Wambach: 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.
Wambach
Largest movements
- Tangible fixed assets +€327,394
up €327,394 (+200%), from €163,407 to €490,801
of which Land and buildings: +€328,267
- Stocks and contracts -€198,547
down €198,547 (-47.1%), from €421,220 to €222,672
- Cash -€14,882
down €14,882 (-48.7%), from €30,541 to €15,659
mainly Investment in fixed assets (net) (-€352,450) and Contributions, distributions and other (-€59,000)
- Receivables within one year +€13,190
up €13,190 (+68.9%), from €19,154 to €32,344
of which Trade receivables: +€16,046
- Debts after one year +€97,563
up €97,563 (+24.5%), from €397,846 to €495,408
- Other debts +€64,479
up €64,479 (+3,753%), from €1,718 to €66,197
- Current portion of long-term debt -€27,580
down €27,580 (-59.9%), from €46,017 to €18,437
- Tax, wage and social debts -€16,728
down €16,728 (-34.9%), from €47,873 to €31,145
of which Taxes: -€15,228
- Accrued charges and deferred income +€11,545
up €11,545 (+1,190%), from €970 to €12,515
- Gross operating margin +€46,264
up €46,264 (+57.4%), from €80,657 to €126,921
- Depreciation +€20,712
up €20,712 (+477%), from €4,344 to €25,056
- Taxes +€6,696
up €6,696 (+40.4%), from €16,592 to €23,288
- Financial charges -€1,657
down €1,657 (-8.3%), from €20,050 to €18,393
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 | €635,206 | €764,028 | +€128,821 | +20.3% |
| Fixed assets | 21/28 | €163,407 | €490,801 | +€327,394 | +200% |
| Tangible fixed assets | 22/27 | €163,407 | €490,801 | +€327,394 | +200% |
| Land and buildings | 22 | €161,510 | €489,777 | +€328,267 | +203% |
| Furniture and vehicles | 24 | €1,897 | €1,023 | -€873 | -46.0% |
| Current assets | 29/58 | €471,800 | €273,227 | -€198,573 | -42.1% |
| Stocks and contracts in progress | 3 | €421,220 | €222,672 | -€198,547 | -47.1% |
| Stocks | 30/36 | €421,220 | €222,672 | -€198,547 | -47.1% |
| Amounts receivable within one year | 40/41 | €19,154 | €32,344 | +€13,190 | +68.9% |
| Trade receivables | 40 | €16,298 | €32,344 | +€16,046 | +98.5% |
| Other amounts receivable | 41 | €2,856 | €0 | -€2,856 | -100% |
| Cash at bank and in hand | 54/58 | €30,541 | €15,659 | -€14,882 | -48.7% |
| Deferred charges and accrued income | 490/1 | €885 | €2,552 | +€1,666 | +188% |
| Total equity and liabilities | 10/49 | €635,206 | €764,028 | +€128,821 | +20.3% |
| Equity | 10/15 | €128,679 | €127,029 | -€1,650 | -1.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €127,679 | €126,029 | -€1,650 | -1.3% |
| Distributable reserves | 133 | €127,679 | €126,029 | -€1,650 | -1.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €506,528 | €636,999 | +€130,471 | +25.8% |
| Amounts payable after more than one year | 17 | €397,846 | €495,408 | +€97,563 | +24.5% |
| Financial debts | 170/4 | €397,846 | €495,408 | +€97,563 | +24.5% |
| Amounts payable within one year | 42/48 | €107,712 | €129,075 | +€21,363 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €46,017 | €18,437 | -€27,580 | -59.9% |
| Trade debts | 44 | €12,104 | €13,296 | +€1,191 | +9.8% |
| Suppliers | 440/4 | €12,104 | €13,296 | +€1,191 | +9.8% |
| Taxes, remuneration and social security | 45 | €47,873 | €31,145 | -€16,728 | -34.9% |
| Taxes | 450/3 | €46,373 | €31,145 | -€15,228 | -32.8% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100% |
| Other amounts payable | 47/48 | €1,718 | €66,197 | +€64,479 | +3,753% |
| Accrued charges and deferred income | 492/3 | €970 | €12,515 | +€11,545 | +1,190% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,344 | €25,056 | +€20,712 | +477% |
| Other operating charges | 640/8 | €2,355 | €3,041 | +€686 | +29.1% |
| Gross operating margin | 9900 | €80,657 | €126,921 | +€46,264 | +57.4% |
| Operating profit (loss) | 9901 | €73,959 | €98,824 | +€24,866 | +33.6% |
| Financial income | 75/76B | €19 | €207 | +€188 | +1,004% |
| Recurring financial income | 75 | €19 | €207 | +€188 | +1,004% |
| Financial charges | 65/66B | €20,050 | €18,393 | -€1,657 | -8.3% |
| Recurring financial charges | 65 | €20,050 | €18,393 | -€1,657 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €53,928 | €80,638 | +€26,711 | +49.5% |
| Income taxes | 67/77 | €16,592 | €23,288 | +€6,696 | +40.4% |
| Profit (loss) for the period | 9904 | €37,335 | €57,350 | +€20,015 | +53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,335 | €57,350 | +€20,015 | +53.6% |
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 25 October 2026 via checked.be.