WAN FA CHENG: 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.
WAN FA CHENG
Largest movements
- Deferred charges and accrued income +€41,261
up €41,261 (+649%), from €6,356 to €47,617
- Receivables within one year -€34,119
down €34,119 (-84.3%), from €40,452 to €6,333
of which Other amounts receivable: -€30,759
- Cash -€12,281
down €12,281 (-20.9%), from €58,695 to €46,414
mainly Deferred charges and accrued income (-€41,261) and Investment in fixed assets (net) (-€29,155)
- Tangible fixed assets +€11,259
up €11,259 (+39.5%), from €28,482 to €39,741
of which Plant, machinery and equipment: +€9,528
- Stocks and contracts +€2,479
up €2,479 (+51.0%), from €4,863 to €7,342
- Reserves +€17,554
up €17,554 (+28.0%), from €62,713 to €80,267
of which Distributable reserves: +€17,554
- Tax, wage and social debts -€5,740
down €5,740 (-52.6%), from €10,920 to €5,180
- Trade debts -€3,215
no longer reported in 2025 (was €3,215)
- Depreciation +€10,781
up €10,781 (+152%), from €7,115 to €17,896
- Staff costs +€5,994
up €5,994 (+141%), from €4,259 to €10,252
- Gross operating margin -€2,432
down €2,432 (-4.3%), from €56,765 to €54,334
- Taxes -€674
down €674 (-7.6%), from €8,907 to €8,232
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 | €138,848 | €147,447 | +€8,599 | +6.2% |
| Fixed assets | 21/28 | €28,482 | €39,741 | +€11,259 | +39.5% |
| Tangible fixed assets | 22/27 | €28,482 | €39,741 | +€11,259 | +39.5% |
| Plant, machinery and equipment | 23 | €2,382 | €11,911 | +€9,528 | +400% |
| Furniture and vehicles | 24 | €12,200 | €16,383 | +€4,183 | +34.3% |
| Other tangible fixed assets | 26 | €13,899 | €11,447 | -€2,453 | -17.6% |
| Current assets | 29/58 | €110,367 | €107,707 | -€2,660 | -2.4% |
| Stocks and contracts in progress | 3 | €4,863 | €7,342 | +€2,479 | +51.0% |
| Stocks | 30/36 | €4,863 | €7,342 | +€2,479 | +51.0% |
| Amounts receivable within one year | 40/41 | €40,452 | €6,333 | -€34,119 | -84.3% |
| Trade receivables | 40 | €8,636 | €5,277 | -€3,360 | -38.9% |
| Other amounts receivable | 41 | €31,816 | €1,057 | -€30,759 | -96.7% |
| Cash at bank and in hand | 54/58 | €58,695 | €46,414 | -€12,281 | -20.9% |
| Deferred charges and accrued income | 490/1 | €6,356 | €47,617 | +€41,261 | +649% |
| Total equity and liabilities | 10/49 | €138,848 | €147,447 | +€8,599 | +6.2% |
| Equity | 10/15 | €124,713 | €142,267 | +€17,554 | +14.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €62,713 | €80,267 | +€17,554 | +28.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €56,513 | €74,067 | +€17,554 | +31.1% |
| Amounts payable | 17/49 | €14,135 | €5,180 | -€8,955 | -63.4% |
| Amounts payable within one year | 42/48 | €14,135 | €5,180 | -€8,955 | -63.4% |
| Trade debts | 44 | €3,215 | - | -€3,215 | |
| Suppliers | 440/4 | €3,215 | - | -€3,215 | |
| Taxes, remuneration and social security | 45 | €10,920 | €5,180 | -€5,740 | -52.6% |
| Taxes | 450/3 | €10,920 | €5,180 | -€5,740 | -52.6% |
| Non-recurring operating income | 76A | €6,337 | €6,417 | +€80 | +1.3% |
| Remuneration, social security and pensions | 62 | €4,259 | €10,252 | +€5,994 | +141% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,115 | €17,896 | +€10,781 | +152% |
| Other operating charges | 640/8 | - | €402 | +€402 | |
| Gross operating margin | 9900 | €56,765 | €54,334 | -€2,432 | -4.3% |
| Operating profit (loss) | 9901 | €45,392 | €25,784 | -€19,608 | -43.2% |
| Financial income | 75/76B | €3 | €3 | -€0 | -12.8% |
| Recurring financial income | 75 | €3 | €3 | -€0 | -12.8% |
| Financial charges | 65/66B | €1 | - | -€1 | |
| Recurring financial charges | 65 | €1 | - | -€1 | |
| Profit (loss) for the period before taxes | 9903 | €45,395 | €25,786 | -€19,608 | -43.2% |
| Income taxes | 67/77 | €8,907 | €8,232 | -€674 | -7.6% |
| Profit (loss) for the period | 9904 | €36,488 | €17,554 | -€18,934 | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,488 | €17,554 | -€18,934 | -51.9% |
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.