WAMFAM: 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.
WAMFAM
Largest movements
- Financial fixed assets -€233.4m
down €233.4m (-15.2%), from €1.54bn to €1.31bn
of which Other financial fixed assets: -€335.2m
- Current investments +€168.8m
up €168.8m (+515%), from €32.8m to €201.5m
- Receivables within one year +€51.9m
up €51.9m (+70,313%), from €73,781 to €52.0m
of which Other amounts receivable: +€51.8m
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€43.8m
down €43.8m (-70.3%), from €62.4m to €18.5m
of which Non-recurring financial income: -€24.2m
- Financial charges +€18.2m
up €18.2m (+16,222,773%), from €112 to €18.2m
of which Non-recurring financial charges: +€17.7m
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 | €1,571,545,836 | €1,566,206,634 | -€5.3m | -0.3% |
| Fixed assets | 21/28 | €1,538,510,367 | €1,305,138,479 | -€233.4m | -15.2% |
| Financial fixed assets | 28 | €1,538,510,367 | €1,305,138,479 | -€233.4m | -15.2% |
| Affiliated companies | 280/1 | - | €101,851,968 | +€101.9m | |
| Participating interests | 280 | - | €101,851,968 | +€101.9m | |
| Other financial fixed assets | 284/8 | €1,538,510,367 | €1,203,286,511 | -€335.2m | -21.8% |
| Shares | 284 | €1,538,510,367 | €1,203,286,511 | -€335.2m | -21.8% |
| Current assets | 29/58 | €33,035,469 | €261,068,155 | +€228.0m | +690% |
| Amounts receivable after more than one year | 29 | - | €2,635,000 | +€2.6m | |
| Other amounts receivable | 291 | - | €2,635,000 | +€2.6m | |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €73,781 | €51,951,470 | +€51.9m | +70,313% |
| Trade receivables | 40 | - | €28,198 | +€28,198 | |
| Other amounts receivable | 41 | €73,781 | €51,923,272 | +€51.8m | +70,275% |
| Current investments | 50/53 | €32,783,720 | €201,541,651 | +€168.8m | +515% |
| Other investments | 51/53 | €32,783,720 | €201,541,651 | +€168.8m | +515% |
| Cash at bank and in hand | 54/58 | €177,968 | €4,548,152 | +€4.4m | +2,456% |
| Deferred charges and accrued income | 490/1 | €0 | €391,882 | +€391,882 | |
| Total equity and liabilities | 10/49 | €1,571,545,836 | €1,566,206,634 | -€5.3m | -0.3% |
| Equity | 10/15 | €1,571,513,720 | €1,565,949,521 | -€5.6m | -0.4% |
| Contributions | 10/11 | €1,588,880,000 | €1,584,580,000 | -€4.3m | -0.3% |
| Profit (loss) carried forward | 14 | -€17,366,280 | -€18,630,479 | -€1.3m | -7.3% |
| Amounts payable | 17/49 | €32,116 | €257,114 | +€224,998 | +701% |
| Amounts payable within one year | 42/48 | €22,116 | €247,114 | +€224,998 | +1,017% |
| Trade debts | 44 | €22,116 | €247,114 | +€224,998 | +1,017% |
| Suppliers | 440/4 | €22,116 | €247,114 | +€224,998 | +1,017% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €10,000 | €10,000 | = | 0.0% |
| Operating charges | 60/66A | €274,071 | €1,502,719 | +€1.2m | +448% |
| Services and other goods | 61 | €274,071 | €1,502,719 | +€1.2m | +448% |
| Operating profit (loss) | 9901 | -€274,071 | -€1,502,719 | -€1.2m | -448% |
| Financial income | 75/76B | €62,382,933 | €18,544,795 | -€43.8m | -70.3% |
| Recurring financial income | 75 | €31,753,162 | €12,097,406 | -€19.7m | -61.9% |
| Income from financial fixed assets | 750 | €31,197,364 | €10,610,804 | -€20.6m | -66.0% |
| Income from current assets | 751 | €433,038 | €1,486,602 | +€1.1m | +243% |
| Other financial income | 752/9 | €122,760 | €0 | -€122,760 | -100.0% |
| Non-recurring financial income | 76B | €30,629,771 | €6,447,389 | -€24.2m | -79.0% |
| Financial charges | 65/66B | €112 | €18,155,018 | +€18.2m | +16,222,773% |
| Recurring financial charges | 65 | €112 | €488,776 | +€488,664 | +436,658% |
| Other financial charges | 652/9 | €112 | €488,776 | +€488,664 | +436,658% |
| Non-recurring financial charges | 66B | €0 | €17,666,242 | +€17.7m | |
| Profit (loss) for the period before taxes | 9903 | €62,108,750 | -€1,112,941 | -€63.2m | |
| Income taxes | 67/77 | €60,065 | €151,259 | +€91,194 | +152% |
| Taxes | 670/3 | €60,065 | €151,259 | +€91,194 | +152% |
| Profit (loss) for the period | 9904 | €62,048,685 | -€1,264,199 | -€63.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €62,048,685 | -€1,264,199 | -€63.3m |
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 24 October 2026 via checked.be.