WAEYS: 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.
WAEYS
Largest movements
- Receivables within one year +€37,915
up €37,915 (+114%), from €33,360 to €71,275
of which Trade receivables: +€38,242
- Tangible fixed assets +€11,378
up €11,378 (+15.4%), from €73,705 to €85,082
of which Other tangible fixed assets: +€26,744
- Reserves +€46,357
up €46,357 (+76.4%), from €60,698 to €107,055
- Tax, wage and social debts +€19,356
up €19,356 (+52.3%), from €36,979 to €56,336
of which Taxes: +€21,506
- Current portion of long-term debt -€11,462
down €11,462 (-57.1%), from €20,066 to €8,604
- Debts after one year -€8,604
down €8,604 (-100%), from €8,604 to €0
- Trade debts +€2,159
up €2,159 (+18.8%), from €11,477 to €13,636
- Depreciation +€9,940
up €9,940 (+117%), from €8,489 to €18,429
- Gross operating margin -€8,340
down €8,340 (-8.8%), from €94,493 to €86,153
- Taxes -€4,521
down €4,521 (-18.9%), from €23,861 to €19,340
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 | €156,126 | €205,592 | +€49,466 | +31.7% |
| Fixed assets | 21/28 | €73,705 | €85,082 | +€11,378 | +15.4% |
| Tangible fixed assets | 22/27 | €73,705 | €85,082 | +€11,378 | +15.4% |
| Plant, machinery and equipment | 23 | €10,815 | €9,852 | -€963 | -8.9% |
| Furniture and vehicles | 24 | €62,889 | €48,486 | -€14,404 | -22.9% |
| Other tangible fixed assets | 26 | - | €26,744 | +€26,744 | |
| Current assets | 29/58 | €82,421 | €120,509 | +€38,088 | +46.2% |
| Amounts receivable within one year | 40/41 | €33,360 | €71,275 | +€37,915 | +114% |
| Trade receivables | 40 | €33,033 | €71,275 | +€38,242 | +116% |
| Other amounts receivable | 41 | €327 | €0 | -€327 | -100% |
| Cash at bank and in hand | 54/58 | €47,804 | €48,037 | +€233 | +0.5% |
| Deferred charges and accrued income | 490/1 | €1,258 | €1,198 | -€60 | -4.8% |
| Total equity and liabilities | 10/49 | €156,126 | €205,592 | +€49,466 | +31.7% |
| Equity | 10/15 | €62,698 | €109,055 | +€46,357 | +73.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €60,698 | €107,055 | +€46,357 | +76.4% |
| Distributable reserves | 133 | €60,698 | €107,055 | +€46,357 | +76.4% |
| Amounts payable | 17/49 | €93,427 | €96,536 | +€3,109 | +3.3% |
| Amounts payable after more than one year | 17 | €8,604 | €0 | -€8,604 | -100% |
| Financial debts | 170/4 | €8,604 | €0 | -€8,604 | -100% |
| Amounts payable within one year | 42/48 | €84,824 | €95,493 | +€10,669 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €20,066 | €8,604 | -€11,462 | -57.1% |
| Trade debts | 44 | €11,477 | €13,636 | +€2,159 | +18.8% |
| Suppliers | 440/4 | €11,477 | €13,636 | +€2,159 | +18.8% |
| Taxes, remuneration and social security | 45 | €36,979 | €56,336 | +€19,356 | +52.3% |
| Taxes | 450/3 | €34,829 | €56,336 | +€21,506 | +61.7% |
| Remuneration and social security | 454/9 | €2,150 | €0 | -€2,150 | -100% |
| Other amounts payable | 47/48 | €16,301 | €16,917 | +€616 | +3.8% |
| Accrued charges and deferred income | 492/3 | - | €1,044 | +€1,044 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,489 | €18,429 | +€9,940 | +117% |
| Other operating charges | 640/8 | €517 | €148 | -€369 | -71.4% |
| Gross operating margin | 9900 | €94,493 | €86,153 | -€8,340 | -8.8% |
| Operating profit (loss) | 9901 | €85,486 | €67,575 | -€17,911 | -21.0% |
| Financial income | 75/76B | €180 | €93 | -€87 | -48.1% |
| Recurring financial income | 75 | €180 | €93 | -€87 | -48.1% |
| Financial charges | 65/66B | €1,107 | €1,972 | +€865 | +78.1% |
| Recurring financial charges | 65 | €1,107 | €1,972 | +€865 | +78.1% |
| Profit (loss) for the period before taxes | 9903 | €84,559 | €65,697 | -€18,863 | -22.3% |
| Income taxes | 67/77 | €23,861 | €19,340 | -€4,521 | -18.9% |
| Profit (loss) for the period | 9904 | €60,698 | €46,357 | -€14,342 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €60,698 | €46,357 | -€14,342 | -23.6% |
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 27 October 2026 via checked.be.