WANDA: what changed
Two fiscal 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.
WANDA
Largest movements
- Tangible fixed assets +€7.1m
up €7.1m (+202.3%), from €3.5m to €10.6m
of which Land and buildings: +€7.1m
- Current investments -€2.1m
down €2.1m (-29.4%), from €7.2m to €5.1m
- Cash -€907,374
down €907,374 (-81.7%), from €1.1m to €203,856
mainly Investment in fixed assets (net) (-€7.5m) and Net result for the year (-€568,447)
- Receivables within one year +€266,127
up €266,127 (+94.5%), from €281,630 to €547,757
of which Other amounts receivable: +€266,127
- Debts after one year +€4.8m
up €4.8m (+84742.9%), from €5,648 to €4.8m
of which Financial debts: +€4.8m
- Profit (loss) carried forward -€564,512
down €564,512 (-13.6%), from €4.2m to €3.6m
- Taxes -€1.5m
down €1.5m (-100.0%), from €1.5m to €142
- Gross operating margin -€524,166
down €524,166, from €413,693 to -€110,473
- Depreciation +€310,762
up €310,762 (+196.1%), from €158,492 to €469,254
- Financial income -€91,359
down €91,359 (-42.0%), from €217,316 to €125,957
- Financial charges +€52,251
up €52,251 (+178.9%), from €29,204 to €81,455
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 | €12,131,871 | €16,440,103 | +€4.3m | +35.5% |
| Fixed assets | 21/28 | €3,497,249 | €10,566,852 | +€7.1m | +202.1% |
| Tangible fixed assets | 22/27 | €3,494,964 | €10,566,648 | +€7.1m | +202.3% |
| Land and buildings | 22 | €3,461,866 | €10,550,245 | +€7.1m | +204.8% |
| Plant, machinery and equipment | 23 | €1,452 | €1,089 | -€363 | -25.0% |
| Furniture and vehicles | 24 | €31,647 | €15,314 | -€16,333 | -51.6% |
| Financial fixed assets | 28 | €2,284 | €204 | -€2,080 | -91.1% |
| Current assets | 29/58 | €8,634,622 | €5,873,251 | -€2.8m | -32.0% |
| Amounts receivable within one year | 40/41 | €281,630 | €547,757 | +€266,127 | +94.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €281,630 | €547,757 | +€266,127 | +94.5% |
| Current investments | 50/53 | €7,222,697 | €5,098,630 | -€2.1m | -29.4% |
| Cash at bank and in hand | 54/58 | €1,111,230 | €203,856 | -€907,374 | -81.7% |
| Deferred charges and accrued income | 490/1 | €19,066 | €23,008 | +€3,942 | +20.7% |
| Total equity and liabilities | 10/49 | €12,131,871 | €16,440,103 | +€4.3m | +35.5% |
| Equity | 10/15 | €11,718,938 | €11,150,491 | -€568,447 | -4.9% |
| Contributions | 10/11 | €521,199 | €521,199 | = | 0.0% |
| Capital | 10 | €521,199 | €521,199 | = | 0.0% |
| Issued capital | 100 | €521,199 | €521,199 | = | 0.0% |
| Reserves | 13 | €7,035,696 | €7,031,762 | -€3,934 | -0.1% |
| Non-distributable reserves | 130/1 | €52,120 | €52,120 | = | 0.0% |
| Legal reserve | 130 | €52,120 | €52,120 | = | 0.0% |
| Tax-exempt reserves | 132 | €313,449 | €309,515 | -€3,934 | -1.3% |
| Distributable reserves | 133 | €6,670,127 | €6,670,127 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,162,043 | €3,597,530 | -€564,512 | -13.6% |
| Provisions and deferred taxes | 16 | €104,483 | €103,172 | -€1,311 | -1.3% |
| Deferred taxes | 168 | €104,483 | €103,172 | -€1,311 | -1.3% |
| Amounts payable | 17/49 | €308,451 | €5,186,440 | +€4.9m | +1581.4% |
| Amounts payable after more than one year | 17 | €5,648 | €4,791,900 | +€4.8m | +84742.9% |
| Financial debts | 170/4 | - | €4,786,252 | +€4.8m | |
| Other amounts payable | 178/9 | €5,648 | €5,648 | = | 0.0% |
| Amounts payable within one year | 42/48 | €300,391 | €389,628 | +€89,237 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | - | €108,348 | +€108,348 | |
| Trade debts | 44 | €15,131 | €161,116 | +€145,985 | +964.8% |
| Suppliers | 440/4 | €15,131 | €161,116 | +€145,985 | +964.8% |
| Taxes, remuneration and social security | 45 | €105,106 | €44 | -€105,062 | -100.0% |
| Taxes | 450/3 | €100,044 | €44 | -€100,000 | -100.0% |
| Remuneration and social security | 454/9 | €5,062 | €0 | -€5,062 | -100.0% |
| Other amounts payable | 47/48 | €180,154 | €120,121 | -€60,033 | -33.3% |
| Accrued charges and deferred income | 492/3 | €2,412 | €4,912 | +€2,500 | +103.7% |
| Non-recurring operating income | 76A | €417,932 | €0 | -€417,932 | -100.0% |
| Remuneration, social security and pensions | 62 | €13,585 | €0 | -€13,585 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,492 | €469,254 | +€310,762 | +196.1% |
| Other operating charges | 640/8 | €28,145 | €34,391 | +€6,246 | +22.2% |
| Gross operating margin | 9900 | €413,693 | -€110,473 | -€524,166 | |
| Operating profit (loss) | 9901 | €213,471 | -€614,118 | -€827,590 | |
| Financial income | 75/76B | €217,316 | €125,957 | -€91,359 | -42.0% |
| Recurring financial income | 75 | €217,316 | €125,957 | -€91,359 | -42.0% |
| Financial charges | 65/66B | €29,204 | €81,455 | +€52,251 | +178.9% |
| Recurring financial charges | 65 | €29,204 | €81,455 | +€52,251 | +178.9% |
| Profit (loss) for the period before taxes | 9903 | €401,583 | -€569,616 | -€971,200 | |
| Transfer from deferred taxes | 780 | €1,689,337 | €1,311 | -€1.7m | -99.9% |
| Transfer to deferred taxes | 680 | €104,483 | €0 | -€104,483 | -100.0% |
| Income taxes | 67/77 | €1,541,950 | €142 | -€1.5m | -100.0% |
| Profit (loss) for the period | 9904 | €444,488 | -€568,447 | -€1.0m | |
| Transfer from tax-exempt reserves | 789 | €5,068,011 | €3,934 | -€5.1m | -99.9% |
| Transfer to tax-exempt reserves | 689 | €313,449 | €0 | -€313,449 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,199,050 | -€564,512 | -€5.8m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.