W-security: 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-security
Largest movements
- Intangible fixed assets +€64,110
new in 2025: €64,110
- Cash -€36,951
down €36,951 (-56.2%), from €65,714 to €28,763
mainly Provisions (-€65,000) and Investment in fixed assets (net) (-€65,000)
- Stocks and contracts +€7,996
up €7,996 (+49.4%), from €16,181 to €24,177
of which Stocks: +€7,108
- Receivables within one year +€6,585
up €6,585 (+38.4%), from €17,128 to €23,713
of which Trade receivables: +€5,337
- Debts after one year +€100,000
new in 2025: €100,000
- Provisions -€65,000
down €65,000 (-100%), from €65,000 to €0
- Trade debts +€3,300
up €3,300 (+50.9%), from €6,485 to €9,786
- Tax, wage and social debts +€2,514
up €2,514 (+17.0%), from €14,815 to €17,329
of which Remuneration and social security: +€1,824
- Provisions -€72,500
down €72,500, from €7,500 to -€65,000
- Other operating charges +€70,094
up €70,094 (+8,129%), from €862 to €70,956
- Staff costs +€44,735
up €44,735 (+62.7%), from €71,356 to €116,091
- Gross operating margin +€34,266
up €34,266 (+38.0%), from €90,260 to €124,527
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 | €100,559 | €142,117 | +€41,558 | +41.3% |
| Fixed assets | 21/28 | - | €64,110 | +€64,110 | |
| Intangible fixed assets | 21 | - | €64,110 | +€64,110 | |
| Current assets | 29/58 | €100,559 | €78,008 | -€22,551 | -22.4% |
| Stocks and contracts in progress | 3 | €16,181 | €24,177 | +€7,996 | +49.4% |
| Stocks | 30/36 | €13,809 | €20,917 | +€7,108 | +51.5% |
| Contracts in progress | 37 | €2,372 | €3,260 | +€888 | +37.4% |
| Amounts receivable within one year | 40/41 | €17,128 | €23,713 | +€6,585 | +38.4% |
| Trade receivables | 40 | €16,799 | €22,137 | +€5,337 | +31.8% |
| Other amounts receivable | 41 | €329 | €1,576 | +€1,247 | +379% |
| Cash at bank and in hand | 54/58 | €65,714 | €28,763 | -€36,951 | -56.2% |
| Deferred charges and accrued income | 490/1 | €1,535 | €1,355 | -€181 | -11.8% |
| Total equity and liabilities | 10/49 | €100,559 | €142,117 | +€41,558 | +41.3% |
| Equity | 10/15 | €14,237 | €14,981 | +€744 | +5.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,598 | €16,598 | = | 0.0% |
| Distributable reserves | 133 | €16,598 | €16,598 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,961 | -€20,217 | +€744 | +3.5% |
| Provisions and deferred taxes | 16 | €65,000 | €0 | -€65,000 | -100% |
| Provisions for liabilities and charges | 160/5 | €65,000 | €0 | -€65,000 | -100% |
| Other liabilities and charges | 164/5 | €65,000 | €0 | -€65,000 | -100% |
| Amounts payable | 17/49 | €21,322 | €127,136 | +€105,814 | +496% |
| Amounts payable after more than one year | 17 | - | €100,000 | +€100,000 | |
| Financial debts | 170/4 | - | €100,000 | +€100,000 | |
| Amounts payable within one year | 42/48 | €21,300 | €27,115 | +€5,814 | +27.3% |
| Trade debts | 44 | €6,485 | €9,786 | +€3,300 | +50.9% |
| Suppliers | 440/4 | €6,485 | €9,786 | +€3,300 | +50.9% |
| Taxes, remuneration and social security | 45 | €14,815 | €17,329 | +€2,514 | +17.0% |
| Taxes | 450/3 | €1,196 | €1,886 | +€690 | +57.7% |
| Remuneration and social security | 454/9 | €13,619 | €15,443 | +€1,824 | +13.4% |
| Accrued charges and deferred income | 492/3 | €21 | €21 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €71,356 | €116,091 | +€44,735 | +62.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €890 | +€890 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €7,500 | -€65,000 | -€72,500 | |
| Other operating charges | 640/8 | €862 | €70,956 | +€70,094 | +8,129% |
| Gross operating margin | 9900 | €90,260 | €124,527 | +€34,266 | +38.0% |
| Operating profit (loss) | 9901 | €10,542 | €1,588 | -€8,953 | -84.9% |
| Financial income | 75/76B | €1,005 | €650 | -€355 | -35.3% |
| Recurring financial income | 75 | €1,005 | €650 | -€355 | -35.3% |
| Financial charges | 65/66B | €265 | €808 | +€542 | +204% |
| Recurring financial charges | 65 | €265 | €808 | +€542 | +204% |
| Profit (loss) for the period before taxes | 9903 | €11,282 | €1,431 | -€9,851 | -87.3% |
| Income taxes | 67/77 | €241 | €687 | +€446 | +185% |
| Profit (loss) for the period | 9904 | €11,041 | €744 | -€10,297 | -93.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,041 | €744 | -€10,297 | -93.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.