W.L. MANAGEMENT: what changed
What changed
W.L. MANAGEMENT
NACE 52.250, Logistics services
filed annual accounts (NBB)
Net result for the year
€47,416
2024 · €38,609+€8,806
Equity
€114,649
2024 · €67,234+€47,416
Cash
€115,741
2024 · €76,815+€38,926
Balance sheet total
€1.6m
2024 · €1.7m-€58,957
Largest movements
Assets
- Tangible fixed assets -€80,019
down €80,019 (-5.4%), from €1.5m to €1.4m
of which Land and buildings: -€49,941
- Cash +€38,926
up €38,926 (+50.7%), from €76,815 to €115,741
mainly Advances received (+€210,000) and Depreciation (+€100,691)
Equity and liabilities
- Advances received +€210,000
up €210,000, from €0 to €210,000
- Trade debts -€153,494
down €153,494 (-73.9%), from €207,697 to €54,203
- Debts after one year -€85,315
down €85,315 (-8.1%), from €1.1m to €965,566
- Tax, wage and social debts -€72,153
down €72,153 (-27.4%), from €263,750 to €191,597
of which Taxes: -€65,368
- Profit (loss) carried forward +€47,416
up €47,416, from -€32,766 to €14,649
Income statement
- Gross operating margin +€72,375
up €72,375 (+3.7%), from €2.0m to €2.0m
- Staff costs +€53,512
up €53,512 (+3.1%), from €1.7m to €1.8m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€38,609
Gross operating margin
+€72,375
Staff costs
-€53,512
Depreciation
-€5,169
Other operating charges
+€847
Other operating items
-€11,266
Financial income
-€359
Financial charges
+€1,995
Taxes
+€3,895
Result 2025
€47,416
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€147,377
Investment
-€20,722
Financing
-€87,729
Cash 2024
€76,815
From operations (derived)
+€147,377
Net result for the year
+€47,416
Depreciation
+€100,691
Receivables within one year
+€13,237
Deferred charges and accrued income
+€4,677
Trade debts
-€153,494
Tax, wage and social debts
-€72,153
Advances received
+€210,000
Accrued charges and deferred income
-€2,996
Investment (derived)
-€20,722
Investment in fixed assets (net)
-€20,722
Financing
-€87,729
Debts after one year
-€85,315
Current portion of long-term debt
-€2,414
Cash 2025
€115,741
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,696,547 | €1,637,591 | -€58,957 | -3.5% |
| Fixed assets | 21/28 | €1,497,267 | €1,417,298 | -€79,969 | -5.3% |
| Tangible fixed assets | 22/27 | €1,487,742 | €1,407,723 | -€80,019 | -5.4% |
| Land and buildings | 22 | €1,307,315 | €1,257,374 | -€49,941 | -3.8% |
| Plant, machinery and equipment | 23 | €1,851 | €824 | -€1,027 | -55.5% |
| Furniture and vehicles | 24 | €178,576 | €149,525 | -€29,050 | -16.3% |
| Financial fixed assets | 28 | €9,525 | €9,575 | +€50 | +0.5% |
| Current assets | 29/58 | €199,280 | €220,292 | +€21,012 | +10.5% |
| Amounts receivable within one year | 40/41 | €96,019 | €82,782 | -€13,237 | -13.8% |
| Trade receivables | 40 | €78,105 | €3,506 | -€74,599 | -95.5% |
| Other amounts receivable | 41 | €17,914 | €79,277 | +€61,363 | +343% |
| Cash at bank and in hand | 54/58 | €76,815 | €115,741 | +€38,926 | +50.7% |
| Deferred charges and accrued income | 490/1 | €26,446 | €21,769 | -€4,677 | -17.7% |
| Total equity and liabilities | 10/49 | €1,696,547 | €1,637,591 | -€58,957 | -3.5% |
| Equity | 10/15 | €67,234 | €114,649 | +€47,416 | +70.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,766 | €14,649 | +€47,416 | |
| Amounts payable | 17/49 | €1,629,313 | €1,522,941 | -€106,372 | -6.5% |
| Amounts payable after more than one year | 17 | €1,050,881 | €965,566 | -€85,315 | -8.1% |
| Financial debts | 170/4 | €1,050,881 | €965,566 | -€85,315 | -8.1% |
| Amounts payable within one year | 42/48 | €559,176 | €541,114 | -€18,062 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €87,729 | €85,315 | -€2,414 | -2.8% |
| Trade debts | 44 | €207,697 | €54,203 | -€153,494 | -73.9% |
| Suppliers | 440/4 | €207,697 | €54,203 | -€153,494 | -73.9% |
| Advances received on contracts in progress | 46 | €0 | €210,000 | +€210,000 | |
| Taxes, remuneration and social security | 45 | €263,750 | €191,597 | -€72,153 | -27.4% |
| Taxes | 450/3 | €68,510 | €3,142 | -€65,368 | -95.4% |
| Remuneration and social security | 454/9 | €195,240 | €188,455 | -€6,785 | -3.5% |
| Accrued charges and deferred income | 492/3 | €19,257 | €16,261 | -€2,996 | -15.6% |
| Remuneration, social security and pensions | 62 | €1,714,697 | €1,768,209 | +€53,512 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,522 | €100,691 | +€5,169 | +5.4% |
| Other operating charges | 640/8 | €14,593 | €13,746 | -€847 | -5.8% |
| Non-recurring operating charges | 66A | €0 | €11,266 | +€11,266 | |
| Gross operating margin | 9900 | €1,963,192 | €2,035,568 | +€72,375 | +3.7% |
| Operating profit (loss) | 9901 | €138,381 | €141,655 | +€3,275 | +2.4% |
| Financial income | 75/76B | €568 | €209 | -€359 | -63.1% |
| Recurring financial income | 75 | €568 | €209 | -€359 | -63.1% |
| Financial charges | 65/66B | €35,026 | €33,031 | -€1,995 | -5.7% |
| Recurring financial charges | 65 | €35,026 | €33,031 | -€1,995 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €103,922 | €108,834 | +€4,911 | +4.7% |
| Income taxes | 67/77 | €65,313 | €61,418 | -€3,895 | -6.0% |
| Profit (loss) for the period | 9904 | €38,609 | €47,416 | +€8,806 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,609 | €47,416 | +€8,806 | +22.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.