WANDMAN: 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.
WANDMAN
Largest movements
- Current investments -€79,972
no longer reported in 2025 (was €79,972)
- Tangible fixed assets -€43,774
down €43,774 (-17.2%), from €254,735 to €210,960
- Cash +€30,612
up €30,612 (+91.0%), from €33,651 to €64,263
mainly Current investments (+€79,972) and Depreciation (+€76,899)
- Deferred charges and accrued income +€19,730
up €19,730 (+204%), from €9,684 to €29,414
- Stocks and contracts -€15,891
down €15,891 (-12.8%), from €123,684 to €107,794
- Debts after one year -€115,421
down €115,421 (-68.1%), from €169,413 to €53,992
- Reserves +€61,900
up €61,900 (+33.2%), from €186,526 to €248,427
- Tax, wage and social debts -€14,460
down €14,460 (-25.2%), from €57,489 to €43,030
of which Remuneration and social security: -€9,164
- Advances received +€11,904
up €11,904 (+122%), from €9,727 to €21,631
- Other debts -€10,226
no longer reported in 2025 (was €10,226)
- Gross operating margin -€36,977
down €36,977 (-9.5%), from €387,803 to €350,826
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 | €575,562 | €489,898 | -€85,664 | -14.9% |
| Fixed assets | 21/28 | €267,857 | €228,007 | -€39,851 | -14.9% |
| Intangible fixed assets | 21 | €13,123 | €8,166 | -€4,957 | -37.8% |
| Tangible fixed assets | 22/27 | €254,735 | €210,960 | -€43,774 | -17.2% |
| Plant, machinery and equipment | 23 | €166,010 | €144,508 | -€21,502 | -13.0% |
| Furniture and vehicles | 24 | €34,532 | €22,116 | -€12,416 | -36.0% |
| Other tangible fixed assets | 26 | €54,193 | €44,337 | -€9,856 | -18.2% |
| Financial fixed assets | 28 | - | €8,880 | +€8,880 | |
| Current assets | 29/58 | €307,705 | €261,892 | -€45,813 | -14.9% |
| Stocks and contracts in progress | 3 | €123,684 | €107,794 | -€15,891 | -12.8% |
| Stocks | 30/36 | €123,684 | €107,794 | -€15,891 | -12.8% |
| Amounts receivable within one year | 40/41 | €60,714 | €60,421 | -€293 | -0.5% |
| Trade receivables | 40 | €54,683 | €58,752 | +€4,069 | +7.4% |
| Other amounts receivable | 41 | €6,031 | €1,668 | -€4,362 | -72.3% |
| Current investments | 50/53 | €79,972 | - | -€79,972 | |
| Cash at bank and in hand | 54/58 | €33,651 | €64,263 | +€30,612 | +91.0% |
| Deferred charges and accrued income | 490/1 | €9,684 | €29,414 | +€19,730 | +204% |
| Total equity and liabilities | 10/49 | €575,562 | €489,898 | -€85,664 | -14.9% |
| Equity | 10/15 | €205,126 | €267,027 | +€61,900 | +30.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €186,526 | €248,427 | +€61,900 | +33.2% |
| Distributable reserves | 133 | €186,526 | €248,427 | +€61,900 | +33.2% |
| Amounts payable | 17/49 | €370,436 | €222,872 | -€147,564 | -39.8% |
| Amounts payable after more than one year | 17 | €169,413 | €53,992 | -€115,421 | -68.1% |
| Financial debts | 170/4 | €169,413 | €53,992 | -€115,421 | -68.1% |
| Amounts payable within one year | 42/48 | €196,942 | €168,880 | -€28,062 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €88,132 | €80,421 | -€7,711 | -8.7% |
| Trade debts | 44 | €31,367 | €23,799 | -€7,569 | -24.1% |
| Suppliers | 440/4 | €31,367 | €23,799 | -€7,569 | -24.1% |
| Advances received on contracts in progress | 46 | €9,727 | €21,631 | +€11,904 | +122% |
| Taxes, remuneration and social security | 45 | €57,489 | €43,030 | -€14,460 | -25.2% |
| Taxes | 450/3 | €33,011 | €27,715 | -€5,296 | -16.0% |
| Remuneration and social security | 454/9 | €24,478 | €15,314 | -€9,164 | -37.4% |
| Other amounts payable | 47/48 | €10,226 | - | -€10,226 | |
| Accrued charges and deferred income | 492/3 | €4,081 | - | -€4,081 | |
| Remuneration, social security and pensions | 62 | €191,725 | €191,516 | -€209 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,735 | €76,899 | +€2,165 | +2.9% |
| Other operating charges | 640/8 | €2,971 | €1,589 | -€1,381 | -46.5% |
| Gross operating margin | 9900 | €387,803 | €350,826 | -€36,977 | -9.5% |
| Operating profit (loss) | 9901 | €118,373 | €80,822 | -€37,551 | -31.7% |
| Financial income | 75/76B | €898 | €1 | -€896 | -99.8% |
| Recurring financial income | 75 | €898 | €1 | -€896 | -99.8% |
| Financial charges | 65/66B | €11,023 | €9,109 | -€1,914 | -17.4% |
| Recurring financial charges | 65 | €11,023 | €9,109 | -€1,914 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €108,248 | €71,715 | -€36,533 | -33.7% |
| Income taxes | 67/77 | €9,507 | €9,814 | +€308 | +3.2% |
| Profit (loss) for the period | 9904 | €98,741 | €61,900 | -€36,841 | -37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €98,741 | €61,900 | -€36,841 | -37.3% |
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 15 October 2026 via checked.be.