W-Vest: 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-Vest
Largest movements
- Receivables within one year -€396,352
down €396,352 (-100.0%), from €396,531 to €179
of which Other amounts receivable: -€396,352
- Cash +€388,068
up €388,068 (+19,736%), from €1,966 to €390,035
mainly Receivables within one year (+€396,352) and Depreciation (+€76,776)
- Tangible fixed assets -€76,776
down €76,776 (-5.5%), from €1.4m to €1.3m
- Current investments -€60,665
down €60,665 (-100%), from €60,665 to €0
- Other debts -€103,378
down €103,378 (-49.5%), from €208,938 to €105,560
- Reserves -€43,690
down €43,690 (-23.7%), from €184,714 to €141,023
- Gross operating margin -€17,369
down €17,369 (-8.9%), from €194,329 to €176,960
- Taxes -€2,560
down €2,560 (-11.0%), from €23,185 to €20,625
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 | €1,848,777 | €1,703,051 | -€145,725 | -7.9% |
| Fixed assets | 21/28 | €1,389,614 | €1,312,838 | -€76,776 | -5.5% |
| Tangible fixed assets | 22/27 | €1,389,614 | €1,312,838 | -€76,776 | -5.5% |
| Land and buildings | 22 | €1,389,614 | €1,312,838 | -€76,776 | -5.5% |
| Current assets | 29/58 | €459,162 | €390,213 | -€68,949 | -15.0% |
| Amounts receivable within one year | 40/41 | €396,531 | €179 | -€396,352 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €396,531 | €179 | -€396,352 | -100.0% |
| Current investments | 50/53 | €60,665 | €0 | -€60,665 | -100% |
| Cash at bank and in hand | 54/58 | €1,966 | €390,035 | +€388,068 | +19,736% |
| Total equity and liabilities | 10/49 | €1,848,777 | €1,703,051 | -€145,725 | -7.9% |
| Equity | 10/15 | €1,636,221 | €1,592,530 | -€43,690 | -2.7% |
| Contributions | 10/11 | €1,451,507 | €1,451,507 | = | 0.0% |
| Reserves | 13 | €184,714 | €141,023 | -€43,690 | -23.7% |
| Distributable reserves | 133 | €184,714 | €141,023 | -€43,690 | -23.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €212,556 | €110,521 | -€102,035 | -48.0% |
| Amounts payable within one year | 42/48 | €212,556 | €110,521 | -€102,035 | -48.0% |
| Trade debts | 44 | €218 | €191 | -€28 | -12.7% |
| Suppliers | 440/4 | €218 | €191 | -€28 | -12.7% |
| Taxes, remuneration and social security | 45 | €3,400 | €4,771 | +€1,371 | +40.3% |
| Taxes | 450/3 | €3,400 | €4,771 | +€1,371 | +40.3% |
| Other amounts payable | 47/48 | €208,938 | €105,560 | -€103,378 | -49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,787 | €76,776 | -€1,011 | -1.3% |
| Other operating charges | 640/8 | €17,442 | €18,007 | +€565 | +3.2% |
| Gross operating margin | 9900 | €194,329 | €176,960 | -€17,369 | -8.9% |
| Operating profit (loss) | 9901 | €99,100 | €82,177 | -€16,923 | -17.1% |
| Financial income | 75/76B | €951 | €348 | -€603 | -63.4% |
| Recurring financial income | 75 | €951 | €348 | -€603 | -63.4% |
| Financial charges | 65/66B | €30 | €30 | -€0 | -0.5% |
| Recurring financial charges | 65 | €30 | €30 | -€0 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €100,020 | €82,495 | -€17,526 | -17.5% |
| Income taxes | 67/77 | €23,185 | €20,625 | -€2,560 | -11.0% |
| Profit (loss) for the period | 9904 | €76,836 | €61,870 | -€14,966 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €76,836 | €61,870 | -€14,966 | -19.5% |
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 17 October 2026 via checked.be.