WADY: 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.
WADY
Largest movements
- Tangible fixed assets +€91,823
up €91,823 (+6.5%), from €1.4m to €1.5m
of which Plant, machinery and equipment: +€130,643
- Other debts +€103,945
up €103,945 (+6.8%), from €1.5m to €1.6m
- Profit (loss) carried forward +€46,436
up €46,436 (+5.2%), from -€889,336 to -€842,900
- Reserves -€24,219
down €24,219 (-9.5%), from €255,734 to €231,515
of which Tax-exempt reserves: -€24,219
- Debts after one year -€20,571
down €20,571 (-49.1%), from €41,923 to €21,352
- Gross operating margin +€27,429
up €27,429 (+17.8%), from €154,347 to €181,776
- Depreciation +€14,806
up €14,806 (+10.4%), from €141,990 to €156,796
- Financial charges -€3,998
down €3,998 (-26.9%), from €14,878 to €10,880
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 | €1,473,925 | €1,573,385 | +€99,461 | +6.7% |
| Fixed assets | 21/28 | €1,406,052 | €1,497,875 | +€91,823 | +6.5% |
| Tangible fixed assets | 22/27 | €1,405,207 | €1,497,031 | +€91,823 | +6.5% |
| Land and buildings | 22 | €437,637 | €403,056 | -€34,581 | -7.9% |
| Plant, machinery and equipment | 23 | €946,524 | €1,077,167 | +€130,643 | +13.8% |
| Furniture and vehicles | 24 | €21,046 | €16,808 | -€4,238 | -20.1% |
| Financial fixed assets | 28 | €845 | €845 | = | 0.0% |
| Current assets | 29/58 | €67,873 | €75,510 | +€7,637 | +11.3% |
| Amounts receivable within one year | 40/41 | €372 | - | -€372 | |
| Other amounts receivable | 41 | €372 | - | -€372 | |
| Cash at bank and in hand | 54/58 | €21,412 | €23,582 | +€2,170 | +10.1% |
| Deferred charges and accrued income | 490/1 | €46,088 | €51,928 | +€5,840 | +12.7% |
| Total equity and liabilities | 10/49 | €1,473,925 | €1,573,385 | +€99,461 | +6.7% |
| Equity | 10/15 | -€205,985 | -€183,769 | +€22,217 | +10.8% |
| Contributions | 10/11 | €427,616 | €427,616 | = | 0.0% |
| Capital | 10 | €427,616 | €427,616 | = | 0.0% |
| Issued capital | 100 | €427,616 | €427,616 | = | 0.0% |
| Reserves | 13 | €255,734 | €231,515 | -€24,219 | -9.5% |
| Non-distributable reserves | 130/1 | €3,424 | €3,424 | = | 0.0% |
| Legal reserve | 130 | €3,424 | €3,424 | = | 0.0% |
| Tax-exempt reserves | 132 | €252,310 | €228,091 | -€24,219 | -9.6% |
| Profit (loss) carried forward | 14 | -€889,336 | -€842,900 | +€46,436 | +5.2% |
| Provisions and deferred taxes | 16 | €69,833 | €60,504 | -€9,329 | -13.4% |
| Deferred taxes | 168 | €69,833 | €60,504 | -€9,329 | -13.4% |
| Amounts payable | 17/49 | €1,610,077 | €1,696,650 | +€86,573 | +5.4% |
| Amounts payable after more than one year | 17 | €41,923 | €21,352 | -€20,571 | -49.1% |
| Financial debts | 170/4 | €41,923 | €21,352 | -€20,571 | -49.1% |
| Amounts payable within one year | 42/48 | €1,556,089 | €1,665,337 | +€109,248 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €19,820 | €20,571 | +€752 | +3.8% |
| Trade debts | 44 | €11,633 | €16,370 | +€4,736 | +40.7% |
| Suppliers | 440/4 | €11,633 | €16,370 | +€4,736 | +40.7% |
| Taxes, remuneration and social security | 45 | €298 | €112 | -€186 | -62.4% |
| Taxes | 450/3 | €298 | €112 | -€186 | -62.4% |
| Other amounts payable | 47/48 | €1,524,339 | €1,628,284 | +€103,945 | +6.8% |
| Accrued charges and deferred income | 492/3 | €12,065 | €9,961 | -€2,104 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,990 | €156,796 | +€14,806 | +10.4% |
| Other operating charges | 640/8 | €1,069 | €1,101 | +€33 | +3.1% |
| Gross operating margin | 9900 | €154,347 | €181,776 | +€27,429 | +17.8% |
| Operating profit (loss) | 9901 | €11,289 | €23,879 | +€12,590 | +111.5% |
| Financial income | 75/76B | €1,595 | €0 | -€1,595 | -100.0% |
| Recurring financial income | 75 | €1,595 | €0 | -€1,595 | -100.0% |
| Financial charges | 65/66B | €14,878 | €10,880 | -€3,998 | -26.9% |
| Recurring financial charges | 65 | €14,878 | €10,880 | -€3,998 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,994 | €12,999 | +€14,994 | |
| Transfer from deferred taxes | 780 | €11,552 | €9,329 | -€2,224 | -19.3% |
| Income taxes | 67/77 | €107 | €111 | +€5 | +4.3% |
| Profit (loss) for the period | 9904 | €9,452 | €22,217 | +€12,765 | +135.1% |
| Transfer from tax-exempt reserves | 789 | €28,333 | €24,219 | -€4,114 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,784 | €46,436 | +€8,651 | +22.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.