W-Fisc: 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-Fisc
Largest movements
- Tangible fixed assets +€40,162
up €40,162 (+142%), from €28,330 to €68,491
of which Furniture and vehicles: +€48,372
- Cash +€34,515
up €34,515 (+87.3%), from €39,541 to €74,056
mainly Net result for the year (+€107,219) and Current portion of long-term debt (+€45,230)
- Receivables within one year +€16,358
new in 2025: €16,358
- Profit (loss) carried forward +€105,619
up €105,619 (+352%), from €29,992 to €135,611
- Debts after one year -€58,021
down €58,021 (-17.7%), from €328,509 to €270,488
- Current portion of long-term debt +€45,230
up €45,230 (+93.1%), from €48,593 to €93,824
- Trade debts +€5,993
up €5,993 (+445%), from €1,346 to €7,339
- Financial income +€80,552
up €80,552 (+40,734%), from €198 to €80,750
- Gross operating margin +€37,474
up €37,474 (+87.4%), from €42,880 to €80,353
- Financial charges +€12,222
up €12,222 (+310%), from €3,946 to €16,168
- Depreciation +€10,596
up €10,596 (+101%), from €10,504 to €21,100
- Staff costs +€2,968
up €2,968 (+1,187%), from €250 to €3,218
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 | €454,510 | €552,372 | +€97,863 | +21.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €406,890 | €447,052 | +€40,162 | +9.9% |
| Tangible fixed assets | 22/27 | €28,330 | €68,491 | +€40,162 | +142% |
| Furniture and vehicles | 24 | €5,751 | €54,123 | +€48,372 | +841% |
| Leasing and similar rights | 25 | €22,579 | €14,368 | -€8,210 | -36.4% |
| Financial fixed assets | 28 | €378,560 | €378,560 | = | 0.0% |
| Current assets | 29/58 | €47,620 | €105,321 | +€57,701 | +121% |
| Amounts receivable within one year | 40/41 | - | €16,358 | +€16,358 | |
| Trade receivables | 40 | - | €16,358 | +€16,358 | |
| Current investments | 50/53 | €6,990 | €10,984 | +€3,994 | +57.1% |
| Cash at bank and in hand | 54/58 | €39,541 | €74,056 | +€34,515 | +87.3% |
| Deferred charges and accrued income | 490/1 | €1,088 | €3,924 | +€2,835 | +260% |
| Total equity and liabilities | 10/49 | €454,510 | €552,372 | +€97,863 | +21.5% |
| Equity | 10/15 | €32,992 | €138,611 | +€105,619 | +320% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,992 | €135,611 | +€105,619 | +352% |
| Amounts payable | 17/49 | €421,518 | €413,762 | -€7,756 | -1.8% |
| Amounts payable after more than one year | 17 | €328,509 | €270,488 | -€58,021 | -17.7% |
| Financial debts | 170/4 | €328,509 | €270,488 | -€58,021 | -17.7% |
| Amounts payable within one year | 42/48 | €93,009 | €141,653 | +€48,643 | +52.3% |
| Current portion of amounts payable after more than one year | 42 | €48,593 | €93,824 | +€45,230 | +93.1% |
| Trade debts | 44 | €1,346 | €7,339 | +€5,993 | +445% |
| Suppliers | 440/4 | €1,346 | €7,339 | +€5,993 | +445% |
| Advances received on contracts in progress | 46 | €1,059 | - | -€1,059 | |
| Taxes, remuneration and social security | 45 | €7,460 | €5,854 | -€1,606 | -21.5% |
| Taxes | 450/3 | €4,951 | €3,306 | -€1,645 | -33.2% |
| Remuneration and social security | 454/9 | €2,509 | €2,548 | +€39 | +1.6% |
| Other amounts payable | 47/48 | €34,551 | €34,636 | +€85 | +0.2% |
| Accrued charges and deferred income | 492/3 | - | €1,622 | +€1,622 | |
| Remuneration, social security and pensions | 62 | €250 | €3,218 | +€2,968 | +1,187% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,504 | €21,100 | +€10,596 | +101% |
| Other operating charges | 640/8 | €1,462 | €2,026 | +€564 | +38.6% |
| Non-recurring operating charges | 66A | - | €1,164 | +€1,164 | |
| Gross operating margin | 9900 | €42,880 | €80,353 | +€37,474 | +87.4% |
| Operating profit (loss) | 9901 | €30,664 | €52,847 | +€22,183 | +72.3% |
| Financial income | 75/76B | €198 | €80,750 | +€80,552 | +40,734% |
| Recurring financial income | 75 | €198 | €80,750 | +€80,552 | +40,734% |
| Financial charges | 65/66B | €3,946 | €16,168 | +€12,222 | +310% |
| Recurring financial charges | 65 | €3,946 | €16,168 | +€12,222 | +310% |
| Profit (loss) for the period before taxes | 9903 | €26,916 | €117,429 | +€90,513 | +336% |
| Income taxes | 67/77 | €9,081 | €10,210 | +€1,129 | +12.4% |
| Profit (loss) for the period | 9904 | €17,835 | €107,219 | +€89,384 | +501% |
| Profit (loss) for the period to be appropriated | 9905 | €17,835 | €107,219 | +€89,384 | +501% |
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 18 October 2026 via checked.be.