W.M.C.: 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.M.C.
Largest movements
- Cash +€108,813
up €108,813 (+71.9%), from €151,329 to €260,141
mainly Net result for the year (+€88,370) and Current investments (+€23,670)
- Current investments -€23,670
no longer reported in 2025 (was €23,670)
- Receivables within one year -€9,828
down €9,828 (-25.1%), from €39,114 to €29,286
of which Trade receivables: -€10,374
- Receivables after one year -€5,795
down €5,795 (-21.4%), from €27,018 to €21,224
- Reserves +€55,370
up €55,370 (+32.8%), from €168,923 to €224,293
- Other debts +€18,734
up €18,734 (+110.6%), from €16,939 to €35,673
- Current portion of long-term debt -€12,518
down €12,518 (-56.1%), from €22,316 to €9,798
- Tax, wage and social debts +€7,454
up €7,454 (+29.8%), from €25,004 to €32,458
of which Taxes: +€8,454
- Depreciation -€24,879
no longer reported in 2025 (was €24,879)
- Gross operating margin +€19,190
up €19,190 (+14.7%), from €130,124 to €149,314
- Taxes +€14,755
up €14,755 (+47.7%), from €30,903 to €45,657
- Other operating charges +€10,767
up €10,767 (+305.8%), from €3,520 to €14,287
- Financial charges -€2,411
down €2,411 (-60.3%), from €3,996 to €1,585
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 | €245,528 | €313,296 | +€67,767 | +27.6% |
| Current assets | 29/58 | €245,528 | €313,296 | +€67,767 | +27.6% |
| Amounts receivable after more than one year | 29 | €27,018 | €21,224 | -€5,795 | -21.4% |
| Other amounts receivable | 291 | €27,018 | €21,224 | -€5,795 | -21.4% |
| Amounts receivable within one year | 40/41 | €39,114 | €29,286 | -€9,828 | -25.1% |
| Trade receivables | 40 | €39,114 | €28,739 | -€10,374 | -26.5% |
| Other amounts receivable | 41 | - | €546 | +€546 | |
| Current investments | 50/53 | €23,670 | - | -€23,670 | |
| Cash at bank and in hand | 54/58 | €151,329 | €260,141 | +€108,813 | +71.9% |
| Deferred charges and accrued income | 490/1 | €4,397 | €2,645 | -€1,752 | -39.9% |
| Total equity and liabilities | 10/49 | €245,528 | €313,296 | +€67,767 | +27.6% |
| Equity | 10/15 | €168,923 | €224,293 | +€55,370 | +32.8% |
| Reserves | 13 | €168,923 | €224,293 | +€55,370 | +32.8% |
| Distributable reserves | 133 | €168,923 | €224,293 | +€55,370 | +32.8% |
| Amounts payable | 17/49 | €76,605 | €89,003 | +€12,397 | +16.2% |
| Amounts payable within one year | 42/48 | €76,605 | €89,003 | +€12,397 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €22,316 | €9,798 | -€12,518 | -56.1% |
| Trade debts | 44 | €12,347 | €11,074 | -€1,273 | -10.3% |
| Suppliers | 440/4 | €12,347 | €11,074 | -€1,273 | -10.3% |
| Taxes, remuneration and social security | 45 | €25,004 | €32,458 | +€7,454 | +29.8% |
| Taxes | 450/3 | €24,004 | €32,458 | +€8,454 | +35.2% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €16,939 | €35,673 | +€18,734 | +110.6% |
| Non-recurring operating income | 76A | €14,500 | - | -€14,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,879 | - | -€24,879 | |
| Other operating charges | 640/8 | €3,520 | €14,287 | +€10,767 | +305.8% |
| Non-recurring operating charges | 66A | €11,212 | - | -€11,212 | |
| Gross operating margin | 9900 | €130,124 | €149,314 | +€19,190 | +14.7% |
| Operating profit (loss) | 9901 | €90,513 | €135,027 | +€44,514 | +49.2% |
| Financial income | 75/76B | €69 | €586 | +€516 | +743.7% |
| Recurring financial income | 75 | €69 | €586 | +€516 | +743.7% |
| Financial charges | 65/66B | €3,996 | €1,585 | -€2,411 | -60.3% |
| Recurring financial charges | 65 | €3,996 | €1,585 | -€2,411 | -60.3% |
| Profit (loss) for the period before taxes | 9903 | €86,587 | €134,027 | +€47,441 | +54.8% |
| Income taxes | 67/77 | €30,903 | €45,657 | +€14,755 | +47.7% |
| Profit (loss) for the period | 9904 | €55,684 | €88,370 | +€32,686 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €55,684 | €88,370 | +€32,686 | +58.7% |
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.