | €114,853 | €78,686 | -€36,167 | -31.5% |
| Fixed assets | 21/28 | €19,583 | €13,525 | -€6,058 | -30.9% |
| Tangible fixed assets | 22/27 | €19,583 | €13,525 | -€6,058 | -30.9% |
| Furniture and vehicles | 24 | €17,314 | €11,751 | -€5,563 | -32.1% |
| Other tangible fixed assets | 26 | €2,269 | €1,774 | -€494 | -21.8% |
| Current assets | 29/58 | €95,270 | €65,161 | -€30,109 | -31.6% |
| Amounts receivable within one year | 40/41 | €11,878 | €16,000 | +€4,122 | +34.7% |
| Trade receivables | 40 | €11,334 | €11,334 | = | 0.0% |
| Other amounts receivable | 41 | €544 | €4,666 | +€4,122 | +757% |
| Cash at bank and in hand | 54/58 | €82,850 | €48,861 | -€33,989 | -41.0% |
| Deferred charges and accrued income | 490/1 | €542 | €300 | -€242 | -44.7% |
| Total equity and liabilities | 10/49 | €114,853 | €78,686 | -€36,167 | -31.5% |
| Equity | 10/15 | €100,525 | €67,950 | -€32,575 | -32.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €97,000 | €64,000 | -€33,000 | -34.0% |
| Distributable reserves | 133 | €97,000 | €64,000 | -€33,000 | -34.0% |
| Profit (loss) carried forward | 14 | €525 | €950 | +€425 | +80.9% |
| Amounts payable | 17/49 | €14,328 | €10,737 | -€3,591 | -25.1% |
| Amounts payable after more than one year | 17 | €5,034 | €3,414 | -€1,621 | -32.2% |
| Financial debts | 170/4 | €5,034 | €3,414 | -€1,621 | -32.2% |
| Amounts payable within one year | 42/48 | €9,294 | €7,323 | -€1,971 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €1,566 | €1,621 | +€55 | +3.5% |
| Financial debts | 43 | €2,403 | - | -€2,403 | |
| Credit institutions | 430/8 | €2,403 | - | -€2,403 | |
| Trade debts | 44 | €773 | €1,459 | +€686 | +88.7% |
| Suppliers | 440/4 | €773 | €1,459 | +€686 | +88.7% |
| Taxes, remuneration and social security | 45 | €4,552 | €4,243 | -€309 | -6.8% |
| Taxes | 450/3 | €4,552 | €4,243 | -€309 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,505 | €6,058 | +€1,552 | +34.5% |
| Other operating charges | 640/8 | €249 | €314 | +€65 | +25.9% |
| Non-recurring operating charges | 66A | €135 | - | -€135 | |
| Gross operating margin | 9900 | €47,141 | €42,565 | -€4,576 | -9.7% |
| Operating profit (loss) | 9901 | €42,252 | €36,194 | -€6,058 | -14.3% |
| Financial income | 75/76B | €517 | €402 | -€115 | -22.3% |
| Recurring financial income | 75 | €517 | €402 | -€115 | -22.3% |
| Financial charges | 65/66B | €290 | €348 | +€58 | +20.1% |
| Recurring financial charges | 65 | €290 | €348 | +€58 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | €42,479 | €36,247 | -€6,232 | -14.7% |
| Income taxes | 67/77 | €9,949 | €8,822 | -€1,126 | -11.3% |
| Profit (loss) for the period | 9904 | €32,530 | €27,425 | -€5,105 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,530 | €27,425 | -€5,105 | -15.7% |
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 23 October 2026 via checked.be.