W.N.D.: what changed
Two fiscal 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.N.D.
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€26,599
2024 · €9,824+€16,775
Equity
€1.1m
2024 · €1.1m+€26,599
Cash
€26,431
2024 · €15,785+€10,646
Balance sheet total
€1.1m
2024 · €1.1m+€7,238
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Profit (loss) carried forward +€26,599
up €26,599 (+27.4%), from -€96,928 to -€70,330
Income statement
- Gross operating margin +€18,603
up €18,603 (+53.5%), from €34,767 to €53,370
- Other operating charges +€2,454
up €2,454 (+36.1%), from €6,808 to €9,262
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
€9,824
Gross operating margin
+€18,603
Depreciation
+€259
Other operating charges
-€2,454
Financial income
+€96
Financial charges
+€96
Taxes
+€174
Result 2025
€26,599
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.
From operations
+€35,414
Investment
-€11,108
Financing
-€13,660
Cash 2024
€15,785
From operations (derived)
+€35,414
Net result for the year
+€26,599
Depreciation
+€15,786
Receivables within one year
-€4,078
Deferred charges and accrued income
+€2,809
Trade debts
-€4,097
Tax, wage and social debts
-€797
Other debts
+€1,087
Accrued charges and deferred income
-€1,894
Investment (derived)
-€11,108
Investment in fixed assets (net)
-€11,108
Financing
-€13,660
Debts after one year
-€3,591
Current portion of long-term debt
-€10,069
Cash 2025
€26,431
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,107,204 | €1,114,441 | +€7,238 | +0.7% |
| Fixed assets | 21/28 | €1,079,710 | €1,075,033 | -€4,677 | -0.4% |
| Tangible fixed assets | 22/27 | €1,079,710 | €1,075,033 | -€4,677 | -0.4% |
| Land and buildings | 22 | €1,072,039 | €1,069,227 | -€2,812 | -0.3% |
| Plant, machinery and equipment | 23 | €4,269 | €3,432 | -€837 | -19.6% |
| Furniture and vehicles | 24 | €3,402 | €2,374 | -€1,028 | -30.2% |
| Current assets | 29/58 | €27,494 | €39,409 | +€11,915 | +43.3% |
| Amounts receivable within one year | 40/41 | €8,365 | €12,442 | +€4,078 | +48.7% |
| Trade receivables | 40 | €8,365 | €12,442 | +€4,078 | +48.7% |
| Cash at bank and in hand | 54/58 | €15,785 | €26,431 | +€10,646 | +67.4% |
| Deferred charges and accrued income | 490/1 | €3,344 | €536 | -€2,809 | -84.0% |
| Total equity and liabilities | 10/49 | €1,107,204 | €1,114,441 | +€7,238 | +0.7% |
| Equity | 10/15 | €1,061,051 | €1,087,649 | +€26,599 | +2.5% |
| Contributions | 10/11 | €662,000 | €662,000 | = | 0.0% |
| Revaluation surpluses | 12 | €495,979 | €495,979 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,928 | -€70,330 | +€26,599 | +27.4% |
| Amounts payable | 17/49 | €46,153 | €26,792 | -€19,361 | -41.9% |
| Amounts payable after more than one year | 17 | €7,122 | €3,531 | -€3,591 | -50.4% |
| Financial debts | 170/4 | €7,032 | €3,441 | -€3,591 | -51.1% |
| Other amounts payable | 178/9 | €90 | €90 | = | 0.0% |
| Amounts payable within one year | 42/48 | €37,136 | €23,261 | -€13,876 | -37.4% |
| Current portion of amounts payable after more than one year | 42 | €13,660 | €3,591 | -€10,069 | -73.7% |
| Trade debts | 44 | €8,532 | €4,434 | -€4,097 | -48.0% |
| Suppliers | 440/4 | €8,532 | €4,434 | -€4,097 | -48.0% |
| Taxes, remuneration and social security | 45 | €2,232 | €1,435 | -€797 | -35.7% |
| Taxes | 450/3 | €2,232 | €1,435 | -€797 | -35.7% |
| Other amounts payable | 47/48 | €12,713 | €13,800 | +€1,087 | +8.6% |
| Accrued charges and deferred income | 492/3 | €1,894 | - | -€1,894 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,045 | €15,786 | -€259 | -1.6% |
| Other operating charges | 640/8 | €6,808 | €9,262 | +€2,454 | +36.1% |
| Gross operating margin | 9900 | €34,767 | €53,370 | +€18,603 | +53.5% |
| Operating profit (loss) | 9901 | €11,915 | €28,323 | +€16,408 | +137.7% |
| Financial income | 75/76B | €0 | €96 | +€96 | +87527.3% |
| Recurring financial income | 75 | €0 | €96 | +€96 | +87527.3% |
| Financial charges | 65/66B | €1,917 | €1,820 | -€96 | -5.0% |
| Recurring financial charges | 65 | €1,917 | €1,820 | -€96 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €9,998 | €26,599 | +€16,601 | +166.0% |
| Income taxes | 67/77 | €174 | - | -€174 | |
| Profit (loss) for the period | 9904 | €9,824 | €26,599 | +€16,775 | +170.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,824 | €26,599 | +€16,775 | +170.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.