WA REAL: 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.
WA REAL
Largest movements
- Receivables within one year +€1.4m
up €1.4m (+476%), from €286,266 to €1.6m
of which Other amounts receivable: +€1.4m
- Current investments -€1.4m
down €1.4m (-100%), from €1.4m to €0
- Cash -€45,552
down €45,552 (-70.7%), from €64,419 to €18,866
mainly Receivables within one year (-€1.4m) and Net result for the year (-€21,616)
- Profit (loss) carried forward -€21,616
down €21,616 (-1.3%), from €1.7m to €1.7m
- Gross operating margin -€135,020
down €135,020, from €51,888 to -€83,132
- Financial income +€20,055
up €20,055 (+45.5%), from €44,061 to €64,116
- Taxes -€7,830
down €7,830 (-100%), from €7,830 to €0
- Financial charges -€3,109
down €3,109 (-86.4%), from €3,599 to €490
- Other operating charges +€1,002
up €1,002 (+90.4%), from €1,108 to €2,110
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 | €1,737,422 | €1,716,290 | -€21,132 | -1.2% |
| Fixed assets | 21/28 | €9,000 | €21,500 | +€12,500 | +139% |
| Financial fixed assets | 28 | €9,000 | €21,500 | +€12,500 | +139% |
| Current assets | 29/58 | €1,728,422 | €1,694,790 | -€33,632 | -1.9% |
| Stocks and contracts in progress | 3 | €27,737 | €27,737 | = | 0.0% |
| Stocks | 30/36 | €27,737 | €27,737 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €286,266 | €1,648,187 | +€1.4m | +476% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €286,266 | €1,648,187 | +€1.4m | +476% |
| Current investments | 50/53 | €1,350,000 | €0 | -€1.4m | -100% |
| Cash at bank and in hand | 54/58 | €64,419 | €18,866 | -€45,552 | -70.7% |
| Total equity and liabilities | 10/49 | €1,737,422 | €1,716,290 | -€21,132 | -1.2% |
| Equity | 10/15 | €1,736,738 | €1,715,123 | -€21,616 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,718,138 | €1,696,523 | -€21,616 | -1.3% |
| Amounts payable | 17/49 | €684 | €1,167 | +€483 | +70.7% |
| Amounts payable within one year | 42/48 | €684 | €1,167 | +€483 | +70.7% |
| Trade debts | 44 | €684 | €1,167 | +€483 | +70.7% |
| Suppliers | 440/4 | €684 | €1,167 | +€483 | +70.7% |
| Other operating charges | 640/8 | €1,108 | €2,110 | +€1,002 | +90.4% |
| Gross operating margin | 9900 | €51,888 | -€83,132 | -€135,020 | |
| Operating profit (loss) | 9901 | €50,780 | -€85,242 | -€136,022 | |
| Financial income | 75/76B | €44,061 | €64,116 | +€20,055 | +45.5% |
| Recurring financial income | 75 | €44,061 | €64,116 | +€20,055 | +45.5% |
| Financial charges | 65/66B | €3,599 | €490 | -€3,109 | -86.4% |
| Recurring financial charges | 65 | €3,599 | €490 | -€3,109 | -86.4% |
| Profit (loss) for the period before taxes | 9903 | €91,242 | -€21,616 | -€112,858 | |
| Income taxes | 67/77 | €7,830 | €0 | -€7,830 | -100% |
| Profit (loss) for the period | 9904 | €83,412 | -€21,616 | -€105,027 | |
| Profit (loss) for the period to be appropriated | 9905 | €83,412 | -€21,616 | -€105,027 |
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 22 October 2026 via checked.be.