WANG LI: 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.
WANG LI
Largest movements
- Receivables within one year +€122,368
up €122,368 (+49.4%), from €247,752 to €370,119
of which Other amounts receivable: +€130,266
- Tangible fixed assets -€112,452
down €112,452 (-9.6%), from €1.2m to €1.1m
of which Land and buildings: -€84,722
- Stocks and contracts +€79,040
up €79,040 (+23.9%), from €330,529 to €409,569
- Cash -€38,251
down €38,251 (-6.8%), from €564,916 to €526,665
mainly Contributions, distributions and other (-€152,127) and Receivables within one year (-€122,368)
- Debts after one year -€99,520
down €99,520 (-16.5%), from €602,832 to €503,311
- Reserves +€97,276
up €97,276 (+24.2%), from €401,851 to €499,127
of which Distributable reserves: +€97,276
- Trade debts +€72,658
up €72,658 (+12.6%), from €575,119 to €647,778
- Other debts +€70,191
up €70,191 (+123%), from €56,837 to €127,028
- Tax, wage and social debts -€32,309
down €32,309 (-20.0%), from €161,887 to €129,579
of which Taxes: -€30,276
- Gross operating margin +€89,516
up €89,516 (+9.4%), from €953,808 to €1.0m
- Taxes +€28,639
up €28,639 (+33.4%), from €85,868 to €114,507
- Staff costs +€16,267
up €16,267 (+3.1%), from €532,739 to €549,006
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 | €2,322,570 | €2,379,414 | +€56,843 | +2.4% |
| Fixed assets | 21/28 | €1,179,374 | €1,068,482 | -€110,892 | -9.4% |
| Tangible fixed assets | 22/27 | €1,166,528 | €1,054,076 | -€112,452 | -9.6% |
| Land and buildings | 22 | €1,103,300 | €1,018,578 | -€84,722 | -7.7% |
| Plant, machinery and equipment | 23 | €17,874 | €9,080 | -€8,794 | -49.2% |
| Furniture and vehicles | 24 | €45,354 | €26,418 | -€18,936 | -41.8% |
| Financial fixed assets | 28 | €12,846 | €14,406 | +€1,560 | +12.1% |
| Current assets | 29/58 | €1,143,196 | €1,310,932 | +€167,736 | +14.7% |
| Stocks and contracts in progress | 3 | €330,529 | €409,569 | +€79,040 | +23.9% |
| Stocks | 30/36 | €330,529 | €409,569 | +€79,040 | +23.9% |
| Amounts receivable within one year | 40/41 | €247,752 | €370,119 | +€122,368 | +49.4% |
| Trade receivables | 40 | €241,757 | €233,859 | -€7,898 | -3.3% |
| Other amounts receivable | 41 | €5,994 | €136,260 | +€130,266 | +2,173% |
| Cash at bank and in hand | 54/58 | €564,916 | €526,665 | -€38,251 | -6.8% |
| Deferred charges and accrued income | 490/1 | - | €4,579 | +€4,579 | |
| Total equity and liabilities | 10/49 | €2,322,570 | €2,379,414 | +€56,843 | +2.4% |
| Equity | 10/15 | €725,456 | €805,940 | +€80,483 | +11.1% |
| Contributions | 10/11 | €6,333 | €6,333 | = | 0.0% |
| Reserves | 13 | €401,851 | €499,127 | +€97,276 | +24.2% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €399,951 | €497,227 | +€97,276 | +24.3% |
| Profit (loss) carried forward | 14 | €143,145 | €143,145 | = | 0.0% |
| Investment grants | 15 | €174,127 | €157,334 | -€16,792 | -9.6% |
| Provisions and deferred taxes | 16 | €58,042 | €52,445 | -€5,597 | -9.6% |
| Deferred taxes | 168 | €58,042 | €52,445 | -€5,597 | -9.6% |
| Amounts payable | 17/49 | €1,539,072 | €1,521,029 | -€18,043 | -1.2% |
| Amounts payable after more than one year | 17 | €602,832 | €503,311 | -€99,520 | -16.5% |
| Financial debts | 170/4 | €602,832 | €503,311 | -€99,520 | -16.5% |
| Amounts payable within one year | 42/48 | €936,240 | €1,017,718 | +€81,478 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €142,397 | €113,333 | -€29,063 | -20.4% |
| Trade debts | 44 | €575,119 | €647,778 | +€72,658 | +12.6% |
| Suppliers | 440/4 | €575,119 | €647,778 | +€72,658 | +12.6% |
| Taxes, remuneration and social security | 45 | €161,887 | €129,579 | -€32,309 | -20.0% |
| Taxes | 450/3 | €119,250 | €88,974 | -€30,276 | -25.4% |
| Remuneration and social security | 454/9 | €42,637 | €40,604 | -€2,033 | -4.8% |
| Other amounts payable | 47/48 | €56,837 | €127,028 | +€70,191 | +123% |
| Non-recurring operating income | 76A | - | €2,500 | +€2,500 | |
| Remuneration, social security and pensions | 62 | €532,739 | €549,006 | +€16,267 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,052 | €128,041 | -€11 | 0.0% |
| Other operating charges | 640/8 | €26,129 | €25,108 | -€1,022 | -3.9% |
| Non-recurring operating charges | 66A | - | €212 | +€212 | |
| Gross operating margin | 9900 | €953,808 | €1,043,324 | +€89,516 | +9.4% |
| Operating profit (loss) | 9901 | €266,888 | €340,957 | +€74,069 | +27.8% |
| Financial income | 75/76B | €16,910 | €21,788 | +€4,878 | +28.8% |
| Recurring financial income | 75 | €16,910 | €21,788 | +€4,878 | +28.8% |
| Financial charges | 65/66B | €24,154 | €21,225 | -€2,929 | -12.1% |
| Recurring financial charges | 65 | €24,154 | €21,225 | -€2,929 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €259,643 | €341,520 | +€81,877 | +31.5% |
| Transfer from deferred taxes | 780 | €5,597 | €5,597 | = | 0.0% |
| Income taxes | 67/77 | €85,868 | €114,507 | +€28,639 | +33.4% |
| Profit (loss) for the period | 9904 | €179,373 | €232,611 | +€53,238 | +29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €179,373 | €232,611 | +€53,238 | +29.7% |
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.