W-BIKES: 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.
W-BIKES
Largest movements
- Receivables within one year +€26,895
up €26,895 (+1,007%), from €2,670 to €29,565
- Cash -€26,366
down €26,366 (-25.5%), from €103,264 to €76,898
mainly Trade debts (-€38,768) and Receivables within one year (-€26,895)
- Tangible fixed assets -€15,333
down €15,333 (-3.7%), from €416,852 to €401,519
of which Land and buildings: -€16,790
- Trade debts -€38,768
down €38,768 (-28.2%), from €137,430 to €98,662
- Reserves +€30,981
up €30,981 (+13.5%), from €228,692 to €259,673
- Debts after one year -€17,862
down €17,862 (-8.4%), from €212,228 to €194,366
- Tax, wage and social debts +€14,686
up €14,686 (+57.1%), from €25,735 to €40,420
of which Taxes: +€12,242
- Staff costs +€4,468
up €4,468 (+10.2%), from €43,724 to €48,192
- Financial charges -€3,383
down €3,383 (-14.6%), from €23,118 to €19,735
- Gross operating margin -€3,034
down €3,034 (-2.2%), from €137,361 to €134,326
- Depreciation +€1,566
up €1,566 (+8.9%), from €17,521 to €19,088
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 | €1,220,729 | €1,207,793 | -€12,936 | -1.1% |
| Fixed assets | 21/28 | €416,876 | €401,543 | -€15,333 | -3.7% |
| Tangible fixed assets | 22/27 | €416,852 | €401,519 | -€15,333 | -3.7% |
| Land and buildings | 22 | €412,673 | €395,884 | -€16,790 | -4.1% |
| Plant, machinery and equipment | 23 | €2,569 | €2,697 | +€128 | +5.0% |
| Furniture and vehicles | 24 | €1,610 | €2,938 | +€1,328 | +82.5% |
| Financial fixed assets | 28 | €24 | €24 | = | 0.0% |
| Current assets | 29/58 | €803,853 | €806,250 | +€2,397 | +0.3% |
| Stocks and contracts in progress | 3 | €691,114 | €695,821 | +€4,706 | +0.7% |
| Stocks | 30/36 | €691,114 | €695,821 | +€4,706 | +0.7% |
| Amounts receivable within one year | 40/41 | €2,670 | €29,565 | +€26,895 | +1,007% |
| Trade receivables | 40 | €2,670 | €29,565 | +€26,895 | +1,007% |
| Cash at bank and in hand | 54/58 | €103,264 | €76,898 | -€26,366 | -25.5% |
| Deferred charges and accrued income | 490/1 | €6,805 | €3,966 | -€2,839 | -41.7% |
| Total equity and liabilities | 10/49 | €1,220,729 | €1,207,793 | -€12,936 | -1.1% |
| Equity | 10/15 | €288,692 | €319,673 | +€30,981 | +10.7% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €228,692 | €259,673 | +€30,981 | +13.5% |
| Distributable reserves | 133 | €228,692 | €259,673 | +€30,981 | +13.5% |
| Amounts payable | 17/49 | €932,037 | €888,119 | -€43,917 | -4.7% |
| Amounts payable after more than one year | 17 | €212,228 | €194,366 | -€17,862 | -8.4% |
| Financial debts | 170/4 | €212,228 | €194,366 | -€17,862 | -8.4% |
| Amounts payable within one year | 42/48 | €719,559 | €693,209 | -€26,349 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €17,461 | €17,862 | +€401 | +2.3% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €137,430 | €98,662 | -€38,768 | -28.2% |
| Suppliers | 440/4 | €137,430 | €98,662 | -€38,768 | -28.2% |
| Taxes, remuneration and social security | 45 | €25,735 | €40,420 | +€14,686 | +57.1% |
| Taxes | 450/3 | €14,385 | €26,626 | +€12,242 | +85.1% |
| Remuneration and social security | 454/9 | €11,350 | €13,794 | +€2,444 | +21.5% |
| Other amounts payable | 47/48 | €338,933 | €336,265 | -€2,668 | -0.8% |
| Accrued charges and deferred income | 492/3 | €250 | €544 | +€294 | +118% |
| Remuneration, social security and pensions | 62 | €43,724 | €48,192 | +€4,468 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,521 | €19,088 | +€1,566 | +8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,930 | €4,104 | +€174 | +4.4% |
| Non-recurring operating charges | 66A | €595 | €0 | -€595 | -100% |
| Gross operating margin | 9900 | €137,361 | €134,326 | -€3,034 | -2.2% |
| Operating profit (loss) | 9901 | €71,591 | €62,942 | -€8,649 | -12.1% |
| Financial income | 75/76B | €1,180 | €1,007 | -€173 | -14.6% |
| Recurring financial income | 75 | €1,180 | €1,007 | -€173 | -14.6% |
| Financial charges | 65/66B | €23,118 | €19,735 | -€3,383 | -14.6% |
| Recurring financial charges | 65 | €23,118 | €19,735 | -€3,383 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €49,653 | €44,215 | -€5,439 | -11.0% |
| Income taxes | 67/77 | €14,217 | €13,233 | -€983 | -6.9% |
| Profit (loss) for the period | 9904 | €35,437 | €30,981 | -€4,456 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,437 | €30,981 | -€4,456 | -12.6% |
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 13 October 2026 via checked.be.