W.C. FINISH: what changed
W.C. FINISH
Largest movements
- Receivables within one year +€51,439
up €51,439 (+54.7%), from €94,110 to €145,549
of which Trade receivables: +€41,204
- Tangible fixed assets +€23,253
up €23,253 (+242%), from €9,591 to €32,844
of which Leasing and similar rights: +€26,671
- Cash +€9,100
up €9,100 (+88.3%), from €10,308 to €19,407
mainly Trade debts (+€53,441) and Debts after one year (+€19,973)
- Trade debts +€53,441
up €53,441 (+106%), from €50,191 to €103,632
- Debts after one year +€19,973
new in 2025: €19,973
- Profit (loss) carried forward +€7,987
up €7,987 (+17.2%), from €46,422 to €54,409
- Current portion of long-term debt +€3,380
new in 2025: €3,380
- Gross operating margin -€27,239
down €27,239 (-57.7%), from €47,195 to €19,956
- Depreciation +€7,304
up €7,304 (+1,097%), from €665 to €7,969
- Taxes -€6,892
down €6,892 (-73.8%), from €9,335 to €2,443
- Financial charges +€1,628
up €1,628 (+1,928%), from €84 to €1,713
- Other operating charges -€1,417
down €1,417 (-53.4%), from €2,652 to €1,235
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 | €114,059 | €197,850 | +€83,791 | +73.5% |
| Fixed assets | 21/28 | €9,641 | €32,894 | +€23,253 | +241% |
| Tangible fixed assets | 22/27 | €9,591 | €32,844 | +€23,253 | +242% |
| Plant, machinery and equipment | 23 | €5,984 | €3,984 | -€2,000 | -33.4% |
| Furniture and vehicles | 24 | €3,607 | €2,189 | -€1,419 | -39.3% |
| Leasing and similar rights | 25 | - | €26,671 | +€26,671 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €104,418 | €164,956 | +€60,538 | +58.0% |
| Amounts receivable within one year | 40/41 | €94,110 | €145,549 | +€51,439 | +54.7% |
| Trade receivables | 40 | €70,828 | €112,032 | +€41,204 | +58.2% |
| Other amounts receivable | 41 | €23,282 | €33,517 | +€10,235 | +44.0% |
| Cash at bank and in hand | 54/58 | €10,308 | €19,407 | +€9,100 | +88.3% |
| Total equity and liabilities | 10/49 | €114,059 | €197,850 | +€83,791 | +73.5% |
| Equity | 10/15 | €47,422 | €55,409 | +€7,987 | +16.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,422 | €54,409 | +€7,987 | +17.2% |
| Amounts payable | 17/49 | €66,636 | €142,441 | +€75,804 | +114% |
| Amounts payable after more than one year | 17 | - | €19,973 | +€19,973 | |
| Financial debts | 170/4 | - | €19,973 | +€19,973 | |
| Amounts payable within one year | 42/48 | €66,636 | €122,467 | +€55,831 | +83.8% |
| Current portion of amounts payable after more than one year | 42 | - | €3,380 | +€3,380 | |
| Trade debts | 44 | €50,191 | €103,632 | +€53,441 | +106% |
| Suppliers | 440/4 | €50,191 | €103,632 | +€53,441 | +106% |
| Taxes, remuneration and social security | 45 | €16,445 | €15,455 | -€990 | -6.0% |
| Taxes | 450/3 | €14,995 | €15,455 | +€460 | +3.1% |
| Remuneration and social security | 454/9 | €1,450 | - | -€1,450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €665 | €7,969 | +€7,304 | +1,097% |
| Other operating charges | 640/8 | €2,652 | €1,235 | -€1,417 | -53.4% |
| Gross operating margin | 9900 | €47,195 | €19,956 | -€27,239 | -57.7% |
| Operating profit (loss) | 9901 | €43,877 | €10,752 | -€33,126 | -75.5% |
| Financial income | 75/76B | €919 | €1,391 | +€472 | +51.3% |
| Recurring financial income | 75 | €919 | €1,391 | +€472 | +51.3% |
| Financial charges | 65/66B | €84 | €1,713 | +€1,628 | +1,928% |
| Recurring financial charges | 65 | €84 | €1,713 | +€1,628 | +1,928% |
| Profit (loss) for the period before taxes | 9903 | €44,712 | €10,430 | -€34,282 | -76.7% |
| Income taxes | 67/77 | €9,335 | €2,443 | -€6,892 | -73.8% |
| Profit (loss) for the period | 9904 | €35,378 | €7,987 | -€27,390 | -77.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,378 | €7,987 | -€27,390 | -77.4% |
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 4 November 2026 via checked.be.