WAMCO: 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.
WAMCO
Largest movements
- Financial fixed assets +€924,348
up €924,348 (+25.7%), from €3.6m to €4.5m
- Cash -€214,789
down €214,789 (-93.5%), from €229,830 to €15,040
mainly Investment in fixed assets (net) (-€960,416) and Other debts (-€218,082)
- Debts after one year +€731,310
up €731,310 (+19.4%), from €3.8m to €4.5m
of which Other amounts payable: +€756,450
- Other debts -€218,082
no longer reported in 2025 (was €218,082)
- Accrued charges and deferred income +€104,959
up €104,959 (+29.1%), from €360,197 to €465,157
- Profit (loss) carried forward +€63,938
up €63,938 (+20.2%), from -€316,833 to -€252,895
- Financial income -€63,669
down €63,669 (-35.4%), from €180,006 to €116,337
- Financial charges -€26,385
down €26,385 (-14.3%), from €184,714 to €158,329
- Depreciation +€10,048
up €10,048 (+19.3%), from €52,186 to €62,234
- Gross operating margin +€3,683
up €3,683 (+1.7%), from €212,374 to €216,057
- Staff costs +€2,255
up €2,255 (+5.2%), from €43,222 to €45,477
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 | €4,078,476 | €4,770,017 | +€691,540 | +17.0% |
| Fixed assets | 21/28 | €3,820,587 | €4,718,769 | +€898,182 | +23.5% |
| Tangible fixed assets | 22/27 | €220,587 | €194,421 | -€26,166 | -11.9% |
| Land and buildings | 22 | €19,565 | €18,601 | -€963 | -4.9% |
| Plant, machinery and equipment | 23 | €7,082 | €11,231 | +€4,149 | +58.6% |
| Furniture and vehicles | 24 | €193,941 | €164,589 | -€29,352 | -15.1% |
| Financial fixed assets | 28 | €3,600,000 | €4,524,348 | +€924,348 | +25.7% |
| Current assets | 29/58 | €257,889 | €51,247 | -€206,642 | -80.1% |
| Amounts receivable within one year | 40/41 | €22,088 | €28,537 | +€6,449 | +29.2% |
| Trade receivables | 40 | €21,780 | €25,652 | +€3,872 | +17.8% |
| Other amounts receivable | 41 | €308 | €2,885 | +€2,577 | +836.4% |
| Cash at bank and in hand | 54/58 | €229,830 | €15,040 | -€214,789 | -93.5% |
| Deferred charges and accrued income | 490/1 | €5,972 | €7,670 | +€1,699 | +28.4% |
| Total equity and liabilities | 10/49 | €4,078,476 | €4,770,017 | +€691,540 | +17.0% |
| Equity | 10/15 | -€310,633 | -€246,695 | +€63,938 | +20.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€316,833 | -€252,895 | +€63,938 | +20.2% |
| Amounts payable | 17/49 | €4,389,109 | €5,016,712 | +€627,603 | +14.3% |
| Amounts payable after more than one year | 17 | €3,767,494 | €4,498,804 | +€731,310 | +19.4% |
| Financial debts | 170/4 | €73,944 | €48,804 | -€25,140 | -34.0% |
| Other amounts payable | 178/9 | €3,693,550 | €4,450,000 | +€756,450 | +20.5% |
| Amounts payable within one year | 42/48 | €261,418 | €52,751 | -€208,667 | -79.8% |
| Current portion of amounts payable after more than one year | 42 | €24,147 | €25,140 | +€993 | +4.1% |
| Trade debts | 44 | €3,144 | €9,485 | +€6,342 | +201.7% |
| Suppliers | 440/4 | €3,144 | €9,485 | +€6,342 | +201.7% |
| Taxes, remuneration and social security | 45 | €16,046 | €18,126 | +€2,080 | +13.0% |
| Taxes | 450/3 | €9,997 | €11,938 | +€1,941 | +19.4% |
| Remuneration and social security | 454/9 | €6,048 | €6,188 | +€139 | +2.3% |
| Other amounts payable | 47/48 | €218,082 | - | -€218,082 | |
| Accrued charges and deferred income | 492/3 | €360,197 | €465,157 | +€104,959 | +29.1% |
| Remuneration, social security and pensions | 62 | €43,222 | €45,477 | +€2,255 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,186 | €62,234 | +€10,048 | +19.3% |
| Other operating charges | 640/8 | €1,996 | €1,753 | -€243 | -12.2% |
| Gross operating margin | 9900 | €212,374 | €216,057 | +€3,683 | +1.7% |
| Operating profit (loss) | 9901 | €114,970 | €106,593 | -€8,377 | -7.3% |
| Financial income | 75/76B | €180,006 | €116,337 | -€63,669 | -35.4% |
| Recurring financial income | 75 | €180,006 | €116,337 | -€63,669 | -35.4% |
| Financial charges | 65/66B | €184,714 | €158,329 | -€26,385 | -14.3% |
| Recurring financial charges | 65 | €184,714 | €158,329 | -€26,385 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €110,262 | €64,602 | -€45,660 | -41.4% |
| Income taxes | 67/77 | €692 | €665 | -€27 | -3.9% |
| Profit (loss) for the period | 9904 | €109,571 | €63,938 | -€45,633 | -41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €109,571 | €63,938 | -€45,633 | -41.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.