W.D.: 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.D.
Largest movements
- Stocks and contracts +€52,883
up €52,883 (+4.3%), from €1.2m to €1.3m
- Cash -€50,730
down €50,730 (-63.4%), from €79,995 to €29,265
mainly Stocks and contracts (-€52,883) and Other debts (-€22,573)
- Accrued charges and deferred income +€33,573
new in 2025: €33,573
- Other debts -€22,573
down €22,573 (-100.0%), from €22,573 to €0
- Other operating charges +€1,000
up €1,000 (+847.9%), from €118 to €1,118
- Gross operating margin -€860
down €860 (-39.2%), from -€2,191 to -€3,050
- Financial charges +€161
up €161 (+3.6%), from €4,516 to €4,678
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 | €1,320,900 | €1,323,054 | +€2,154 | +0.2% |
| Current assets | 29/58 | €1,320,900 | €1,323,054 | +€2,154 | +0.2% |
| Stocks and contracts in progress | 3 | €1,240,906 | €1,293,789 | +€52,883 | +4.3% |
| Stocks | 30/36 | €1,240,906 | €1,293,789 | +€52,883 | +4.3% |
| Cash at bank and in hand | 54/58 | €79,995 | €29,265 | -€50,730 | -63.4% |
| Total equity and liabilities | 10/49 | €1,320,900 | €1,323,054 | +€2,154 | +0.2% |
| Equity | 10/15 | €34,328 | €25,481 | -€8,846 | -25.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,672 | -€24,519 | -€8,846 | -56.4% |
| Amounts payable | 17/49 | €1,286,573 | €1,297,573 | +€11,000 | +0.9% |
| Amounts payable after more than one year | 17 | €220,000 | €220,000 | = | 0.0% |
| Financial debts | 170/4 | €220,000 | €220,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,066,573 | €1,044,000 | -€22,573 | -2.1% |
| Financial debts | 43 | €1,044,000 | €1,044,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,044,000 | €1,044,000 | = | 0.0% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Other amounts payable | 47/48 | €22,573 | €0 | -€22,573 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €33,573 | +€33,573 | |
| Other operating charges | 640/8 | €118 | €1,118 | +€1,000 | +847.9% |
| Gross operating margin | 9900 | -€2,191 | -€3,050 | -€860 | -39.2% |
| Operating profit (loss) | 9901 | -€2,309 | -€4,169 | -€1,860 | -80.6% |
| Financial charges | 65/66B | €4,516 | €4,678 | +€161 | +3.6% |
| Recurring financial charges | 65 | €4,516 | €4,678 | +€161 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,825 | -€8,846 | -€2,021 | -29.6% |
| Profit (loss) for the period | 9904 | -€6,825 | -€8,846 | -€2,021 | -29.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,825 | -€8,846 | -€2,021 | -29.6% |
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 11 October 2026 via checked.be.