WAGE: 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.
WAGE
Largest movements
- Current investments -€750,000
no longer reported in 2025 (was €750,000)
- Tangible fixed assets +€472,824
up €472,824 (+14.7%), from €3.2m to €3.7m
of which Land and buildings: +€496,288
- Receivables within one year +€177,934
up €177,934 (+29.0%), from €612,727 to €790,660
of which Other amounts receivable: +€182,491
- Cash +€134,076
up €134,076 (+11.4%), from €1.2m to €1.3m
mainly Current investments (+€750,000) and Depreciation (+€240,007)
No liability line moved by more than 1% of the balance sheet total.
- Other operating charges +€25,912
up €25,912 (+80.2%), from €32,327 to €58,239
- Financial charges -€17,625
down €17,625 (-19.6%), from €90,005 to €72,380
- Financial income +€17,615
up €17,615 (+23.2%), from €75,903 to €93,517
- Depreciation +€3,479
up €3,479 (+1.5%), from €236,528 to €240,007
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 | €5,943,002 | €6,021,994 | +€78,992 | +1.3% |
| Fixed assets | 21/28 | €3,379,024 | €3,880,932 | +€501,909 | +14.9% |
| Tangible fixed assets | 22/27 | €3,209,809 | €3,682,633 | +€472,824 | +14.7% |
| Land and buildings | 22 | €3,085,641 | €3,581,929 | +€496,288 | +16.1% |
| Plant, machinery and equipment | 23 | €94,253 | €76,889 | -€17,364 | -18.4% |
| Furniture and vehicles | 24 | €29,915 | €23,815 | -€6,100 | -20.4% |
| Financial fixed assets | 28 | €169,215 | €198,300 | +€29,085 | +17.2% |
| Current assets | 29/58 | €2,563,978 | €2,141,062 | -€422,917 | -16.5% |
| Amounts receivable within one year | 40/41 | €612,727 | €790,660 | +€177,934 | +29.0% |
| Trade receivables | 40 | €4,557 | - | -€4,557 | |
| Other amounts receivable | 41 | €608,170 | €790,660 | +€182,491 | +30.0% |
| Current investments | 50/53 | €750,000 | - | -€750,000 | |
| Cash at bank and in hand | 54/58 | €1,179,862 | €1,313,938 | +€134,076 | +11.4% |
| Deferred charges and accrued income | 490/1 | €21,390 | €36,464 | +€15,074 | +70.5% |
| Total equity and liabilities | 10/49 | €5,943,002 | €6,021,994 | +€78,992 | +1.3% |
| Equity | 10/15 | €4,283,640 | €4,269,776 | -€13,864 | -0.3% |
| Contributions | 10/11 | €1,090,000 | €1,090,000 | = | 0.0% |
| Capital | 10 | €1,090,000 | €1,090,000 | = | 0.0% |
| Issued capital | 100 | €1,090,000 | €1,090,000 | = | 0.0% |
| Reserves | 13 | €3,193,640 | €3,179,776 | -€13,864 | -0.4% |
| Non-distributable reserves | 130/1 | €109,000 | €109,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €109,000 | €109,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €116,313 | €104,682 | -€11,631 | -10.0% |
| Distributable reserves | 133 | €2,968,327 | €2,966,094 | -€2,233 | -0.1% |
| Provisions and deferred taxes | 16 | €38,771 | €34,894 | -€3,877 | -10.0% |
| Deferred taxes | 168 | €38,771 | €34,894 | -€3,877 | -10.0% |
| Amounts payable | 17/49 | €1,620,591 | €1,717,324 | +€96,733 | +6.0% |
| Amounts payable after more than one year | 17 | €1,000,000 | €1,000,000 | = | 0.0% |
| Financial debts | 170/4 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €531,418 | €636,713 | +€105,295 | +19.8% |
| Trade debts | 44 | €20,343 | €68,421 | +€48,078 | +236% |
| Suppliers | 440/4 | €20,343 | €68,421 | +€48,078 | +236% |
| Taxes, remuneration and social security | 45 | €491 | €3,652 | +€3,161 | +644% |
| Taxes | 450/3 | €491 | €3,652 | +€3,161 | +644% |
| Other amounts payable | 47/48 | €510,584 | €564,640 | +€54,056 | +10.6% |
| Accrued charges and deferred income | 492/3 | €89,173 | €80,611 | -€8,562 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €236,528 | €240,007 | +€3,479 | +1.5% |
| Other operating charges | 640/8 | €32,327 | €58,239 | +€25,912 | +80.2% |
| Gross operating margin | 9900 | €260,369 | €261,186 | +€817 | +0.3% |
| Operating profit (loss) | 9901 | -€8,486 | -€37,061 | -€28,575 | -337% |
| Financial income | 75/76B | €75,903 | €93,517 | +€17,615 | +23.2% |
| Recurring financial income | 75 | €75,903 | €93,517 | +€17,615 | +23.2% |
| Financial charges | 65/66B | €90,005 | €72,380 | -€17,625 | -19.6% |
| Recurring financial charges | 65 | €90,005 | €72,380 | -€17,625 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | -€22,588 | -€15,924 | +€6,665 | +29.5% |
| Transfer from deferred taxes | 780 | €3,877 | €3,877 | = | 0.0% |
| Income taxes | 67/77 | €512 | €1,818 | +€1,306 | +255% |
| Profit (loss) for the period | 9904 | -€19,223 | -€13,864 | +€5,359 | +27.9% |
| Transfer from tax-exempt reserves | 789 | €11,631 | €11,631 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,592 | -€2,233 | +€5,359 | +70.6% |
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 14 October 2026 via checked.be.