Wagtmans: 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.
Wagtmans
Largest movements
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Cash +€19,155
up €19,155 (+86.8%), from €22,063 to €41,218
mainly Net result for the year (+€52,754) and Current investments (+€50,000)
- Tangible fixed assets -€4,786
down €4,786 (-67.2%), from €7,122 to €2,335
- Reserves -€36,415
down €36,415 (-48.2%), from €75,532 to €39,117
- Other debts +€1,802
new in 2025: €1,802
- Tax, wage and social debts -€1,206
down €1,206 (-12.0%), from €10,049 to €8,843
of which Taxes: -€2,087
- Gross operating margin +€18,641
up €18,641 (+32.2%), from €57,946 to €76,587
- Taxes +€3,956
up €3,956 (+26.4%), from €15,013 to €18,969
- Financial income -€974
down €974 (-55.7%), from €1,750 to €776
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 | €88,969 | €53,742 | -€35,227 | -39.6% |
| Fixed assets | 21/28 | €7,122 | €2,335 | -€4,786 | -67.2% |
| Tangible fixed assets | 22/27 | €7,122 | €2,335 | -€4,786 | -67.2% |
| Furniture and vehicles | 24 | €7,122 | €2,335 | -€4,786 | -67.2% |
| Current assets | 29/58 | €81,847 | €51,406 | -€30,441 | -37.2% |
| Amounts receivable within one year | 40/41 | €9,297 | €9,504 | +€207 | +2.2% |
| Trade receivables | 40 | €7,621 | €9,504 | +€1,883 | +24.7% |
| Other amounts receivable | 41 | €1,675 | - | -€1,675 | |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €22,063 | €41,218 | +€19,155 | +86.8% |
| Deferred charges and accrued income | 490/1 | €488 | €685 | +€197 | +40.4% |
| Total equity and liabilities | 10/49 | €88,969 | €53,742 | -€35,227 | -39.6% |
| Equity | 10/15 | €78,532 | €42,117 | -€36,415 | -46.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €75,532 | €39,117 | -€36,415 | -48.2% |
| Distributable reserves | 133 | €75,532 | €39,117 | -€36,415 | -48.2% |
| Amounts payable | 17/49 | €10,437 | €11,624 | +€1,188 | +11.4% |
| Amounts payable within one year | 42/48 | €10,437 | €11,562 | +€1,126 | +10.8% |
| Trade debts | 44 | €387 | €917 | +€530 | +137% |
| Suppliers | 440/4 | €387 | €917 | +€530 | +137% |
| Taxes, remuneration and social security | 45 | €10,049 | €8,843 | -€1,206 | -12.0% |
| Taxes | 450/3 | €9,049 | €6,962 | -€2,087 | -23.1% |
| Remuneration and social security | 454/9 | €1,000 | €1,881 | +€881 | +88.1% |
| Other amounts payable | 47/48 | - | €1,802 | +€1,802 | |
| Accrued charges and deferred income | 492/3 | - | €62 | +€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,334 | €4,786 | +€452 | +10.4% |
| Other operating charges | 640/8 | €1,045 | €843 | -€203 | -19.4% |
| Gross operating margin | 9900 | €57,946 | €76,587 | +€18,641 | +32.2% |
| Operating profit (loss) | 9901 | €52,567 | €70,958 | +€18,391 | +35.0% |
| Financial income | 75/76B | €1,750 | €776 | -€974 | -55.7% |
| Recurring financial income | 75 | €1,750 | €776 | -€974 | -55.7% |
| Financial charges | 65/66B | €135 | €11 | -€124 | -91.9% |
| Recurring financial charges | 65 | €135 | €11 | -€124 | -91.9% |
| Profit (loss) for the period before taxes | 9903 | €54,182 | €71,723 | +€17,541 | +32.4% |
| Income taxes | 67/77 | €15,013 | €18,969 | +€3,956 | +26.4% |
| Profit (loss) for the period | 9904 | €39,169 | €52,754 | +€13,585 | +34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,169 | €52,754 | +€13,585 | +34.7% |
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 18 October 2026 via checked.be.