WAN KOU: what changed
WAN KOU
Largest movements
- Cash -€25,085
down €25,085 (-19.9%), from €126,159 to €101,074
mainly Tax, wage and social debts (-€15,866) and Investment in fixed assets (net) (-€8,162)
- Tangible fixed assets +€4,987
up €4,987 (+74.0%), from €6,737 to €11,724
of which Furniture and vehicles: +€6,551
- Tax, wage and social debts -€15,866
down €15,866 (-70.3%), from €22,566 to €6,700
of which Taxes: -€11,166
- Reserves +€7,947
up €7,947 (+5.6%), from €142,084 to €150,031
of which Distributable reserves: +€7,947
- Trade debts -€7,802
down €7,802 (-66.7%), from €11,691 to €3,888
- Current portion of long-term debt -€3,500
no longer reported in 2025 (was €3,500)
- Gross operating margin -€24,726
down €24,726 (-59.7%), from €41,434 to €16,708
- Financial charges -€8,363
down €8,363 (-85.0%), from €9,837 to €1,474
- Taxes -€5,786
down €5,786 (-54.4%), from €10,643 to €4,858
- Depreciation -€5,543
down €5,543 (-65.1%), from €8,519 to €2,975
- Financial income +€1,145
up €1,145 (+90.6%), from €1,264 to €2,409
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €198,433 | €179,212 | -€19,221 | -9.7% |
| Fixed assets | 21/28 | €8,592 | €13,778 | +€5,187 | +60.4% |
| Tangible fixed assets | 22/27 | €6,737 | €11,724 | +€4,987 | +74.0% |
| Plant, machinery and equipment | 23 | €1,107 | €442 | -€664 | -60.0% |
| Furniture and vehicles | 24 | €3,833 | €10,384 | +€6,551 | +171% |
| Other tangible fixed assets | 26 | €1,798 | €898 | -€900 | -50.1% |
| Financial fixed assets | 28 | €1,854 | €2,054 | +€200 | +10.8% |
| Current assets | 29/58 | €189,842 | €165,433 | -€24,408 | -12.9% |
| Stocks and contracts in progress | 3 | €7,739 | €7,739 | = | 0.0% |
| Stocks | 30/36 | €7,739 | €7,739 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €53,930 | €53,470 | -€460 | -0.9% |
| Trade receivables | 40 | €10,729 | - | -€10,729 | |
| Other amounts receivable | 41 | €43,201 | €53,470 | +€10,269 | +23.8% |
| Cash at bank and in hand | 54/58 | €126,159 | €101,074 | -€25,085 | -19.9% |
| Deferred charges and accrued income | 490/1 | €2,014 | €3,151 | +€1,137 | +56.5% |
| Total equity and liabilities | 10/49 | €198,433 | €179,212 | -€19,221 | -9.7% |
| Equity | 10/15 | €160,676 | €168,623 | +€7,947 | +4.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €142,084 | €150,031 | +€7,947 | +5.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,900 | €14,900 | = | 0.0% |
| Distributable reserves | 133 | €125,325 | €133,272 | +€7,947 | +6.3% |
| Amounts payable | 17/49 | €37,757 | €10,589 | -€27,168 | -72.0% |
| Amounts payable within one year | 42/48 | €37,757 | €10,589 | -€27,168 | -72.0% |
| Current portion of amounts payable after more than one year | 42 | €3,500 | - | -€3,500 | |
| Trade debts | 44 | €11,691 | €3,888 | -€7,802 | -66.7% |
| Suppliers | 440/4 | €11,691 | €3,888 | -€7,802 | -66.7% |
| Taxes, remuneration and social security | 45 | €22,566 | €6,700 | -€15,866 | -70.3% |
| Taxes | 450/3 | €17,866 | €6,700 | -€11,166 | -62.5% |
| Remuneration and social security | 454/9 | €4,700 | - | -€4,700 | |
| Non-recurring operating income | 76A | - | €5,217 | +€5,217 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,519 | €2,975 | -€5,543 | -65.1% |
| Other operating charges | 640/8 | €2,113 | €1,862 | -€251 | -11.9% |
| Gross operating margin | 9900 | €41,434 | €16,708 | -€24,726 | -59.7% |
| Operating profit (loss) | 9901 | €30,802 | €11,870 | -€18,932 | -61.5% |
| Financial income | 75/76B | €1,264 | €2,409 | +€1,145 | +90.6% |
| Recurring financial income | 75 | €1,264 | €2,409 | +€1,145 | +90.6% |
| Financial charges | 65/66B | €9,837 | €1,474 | -€8,363 | -85.0% |
| Recurring financial charges | 65 | €9,837 | €1,474 | -€8,363 | -85.0% |
| Profit (loss) for the period before taxes | 9903 | €22,228 | €12,804 | -€9,424 | -42.4% |
| Income taxes | 67/77 | €10,643 | €4,858 | -€5,786 | -54.4% |
| Profit (loss) for the period | 9904 | €11,585 | €7,947 | -€3,638 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,585 | €7,947 | -€3,638 | -31.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.