WADO: 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.
WADO
Largest movements
- Receivables within one year -€51,778
down €51,778 (-25.2%), from €205,549 to €153,772
of which Trade receivables: -€57,996
- Stocks and contracts +€30,745
up €30,745 (+18.6%), from €164,935 to €195,680
- Tangible fixed assets -€29,107
down €29,107 (-21.0%), from €138,426 to €109,318
of which Furniture and vehicles: -€28,996
- Cash +€16,480
up €16,480 (+9.9%), from €166,303 to €182,783
mainly Net result for the year (+€77,887) and Receivables within one year (+€51,778)
- Trade debts -€28,854
down €28,854 (-45.2%), from €63,798 to €34,943
- Profit (loss) carried forward +€25,030
up €25,030 (+28.8%), from €86,880 to €111,910
- Debts after one year -€14,250
down €14,250 (-47.9%), from €29,726 to €15,476
- Tax, wage and social debts -€10,781
down €10,781 (-34.1%), from €31,575 to €20,794
of which Taxes: -€7,535
- Reserves +€10,000
up €10,000 (+2.5%), from €401,531 to €411,531
of which Distributable reserves: +€10,000
- Staff costs -€5,832
down €5,832 (-9.6%), from €60,518 to €54,685
- Taxes +€4,230
up €4,230 (+21.6%), from €19,555 to €23,785
- Gross operating margin +€3,453
up €3,453 (+1.7%), from €203,221 to €206,674
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 | €684,786 | €655,334 | -€29,451 | -4.3% |
| Fixed assets | 21/28 | €140,926 | €111,818 | -€29,107 | -20.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €138,426 | €109,318 | -€29,107 | -21.0% |
| Land and buildings | 22 | €50,955 | €46,387 | -€4,568 | -9.0% |
| Plant, machinery and equipment | 23 | €8,024 | €12,481 | +€4,457 | +55.6% |
| Furniture and vehicles | 24 | €79,447 | €50,451 | -€28,996 | -36.5% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €543,860 | €543,516 | -€344 | -0.1% |
| Stocks and contracts in progress | 3 | €164,935 | €195,680 | +€30,745 | +18.6% |
| Stocks | 30/36 | €164,935 | €195,680 | +€30,745 | +18.6% |
| Amounts receivable within one year | 40/41 | €205,549 | €153,772 | -€51,778 | -25.2% |
| Trade receivables | 40 | €195,091 | €137,095 | -€57,996 | -29.7% |
| Other amounts receivable | 41 | €10,459 | €16,677 | +€6,218 | +59.5% |
| Cash at bank and in hand | 54/58 | €166,303 | €182,783 | +€16,480 | +9.9% |
| Deferred charges and accrued income | 490/1 | €7,072 | €11,281 | +€4,209 | +59.5% |
| Total equity and liabilities | 10/49 | €684,786 | €655,334 | -€29,451 | -4.3% |
| Equity | 10/15 | €507,011 | €542,041 | +€35,030 | +6.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €401,531 | €411,531 | +€10,000 | +2.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €399,671 | €409,671 | +€10,000 | +2.5% |
| Profit (loss) carried forward | 14 | €86,880 | €111,910 | +€25,030 | +28.8% |
| Amounts payable | 17/49 | €177,775 | €113,293 | -€64,481 | -36.3% |
| Amounts payable after more than one year | 17 | €29,726 | €15,476 | -€14,250 | -47.9% |
| Financial debts | 170/4 | €29,726 | €15,476 | -€14,250 | -47.9% |
| Amounts payable within one year | 42/48 | €148,047 | €97,812 | -€50,235 | -33.9% |
| Current portion of amounts payable after more than one year | 42 | €22,605 | €14,250 | -€8,354 | -37.0% |
| Trade debts | 44 | €63,798 | €34,943 | -€28,854 | -45.2% |
| Suppliers | 440/4 | €63,798 | €34,943 | -€28,854 | -45.2% |
| Taxes, remuneration and social security | 45 | €31,575 | €20,794 | -€10,781 | -34.1% |
| Taxes | 450/3 | €25,126 | €17,590 | -€7,535 | -30.0% |
| Remuneration and social security | 454/9 | €6,449 | €3,203 | -€3,246 | -50.3% |
| Other amounts payable | 47/48 | €30,070 | €27,825 | -€2,246 | -7.5% |
| Accrued charges and deferred income | 492/3 | €1 | €5 | +€4 | +420% |
| Remuneration, social security and pensions | 62 | €60,518 | €54,685 | -€5,832 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,110 | €40,277 | +€168 | +0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,860 | €6,649 | +€789 | +13.5% |
| Gross operating margin | 9900 | €203,221 | €206,674 | +€3,453 | +1.7% |
| Operating profit (loss) | 9901 | €96,734 | €105,062 | +€8,329 | +8.6% |
| Financial income | 75/76B | €40 | €8 | -€31 | -79.1% |
| Recurring financial income | 75 | €40 | €8 | -€31 | -79.1% |
| Financial charges | 65/66B | €4,551 | €3,399 | -€1,153 | -25.3% |
| Recurring financial charges | 65 | €4,551 | €3,399 | -€1,153 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €92,222 | €101,672 | +€9,450 | +10.2% |
| Income taxes | 67/77 | €19,555 | €23,785 | +€4,230 | +21.6% |
| Profit (loss) for the period | 9904 | €72,667 | €77,887 | +€5,220 | +7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,667 | €77,887 | +€5,220 | +7.2% |
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 25 October 2026 via checked.be.