WACAR: 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.
WACAR
Largest movements
- Stocks and contracts -€1.4m
down €1.4m (-50.1%), from €2.7m to €1.4m
- Receivables within one year +€86,512
up €86,512 (+68.9%), from €125,495 to €212,007
- Cash +€41,560
up €41,560 (+9.9%), from €418,054 to €459,614
mainly Stocks and contracts (+€1.4m) and Debts after one year (+€550,000)
- Trade debts -€943,569
down €943,569 (-61.8%), from €1.5m to €584,317
- Other debts -€592,114
down €592,114 (-77.5%), from €763,797 to €171,682
- Debts after one year +€550,000
new in 2025: €550,000
- Profit (loss) carried forward -€131,973
down €131,973 (-13.9%), from €946,576 to €814,603
- Tax, wage and social debts -€83,083
down €83,083 (-52.1%), from €159,408 to €76,325
of which Taxes: -€64,220
- Turnover -€1.8m
down €1.8m (-23.7%), from €7.6m to €5.8m
- Purchases and services -€1.4m
down €1.4m (-20.5%), from €6.7m to €5.3m
- Gross operating margin -€392,648
down €392,648 (-48.0%), from €817,217 to €424,569
- Taxes -€97,435
down €97,435 (-99.6%), from €97,785 to €349
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 | €3,600,656 | €2,340,354 | -€1.3m | -35.0% |
| Fixed assets | 21/28 | €167,040 | €147,532 | -€19,508 | -11.7% |
| Tangible fixed assets | 22/27 | €166,990 | €147,483 | -€19,508 | -11.7% |
| Plant, machinery and equipment | 23 | €15,345 | €40,677 | +€25,332 | +165.1% |
| Furniture and vehicles | 24 | €136,853 | €84,585 | -€52,269 | -38.2% |
| Other tangible fixed assets | 26 | €14,792 | €22,221 | +€7,429 | +50.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €3,433,616 | €2,192,822 | -€1.2m | -36.1% |
| Stocks and contracts in progress | 3 | €2,749,520 | €1,371,311 | -€1.4m | -50.1% |
| Stocks | 30/36 | €2,749,520 | €1,371,311 | -€1.4m | -50.1% |
| Amounts receivable within one year | 40/41 | €125,495 | €212,007 | +€86,512 | +68.9% |
| Trade receivables | 40 | €125,495 | €212,007 | +€86,512 | +68.9% |
| Cash at bank and in hand | 54/58 | €418,054 | €459,614 | +€41,560 | +9.9% |
| Deferred charges and accrued income | 490/1 | €140,547 | €149,890 | +€9,343 | +6.6% |
| Total equity and liabilities | 10/49 | €3,600,656 | €2,340,354 | -€1.3m | -35.0% |
| Equity | 10/15 | €967,036 | €835,063 | -€131,973 | -13.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €946,576 | €814,603 | -€131,973 | -13.9% |
| Amounts payable | 17/49 | €2,633,620 | €1,505,291 | -€1.1m | -42.8% |
| Amounts payable after more than one year | 17 | - | €550,000 | +€550,000 | |
| Other amounts payable | 178/9 | - | €550,000 | +€550,000 | |
| Amounts payable within one year | 42/48 | €2,471,727 | €841,482 | -€1.6m | -66.0% |
| Trade debts | 44 | €1,527,886 | €584,317 | -€943,569 | -61.8% |
| Suppliers | 440/4 | €1,527,886 | €584,317 | -€943,569 | -61.8% |
| Advances received on contracts in progress | 46 | €20,635 | €9,158 | -€11,478 | -55.6% |
| Taxes, remuneration and social security | 45 | €159,408 | €76,325 | -€83,083 | -52.1% |
| Taxes | 450/3 | €102,554 | €38,334 | -€64,220 | -62.6% |
| Remuneration and social security | 454/9 | €56,854 | €37,991 | -€18,863 | -33.2% |
| Other amounts payable | 47/48 | €763,797 | €171,682 | -€592,114 | -77.5% |
| Accrued charges and deferred income | 492/3 | €161,894 | €113,809 | -€48,085 | -29.7% |
| Turnover | 70 | €7,563,135 | €5,772,573 | -€1.8m | -23.7% |
| Non-recurring operating income | 76A | €5,782 | - | -€5,782 | |
| Goods, raw materials, services and sundry goods | 60/61 | €6,730,258 | €5,348,004 | -€1.4m | -20.5% |
| Remuneration, social security and pensions | 62 | €295,961 | €300,867 | +€4,906 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,820 | €59,538 | +€5,718 | +10.6% |
| Other operating charges | 640/8 | €11,110 | €39,344 | +€28,234 | +254.1% |
| Gross operating margin | 9900 | €817,217 | €424,569 | -€392,648 | -48.0% |
| Operating profit (loss) | 9901 | €456,326 | €24,819 | -€431,507 | -94.6% |
| Financial income | 75/76B | €41 | €6 | -€35 | -85.1% |
| Recurring financial income | 75 | €41 | €6 | -€35 | -85.1% |
| Financial charges | 65/66B | €128,306 | €56,449 | -€71,857 | -56.0% |
| Recurring financial charges | 65 | €128,306 | €56,449 | -€71,857 | -56.0% |
| Profit (loss) for the period before taxes | 9903 | €328,061 | -€31,624 | -€359,685 | |
| Income taxes | 67/77 | €97,785 | €349 | -€97,435 | -99.6% |
| Profit (loss) for the period | 9904 | €230,276 | -€31,973 | -€262,249 | |
| Profit (loss) for the period to be appropriated | 9905 | €230,276 | -€31,973 | -€262,249 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.