W & H: 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 & H
Largest movements
- Cash +€54,667
up €54,667 (+27.5%), from €199,050 to €253,717
mainly Net result for the year (+€132,243) and Stocks and contracts (+€43,998)
- Stocks and contracts -€43,998
down €43,998 (-21.6%), from €203,891 to €159,892
- Tangible fixed assets -€20,866
down €20,866 (-35.1%), from €59,456 to €38,590
of which Furniture and vehicles: -€16,781
- Receivables within one year -€20,293
down €20,293 (-6.0%), from €337,248 to €316,955
of which Other amounts receivable: -€17,373
- Trade debts -€17,449
down €17,449 (-6.2%), from €281,736 to €264,287
- Debts after one year -€12,208
down €12,208 (-53.6%), from €22,760 to €10,552
- Staff costs -€96,357
down €96,357 (-32.3%), from €297,940 to €201,583
- Gross operating margin -€53,692
down €53,692 (-11.6%), from €461,983 to €408,290
- Financial income -€24,303
down €24,303 (-95.2%), from €25,537 to €1,234
- Financial charges +€7,041
up €7,041, from -€3,295 to €3,746
- Taxes +€4,743
up €4,743 (+12.0%), from €39,403 to €44,146
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 | €820,275 | €784,966 | -€35,309 | -4.3% |
| Fixed assets | 21/28 | €59,779 | €38,913 | -€20,866 | -34.9% |
| Tangible fixed assets | 22/27 | €59,456 | €38,590 | -€20,866 | -35.1% |
| Plant, machinery and equipment | 23 | €6,671 | €2,587 | -€4,085 | -61.2% |
| Furniture and vehicles | 24 | €52,785 | €36,003 | -€16,781 | -31.8% |
| Financial fixed assets | 28 | €323 | €323 | = | 0.0% |
| Current assets | 29/58 | €760,497 | €746,054 | -€14,443 | -1.9% |
| Stocks and contracts in progress | 3 | €203,891 | €159,892 | -€43,998 | -21.6% |
| Stocks | 30/36 | €203,891 | €159,892 | -€43,998 | -21.6% |
| Amounts receivable within one year | 40/41 | €337,248 | €316,955 | -€20,293 | -6.0% |
| Trade receivables | 40 | €302,609 | €299,689 | -€2,920 | -1.0% |
| Other amounts receivable | 41 | €34,639 | €17,266 | -€17,373 | -50.2% |
| Current investments | 50/53 | €9,236 | €9,236 | +€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €199,050 | €253,717 | +€54,667 | +27.5% |
| Deferred charges and accrued income | 490/1 | €11,071 | €6,253 | -€4,819 | -43.5% |
| Total equity and liabilities | 10/49 | €820,275 | €784,966 | -€35,309 | -4.3% |
| Equity | 10/15 | €331,939 | €331,939 | = | 0.0% |
| Contributions | 10/11 | €83,044 | €83,044 | = | 0.0% |
| Capital | 10 | €83,044 | €83,044 | = | 0.0% |
| Issued capital | 100 | €83,044 | €83,044 | = | 0.0% |
| Reserves | 13 | €248,895 | €248,895 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,304 | €8,304 | = | 0.0% |
| Legal reserve | 130 | €8,304 | €8,304 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,732 | €21,732 | = | 0.0% |
| Distributable reserves | 133 | €218,858 | €218,858 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €488,336 | €453,027 | -€35,309 | -7.2% |
| Amounts payable after more than one year | 17 | €22,760 | €10,552 | -€12,208 | -53.6% |
| Financial debts | 170/4 | €22,760 | €10,552 | -€12,208 | -53.6% |
| Amounts payable within one year | 42/48 | €465,576 | €442,475 | -€23,101 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €11,730 | €12,208 | +€478 | +4.1% |
| Trade debts | 44 | €281,736 | €264,287 | -€17,449 | -6.2% |
| Suppliers | 440/4 | €281,736 | €264,287 | -€17,449 | -6.2% |
| Taxes, remuneration and social security | 45 | €18,791 | €17,467 | -€1,324 | -7.0% |
| Taxes | 450/3 | €746 | €1,190 | +€444 | +59.5% |
| Remuneration and social security | 454/9 | €18,045 | €16,277 | -€1,768 | -9.8% |
| Other amounts payable | 47/48 | €153,319 | €148,513 | -€4,806 | -3.1% |
| Non-recurring operating income | 76A | - | €1,074 | +€1,074 | |
| Remuneration, social security and pensions | 62 | €297,940 | €201,583 | -€96,357 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,233 | €20,866 | -€367 | -1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,060 | €0 | -€1,060 | -100% |
| Other operating charges | 640/8 | €6,429 | €6,940 | +€511 | +7.9% |
| Gross operating margin | 9900 | €461,983 | €408,290 | -€53,692 | -11.6% |
| Operating profit (loss) | 9901 | €135,321 | €178,902 | +€43,581 | +32.2% |
| Financial income | 75/76B | €25,537 | €1,234 | -€24,303 | -95.2% |
| Recurring financial income | 75 | €25,537 | €1,234 | -€24,303 | -95.2% |
| Financial charges | 65/66B | -€3,295 | €3,746 | +€7,041 | |
| Recurring financial charges | 65 | -€3,295 | €3,746 | +€7,041 | |
| Profit (loss) for the period before taxes | 9903 | €164,152 | €176,390 | +€12,237 | +7.5% |
| Income taxes | 67/77 | €39,403 | €44,146 | +€4,743 | +12.0% |
| Profit (loss) for the period | 9904 | €124,749 | €132,243 | +€7,494 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €124,749 | €132,243 | +€7,494 | +6.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.