W & S: 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.
W & S
Largest movements
- Current investments -€17,521
down €17,521 (-6.4%), from €273,390 to €255,870
- Tangible fixed assets -€15,667
down €15,667 (-3.7%), from €424,667 to €409,000
- Other debts -€28,590
down €28,590 (-7.8%), from €364,676 to €336,086
- Gross operating margin +€1,226
up €1,226 (+46.0%), from €2,667 to €3,893
- Other operating charges -€1,034
down €1,034 (-23.9%), from €4,331 to €3,297
- Financial income +€685
up €685 (+7.3%), from €9,398 to €10,083
- Financial charges -€265
down €265 (-16.8%), from €1,579 to €1,314
- Taxes -€239
down €239 (-92.8%), from €257 to €19
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 | €706,719 | €671,828 | -€34,891 | -4.9% |
| Fixed assets | 21/28 | €424,667 | €409,000 | -€15,667 | -3.7% |
| Tangible fixed assets | 22/27 | €424,667 | €409,000 | -€15,667 | -3.7% |
| Land and buildings | 22 | €424,667 | €409,000 | -€15,667 | -3.7% |
| Current assets | 29/58 | €282,052 | €262,828 | -€19,224 | -6.8% |
| Current investments | 50/53 | €273,390 | €255,870 | -€17,521 | -6.4% |
| Cash at bank and in hand | 54/58 | €7,831 | €6,814 | -€1,017 | -13.0% |
| Deferred charges and accrued income | 490/1 | €831 | €144 | -€687 | -82.6% |
| Total equity and liabilities | 10/49 | €706,719 | €671,828 | -€34,891 | -4.9% |
| Equity | 10/15 | €341,783 | €335,464 | -€6,319 | -1.8% |
| Contributions | 10/11 | €26,208 | €26,208 | = | 0.0% |
| Reserves | 13 | €315,575 | €309,256 | -€6,319 | -2.0% |
| Distributable reserves | 133 | €315,575 | €309,256 | -€6,319 | -2.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €364,936 | €336,364 | -€28,572 | -7.8% |
| Amounts payable within one year | 42/48 | €364,936 | €336,364 | -€28,572 | -7.8% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €260 | €279 | +€19 | +7.1% |
| Taxes | 450/3 | €260 | €279 | +€19 | +7.1% |
| Other amounts payable | 47/48 | €364,676 | €336,086 | -€28,590 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,667 | €15,667 | = | 0.0% |
| Other operating charges | 640/8 | €4,331 | €3,297 | -€1,034 | -23.9% |
| Gross operating margin | 9900 | €2,667 | €3,893 | +€1,226 | +46.0% |
| Operating profit (loss) | 9901 | -€17,330 | -€15,070 | +€2,260 | +13.0% |
| Financial income | 75/76B | €9,398 | €10,083 | +€685 | +7.3% |
| Recurring financial income | 75 | €9,398 | €10,083 | +€685 | +7.3% |
| Financial charges | 65/66B | €1,579 | €1,314 | -€265 | -16.8% |
| Recurring financial charges | 65 | €1,579 | €1,314 | -€265 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | -€9,511 | -€6,301 | +€3,210 | +33.8% |
| Income taxes | 67/77 | €257 | €19 | -€239 | -92.8% |
| Profit (loss) for the period | 9904 | -€9,769 | -€6,319 | +€3,449 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,769 | -€6,319 | +€3,449 | +35.3% |
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 7 October 2026 via checked.be.