WAB: 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.
WAB
Largest movements
- Financial fixed assets -€120,000
down €120,000 (-27.3%), from €440,000 to €320,000
- Receivables within one year +€16,694
up €16,694 (+96.5%), from €17,295 to €33,988
of which Trade receivables: +€23,884
- Tangible fixed assets -€12,057
down €12,057 (-11.5%), from €104,481 to €92,423
of which Land and buildings: -€11,372
- Reserves -€107,765
down €107,765 (-71.7%), from €150,378 to €42,612
of which Distributable reserves: -€107,765
- Debts after one year -€11,518
down €11,518 (-14.2%), from €81,105 to €69,588
- Other debts +€8,308
up €8,308 (+8.3%), from €99,567 to €107,876
- Gross operating margin -€44,760
down €44,760 (-47.7%), from €93,887 to €49,128
- Staff costs -€24,122
down €24,122 (-75.9%), from €31,795 to €7,672
- Financial charges -€11,271
down €11,271 (-8.2%), from €138,022 to €126,751
of which Non-recurring financial charges: -€10,000
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 | €564,224 | €453,290 | -€110,934 | -19.7% |
| Fixed assets | 21/28 | €544,481 | €412,423 | -€132,057 | -24.3% |
| Tangible fixed assets | 22/27 | €104,481 | €92,423 | -€12,057 | -11.5% |
| Land and buildings | 22 | €102,424 | €91,053 | -€11,372 | -11.1% |
| Plant, machinery and equipment | 23 | €2,056 | €1,371 | -€685 | -33.3% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €440,000 | €320,000 | -€120,000 | -27.3% |
| Current assets | 29/58 | €19,743 | €40,867 | +€21,124 | +107% |
| Amounts receivable within one year | 40/41 | €17,295 | €33,988 | +€16,694 | +96.5% |
| Trade receivables | 40 | €8,457 | €32,341 | +€23,884 | +282% |
| Other amounts receivable | 41 | €8,838 | €1,647 | -€7,190 | -81.4% |
| Cash at bank and in hand | 54/58 | €345 | €4,044 | +€3,699 | +1,072% |
| Deferred charges and accrued income | 490/1 | €2,104 | €2,835 | +€731 | +34.8% |
| Total equity and liabilities | 10/49 | €564,224 | €453,290 | -€110,934 | -19.7% |
| Equity | 10/15 | €279,778 | €172,012 | -€107,765 | -38.5% |
| Contributions | 10/11 | €129,400 | €129,400 | = | 0.0% |
| Reserves | 13 | €150,378 | €42,612 | -€107,765 | -71.7% |
| Tax-exempt reserves | 132 | €13,500 | €13,500 | = | 0.0% |
| Distributable reserves | 133 | €136,878 | €29,112 | -€107,765 | -78.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €64,239 | €59,448 | -€4,791 | -7.5% |
| Provisions for liabilities and charges | 160/5 | €64,239 | €59,448 | -€4,791 | -7.5% |
| Other liabilities and charges | 164/5 | €64,239 | €59,448 | -€4,791 | -7.5% |
| Amounts payable | 17/49 | €220,207 | €221,830 | +€1,623 | +0.7% |
| Amounts payable after more than one year | 17 | €81,105 | €69,588 | -€11,518 | -14.2% |
| Financial debts | 170/4 | €81,105 | €69,588 | -€11,518 | -14.2% |
| Amounts payable within one year | 42/48 | €138,944 | €152,109 | +€13,165 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €12,232 | €12,468 | +€236 | +1.9% |
| Trade debts | 44 | €4,816 | €4,499 | -€317 | -6.6% |
| Suppliers | 440/4 | €4,816 | €4,499 | -€317 | -6.6% |
| Taxes, remuneration and social security | 45 | €22,328 | €27,266 | +€4,938 | +22.1% |
| Taxes | 450/3 | €10,309 | €11,627 | +€1,318 | +12.8% |
| Remuneration and social security | 454/9 | €12,019 | €15,639 | +€3,620 | +30.1% |
| Other amounts payable | 47/48 | €99,567 | €107,876 | +€8,308 | +8.3% |
| Accrued charges and deferred income | 492/3 | €158 | €134 | -€25 | -15.6% |
| Non-recurring operating income | 76A | - | €5,785 | +€5,785 | |
| Remuneration, social security and pensions | 62 | €31,795 | €7,672 | -€24,122 | -75.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,057 | €12,057 | = | 0.0% |
| Other operating charges | 640/8 | €1,438 | €809 | -€630 | -43.8% |
| Gross operating margin | 9900 | €93,887 | €49,128 | -€44,760 | -47.7% |
| Operating profit (loss) | 9901 | €48,597 | €28,589 | -€20,007 | -41.2% |
| Financial income | 75/76B | €1 | €0 | -€0 | -35.9% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -35.9% |
| Financial charges | 65/66B | €138,022 | €126,751 | -€11,271 | -8.2% |
| Recurring financial charges | 65 | €8,022 | €6,751 | -€1,271 | -15.8% |
| Non-recurring financial charges | 66B | €130,000 | €120,000 | -€10,000 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | -€89,424 | -€98,161 | -€8,737 | -9.8% |
| Income taxes | 67/77 | €9,514 | €9,604 | +€90 | +0.9% |
| Profit (loss) for the period | 9904 | -€98,939 | -€107,765 | -€8,827 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€98,939 | -€107,765 | -€8,827 | -8.9% |
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 13 October 2026 via checked.be.