W&N: 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&N
Largest movements
- Cash +€22,180
up €22,180 (+507%), from €4,378 to €26,558
mainly Net result for the year (+€15,957) and Depreciation (+€14,002)
- Tangible fixed assets -€14,002
down €14,002 (-23.6%), from €59,345 to €45,344
of which Leasing and similar rights: -€7,268
- Receivables within one year -€5,270
down €5,270 (-58.1%), from €9,070 to €3,799
of which Trade receivables: -€6,448
- Deferred charges and accrued income -€776
down €776 (-87.6%), from €886 to €110
- Profit (loss) carried forward +€15,957
up €15,957 (+279%), from €5,712 to €21,669
- Debts after one year -€6,716
down €6,716 (-23.7%), from €28,382 to €21,666
- Trade debts -€3,696
down €3,696 (-42.7%), from €8,649 to €4,952
- Other debts -€1,565
no longer reported in 2025 (was €1,565)
- Tax, wage and social debts -€1,038
down €1,038 (-13.2%), from €7,886 to €6,848
- Gross operating margin +€24,860
up €24,860 (+150%), from €16,561 to €41,421
- Depreciation +€7,856
up €7,856 (+128%), from €6,145 to €14,002
- Taxes +€3,487
up €3,487 (+104%), from €3,362 to €6,848
- Other operating charges +€1,946
up €1,946 (+261%), from €747 to €2,693
- Financial charges +€1,325
up €1,325 (+223%), from €595 to €1,921
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 | €73,679 | €75,811 | +€2,131 | +2.9% |
| Fixed assets | 21/28 | €59,345 | €45,344 | -€14,002 | -23.6% |
| Tangible fixed assets | 22/27 | €59,345 | €45,344 | -€14,002 | -23.6% |
| Plant, machinery and equipment | 23 | €3,830 | €2,361 | -€1,470 | -38.4% |
| Furniture and vehicles | 24 | €20,730 | €15,466 | -€5,264 | -25.4% |
| Leasing and similar rights | 25 | €34,785 | €27,517 | -€7,268 | -20.9% |
| Current assets | 29/58 | €14,334 | €30,467 | +€16,133 | +113% |
| Amounts receivable within one year | 40/41 | €9,070 | €3,799 | -€5,270 | -58.1% |
| Trade receivables | 40 | €6,448 | - | -€6,448 | |
| Other amounts receivable | 41 | €2,622 | €3,799 | +€1,177 | +44.9% |
| Cash at bank and in hand | 54/58 | €4,378 | €26,558 | +€22,180 | +507% |
| Deferred charges and accrued income | 490/1 | €886 | €110 | -€776 | -87.6% |
| Total equity and liabilities | 10/49 | €73,679 | €75,811 | +€2,131 | +2.9% |
| Equity | 10/15 | €20,795 | €36,752 | +€15,957 | +76.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €12,083 | €12,083 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,083 | - | -€12,083 | |
| Reserves not available under the articles | 1311 | €12,083 | - | -€12,083 | |
| Distributable reserves | 133 | - | €12,083 | +€12,083 | |
| Profit (loss) carried forward | 14 | €5,712 | €21,669 | +€15,957 | +279% |
| Amounts payable | 17/49 | €52,884 | €39,059 | -€13,826 | -26.1% |
| Amounts payable after more than one year | 17 | €28,382 | €21,666 | -€6,716 | -23.7% |
| Financial debts | 170/4 | €28,382 | €21,666 | -€6,716 | -23.7% |
| Amounts payable within one year | 42/48 | €24,503 | €17,393 | -€7,110 | -29.0% |
| Current portion of amounts payable after more than one year | 42 | €6,403 | €5,592 | -€811 | -12.7% |
| Trade debts | 44 | €8,649 | €4,952 | -€3,696 | -42.7% |
| Suppliers | 440/4 | €8,649 | €4,952 | -€3,696 | -42.7% |
| Taxes, remuneration and social security | 45 | €7,886 | €6,848 | -€1,038 | -13.2% |
| Taxes | 450/3 | €7,886 | €6,848 | -€1,038 | -13.2% |
| Other amounts payable | 47/48 | €1,565 | - | -€1,565 | |
| Non-recurring operating income | 76A | €992 | - | -€992 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,145 | €14,002 | +€7,856 | +128% |
| Other operating charges | 640/8 | €747 | €2,693 | +€1,946 | +261% |
| Gross operating margin | 9900 | €16,561 | €41,421 | +€24,860 | +150% |
| Operating profit (loss) | 9901 | €9,669 | €24,726 | +€15,058 | +156% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €595 | €1,921 | +€1,325 | +223% |
| Recurring financial charges | 65 | €595 | €1,921 | +€1,325 | +223% |
| Profit (loss) for the period before taxes | 9903 | €9,073 | €22,806 | +€13,732 | +151% |
| Income taxes | 67/77 | €3,362 | €6,848 | +€3,487 | +104% |
| Profit (loss) for the period | 9904 | €5,712 | €15,957 | +€10,246 | +179% |
| Profit (loss) for the period to be appropriated | 9905 | €5,712 | €15,957 | +€10,246 | +179% |
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 17 October 2026 via checked.be.