W2P Belgium: 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.
W2P Belgium
Largest movements
- Receivables within one year -€42,801
down €42,801 (-47.9%), from €89,357 to €46,557
of which Trade receivables: -€52,602
- Intangible fixed assets -€10,141
down €10,141 (-25.8%), from €39,308 to €29,167
- Cash -€6,706
down €6,706 (-5.5%), from €122,494 to €115,788
mainly Contributions, distributions and other (-€70,000) and Other debts (-€20,000)
- Reserves -€20,000
down €20,000 (-43.0%), from €46,500 to €26,500
- Other debts -€20,000
down €20,000 (-22.2%), from €90,000 to €70,000
- Debts after one year -€11,427
down €11,427 (-27.2%), from €42,068 to €30,642
- Trade debts -€8,253
down €8,253 (-18.9%), from €43,737 to €35,485
- Gross operating margin -€38,311
down €38,311 (-37.9%), from €100,981 to €62,669
- Taxes -€9,598
down €9,598 (-98.0%), from €9,797 to €198
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 | €251,160 | €191,689 | -€59,471 | -23.7% |
| Fixed assets | 21/28 | €39,308 | €29,167 | -€10,141 | -25.8% |
| Intangible fixed assets | 21 | €39,308 | €29,167 | -€10,141 | -25.8% |
| Current assets | 29/58 | €211,852 | €162,522 | -€49,330 | -23.3% |
| Amounts receivable within one year | 40/41 | €89,357 | €46,557 | -€42,801 | -47.9% |
| Trade receivables | 40 | €89,139 | €36,537 | -€52,602 | -59.0% |
| Other amounts receivable | 41 | €218 | €10,020 | +€9,802 | +4,493% |
| Cash at bank and in hand | 54/58 | €122,494 | €115,788 | -€6,706 | -5.5% |
| Deferred charges and accrued income | 490/1 | - | €177 | +€177 | |
| Total equity and liabilities | 10/49 | €251,160 | €191,689 | -€59,471 | -23.7% |
| Equity | 10/15 | €53,486 | €34,026 | -€19,460 | -36.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,500 | €26,500 | -€20,000 | -43.0% |
| Distributable reserves | 133 | €46,500 | €26,500 | -€20,000 | -43.0% |
| Profit (loss) carried forward | 14 | €786 | €1,326 | +€540 | +68.7% |
| Amounts payable | 17/49 | €197,674 | €157,663 | -€40,011 | -20.2% |
| Amounts payable after more than one year | 17 | €42,068 | €30,642 | -€11,427 | -27.2% |
| Financial debts | 170/4 | €42,068 | €30,642 | -€11,427 | -27.2% |
| Amounts payable within one year | 42/48 | €155,606 | €126,650 | -€28,956 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €11,192 | €11,427 | +€235 | +2.1% |
| Trade debts | 44 | €43,737 | €35,485 | -€8,253 | -18.9% |
| Suppliers | 440/4 | €43,737 | €35,485 | -€8,253 | -18.9% |
| Taxes, remuneration and social security | 45 | €10,677 | €9,739 | -€938 | -8.8% |
| Taxes | 450/3 | €10,677 | €9,739 | -€938 | -8.8% |
| Other amounts payable | 47/48 | €90,000 | €70,000 | -€20,000 | -22.2% |
| Accrued charges and deferred income | 492/3 | €0 | €371 | +€371 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,312 | €10,141 | -€171 | -1.7% |
| Other operating charges | 640/8 | €694 | €694 | -€0 | 0.0% |
| Gross operating margin | 9900 | €100,981 | €62,669 | -€38,311 | -37.9% |
| Operating profit (loss) | 9901 | €89,975 | €51,834 | -€38,141 | -42.4% |
| Financial income | 75/76B | €284 | €0 | -€284 | -100% |
| Recurring financial income | 75 | €284 | €0 | -€284 | -100% |
| Financial charges | 65/66B | €1,400 | €1,095 | -€305 | -21.8% |
| Recurring financial charges | 65 | €1,400 | €1,095 | -€305 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €88,858 | €50,739 | -€38,119 | -42.9% |
| Income taxes | 67/77 | €9,797 | €198 | -€9,598 | -98.0% |
| Profit (loss) for the period | 9904 | €79,061 | €50,540 | -€28,521 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €79,061 | €50,540 | -€28,521 | -36.1% |
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 29 October 2026 via checked.be.