W.S.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.S.N.
Largest movements
- Tangible fixed assets -€76,240
down €76,240 (-13.5%), from €564,238 to €487,998
of which Plant, machinery and equipment: -€58,840
- Cash +€17,307
up €17,307 (+15.1%), from €114,596 to €131,902
mainly Depreciation (+€69,632) and Other debts (+€43,011)
- Profit (loss) carried forward -€46,911
down €46,911 (-69.2%), from -€67,811 to -€114,722
- Debts after one year -€44,274
down €44,274 (-8.3%), from €534,231 to €489,957
- Other debts +€43,011
up €43,011 (+41.0%), from €104,936 to €147,947
- Trade debts -€11,362
down €11,362 (-36.2%), from €31,351 to €19,989
- Tax, wage and social debts +€8,530
up €8,530 (+40.3%), from €21,156 to €29,686
of which Taxes: +€10,467
- Gross operating margin -€41,196
down €41,196 (-15.6%), from €263,494 to €222,298
- Turnover -€36,816
down €36,816 (-9.8%), from €376,511 to €339,696
- Purchases and services +€24,569
up €24,569 (+16.2%), from €151,504 to €176,074
- Staff costs -€5,654
down €5,654 (-2.9%), from €191,965 to €186,312
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 | €686,152 | €635,785 | -€50,367 | -7.3% |
| Fixed assets | 21/28 | €564,238 | €490,137 | -€74,102 | -13.1% |
| Intangible fixed assets | 21 | - | €2,138 | +€2,138 | |
| Tangible fixed assets | 22/27 | €564,238 | €487,998 | -€76,240 | -13.5% |
| Land and buildings | 22 | €422,786 | €406,636 | -€16,149 | -3.8% |
| Plant, machinery and equipment | 23 | €137,954 | €79,114 | -€58,840 | -42.7% |
| Furniture and vehicles | 24 | €3,499 | €2,248 | -€1,251 | -35.7% |
| Current assets | 29/58 | €121,914 | €145,648 | +€23,734 | +19.5% |
| Stocks and contracts in progress | 3 | €7,046 | €7,046 | = | 0.0% |
| Stocks | 30/36 | €7,046 | €7,046 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €0 | €6,394 | +€6,394 | |
| Trade receivables | 40 | €0 | €6,394 | +€6,394 | |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €114,596 | €131,902 | +€17,307 | +15.1% |
| Deferred charges and accrued income | 490/1 | €272 | €306 | +€34 | +12.4% |
| Total equity and liabilities | 10/49 | €686,152 | €635,785 | -€50,367 | -7.3% |
| Equity | 10/15 | -€49,211 | -€96,122 | -€46,911 | -95.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,811 | -€114,722 | -€46,911 | -69.2% |
| Amounts payable | 17/49 | €735,363 | €731,907 | -€3,456 | -0.5% |
| Amounts payable after more than one year | 17 | €534,231 | €489,957 | -€44,274 | -8.3% |
| Financial debts | 170/4 | €534,231 | €489,957 | -€44,274 | -8.3% |
| Amounts payable within one year | 42/48 | €201,133 | €241,950 | +€40,818 | +20.3% |
| Current portion of amounts payable after more than one year | 42 | €43,690 | €44,274 | +€585 | +1.3% |
| Financial debts | 43 | - | €55 | +€55 | |
| Credit institutions | 430/8 | - | €55 | +€55 | |
| Trade debts | 44 | €31,351 | €19,989 | -€11,362 | -36.2% |
| Suppliers | 440/4 | €31,351 | €19,989 | -€11,362 | -36.2% |
| Taxes, remuneration and social security | 45 | €21,156 | €29,686 | +€8,530 | +40.3% |
| Taxes | 450/3 | €8,490 | €18,957 | +€10,467 | +123% |
| Remuneration and social security | 454/9 | €12,666 | €10,728 | -€1,938 | -15.3% |
| Other amounts payable | 47/48 | €104,936 | €147,947 | +€43,011 | +41.0% |
| Turnover | 70 | €376,511 | €339,696 | -€36,816 | -9.8% |
| Non-recurring operating income | 76A | €1,363 | €254 | -€1,109 | -81.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €151,504 | €176,074 | +€24,569 | +16.2% |
| Remuneration, social security and pensions | 62 | €191,965 | €186,312 | -€5,654 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,389 | €69,632 | -€2,757 | -3.8% |
| Other operating charges | 640/8 | €5,137 | €4,743 | -€394 | -7.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €263,494 | €222,298 | -€41,196 | -15.6% |
| Operating profit (loss) | 9901 | -€5,998 | -€38,388 | -€32,391 | -540% |
| Financial income | 75/76B | €1 | €0 | -€0 | -98.0% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -98.0% |
| Financial charges | 65/66B | €8,724 | €8,523 | -€201 | -2.3% |
| Recurring financial charges | 65 | €8,724 | €8,523 | -€201 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€14,721 | -€46,911 | -€32,190 | -219% |
| Profit (loss) for the period | 9904 | -€14,721 | -€46,911 | -€32,190 | -219% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,721 | -€46,911 | -€32,190 | -219% |
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 24 October 2026 via checked.be.