wa: 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.
wa
Largest movements
- Current investments +€325,000
up €325,000 (+433.3%), from €75,000 to €400,000
- Cash -€32,456
down €32,456 (-24.7%), from €131,239 to €98,783
mainly Current investments (-€325,000) and Other debts (-€89,155)
- Tangible fixed assets +€10,813
up €10,813 (+10.1%), from €107,270 to €118,084
of which Plant, machinery and equipment: +€6,109
- Deferred charges and accrued income -€8,881
down €8,881 (-100.0%), from €8,881 to €0
- Reserves +€319,551
up €319,551 (+17187.5%), from €1,859 to €321,410
of which Distributable reserves: +€319,551
- Other debts -€89,155
down €89,155 (-51.7%), from €172,490 to €83,335
- Profit (loss) carried forward +€33,189
up €33,189, from -€33,189 to €0
- Tax, wage and social debts +€27,170
up €27,170 (+87.2%), from €31,169 to €58,339
- Taxes +€132,570
new in 2025: €132,570
- Gross operating margin +€110,561
up €110,561 (+27.8%), from €398,152 to €508,713
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 | €323,390 | €616,867 | +€293,477 | +90.8% |
| Fixed assets | 21/28 | €107,270 | €118,084 | +€10,813 | +10.1% |
| Tangible fixed assets | 22/27 | €107,270 | €118,084 | +€10,813 | +10.1% |
| Land and buildings | 22 | €83,107 | €87,484 | +€4,378 | +5.3% |
| Plant, machinery and equipment | 23 | €11,678 | €17,787 | +€6,109 | +52.3% |
| Furniture and vehicles | 24 | €12,485 | €12,812 | +€327 | +2.6% |
| Current assets | 29/58 | €216,120 | €498,783 | +€282,663 | +130.8% |
| Amounts receivable within one year | 40/41 | €1,000 | €0 | -€1,000 | -100.0% |
| Trade receivables | 40 | €1,000 | €0 | -€1,000 | -100.0% |
| Current investments | 50/53 | €75,000 | €400,000 | +€325,000 | +433.3% |
| Cash at bank and in hand | 54/58 | €131,239 | €98,783 | -€32,456 | -24.7% |
| Deferred charges and accrued income | 490/1 | €8,881 | €0 | -€8,881 | -100.0% |
| Total equity and liabilities | 10/49 | €323,390 | €616,867 | +€293,477 | +90.8% |
| Equity | 10/15 | €118,670 | €471,410 | +€352,740 | +297.2% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €1,859 | €321,410 | +€319,551 | +17187.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,859 | €321,410 | +€319,551 | +17187.5% |
| Profit (loss) carried forward | 14 | -€33,189 | €0 | +€33,189 | |
| Amounts payable | 17/49 | €204,720 | €145,457 | -€59,263 | -28.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €204,332 | €145,057 | -€59,275 | -29.0% |
| Trade debts | 44 | €674 | €3,384 | +€2,710 | +402.3% |
| Suppliers | 440/4 | €674 | €3,384 | +€2,710 | +402.3% |
| Taxes, remuneration and social security | 45 | €31,169 | €58,339 | +€27,170 | +87.2% |
| Taxes | 450/3 | €31,169 | €58,339 | +€27,170 | +87.2% |
| Other amounts payable | 47/48 | €172,490 | €83,335 | -€89,155 | -51.7% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,330 | €15,189 | +€859 | +6.0% |
| Other operating charges | 640/8 | €9,841 | €8,564 | -€1,277 | -13.0% |
| Gross operating margin | 9900 | €398,152 | €508,713 | +€110,561 | +27.8% |
| Operating profit (loss) | 9901 | €373,981 | €484,960 | +€110,979 | +29.7% |
| Financial income | 75/76B | €0 | €2,254 | +€2,253 | +2253400.0% |
| Recurring financial income | 75 | €0 | €2,254 | +€2,253 | +2253400.0% |
| Financial charges | 65/66B | €44 | €1,903 | +€1,859 | +4226.1% |
| Recurring financial charges | 65 | €44 | €1,903 | +€1,859 | +4226.1% |
| Profit (loss) for the period before taxes | 9903 | €373,937 | €485,310 | +€111,373 | +29.8% |
| Income taxes | 67/77 | - | €132,570 | +€132,570 | |
| Profit (loss) for the period | 9904 | €373,937 | €352,740 | -€21,197 | -5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €373,937 | €352,740 | -€21,197 | -5.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.