WABAE II: 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.
WABAE II
Largest movements
- Current investments -€1.6m
down €1.6m (-11.9%), from €13.1m to €11.6m
- Cash +€196,831
up €196,831 (+430%), from €45,739 to €242,570
mainly Other debts (+€1.8m) and Current investments (+€1.6m)
- Reserves -€3.2m
down €3.2m (-32.5%), from €9.7m to €6.6m
- Other debts +€1.8m
new in 2025: €1.8m
- Financial income -€774,458
down €774,458 (-41.3%), from €1.9m to €1.1m
- Financial charges -€245,520
down €245,520 (-48.0%), from €511,747 to €266,227
- Taxes -€223,103
down €223,103 (-49.9%), from €447,245 to €224,142
- Other operating charges +€39,592
up €39,592 (+186%), from €21,280 to €60,872
- Gross operating margin +€24,250
up €24,250 (+70.7%), from -€34,311 to -€10,061
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 | €13,224,242 | €11,808,861 | -€1.4m | -10.7% |
| Current assets | 29/58 | €13,224,242 | €11,808,861 | -€1.4m | -10.7% |
| Amounts receivable within one year | 40/41 | €51,728 | €1,809 | -€49,919 | -96.5% |
| Other amounts receivable | 41 | €51,728 | €1,809 | -€49,919 | -96.5% |
| Current investments | 50/53 | €13,126,775 | €11,562,056 | -€1.6m | -11.9% |
| Cash at bank and in hand | 54/58 | €45,739 | €242,570 | +€196,831 | +430% |
| Deferred charges and accrued income | 490/1 | €0 | €2,426 | +€2,426 | |
| Total equity and liabilities | 10/49 | €13,224,242 | €11,808,861 | -€1.4m | -10.7% |
| Equity | 10/15 | €13,211,721 | €10,051,495 | -€3.2m | -23.9% |
| Contributions | 10/11 | €3,499,085 | €3,499,085 | = | 0.0% |
| Reserves | 13 | €9,712,636 | €6,552,410 | -€3.2m | -32.5% |
| Distributable reserves | 133 | €9,712,636 | €6,552,410 | -€3.2m | -32.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €12,521 | €1,757,365 | +€1.7m | +13,935% |
| Amounts payable within one year | 42/48 | €5,622 | €1,750,000 | +€1.7m | +31,027% |
| Trade debts | 44 | €5,622 | €0 | -€5,622 | -100% |
| Suppliers | 440/4 | €5,622 | €0 | -€5,622 | -100% |
| Other amounts payable | 47/48 | - | €1,750,000 | +€1.8m | |
| Accrued charges and deferred income | 492/3 | €6,899 | €7,365 | +€466 | +6.8% |
| Other operating charges | 640/8 | €21,280 | €60,872 | +€39,592 | +186% |
| Gross operating margin | 9900 | -€34,311 | -€10,061 | +€24,250 | +70.7% |
| Operating profit (loss) | 9901 | -€55,591 | -€70,933 | -€15,342 | -27.6% |
| Financial income | 75/76B | €1,873,735 | €1,099,277 | -€774,458 | -41.3% |
| Recurring financial income | 75 | €1,873,735 | €1,099,277 | -€774,458 | -41.3% |
| Financial charges | 65/66B | €511,747 | €266,227 | -€245,520 | -48.0% |
| Recurring financial charges | 65 | €511,747 | €266,227 | -€245,520 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €1,306,396 | €762,117 | -€544,279 | -41.7% |
| Income taxes | 67/77 | €447,245 | €224,142 | -€223,103 | -49.9% |
| Profit (loss) for the period | 9904 | €859,151 | €537,975 | -€321,176 | -37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €859,151 | €537,975 | -€321,176 | -37.4% |
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 14 October 2026 via checked.be.