WABECO: 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.
WABECO
Largest movements
- Receivables within one year -€66,730
down €66,730 (-23.5%), from €283,451 to €216,721
of which Other amounts receivable: -€73,995
- Cash -€13,514
no longer reported in 2025 (was €13,514)
mainly Contributions, distributions and other (-€80,270) and Tax, wage and social debts (-€12,086)
- Tangible fixed assets -€11,514
down €11,514 (-35.0%), from €32,902 to €21,388
of which Leasing and similar rights: -€7,300
- Reserves -€62,678
down €62,678 (-39.1%), from €160,478 to €97,800
- Contributions -€17,592
down €17,592 (-94.6%), from €18,592 to €1,000
- Short-term financial debts +€12,639
new in 2025: €12,639
- Tax, wage and social debts -€12,086
down €12,086 (-39.9%), from €30,279 to €18,193
of which Taxes: -€13,328
- Profit (loss) carried forward -€6,010
new in 2025: -€6,010
- Gross operating margin -€73,329
down €73,329 (-66.5%), from €110,325 to €36,996
- Taxes -€20,591
down €20,591 (-98.8%), from €20,843 to €252
- Staff costs +€2,395
up €2,395 (+10.3%), from €23,339 to €25,734
- Financial income -€2,198
down €2,198 (-100.0%), from €2,198 to €0
- Depreciation -€1,938
down €1,938 (-14.4%), from €13,452 to €11,514
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 | €334,034 | €241,964 | -€92,071 | -27.6% |
| Fixed assets | 21/28 | €32,902 | €21,388 | -€11,514 | -35.0% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €32,902 | €21,388 | -€11,514 | -35.0% |
| Land and buildings | 22 | €19,924 | €16,501 | -€3,423 | -17.2% |
| Plant, machinery and equipment | 23 | €2,103 | €1,527 | -€577 | -27.4% |
| Furniture and vehicles | 24 | €214 | - | -€214 | |
| Leasing and similar rights | 25 | €10,660 | €3,360 | -€7,300 | -68.5% |
| Current assets | 29/58 | €301,133 | €220,576 | -€80,557 | -26.8% |
| Stocks and contracts in progress | 3 | €1,000 | €2,000 | +€1,000 | +100% |
| Stocks | 30/36 | €1,000 | €2,000 | +€1,000 | +100% |
| Amounts receivable within one year | 40/41 | €283,451 | €216,721 | -€66,730 | -23.5% |
| Trade receivables | 40 | €47,722 | €54,987 | +€7,265 | +15.2% |
| Other amounts receivable | 41 | €235,729 | €161,734 | -€73,995 | -31.4% |
| Cash at bank and in hand | 54/58 | €13,514 | - | -€13,514 | |
| Deferred charges and accrued income | 490/1 | €3,168 | €1,855 | -€1,313 | -41.4% |
| Total equity and liabilities | 10/49 | €334,034 | €241,964 | -€92,071 | -27.6% |
| Equity | 10/15 | €179,070 | €92,790 | -€86,280 | -48.2% |
| Contributions | 10/11 | €18,592 | €1,000 | -€17,592 | -94.6% |
| Reserves | 13 | €160,478 | €97,800 | -€62,678 | -39.1% |
| Distributable reserves | 133 | €160,478 | €97,800 | -€62,678 | -39.1% |
| Profit (loss) carried forward | 14 | - | -€6,010 | -€6,010 | |
| Amounts payable | 17/49 | €154,965 | €149,174 | -€5,791 | -3.7% |
| Amounts payable after more than one year | 17 | €4,110 | €1,095 | -€3,015 | -73.4% |
| Financial debts | 170/4 | €4,110 | €1,095 | -€3,015 | -73.4% |
| Amounts payable within one year | 42/48 | €150,855 | €148,079 | -€2,776 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €7,186 | €3,015 | -€4,171 | -58.0% |
| Financial debts | 43 | - | €12,639 | +€12,639 | |
| Credit institutions | 430/8 | - | €12,639 | +€12,639 | |
| Trade debts | 44 | €113,391 | €114,232 | +€842 | +0.7% |
| Suppliers | 440/4 | €113,391 | €114,232 | +€842 | +0.7% |
| Taxes, remuneration and social security | 45 | €30,279 | €18,193 | -€12,086 | -39.9% |
| Taxes | 450/3 | €28,672 | €15,343 | -€13,328 | -46.5% |
| Remuneration and social security | 454/9 | €1,607 | €2,850 | +€1,243 | +77.3% |
| Remuneration, social security and pensions | 62 | €23,339 | €25,734 | +€2,395 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,452 | €11,514 | -€1,938 | -14.4% |
| Other operating charges | 640/8 | €3,252 | €3,615 | +€363 | +11.2% |
| Gross operating margin | 9900 | €110,325 | €36,996 | -€73,329 | -66.5% |
| Operating profit (loss) | 9901 | €70,281 | -€3,868 | -€74,149 | |
| Financial income | 75/76B | €2,198 | €0 | -€2,198 | -100.0% |
| Recurring financial income | 75 | €2,198 | €0 | -€2,198 | -100.0% |
| Financial charges | 65/66B | €1,785 | €1,890 | +€105 | +5.9% |
| Recurring financial charges | 65 | €1,785 | €1,890 | +€105 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €70,695 | -€5,758 | -€76,453 | |
| Income taxes | 67/77 | €20,843 | €252 | -€20,591 | -98.8% |
| Profit (loss) for the period | 9904 | €49,852 | -€6,010 | -€55,862 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,852 | -€6,010 | -€55,862 |
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 20 October 2026 via checked.be.