W L K: 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.
What changed
W L K
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€245,553
2024 · €43,414+€202,138
Equity
€4.5m
2024 · €4.7m-€154,447
Cash
€78,967
2024 · €30,335+€48,631
Balance sheet total
€5.8m
2024 · €6.8m-€1.0m
Largest movements
Assets
- Tangible fixed assets -€999,499
down €999,499 (-15.3%), from €6.6m to €5.6m
of which Land and buildings: -€1.0m
- Receivables within one year -€181,811
down €181,811 (-97.7%), from €186,184 to €4,373
of which Other amounts receivable: -€126,328
- Receivables after one year +€123,500
new in 2025: €123,500
Equity and liabilities
- Short-term financial debts -€626,676
down €626,676 (-100%), from €626,676 to €0
- Debts after one year -€168,918
down €168,918 (-16.6%), from €1.0m to €847,013
- Reserves -€154,447
down €154,447 (-4.2%), from €3.7m to €3.5m
of which Distributable reserves: -€134,432
Income statement
- Gross operating margin +€234,091
up €234,091 (+64.9%), from €360,459 to €594,550
- Taxes +€82,898
up €82,898 (+613%), from €13,515 to €96,413
- Depreciation -€35,037
down €35,037 (-15.6%), from €223,900 to €188,863
- Financial charges -€20,993
down €20,993 (-24.0%), from €87,355 to €66,362
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.
Result 2024
€43,414
Gross operating margin
+€234,091
Depreciation
+€35,037
Other operating charges
-€4,324
Financial income
-€760
Financial charges
+€20,993
Taxes
-€82,898
Result 2025
€245,553
raises the resultlowers the result
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.
From operations
+€491,243
Investment
+€810,635
Financing
-€1.3m
Cash 2024
€30,335
From operations (derived)
+€491,243
Net result for the year
+€245,553
Depreciation
+€188,863
Receivables after one year
-€123,500
Receivables within one year
+€181,811
Deferred charges and accrued income
+€5,362
Provisions
-€10,306
Trade debts
-€50,718
Tax, wage and social debts
+€21,413
Other debts
+€40,090
Accrued charges and deferred income
-€7,325
Investment (derived)
+€810,635
Investment in fixed assets (net)
+€810,635
Financing
-€1.3m
Debts after one year
-€168,918
Current portion of long-term debt
-€57,652
Short-term financial debts
-€626,676
Contributions, distributions and other
-€400,000
Cash 2025
€78,967
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,775,206 | €5,760,665 | -€1.0m | -15.0% |
| Fixed assets | 21/28 | €6,550,392 | €5,550,893 | -€999,499 | -15.3% |
| Tangible fixed assets | 22/27 | €6,550,392 | €5,550,893 | -€999,499 | -15.3% |
| Land and buildings | 22 | €6,544,682 | €5,520,129 | -€1.0m | -15.7% |
| Plant, machinery and equipment | 23 | €5,202 | €18,841 | +€13,639 | +262% |
| Furniture and vehicles | 24 | €508 | €11,923 | +€11,415 | +2,245% |
| Current assets | 29/58 | €224,814 | €209,772 | -€15,042 | -6.7% |
| Amounts receivable after more than one year | 29 | - | €123,500 | +€123,500 | |
| Other amounts receivable | 291 | - | €123,500 | +€123,500 | |
| Amounts receivable within one year | 40/41 | €186,184 | €4,373 | -€181,811 | -97.7% |
| Trade receivables | 40 | €59,856 | €4,373 | -€55,483 | -92.7% |
| Other amounts receivable | 41 | €126,328 | €0 | -€126,328 | -100% |
| Cash at bank and in hand | 54/58 | €30,335 | €78,967 | +€48,631 | +160% |
| Deferred charges and accrued income | 490/1 | €8,295 | €2,933 | -€5,362 | -64.6% |
| Total equity and liabilities | 10/49 | €6,775,206 | €5,760,665 | -€1.0m | -15.0% |
| Equity | 10/15 | €4,657,383 | €4,502,936 | -€154,447 | -3.3% |
| Contributions | 10/11 | €461,153 | €461,153 | = | 0.0% |
| Revaluation surpluses | 12 | €511,034 | €511,034 | = | 0.0% |
| Reserves | 13 | €3,685,196 | €3,530,749 | -€154,447 | -4.2% |
| Tax-exempt reserves | 132 | €260,198 | €240,183 | -€20,015 | -7.7% |
| Distributable reserves | 133 | €3,424,998 | €3,290,566 | -€134,432 | -3.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €133,329 | €123,023 | -€10,306 | -7.7% |
| Deferred taxes | 168 | €133,329 | €123,023 | -€10,306 | -7.7% |
| Amounts payable | 17/49 | €1,984,493 | €1,134,706 | -€849,787 | -42.8% |
| Amounts payable after more than one year | 17 | €1,015,932 | €847,013 | -€168,918 | -16.6% |
| Financial debts | 170/4 | €1,015,932 | €847,013 | -€168,918 | -16.6% |
| Amounts payable within one year | 42/48 | €950,252 | €276,708 | -€673,544 | -70.9% |
| Current portion of amounts payable after more than one year | 42 | €175,738 | €118,085 | -€57,652 | -32.8% |
| Financial debts | 43 | €626,676 | €0 | -€626,676 | -100% |
| Credit institutions | 430/8 | €626,676 | €0 | -€626,676 | -100% |
| Trade debts | 44 | €119,323 | €68,605 | -€50,718 | -42.5% |
| Suppliers | 440/4 | €119,323 | €68,605 | -€50,718 | -42.5% |
| Taxes, remuneration and social security | 45 | €13,515 | €34,928 | +€21,413 | +158% |
| Taxes | 450/3 | €13,515 | €34,928 | +€21,413 | +158% |
| Other amounts payable | 47/48 | €15,000 | €55,090 | +€40,090 | +267% |
| Accrued charges and deferred income | 492/3 | €18,309 | €10,985 | -€7,325 | -40.0% |
| Non-recurring operating income | 76A | €196,654 | €579,888 | +€383,235 | +195% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €223,900 | €188,863 | -€35,037 | -15.6% |
| Other operating charges | 640/8 | €4,312 | €8,636 | +€4,324 | +100% |
| Gross operating margin | 9900 | €360,459 | €594,550 | +€234,091 | +64.9% |
| Operating profit (loss) | 9901 | €132,247 | €397,051 | +€264,803 | +200% |
| Financial income | 75/76B | €1,731 | €971 | -€760 | -43.9% |
| Recurring financial income | 75 | €1,731 | €971 | -€760 | -43.9% |
| Financial charges | 65/66B | €87,355 | €66,362 | -€20,993 | -24.0% |
| Recurring financial charges | 65 | €87,355 | €66,362 | -€20,993 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €46,623 | €331,659 | +€285,036 | +611% |
| Transfer from deferred taxes | 780 | €10,306 | €10,306 | -€0 | 0.0% |
| Income taxes | 67/77 | €13,515 | €96,413 | +€82,898 | +613% |
| Profit (loss) for the period | 9904 | €43,414 | €245,553 | +€202,138 | +466% |
| Transfer from tax-exempt reserves | 789 | €20,015 | €20,015 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €63,430 | €265,568 | +€202,138 | +319% |
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 28 October 2026 via checked.be.