WA CONSTRUCT: 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 CONSTRUCT
Largest movements
- Receivables within one year +€33,933
up €33,933 (+27.9%), from €121,648 to €155,580
of which Trade receivables: +€32,265
- Cash +€23,427
up €23,427 (+463.4%), from €5,055 to €28,482
mainly Trade debts (+€52,312) and Net result for the year (+€18,210)
- Tangible fixed assets +€11,300
up €11,300 (+134.5%), from €8,401 to €19,701
of which Furniture and vehicles: +€12,914
- Stocks and contracts +€8,251
up €8,251 (+30.0%), from €27,519 to €35,770
- Trade debts +€52,312
up €52,312 (+106.0%), from €49,351 to €101,663
- Reserves +€18,200
up €18,200 (+53.6%), from €33,960 to €52,160
of which Distributable reserves: +€18,200
- Debts after one year +€8,911
new in 2026: €8,911
- Current portion of long-term debt +€4,277
new in 2026: €4,277
- Other debts -€3,707
down €3,707 (-27.1%), from €13,675 to €9,968
- Financial charges -€18,872
down €18,872 (-93.3%), from €20,234 to €1,362
- Taxes +€4,797
up €4,797 (+162.7%), from €2,949 to €7,746
- Gross operating margin -€2,286
down €2,286 (-5.6%), from €40,706 to €38,420
- Depreciation -€1,422
down €1,422 (-13.1%), from €10,831 to €9,409
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €166,623 | €245,469 | +€78,846 | +47.3% |
| Fixed assets | 21/28 | €8,973 | €20,272 | +€11,300 | +125.9% |
| Tangible fixed assets | 22/27 | €8,401 | €19,701 | +€11,300 | +134.5% |
| Plant, machinery and equipment | 23 | €5,082 | €3,467 | -€1,615 | -31.8% |
| Furniture and vehicles | 24 | €3,320 | €16,234 | +€12,914 | +389.0% |
| Financial fixed assets | 28 | €571 | €571 | = | 0.0% |
| Current assets | 29/58 | €157,650 | €225,197 | +€67,547 | +42.8% |
| Stocks and contracts in progress | 3 | €27,519 | €35,770 | +€8,251 | +30.0% |
| Stocks | 30/36 | €27,519 | €35,770 | +€8,251 | +30.0% |
| Amounts receivable within one year | 40/41 | €121,648 | €155,580 | +€33,933 | +27.9% |
| Trade receivables | 40 | €109,088 | €141,353 | +€32,265 | +29.6% |
| Other amounts receivable | 41 | €12,560 | €14,228 | +€1,668 | +13.3% |
| Cash at bank and in hand | 54/58 | €5,055 | €28,482 | +€23,427 | +463.4% |
| Deferred charges and accrued income | 490/1 | €3,428 | €5,364 | +€1,936 | +56.5% |
| Total equity and liabilities | 10/49 | €166,623 | €245,469 | +€78,846 | +47.3% |
| Equity | 10/15 | €92,022 | €110,232 | +€18,210 | +19.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,960 | €52,160 | +€18,200 | +53.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €32,100 | €50,300 | +€18,200 | +56.7% |
| Profit (loss) carried forward | 14 | €39,462 | €39,472 | +€10 | 0.0% |
| Amounts payable | 17/49 | €74,601 | €135,237 | +€60,636 | +81.3% |
| Amounts payable after more than one year | 17 | - | €8,911 | +€8,911 | |
| Financial debts | 170/4 | - | €8,911 | +€8,911 | |
| Amounts payable within one year | 42/48 | €74,601 | €126,326 | +€51,725 | +69.3% |
| Current portion of amounts payable after more than one year | 42 | - | €4,277 | +€4,277 | |
| Financial debts | 43 | €785 | €780 | -€5 | -0.7% |
| Other loans | 439 | €785 | €780 | -€5 | -0.7% |
| Trade debts | 44 | €49,351 | €101,663 | +€52,312 | +106.0% |
| Suppliers | 440/4 | €49,351 | €101,663 | +€52,312 | +106.0% |
| Taxes, remuneration and social security | 45 | €10,790 | €9,638 | -€1,152 | -10.7% |
| Taxes | 450/3 | €490 | €3,720 | +€3,230 | +659.2% |
| Remuneration and social security | 454/9 | €10,300 | €5,918 | -€4,382 | -42.5% |
| Other amounts payable | 47/48 | €13,675 | €9,968 | -€3,707 | -27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,831 | €9,409 | -€1,422 | -13.1% |
| Other operating charges | 640/8 | €2,119 | €1,844 | -€275 | -13.0% |
| Gross operating margin | 9900 | €40,706 | €38,420 | -€2,286 | -5.6% |
| Operating profit (loss) | 9901 | €27,757 | €27,167 | -€590 | -2.1% |
| Financial income | 75/76B | €407 | €151 | -€256 | -62.9% |
| Recurring financial income | 75 | €407 | €151 | -€256 | -62.9% |
| Financial charges | 65/66B | €20,234 | €1,362 | -€18,872 | -93.3% |
| Recurring financial charges | 65 | €20,234 | €1,362 | -€18,872 | -93.3% |
| Profit (loss) for the period before taxes | 9903 | €7,929 | €25,956 | +€18,027 | +227.3% |
| Income taxes | 67/77 | €2,949 | €7,746 | +€4,797 | +162.7% |
| Profit (loss) for the period | 9904 | €4,981 | €18,210 | +€13,230 | +265.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,981 | €18,210 | +€13,230 | +265.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.