W.P.S.: 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.P.S.
Largest movements
- Tangible fixed assets -€58,983
down €58,983 (-4.9%), from €1.2m to €1.1m
of which Land and buildings: -€52,891
- Cash +€22,081
up €22,081 (+624%), from €3,539 to €25,620
mainly Depreciation (+€58,983) and Net result for the year (+€52,455)
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€12,062
down €12,062 (-100%), from €12,062 to €0
- Taxes -€11,231
down €11,231 (-66.6%), from €16,868 to €5,637
- Gross operating margin +€10,304
up €10,304 (+6.5%), from €159,082 to €169,386
- Financial charges +€9,800
up €9,800 (+37.4%), from €26,215 to €36,015
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 | €1,883,654 | €1,851,290 | -€32,364 | -1.7% |
| Fixed assets | 21/28 | €1,753,548 | €1,694,565 | -€58,983 | -3.4% |
| Tangible fixed assets | 22/27 | €1,198,883 | €1,139,899 | -€58,983 | -4.9% |
| Land and buildings | 22 | €1,183,170 | €1,130,279 | -€52,891 | -4.5% |
| Furniture and vehicles | 24 | €15,713 | €9,621 | -€6,092 | -38.8% |
| Financial fixed assets | 28 | €554,666 | €554,666 | = | 0.0% |
| Current assets | 29/58 | €130,106 | €156,725 | +€26,619 | +20.5% |
| Amounts receivable within one year | 40/41 | €122,442 | €128,551 | +€6,108 | +5.0% |
| Trade receivables | 40 | €121,976 | €109,976 | -€12,000 | -9.8% |
| Other amounts receivable | 41 | €467 | €18,575 | +€18,108 | +3,882% |
| Cash at bank and in hand | 54/58 | €3,539 | €25,620 | +€22,081 | +624% |
| Deferred charges and accrued income | 490/1 | €4,124 | €2,554 | -€1,571 | -38.1% |
| Total equity and liabilities | 10/49 | €1,883,654 | €1,851,290 | -€32,364 | -1.7% |
| Equity | 10/15 | €743,862 | €734,701 | -€9,160 | -1.2% |
| Contributions | 10/11 | €323,592 | €323,592 | = | 0.0% |
| Reserves | 13 | €420,270 | €411,109 | -€9,160 | -2.2% |
| Distributable reserves | 133 | €420,270 | €411,109 | -€9,160 | -2.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,139,792 | €1,116,589 | -€23,204 | -2.0% |
| Amounts payable after more than one year | 17 | €605,626 | €594,690 | -€10,935 | -1.8% |
| Financial debts | 170/4 | €605,626 | €594,690 | -€10,935 | -1.8% |
| Amounts payable within one year | 42/48 | €534,167 | €521,898 | -€12,269 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €57,237 | €63,663 | +€6,426 | +11.2% |
| Trade debts | 44 | €366,478 | €362,165 | -€4,313 | -1.2% |
| Suppliers | 440/4 | €366,478 | €362,165 | -€4,313 | -1.2% |
| Taxes, remuneration and social security | 45 | €16,746 | €10,707 | -€6,039 | -36.1% |
| Taxes | 450/3 | €16,746 | €10,707 | -€6,039 | -36.1% |
| Other amounts payable | 47/48 | €93,706 | €85,363 | -€8,342 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,930 | €58,983 | -€947 | -1.6% |
| Other operating charges | 640/8 | €16,291 | €16,296 | +€4 | 0.0% |
| Gross operating margin | 9900 | €159,082 | €169,386 | +€10,304 | +6.5% |
| Operating profit (loss) | 9901 | €82,861 | €94,107 | +€11,246 | +13.6% |
| Financial income | 75/76B | €12,062 | €0 | -€12,062 | -100% |
| Recurring financial income | 75 | €12,062 | €0 | -€12,062 | -100% |
| Financial charges | 65/66B | €26,215 | €36,015 | +€9,800 | +37.4% |
| Recurring financial charges | 65 | €26,215 | €36,015 | +€9,800 | +37.4% |
| Profit (loss) for the period before taxes | 9903 | €68,708 | €58,091 | -€10,616 | -15.5% |
| Income taxes | 67/77 | €16,868 | €5,637 | -€11,231 | -66.6% |
| Profit (loss) for the period | 9904 | €51,840 | €52,455 | +€615 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €51,840 | €52,455 | +€615 | +1.2% |
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 15 October 2026 via checked.be.