W.V.: 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.V.
Largest movements
- Receivables after one year +€39,000
new in 2025: €39,000
- Cash +€9,905
up €9,905 (+48.2%), from €20,564 to €30,470
mainly Net result for the year (+€43,191) and Tax, wage and social debts (+€6,280)
- Reserves +€43,191
up €43,191 (+371.8%), from €11,616 to €54,808
- Tax, wage and social debts +€6,280
up €6,280 (+67.2%), from €9,350 to €15,630
of which Taxes: +€6,266
- Gross operating margin +€36,467
up €36,467 (+194.7%), from €18,729 to €55,196
- Taxes +€7,896
up €7,896 (+241.8%), from €3,265 to €11,161
- Depreciation -€3,239
down €3,239 (-94.3%), from €3,432 to €194
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 | €26,600 | €75,907 | +€49,308 | +185.4% |
| Formation expenses | 20 | €49 | €0 | -€49 | -100.0% |
| Fixed assets | 21/28 | €239 | €676 | +€437 | +182.7% |
| Tangible fixed assets | 22/27 | €239 | €676 | +€437 | +182.7% |
| Furniture and vehicles | 24 | €239 | €676 | +€437 | +182.7% |
| Current assets | 29/58 | €26,312 | €75,231 | +€48,920 | +185.9% |
| Amounts receivable after more than one year | 29 | - | €39,000 | +€39,000 | |
| Other amounts receivable | 291 | - | €39,000 | +€39,000 | |
| Amounts receivable within one year | 40/41 | €5,748 | €5,762 | +€14 | +0.2% |
| Trade receivables | 40 | €5,748 | €5,748 | = | 0.0% |
| Other amounts receivable | 41 | - | €14 | +€14 | |
| Cash at bank and in hand | 54/58 | €20,564 | €30,470 | +€9,905 | +48.2% |
| Total equity and liabilities | 10/49 | €26,600 | €75,907 | +€49,308 | +185.4% |
| Equity | 10/15 | €16,616 | €59,808 | +€43,191 | +259.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €11,616 | €54,808 | +€43,191 | +371.8% |
| Distributable reserves | 133 | €11,616 | €54,808 | +€43,191 | +371.8% |
| Amounts payable | 17/49 | €9,983 | €16,100 | +€6,116 | +61.3% |
| Amounts payable within one year | 42/48 | €9,983 | €16,100 | +€6,116 | +61.3% |
| Trade debts | 44 | €634 | €470 | -€164 | -25.9% |
| Suppliers | 440/4 | €634 | €470 | -€164 | -25.9% |
| Taxes, remuneration and social security | 45 | €9,350 | €15,630 | +€6,280 | +67.2% |
| Taxes | 450/3 | €7,350 | €13,616 | +€6,266 | +85.3% |
| Remuneration and social security | 454/9 | €2,000 | €2,014 | +€14 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,432 | €194 | -€3,239 | -94.3% |
| Other operating charges | 640/8 | €299 | €578 | +€279 | +93.4% |
| Gross operating margin | 9900 | €18,729 | €55,196 | +€36,467 | +194.7% |
| Operating profit (loss) | 9901 | €14,998 | €54,424 | +€39,426 | +262.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €116 | €72 | -€44 | -38.0% |
| Recurring financial charges | 65 | €116 | €72 | -€44 | -38.0% |
| Profit (loss) for the period before taxes | 9903 | €14,882 | €54,352 | +€39,470 | +265.2% |
| Income taxes | 67/77 | €3,265 | €11,161 | +€7,896 | +241.8% |
| Profit (loss) for the period | 9904 | €11,616 | €43,191 | +€31,575 | +271.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,616 | €43,191 | +€31,575 | +271.8% |
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 3 October 2026 via checked.be.