W.B. FINANCES: what changed
W.B. FINANCES
Largest movements
- Receivables within one year +€9,222
up €9,222 (+15.0%), from €61,378 to €70,600
of which Other amounts receivable: +€6,077
- Deferred charges and accrued income +€8,728
up €8,728 (+402%), from €2,170 to €10,898
- Cash +€7,760
up €7,760 (+462%), from €1,680 to €9,440
mainly Other debts (+€40,657) and Depreciation (+€19,107)
- Tangible fixed assets -€3,001
down €3,001 (-1.8%), from €162,285 to €159,284
of which Land and buildings: -€13,861
- Other debts +€40,657
up €40,657 (+44.4%), from €91,522 to €132,179
- Reserves -€15,471
down €15,471 (-23.9%), from €64,657 to €49,186
of which Distributable reserves: -€15,471
- Advances received -€3,157
no longer reported in 2025 (was €3,157)
- Gross operating margin +€11,532
up €11,532, from -€1,573 to €9,959
- Depreciation +€4,173
up €4,173 (+27.9%), from €14,935 to €19,107
- Other operating charges +€341
up €341 (+9.3%), from €3,676 to €4,016
- Taxes +€208
new in 2025: €208
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €227,513 | €250,222 | +€22,709 | +10.0% |
| Fixed assets | 21/28 | €162,285 | €159,284 | -€3,001 | -1.8% |
| Tangible fixed assets | 22/27 | €162,285 | €159,284 | -€3,001 | -1.8% |
| Land and buildings | 22 | €146,384 | €132,523 | -€13,861 | -9.5% |
| Plant, machinery and equipment | 23 | €15,900 | €26,760 | +€10,860 | +68.3% |
| Current assets | 29/58 | €65,229 | €90,939 | +€25,710 | +39.4% |
| Amounts receivable within one year | 40/41 | €61,378 | €70,600 | +€9,222 | +15.0% |
| Trade receivables | 40 | €14,596 | €17,740 | +€3,144 | +21.5% |
| Other amounts receivable | 41 | €46,782 | €52,860 | +€6,077 | +13.0% |
| Cash at bank and in hand | 54/58 | €1,680 | €9,440 | +€7,760 | +462% |
| Deferred charges and accrued income | 490/1 | €2,170 | €10,898 | +€8,728 | +402% |
| Total equity and liabilities | 10/49 | €227,513 | €250,222 | +€22,709 | +10.0% |
| Equity | 10/15 | €126,657 | €111,186 | -€15,471 | -12.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €64,657 | €49,186 | -€15,471 | -23.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €58,457 | €42,986 | -€15,471 | -26.5% |
| Amounts payable | 17/49 | €100,857 | €139,037 | +€38,180 | +37.9% |
| Amounts payable within one year | 42/48 | €100,857 | €138,637 | +€37,780 | +37.5% |
| Trade debts | 44 | €5,982 | €6,250 | +€268 | +4.5% |
| Suppliers | 440/4 | €5,982 | €6,250 | +€268 | +4.5% |
| Advances received on contracts in progress | 46 | €3,157 | - | -€3,157 | |
| Taxes, remuneration and social security | 45 | €196 | €208 | +€12 | +6.1% |
| Taxes | 450/3 | €196 | €208 | +€12 | +6.1% |
| Other amounts payable | 47/48 | €91,522 | €132,179 | +€40,657 | +44.4% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,935 | €19,107 | +€4,173 | +27.9% |
| Other operating charges | 640/8 | €3,676 | €4,016 | +€341 | +9.3% |
| Non-recurring operating charges | 66A | - | €2,006 | +€2,006 | |
| Gross operating margin | 9900 | -€1,573 | €9,959 | +€11,532 | |
| Operating profit (loss) | 9901 | -€20,183 | -€15,170 | +€5,013 | +24.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €87 | €92 | +€5 | +6.2% |
| Recurring financial charges | 65 | €87 | €92 | +€5 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | -€20,270 | -€15,263 | +€5,007 | +24.7% |
| Income taxes | 67/77 | - | €208 | +€208 | |
| Profit (loss) for the period | 9904 | -€20,270 | -€15,471 | +€4,799 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,270 | -€15,471 | +€4,799 | +23.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.