W-Projects: 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-Projects
Largest movements
- Receivables within one year -€85,254
down €85,254 (-26.6%), from €320,448 to €235,195
of which Other amounts receivable: -€51,484
- Cash +€16,875
up €16,875 (+237%), from €7,118 to €23,993
mainly Receivables within one year (+€85,254) and Depreciation (+€3,040)
- Trade debts -€38,418
down €38,418 (-61.8%), from €62,154 to €23,736
- Profit (loss) carried forward -€31,991
down €31,991 (-168%), from -€19,013 to -€51,004
- Gross operating margin -€67,909
down €67,909, from €32,983 to -€34,925
- Depreciation -€16,758
down €16,758 (-84.6%), from €19,799 to €3,040
- Financial income +€4,873
up €4,873 (+110%), from €4,419 to €9,292
- Financial charges -€3,308
down €3,308 (-99.8%), from €3,316 to €8
- Taxes -€3,067
down €3,067 (-100%), from €3,067 to €0
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 | €372,523 | €301,130 | -€71,393 | -19.2% |
| Fixed assets | 21/28 | €3,040 | €0 | -€3,040 | -100% |
| Tangible fixed assets | 22/27 | €3,040 | €0 | -€3,040 | -100% |
| Furniture and vehicles | 24 | €3,040 | €0 | -€3,040 | -100% |
| Current assets | 29/58 | €369,482 | €301,130 | -€68,353 | -18.5% |
| Stocks and contracts in progress | 3 | €30,339 | €30,339 | = | 0.0% |
| Stocks | 30/36 | €30,339 | €30,339 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €320,448 | €235,195 | -€85,254 | -26.6% |
| Trade receivables | 40 | €63,116 | €29,346 | -€33,769 | -53.5% |
| Other amounts receivable | 41 | €257,333 | €205,848 | -€51,484 | -20.0% |
| Cash at bank and in hand | 54/58 | €7,118 | €23,993 | +€16,875 | +237% |
| Deferred charges and accrued income | 490/1 | €11,577 | €11,603 | +€26 | +0.2% |
| Total equity and liabilities | 10/49 | €372,523 | €301,130 | -€71,393 | -19.2% |
| Equity | 10/15 | €307,287 | €275,296 | -€31,991 | -10.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €313,899 | €313,899 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €252,600 | €252,600 | = | 0.0% |
| Distributable reserves | 133 | €59,440 | €59,440 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,013 | -€51,004 | -€31,991 | -168% |
| Amounts payable | 17/49 | €65,236 | €25,834 | -€39,402 | -60.4% |
| Amounts payable within one year | 42/48 | €65,236 | €25,834 | -€39,402 | -60.4% |
| Trade debts | 44 | €62,154 | €23,736 | -€38,418 | -61.8% |
| Suppliers | 440/4 | €62,154 | €23,736 | -€38,418 | -61.8% |
| Taxes, remuneration and social security | 45 | €2,082 | €2,099 | +€16 | +0.8% |
| Taxes | 450/3 | €2,082 | €2,099 | +€16 | +0.8% |
| Other amounts payable | 47/48 | €1,000 | €0 | -€1,000 | -100% |
| Non-recurring operating income | 76A | €351 | €0 | -€351 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,799 | €3,040 | -€16,758 | -84.6% |
| Other operating charges | 640/8 | €2,492 | €2,565 | +€74 | +3.0% |
| Non-recurring operating charges | 66A | - | €744 | +€744 | |
| Gross operating margin | 9900 | €32,983 | -€34,925 | -€67,909 | |
| Operating profit (loss) | 9901 | €10,693 | -€41,275 | -€51,968 | |
| Financial income | 75/76B | €4,419 | €9,292 | +€4,873 | +110% |
| Recurring financial income | 75 | €4,419 | €9,292 | +€4,873 | +110% |
| Financial charges | 65/66B | €3,316 | €8 | -€3,308 | -99.8% |
| Recurring financial charges | 65 | €3,316 | €8 | -€3,308 | -99.8% |
| Profit (loss) for the period before taxes | 9903 | €11,796 | -€31,991 | -€43,787 | |
| Income taxes | 67/77 | €3,067 | €0 | -€3,067 | -100% |
| Profit (loss) for the period | 9904 | €8,729 | -€31,991 | -€40,720 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €8,729 | -€31,991 | -€40,720 |
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 14 October 2026 via checked.be.