WAG: 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.
WAG
Largest movements
- Cash -€289,909
down €289,909 (-46.4%), from €624,889 to €334,980
mainly Contributions, distributions and other (-€285,361) and Investment in fixed assets (net) (-€98,713)
- Tangible fixed assets +€84,974
new in 2025: €84,974
- Contributions -€250,000
down €250,000 (-38.5%), from €650,000 to €400,000
- Other debts +€35,335
up €35,335 (+137438.7%), from €26 to €35,361
- Gross operating margin +€48,004
up €48,004 (+111.4%), from €43,110 to €91,114
- Depreciation +€13,739
new in 2025: €13,739
- Financial income -€9,853
down €9,853 (-40.8%), from €24,161 to €14,308
- Taxes +€4,825
up €4,825 (+55.3%), from €8,726 to €13,551
- Staff costs +€1,576
up €1,576 (+4.0%), from €39,736 to €41,312
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 | €757,737 | €552,693 | -€205,043 | -27.1% |
| Fixed assets | 21/28 | €225 | €85,199 | +€84,974 | +37766.3% |
| Tangible fixed assets | 22/27 | - | €84,974 | +€84,974 | |
| Furniture and vehicles | 24 | - | €84,974 | +€84,974 | |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €757,512 | €467,494 | -€290,018 | -38.3% |
| Amounts receivable after more than one year | 29 | €14,000 | €12,000 | -€2,000 | -14.3% |
| Other amounts receivable | 291 | €14,000 | €12,000 | -€2,000 | -14.3% |
| Amounts receivable within one year | 40/41 | €6,052 | €8,128 | +€2,076 | +34.3% |
| Trade receivables | 40 | €89 | €100 | +€11 | +12.1% |
| Other amounts receivable | 41 | €5,963 | €8,029 | +€2,065 | +34.6% |
| Current investments | 50/53 | €111,381 | €111,381 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €624,889 | €334,980 | -€289,909 | -46.4% |
| Deferred charges and accrued income | 490/1 | €1,190 | €1,005 | -€185 | -15.5% |
| Total equity and liabilities | 10/49 | €757,737 | €552,693 | -€205,043 | -27.1% |
| Equity | 10/15 | €752,135 | €502,135 | -€250,000 | -33.2% |
| Contributions | 10/11 | €650,000 | €400,000 | -€250,000 | -38.5% |
| Reserves | 13 | €102,135 | €102,135 | = | 0.0% |
| Distributable reserves | 133 | €102,135 | €102,135 | = | 0.0% |
| Amounts payable | 17/49 | €5,602 | €50,559 | +€44,957 | +802.5% |
| Amounts payable within one year | 42/48 | €5,602 | €48,971 | +€43,369 | +774.2% |
| Trade debts | 44 | - | €1,891 | +€1,891 | |
| Suppliers | 440/4 | - | €1,891 | +€1,891 | |
| Taxes, remuneration and social security | 45 | €5,576 | €11,719 | +€6,143 | +110.2% |
| Taxes | 450/3 | - | €5,943 | +€5,943 | |
| Remuneration and social security | 454/9 | €5,576 | €5,776 | +€200 | +3.6% |
| Other amounts payable | 47/48 | €26 | €35,361 | +€35,335 | +137438.7% |
| Accrued charges and deferred income | 492/3 | - | €1,588 | +€1,588 | |
| Remuneration, social security and pensions | 62 | €39,736 | €41,312 | +€1,576 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €13,739 | +€13,739 | |
| Other operating charges | 640/8 | €566 | €579 | +€12 | +2.2% |
| Gross operating margin | 9900 | €43,110 | €91,114 | +€48,004 | +111.4% |
| Operating profit (loss) | 9901 | €2,808 | €35,485 | +€32,677 | +1163.8% |
| Financial income | 75/76B | €24,161 | €14,308 | -€9,853 | -40.8% |
| Recurring financial income | 75 | €24,161 | €14,308 | -€9,853 | -40.8% |
| Financial charges | 65/66B | €789 | €881 | +€92 | +11.7% |
| Recurring financial charges | 65 | €789 | €881 | +€92 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | €26,180 | €48,912 | +€22,732 | +86.8% |
| Income taxes | 67/77 | €8,726 | €13,551 | +€4,825 | +55.3% |
| Profit (loss) for the period | 9904 | €17,454 | €35,361 | +€17,907 | +102.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,454 | €35,361 | +€17,907 | +102.6% |
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 8 October 2026 via checked.be.