WADEV: 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.
WADEV
Largest movements
- Cash -€13,492
down €13,492 (-33.8%), from €39,911 to €26,419
mainly Investment in fixed assets (net) (-€14,041) and Receivables within one year (-€10,979)
- Receivables within one year +€10,979
up €10,979 (+73.9%), from €14,855 to €25,834
of which Trade receivables: +€8,602
- Tangible fixed assets +€6,064
up €6,064 (+14.2%), from €42,791 to €48,855
of which Furniture and vehicles: +€8,504
- Stocks and contracts +€5,934
up €5,934 (+29.7%), from €19,995 to €25,929
- Deferred charges and accrued income -€4,359
down €4,359 (-80.8%), from €5,396 to €1,037
- Tax, wage and social debts +€8,648
up €8,648 (+29.8%), from €29,036 to €37,684
of which Remuneration and social security: +€9,304
- Debts after one year -€4,807
down €4,807 (-36.5%), from €13,171 to €8,364
- Trade debts -€4,062
down €4,062 (-40.1%), from €10,128 to €6,067
- Profit (loss) carried forward +€3,180
up €3,180 (+27.3%), from €11,636 to €14,816
- Current portion of long-term debt +€2,136
up €2,136 (+21.7%), from €9,839 to €11,975
- Staff costs +€43,338
up €43,338 (+54.2%), from €80,008 to €123,347
- Gross operating margin +€24,126
up €24,126 (+19.7%), from €122,279 to €146,405
- Other operating charges +€3,650
up €3,650 (+80.1%), from €4,556 to €8,206
- Taxes -€2,400
down €2,400 (-87.1%), from €2,755 to €356
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 | €128,949 | €134,074 | +€5,125 | +4.0% |
| Fixed assets | 21/28 | €48,791 | €54,855 | +€6,064 | +12.4% |
| Tangible fixed assets | 22/27 | €42,791 | €48,855 | +€6,064 | +14.2% |
| Furniture and vehicles | 24 | €4,500 | €13,004 | +€8,504 | +189% |
| Other tangible fixed assets | 26 | €38,291 | €35,851 | -€2,441 | -6.4% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €80,158 | €79,219 | -€938 | -1.2% |
| Stocks and contracts in progress | 3 | €19,995 | €25,929 | +€5,934 | +29.7% |
| Stocks | 30/36 | €19,995 | €25,929 | +€5,934 | +29.7% |
| Amounts receivable within one year | 40/41 | €14,855 | €25,834 | +€10,979 | +73.9% |
| Trade receivables | 40 | €10,145 | €18,747 | +€8,602 | +84.8% |
| Other amounts receivable | 41 | €4,710 | €7,087 | +€2,377 | +50.5% |
| Cash at bank and in hand | 54/58 | €39,911 | €26,419 | -€13,492 | -33.8% |
| Deferred charges and accrued income | 490/1 | €5,396 | €1,037 | -€4,359 | -80.8% |
| Total equity and liabilities | 10/49 | €128,949 | €134,074 | +€5,125 | +4.0% |
| Equity | 10/15 | €66,775 | €69,955 | +€3,180 | +4.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €35,139 | €35,139 | = | 0.0% |
| Distributable reserves | 133 | €35,139 | €35,139 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,636 | €14,816 | +€3,180 | +27.3% |
| Amounts payable | 17/49 | €62,174 | €64,119 | +€1,945 | +3.1% |
| Amounts payable after more than one year | 17 | €13,171 | €8,364 | -€4,807 | -36.5% |
| Financial debts | 170/4 | €13,171 | €8,364 | -€4,807 | -36.5% |
| Amounts payable within one year | 42/48 | €49,003 | €55,756 | +€6,752 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €9,839 | €11,975 | +€2,136 | +21.7% |
| Trade debts | 44 | €10,128 | €6,067 | -€4,062 | -40.1% |
| Suppliers | 440/4 | €10,128 | €6,067 | -€4,062 | -40.1% |
| Taxes, remuneration and social security | 45 | €29,036 | €37,684 | +€8,648 | +29.8% |
| Taxes | 450/3 | €16,457 | €15,801 | -€656 | -4.0% |
| Remuneration and social security | 454/9 | €12,579 | €21,883 | +€9,304 | +74.0% |
| Other amounts payable | 47/48 | - | €30 | +€30 | |
| Remuneration, social security and pensions | 62 | €80,008 | €123,347 | +€43,338 | +54.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,673 | €7,977 | -€696 | -8.0% |
| Other operating charges | 640/8 | €4,556 | €8,206 | +€3,650 | +80.1% |
| Gross operating margin | 9900 | €122,279 | €146,405 | +€24,126 | +19.7% |
| Operating profit (loss) | 9901 | €29,041 | €6,875 | -€22,166 | -76.3% |
| Financial income | 75/76B | €3,138 | €2,316 | -€821 | -26.2% |
| Recurring financial income | 75 | €3,138 | €2,316 | -€821 | -26.2% |
| Financial charges | 65/66B | €4,495 | €5,656 | +€1,161 | +25.8% |
| Recurring financial charges | 65 | €4,495 | €5,656 | +€1,161 | +25.8% |
| Profit (loss) for the period before taxes | 9903 | €27,684 | €3,536 | -€24,148 | -87.2% |
| Income taxes | 67/77 | €2,755 | €356 | -€2,400 | -87.1% |
| Profit (loss) for the period | 9904 | €24,929 | €3,180 | -€21,749 | -87.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,929 | €3,180 | -€21,749 | -87.2% |
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 30 October 2026 via checked.be.