W&V 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&V PROJECTS
Largest movements
- Tangible fixed assets -€47,314
down €47,314 (-5.5%), from €852,876 to €805,562
of which Land and buildings: -€46,488
- Cash -€23,118
down €23,118 (-36.6%), from €63,184 to €40,066
mainly Debts after one year (-€149,163) and Investment in fixed assets (net) (-€20,833)
- Debts after one year -€149,163
down €149,163 (-28.4%), from €525,130 to €375,967
- Reserves +€57,175
up €57,175 (+1,143%), from €5,000 to €62,175
of which Distributable reserves: +€57,175
- Trade debts +€15,854
up €15,854 (+791%), from €2,004 to €17,859
- Gross operating margin +€24,744
up €24,744 (+17.5%), from €141,406 to €166,150
- Depreciation -€13,282
down €13,282 (-14.5%), from €91,435 to €78,154
- Staff costs -€4,193
down €4,193 (-25.5%), from €16,439 to €12,247
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 | €1,196,168 | €1,131,367 | -€64,800 | -5.4% |
| Fixed assets | 21/28 | €1,118,750 | €1,061,429 | -€57,321 | -5.1% |
| Intangible fixed assets | 21 | €263,375 | €253,367 | -€10,007 | -3.8% |
| Tangible fixed assets | 22/27 | €852,876 | €805,562 | -€47,314 | -5.5% |
| Land and buildings | 22 | €727,576 | €681,088 | -€46,488 | -6.4% |
| Plant, machinery and equipment | 23 | €37,194 | €31,385 | -€5,808 | -15.6% |
| Furniture and vehicles | 24 | €55,506 | €49,331 | -€6,175 | -11.1% |
| Other tangible fixed assets | 26 | €32,599 | €43,757 | +€11,158 | +34.2% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €77,417 | €69,938 | -€7,479 | -9.7% |
| Stocks and contracts in progress | 3 | €11,126 | €16,328 | +€5,203 | +46.8% |
| Stocks | 30/36 | €11,126 | €16,328 | +€5,203 | +46.8% |
| Amounts receivable within one year | 40/41 | €3,108 | €13,544 | +€10,436 | +336% |
| Trade receivables | 40 | - | €13,466 | +€13,466 | |
| Other amounts receivable | 41 | €3,108 | €78 | -€3,030 | -97.5% |
| Cash at bank and in hand | 54/58 | €63,184 | €40,066 | -€23,118 | -36.6% |
| Total equity and liabilities | 10/49 | €1,196,168 | €1,131,367 | -€64,800 | -5.4% |
| Equity | 10/15 | €49,353 | €112,175 | +€62,822 | +127% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Capital | 10 | €50,000 | €50,000 | = | 0.0% |
| Issued capital | 100 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €62,175 | +€57,175 | +1,143% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Legal reserve | 130 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | - | €57,175 | +€57,175 | |
| Profit (loss) carried forward | 14 | -€5,647 | - | +€5,647 | |
| Amounts payable | 17/49 | €1,146,814 | €1,019,193 | -€127,622 | -11.1% |
| Amounts payable after more than one year | 17 | €525,130 | €375,967 | -€149,163 | -28.4% |
| Financial debts | 170/4 | €525,130 | €375,967 | -€149,163 | -28.4% |
| Amounts payable within one year | 42/48 | €621,685 | €643,226 | +€21,541 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €53,153 | €54,163 | +€1,010 | +1.9% |
| Trade debts | 44 | €2,004 | €17,859 | +€15,854 | +791% |
| Suppliers | 440/4 | €2,004 | €17,859 | +€15,854 | +791% |
| Taxes, remuneration and social security | 45 | €12,455 | €16,932 | +€4,477 | +35.9% |
| Taxes | 450/3 | €10,999 | €16,700 | +€5,701 | +51.8% |
| Remuneration and social security | 454/9 | €1,456 | €232 | -€1,224 | -84.0% |
| Other amounts payable | 47/48 | €554,072 | €554,272 | +€200 | 0.0% |
| Remuneration, social security and pensions | 62 | €16,439 | €12,247 | -€4,193 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,435 | €78,154 | -€13,282 | -14.5% |
| Other operating charges | 640/8 | €1,945 | €2,908 | +€964 | +49.5% |
| Gross operating margin | 9900 | €141,406 | €166,150 | +€24,744 | +17.5% |
| Operating profit (loss) | 9901 | €31,587 | €72,841 | +€41,254 | +131% |
| Financial income | 75/76B | €114 | - | -€114 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €114 | - | -€114 | |
| Financial charges | 65/66B | €10,660 | €10,020 | -€640 | -6.0% |
| Recurring financial charges | 65 | €10,660 | €10,020 | -€640 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €21,042 | €62,822 | +€41,780 | +199% |
| Profit (loss) for the period | 9904 | €21,042 | €62,822 | +€41,780 | +199% |
| Profit (loss) for the period to be appropriated | 9905 | €21,042 | €62,822 | +€41,780 | +199% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.