WAFT: 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.
WAFT
Largest movements
- Cash -€52,906
down €52,906 (-49.6%), from €106,637 to €53,731
mainly Other debts (-€25,000) and Investment in fixed assets (net) (-€19,119)
- Receivables within one year -€7,541
down €7,541 (-14.8%), from €50,845 to €43,304
of which Trade receivables: -€41,869
- Tangible fixed assets +€5,796
up €5,796 (+11.5%), from €50,517 to €56,313
of which Other tangible fixed assets: +€15,229
- Deferred charges and accrued income -€3,573
down €3,573 (-21.2%), from €16,869 to €13,295
- Other debts -€25,000
no longer reported in 2025 (was €25,000)
- Accrued charges and deferred income -€17,283
down €17,283 (-22.2%), from €77,840 to €60,557
- Reserves -€12,284
down €12,284 (-6.4%), from €192,691 to €180,407
- Tax, wage and social debts -€3,519
down €3,519 (-51.3%), from €6,859 to €3,340
of which Taxes: -€2,514
- Gross operating margin -€86,697
down €86,697 (-79.7%), from €108,765 to €22,069
- Taxes -€18,590
down €18,590 (-86.2%), from €21,575 to €2,985
- Write-downs -€7,404
no longer reported in 2025 (was €7,404)
- Depreciation +€1,749
up €1,749 (+15.1%), from €11,574 to €13,323
- Financial charges -€1,231
down €1,231 (-31.0%), from €3,965 to €2,734
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 | €338,693 | €280,006 | -€58,687 | -17.3% |
| Fixed assets | 21/28 | €50,562 | €56,358 | +€5,796 | +11.5% |
| Tangible fixed assets | 22/27 | €50,517 | €56,313 | +€5,796 | +11.5% |
| Land and buildings | 22 | €17,403 | €15,045 | -€2,359 | -13.6% |
| Plant, machinery and equipment | 23 | €1,988 | €1,385 | -€603 | -30.3% |
| Furniture and vehicles | 24 | €12,374 | €5,902 | -€6,472 | -52.3% |
| Other tangible fixed assets | 26 | €18,753 | €33,982 | +€15,229 | +81.2% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €288,131 | €223,647 | -€64,483 | -22.4% |
| Stocks and contracts in progress | 3 | €113,780 | €113,317 | -€462 | -0.4% |
| Stocks | 30/36 | €113,780 | €113,317 | -€462 | -0.4% |
| Amounts receivable within one year | 40/41 | €50,845 | €43,304 | -€7,541 | -14.8% |
| Trade receivables | 40 | €46,940 | €5,071 | -€41,869 | -89.2% |
| Other amounts receivable | 41 | €3,905 | €38,233 | +€34,328 | +879.0% |
| Cash at bank and in hand | 54/58 | €106,637 | €53,731 | -€52,906 | -49.6% |
| Deferred charges and accrued income | 490/1 | €16,869 | €13,295 | -€3,573 | -21.2% |
| Total equity and liabilities | 10/49 | €338,693 | €280,006 | -€58,687 | -17.3% |
| Equity | 10/15 | €211,291 | €199,007 | -€12,284 | -5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €192,691 | €180,407 | -€12,284 | -6.4% |
| Distributable reserves | 133 | €192,691 | €180,407 | -€12,284 | -6.4% |
| Amounts payable | 17/49 | €127,402 | €80,999 | -€46,403 | -36.4% |
| Amounts payable within one year | 42/48 | €49,561 | €20,442 | -€29,119 | -58.8% |
| Trade debts | 44 | €17,702 | €17,101 | -€600 | -3.4% |
| Suppliers | 440/4 | €17,702 | €17,101 | -€600 | -3.4% |
| Taxes, remuneration and social security | 45 | €6,859 | €3,340 | -€3,519 | -51.3% |
| Taxes | 450/3 | €3,184 | €670 | -€2,514 | -78.9% |
| Remuneration and social security | 454/9 | €3,675 | €2,670 | -€1,005 | -27.3% |
| Other amounts payable | 47/48 | €25,000 | - | -€25,000 | |
| Accrued charges and deferred income | 492/3 | €77,840 | €60,557 | -€17,283 | -22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,574 | €13,323 | +€1,749 | +15.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,404 | - | -€7,404 | |
| Other operating charges | 640/8 | €1,568 | €1,739 | +€170 | +10.8% |
| Gross operating margin | 9900 | €108,765 | €22,069 | -€86,697 | -79.7% |
| Operating profit (loss) | 9901 | €88,219 | €7,007 | -€81,211 | -92.1% |
| Financial income | 75/76B | €1,534 | €1,327 | -€207 | -13.5% |
| Recurring financial income | 75 | €1,534 | €1,327 | -€207 | -13.5% |
| Financial charges | 65/66B | €3,965 | €2,734 | -€1,231 | -31.0% |
| Recurring financial charges | 65 | €3,965 | €2,734 | -€1,231 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €85,788 | €5,601 | -€80,188 | -93.5% |
| Income taxes | 67/77 | €21,575 | €2,985 | -€18,590 | -86.2% |
| Profit (loss) for the period | 9904 | €64,213 | €2,616 | -€61,597 | -95.9% |
| Profit (loss) for the period to be appropriated | 9905 | €64,213 | €2,616 | -€61,597 | -95.9% |
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 11 October 2026 via checked.be.