WAB: 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.
WAB
Largest movements
- Stocks and contracts +€44,270
up €44,270 (+8.4%), from €525,216 to €569,486
- Receivables within one year +€30,173
up €30,173 (+22.9%), from €131,843 to €162,016
of which Other amounts receivable: +€23,070
- Tangible fixed assets -€14,881
down €14,881 (-29.4%), from €50,692 to €35,811
of which Furniture and vehicles: -€7,578
- Other debts +€97,367
up €97,367 (+11.8%), from €826,050 to €923,417
- Profit (loss) carried forward -€39,205
down €39,205 (-13.6%), from -€289,282 to -€328,487
- Gross operating margin -€32,158
down €32,158 (-56.9%), from €56,520 to €24,362
- Staff costs +€10,345
up €10,345 (+29.7%), from €34,868 to €45,213
- Depreciation -€2,543
down €2,543 (-14.6%), from €17,424 to €14,881
- Financial income -€941
down €941 (-99.7%), from €944 to €3
- Other operating charges -€916
down €916 (-21.5%), from €4,257 to €3,341
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 | €713,756 | €771,278 | +€57,522 | +8.1% |
| Fixed assets | 21/28 | €50,892 | €36,011 | -€14,881 | -29.2% |
| Tangible fixed assets | 22/27 | €50,692 | €35,811 | -€14,881 | -29.4% |
| Land and buildings | 22 | €14,768 | €11,650 | -€3,118 | -21.1% |
| Plant, machinery and equipment | 23 | €27,245 | €23,060 | -€4,185 | -15.4% |
| Furniture and vehicles | 24 | €8,679 | €1,101 | -€7,578 | -87.3% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €662,864 | €735,267 | +€72,403 | +10.9% |
| Stocks and contracts in progress | 3 | €525,216 | €569,486 | +€44,270 | +8.4% |
| Stocks | 30/36 | €525,216 | €569,486 | +€44,270 | +8.4% |
| Amounts receivable within one year | 40/41 | €131,843 | €162,016 | +€30,173 | +22.9% |
| Trade receivables | 40 | €35,992 | €43,095 | +€7,103 | +19.7% |
| Other amounts receivable | 41 | €95,851 | €118,921 | +€23,070 | +24.1% |
| Cash at bank and in hand | 54/58 | €5,805 | €3,765 | -€2,039 | -35.1% |
| Total equity and liabilities | 10/49 | €713,756 | €771,278 | +€57,522 | +8.1% |
| Equity | 10/15 | -€120,682 | -€159,887 | -€39,205 | -32.5% |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€289,282 | -€328,487 | -€39,205 | -13.6% |
| Amounts payable | 17/49 | €834,438 | €931,165 | +€96,727 | +11.6% |
| Amounts payable within one year | 42/48 | €834,438 | €931,165 | +€96,727 | +11.6% |
| Trade debts | 44 | €3,727 | €2,971 | -€756 | -20.3% |
| Suppliers | 440/4 | €3,727 | €2,971 | -€756 | -20.3% |
| Advances received on contracts in progress | 46 | €50 | €50 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,610 | €4,727 | +€117 | +2.5% |
| Taxes | 450/3 | €981 | - | -€981 | |
| Remuneration and social security | 454/9 | €3,629 | €4,727 | +€1,097 | +30.2% |
| Other amounts payable | 47/48 | €826,050 | €923,417 | +€97,367 | +11.8% |
| Remuneration, social security and pensions | 62 | €34,868 | €45,213 | +€10,345 | +29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,424 | €14,881 | -€2,543 | -14.6% |
| Other operating charges | 640/8 | €4,257 | €3,341 | -€916 | -21.5% |
| Gross operating margin | 9900 | €56,520 | €24,362 | -€32,158 | -56.9% |
| Operating profit (loss) | 9901 | -€29 | -€39,073 | -€39,044 | -134171.9% |
| Financial income | 75/76B | €944 | €3 | -€941 | -99.7% |
| Recurring financial income | 75 | €944 | €3 | -€941 | -99.7% |
| Financial charges | 65/66B | €303 | €135 | -€168 | -55.4% |
| Recurring financial charges | 65 | €303 | €135 | -€168 | -55.4% |
| Profit (loss) for the period before taxes | 9903 | €612 | -€39,205 | -€39,817 | |
| Profit (loss) for the period | 9904 | €612 | -€39,205 | -€39,817 | |
| Profit (loss) for the period to be appropriated | 9905 | €612 | -€39,205 | -€39,817 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.