W.CARPENTRY: what changed
Two fiscal 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.CARPENTRY
Largest movements
- Cash -€7,697
down €7,697 (-57.1%), from €13,484 to €5,787
mainly Investment in fixed assets (net) (-€24,000) and Tax, wage and social debts (-€14,013)
- Deferred charges and accrued income -€7,337
down €7,337 (-48.7%), from €15,052 to €7,715
- Receivables within one year +€5,731
up €5,731 (+12.7%), from €45,065 to €50,796
of which Trade receivables: +€12,770
- Tangible fixed assets +€2,461
up €2,461 (+4.1%), from €60,525 to €62,985
of which Furniture and vehicles: +€4,127
- Trade debts +€18,518
up €18,518 (+86.9%), from €21,312 to €39,830
- Tax, wage and social debts -€14,013
down €14,013 (-42.3%), from €33,154 to €19,141
of which Taxes: -€13,316
- Debts after one year -€7,912
down €7,912 (-26.4%), from €29,996 to €22,083
- Profit (loss) carried forward -€2,812
down €2,812 (-7.4%), from €38,028 to €35,217
- Gross operating margin -€11,722
down €11,722 (-9.6%), from €121,856 to €110,134
- Staff costs -€10,811
down €10,811 (-11.4%), from €94,602 to €83,791
- Depreciation +€8,211
up €8,211 (+61.6%), from €13,329 to €21,540
- Write-downs +€3,310
new in 2025: €3,310
- Financial charges +€2,488
up €2,488 (+168.3%), from €1,479 to €3,967
of which Non-recurring financial charges: +€1,653
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.
Cash bridge derived
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 | €134,126 | €127,284 | -€6,843 | -5.1% |
| Fixed assets | 21/28 | €60,525 | €62,985 | +€2,461 | +4.1% |
| Tangible fixed assets | 22/27 | €60,525 | €62,985 | +€2,461 | +4.1% |
| Plant, machinery and equipment | 23 | €12,047 | €10,381 | -€1,666 | -13.8% |
| Furniture and vehicles | 24 | €48,477 | €52,604 | +€4,127 | +8.5% |
| Current assets | 29/58 | €73,601 | €64,298 | -€9,303 | -12.6% |
| Amounts receivable within one year | 40/41 | €45,065 | €50,796 | +€5,731 | +12.7% |
| Trade receivables | 40 | €28,788 | €41,559 | +€12,770 | +44.4% |
| Other amounts receivable | 41 | €16,277 | €9,237 | -€7,040 | -43.3% |
| Cash at bank and in hand | 54/58 | €13,484 | €5,787 | -€7,697 | -57.1% |
| Deferred charges and accrued income | 490/1 | €15,052 | €7,715 | -€7,337 | -48.7% |
| Total equity and liabilities | 10/49 | €134,126 | €127,284 | -€6,843 | -5.1% |
| Equity | 10/15 | €41,028 | €38,217 | -€2,812 | -6.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,028 | €35,217 | -€2,812 | -7.4% |
| Amounts payable | 17/49 | €93,098 | €89,067 | -€4,031 | -4.3% |
| Amounts payable after more than one year | 17 | €29,996 | €22,083 | -€7,912 | -26.4% |
| Financial debts | 170/4 | €29,996 | €22,083 | -€7,912 | -26.4% |
| Amounts payable within one year | 42/48 | €63,102 | €66,984 | +€3,881 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €7,580 | €7,912 | +€332 | +4.4% |
| Financial debts | 43 | €1,056 | - | -€1,056 | |
| Credit institutions | 430/8 | €1,056 | - | -€1,056 | |
| Trade debts | 44 | €21,312 | €39,830 | +€18,518 | +86.9% |
| Suppliers | 440/4 | €21,312 | €39,830 | +€18,518 | +86.9% |
| Advances received on contracts in progress | 46 | - | €100 | +€100 | |
| Taxes, remuneration and social security | 45 | €33,154 | €19,141 | -€14,013 | -42.3% |
| Taxes | 450/3 | €25,039 | €11,723 | -€13,316 | -53.2% |
| Remuneration and social security | 454/9 | €8,114 | €7,418 | -€696 | -8.6% |
| Non-recurring operating income | 76A | €1,403 | €613 | -€790 | -56.3% |
| Remuneration, social security and pensions | 62 | €94,602 | €83,791 | -€10,811 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,329 | €21,540 | +€8,211 | +61.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,310 | +€3,310 | |
| Other operating charges | 640/8 | €1,196 | €1,870 | +€674 | +56.4% |
| Gross operating margin | 9900 | €121,856 | €110,134 | -€11,722 | -9.6% |
| Operating profit (loss) | 9901 | €12,729 | -€377 | -€13,106 | |
| Financial income | 75/76B | €1,699 | €2,972 | +€1,273 | +74.9% |
| Recurring financial income | 75 | €199 | €2,972 | +€2,772 | +1389.8% |
| Non-recurring financial income | 76B | €1,500 | - | -€1,500 | |
| Financial charges | 65/66B | €1,479 | €3,967 | +€2,488 | +168.3% |
| Recurring financial charges | 65 | €906 | €1,741 | +€835 | +92.1% |
| Non-recurring financial charges | 66B | €572 | €2,226 | +€1,653 | +288.8% |
| Profit (loss) for the period before taxes | 9903 | €12,950 | -€1,373 | -€14,322 | |
| Income taxes | 67/77 | €3,118 | €1,439 | -€1,679 | -53.8% |
| Profit (loss) for the period | 9904 | €9,831 | -€2,812 | -€12,643 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,831 | -€2,812 | -€12,643 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.