WANDIE: 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.
WANDIE
Largest movements
- Receivables within one year -€159,107
down €159,107 (-76.4%), from €208,263 to €49,156
of which Trade receivables: -€160,964
- Tangible fixed assets -€77,912
down €77,912 (-10.0%), from €777,439 to €699,527
of which Plant, machinery and equipment: -€55,946
- Profit (loss) carried forward -€121,501
down €121,501 (-91.5%), from -€132,798 to -€254,299
- Trade debts -€105,382
down €105,382 (-20.1%), from €524,172 to €418,790
- Debts after one year -€62,119
down €62,119 (-9.9%), from €625,842 to €563,723
- Other debts +€59,162
up €59,162 (+67.7%), from €87,405 to €146,566
- Tax, wage and social debts -€19,034
down €19,034 (-38.8%), from €49,076 to €30,042
of which Taxes: -€17,833
- Gross operating margin +€38,012
up €38,012 (+18.7%), from €203,065 to €241,077
- Staff costs +€33,446
up €33,446 (+17.3%), from €193,772 to €227,217
- Financial charges -€12,112
down €12,112 (-22.7%), from €53,432 to €41,320
- Other operating charges +€4,784
up €4,784 (+443%), from €1,081 to €5,864
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 | €1,237,638 | €993,201 | -€244,437 | -19.8% |
| Formation expenses | 20 | €2,156 | €1,592 | -€564 | -26.2% |
| Fixed assets | 21/28 | €783,669 | €705,108 | -€78,562 | -10.0% |
| Intangible fixed assets | 21 | €5,671 | €5,021 | -€650 | -11.5% |
| Tangible fixed assets | 22/27 | €777,439 | €699,527 | -€77,912 | -10.0% |
| Plant, machinery and equipment | 23 | €579,468 | €523,522 | -€55,946 | -9.7% |
| Other tangible fixed assets | 26 | €197,971 | €176,005 | -€21,966 | -11.1% |
| Financial fixed assets | 28 | €560 | €560 | = | 0.0% |
| Current assets | 29/58 | €451,812 | €286,501 | -€165,311 | -36.6% |
| Stocks and contracts in progress | 3 | €221,392 | €213,878 | -€7,514 | -3.4% |
| Stocks | 30/36 | €221,392 | €213,878 | -€7,514 | -3.4% |
| Amounts receivable within one year | 40/41 | €208,263 | €49,156 | -€159,107 | -76.4% |
| Trade receivables | 40 | €208,263 | €47,299 | -€160,964 | -77.3% |
| Other amounts receivable | 41 | - | €1,857 | +€1,857 | |
| Cash at bank and in hand | 54/58 | €22,157 | €23,467 | +€1,310 | +5.9% |
| Total equity and liabilities | 10/49 | €1,237,638 | €993,201 | -€244,437 | -19.8% |
| Equity | 10/15 | -€117,798 | -€239,299 | -€121,501 | -103% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,798 | -€254,299 | -€121,501 | -91.5% |
| Amounts payable | 17/49 | €1,355,436 | €1,232,500 | -€122,936 | -9.1% |
| Amounts payable after more than one year | 17 | €625,842 | €563,723 | -€62,119 | -9.9% |
| Financial debts | 170/4 | €625,842 | €563,723 | -€62,119 | -9.9% |
| Amounts payable within one year | 42/48 | €726,969 | €666,040 | -€60,929 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €65,938 | €70,641 | +€4,703 | +7.1% |
| Financial debts | 43 | €377 | €0 | -€377 | -100% |
| Credit institutions | 430/8 | €377 | €0 | -€377 | -100% |
| Trade debts | 44 | €524,172 | €418,790 | -€105,382 | -20.1% |
| Suppliers | 440/4 | €524,172 | €418,790 | -€105,382 | -20.1% |
| Taxes, remuneration and social security | 45 | €49,076 | €30,042 | -€19,034 | -38.8% |
| Taxes | 450/3 | €19,460 | €1,626 | -€17,833 | -91.6% |
| Remuneration and social security | 454/9 | €29,617 | €28,416 | -€1,201 | -4.1% |
| Other amounts payable | 47/48 | €87,405 | €146,566 | +€59,162 | +67.7% |
| Accrued charges and deferred income | 492/3 | €2,625 | €2,738 | +€113 | +4.3% |
| Remuneration, social security and pensions | 62 | €193,772 | €227,217 | +€33,446 | +17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,516 | €87,999 | +€483 | +0.6% |
| Other operating charges | 640/8 | €1,081 | €5,864 | +€4,784 | +443% |
| Gross operating margin | 9900 | €203,065 | €241,077 | +€38,012 | +18.7% |
| Operating profit (loss) | 9901 | -€79,304 | -€80,005 | -€701 | -0.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €53,432 | €41,320 | -€12,112 | -22.7% |
| Recurring financial charges | 65 | €53,432 | €41,320 | -€12,112 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | -€132,736 | -€121,324 | +€11,412 | +8.6% |
| Income taxes | 67/77 | €62 | €178 | +€115 | +185% |
| Profit (loss) for the period | 9904 | -€132,798 | -€121,501 | +€11,297 | +8.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€132,798 | -€121,501 | +€11,297 | +8.5% |
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.