WABO Construct: 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.
WABO Construct
Largest movements
- Stocks and contracts +€742,176
up €742,176 (+135%), from €551,620 to €1.3m
of which Stocks: +€500,176
- Cash -€336,619
down €336,619 (-91.5%), from €367,839 to €31,220
mainly Stocks and contracts (-€742,176) and Contributions, distributions and other (-€128,777)
- Tangible fixed assets +€30,754
up €30,754 (+308%), from €9,979 to €40,733
of which Furniture and vehicles: +€36,310
- Short-term financial debts +€359,524
new in 2026: €359,524
- Other debts +€97,128
up €97,128 (+23.5%), from €413,417 to €510,544
- Reserves -€47,775
down €47,775 (-10.5%), from €455,887 to €408,113
- Trade debts +€34,400
up €34,400 (+881%), from €3,905 to €38,305
- Debts after one year +€25,000
new in 2026: €25,000
- Gross operating margin -€57,108
down €57,108 (-30.5%), from €187,464 to €130,356
- Financial charges -€12,388
down €12,388 (-78.6%), from €15,757 to €3,369
- Taxes -€3,844
down €3,844 (-11.4%), from €33,837 to €29,993
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €936,781 | €1,391,698 | +€454,917 | +48.6% |
| Fixed assets | 21/28 | €9,979 | €44,233 | +€34,254 | +343% |
| Tangible fixed assets | 22/27 | €9,979 | €40,733 | +€30,754 | +308% |
| Plant, machinery and equipment | 23 | €5,889 | €3,606 | -€2,283 | -38.8% |
| Furniture and vehicles | 24 | €817 | €37,127 | +€36,310 | +4,444% |
| Leasing and similar rights | 25 | €3,274 | - | -€3,274 | |
| Financial fixed assets | 28 | - | €3,500 | +€3,500 | |
| Current assets | 29/58 | €926,802 | €1,347,466 | +€420,664 | +45.4% |
| Stocks and contracts in progress | 3 | €551,620 | €1,293,795 | +€742,176 | +135% |
| Stocks | 30/36 | €551,620 | €1,051,795 | +€500,176 | +90.7% |
| Contracts in progress | 37 | - | €242,000 | +€242,000 | |
| Amounts receivable within one year | 40/41 | €3,527 | €17,149 | +€13,622 | +386% |
| Trade receivables | 40 | - | €6,429 | +€6,429 | |
| Other amounts receivable | 41 | €3,527 | €10,720 | +€7,194 | +204% |
| Cash at bank and in hand | 54/58 | €367,839 | €31,220 | -€336,619 | -91.5% |
| Deferred charges and accrued income | 490/1 | €3,817 | €5,301 | +€1,485 | +38.9% |
| Total equity and liabilities | 10/49 | €936,781 | €1,391,698 | +€454,917 | +48.6% |
| Equity | 10/15 | €505,887 | €458,113 | -€47,775 | -9.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €455,887 | €408,113 | -€47,775 | -10.5% |
| Distributable reserves | 133 | €455,887 | €408,113 | -€47,775 | -10.5% |
| Amounts payable | 17/49 | €430,894 | €933,586 | +€502,692 | +117% |
| Amounts payable after more than one year | 17 | - | €25,000 | +€25,000 | |
| Other amounts payable | 178/9 | - | €25,000 | +€25,000 | |
| Amounts payable within one year | 42/48 | €430,894 | €908,586 | +€477,692 | +111% |
| Current portion of amounts payable after more than one year | 42 | €2,985 | - | -€2,985 | |
| Financial debts | 43 | - | €359,524 | +€359,524 | |
| Credit institutions | 430/8 | - | €359,524 | +€359,524 | |
| Trade debts | 44 | €3,905 | €38,305 | +€34,400 | +881% |
| Suppliers | 440/4 | €3,905 | €38,305 | +€34,400 | +881% |
| Taxes, remuneration and social security | 45 | €10,587 | €212 | -€10,375 | -98.0% |
| Taxes | 450/3 | €10,587 | €212 | -€10,375 | -98.0% |
| Other amounts payable | 47/48 | €413,417 | €510,544 | +€97,128 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,069 | €15,321 | -€1,748 | -10.2% |
| Other operating charges | 640/8 | €651 | €740 | +€89 | +13.7% |
| Non-recurring operating charges | 66A | - | €26 | +€26 | |
| Gross operating margin | 9900 | €187,464 | €130,356 | -€57,108 | -30.5% |
| Operating profit (loss) | 9901 | €169,744 | €114,270 | -€55,475 | -32.7% |
| Financial income | 75/76B | €0 | €95 | +€95 | +52,894% |
| Recurring financial income | 75 | €0 | €95 | +€95 | +52,894% |
| Financial charges | 65/66B | €15,757 | €3,369 | -€12,388 | -78.6% |
| Recurring financial charges | 65 | €15,757 | €3,369 | -€12,388 | -78.6% |
| Profit (loss) for the period before taxes | 9903 | €153,988 | €110,996 | -€42,992 | -27.9% |
| Income taxes | 67/77 | €33,837 | €29,993 | -€3,844 | -11.4% |
| Profit (loss) for the period | 9904 | €120,151 | €81,003 | -€39,148 | -32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €120,151 | €81,003 | -€39,148 | -32.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.