WADECU: 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.
WADECU
Largest movements
- Cash +€1.1m
up €1.1m (+132%), from €862,318 to €2.0m
mainly Receivables within one year (+€553,357) and Net result for the year (+€368,477)
- Receivables within one year -€553,357
down €553,357 (-82.3%), from €672,700 to €119,343
of which Other amounts receivable: -€504,427
- Current investments -€163,627
down €163,627 (-33.6%), from €487,232 to €323,606
- Deferred charges and accrued income -€59,769
down €59,769 (-84.6%), from €70,628 to €10,859
- Tangible fixed assets -€35,926
down €35,926 (-22.6%), from €159,104 to €123,179
of which Land and buildings: -€19,201
- Reserves +€360,811
up €360,811 (+16.6%), from €2.2m to €2.5m
of which Distributable reserves: +€234,511
- Gross operating margin +€262,600
up €262,600 (+102%), from €257,469 to €520,069
- Taxes +€67,989
up €67,989 (+82.7%), from €82,259 to €150,248
- Financial income -€17,281
down €17,281 (-28.6%), from €60,434 to €43,153
of which Financial income: -€17,281
- Depreciation -€5,245
down €5,245 (-12.3%), from €42,569 to €37,324
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 | €2,251,983 | €2,574,999 | +€323,016 | +14.3% |
| Fixed assets | 21/28 | €159,104 | €123,179 | -€35,926 | -22.6% |
| Tangible fixed assets | 22/27 | €159,104 | €123,179 | -€35,926 | -22.6% |
| Land and buildings | 22 | €120,554 | €101,352 | -€19,201 | -15.9% |
| Plant, machinery and equipment | 23 | €10,868 | €7,344 | -€3,525 | -32.4% |
| Furniture and vehicles | 24 | €27,682 | €14,482 | -€13,200 | -47.7% |
| Current assets | 29/58 | €2,092,879 | €2,451,820 | +€358,942 | +17.2% |
| Amounts receivable within one year | 40/41 | €672,700 | €119,343 | -€553,357 | -82.3% |
| Trade receivables | 40 | €101,495 | €52,566 | -€48,929 | -48.2% |
| Other amounts receivable | 41 | €571,205 | €66,777 | -€504,427 | -88.3% |
| Current investments | 50/53 | €487,232 | €323,606 | -€163,627 | -33.6% |
| Cash at bank and in hand | 54/58 | €862,318 | €1,998,013 | +€1.1m | +132% |
| Deferred charges and accrued income | 490/1 | €70,628 | €10,859 | -€59,769 | -84.6% |
| Total equity and liabilities | 10/49 | €2,251,983 | €2,574,999 | +€323,016 | +14.3% |
| Equity | 10/15 | €2,184,690 | €2,545,502 | +€360,811 | +16.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,178,490 | €2,539,302 | +€360,811 | +16.6% |
| Tax-exempt reserves | 132 | €210,500 | €336,800 | +€126,300 | +60.0% |
| Distributable reserves | 133 | €1,967,990 | €2,202,502 | +€234,511 | +11.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €67,292 | €29,497 | -€37,795 | -56.2% |
| Amounts payable after more than one year | 17 | €16,253 | €5,559 | -€10,694 | -65.8% |
| Financial debts | 170/4 | €16,253 | €5,559 | -€10,694 | -65.8% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €50,099 | €23,869 | -€26,231 | -52.4% |
| Current portion of amounts payable after more than one year | 42 | €10,215 | €11,592 | +€1,377 | +13.5% |
| Trade debts | 44 | €19,255 | €7,200 | -€12,056 | -62.6% |
| Suppliers | 440/4 | €19,255 | €7,200 | -€12,056 | -62.6% |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €20,629 | €2,889 | -€17,740 | -86.0% |
| Taxes | 450/3 | €16,118 | €634 | -€15,485 | -96.1% |
| Remuneration and social security | 454/9 | €4,511 | €2,255 | -€2,255 | -50.0% |
| Other amounts payable | 47/48 | €0 | €2,188 | +€2,188 | |
| Accrued charges and deferred income | 492/3 | €940 | €69 | -€870 | -92.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €491 | €0 | -€491 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,569 | €37,324 | -€5,245 | -12.3% |
| Other operating charges | 640/8 | €7,065 | €5,922 | -€1,143 | -16.2% |
| Gross operating margin | 9900 | €257,469 | €520,069 | +€262,600 | +102% |
| Operating profit (loss) | 9901 | €207,344 | €476,823 | +€269,479 | +130% |
| Financial income | 75/76B | €60,434 | €43,153 | -€17,281 | -28.6% |
| Recurring financial income | 75 | €60,434 | €43,153 | -€17,281 | -28.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €2,844 | €1,250 | -€1,594 | -56.0% |
| Recurring financial charges | 65 | €2,844 | €1,250 | -€1,594 | -56.0% |
| Profit (loss) for the period before taxes | 9903 | €264,933 | €518,725 | +€253,792 | +95.8% |
| Income taxes | 67/77 | €82,259 | €150,248 | +€67,989 | +82.7% |
| Profit (loss) for the period | 9904 | €182,674 | €368,477 | +€185,803 | +102% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €0 | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €182,674 | €242,177 | +€59,503 | +32.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.