WAP CONCEPT: 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.
WAP CONCEPT
Largest movements
- Receivables within one year -€10,672
down €10,672 (-43.7%), from €24,417 to €13,746
of which Trade receivables: -€22,627
- Cash +€8,594
up €8,594 (+259.0%), from €3,318 to €11,912
mainly Net result for the year (+€29,091) and Receivables within one year (+€10,672)
- Profit (loss) carried forward +€27,491
up €27,491 (+70.9%), from €38,777 to €66,267
- Debts after one year -€24,160
down €24,160 (-36.6%), from €66,032 to €41,872
of which Financial debts: -€17,493
- Tax, wage and social debts -€6,274
down €6,274 (-91.4%), from €6,862 to €587
of which Taxes: -€6,274
- Financial income -€24,000
no longer reported in 2025 (was €24,000)
- Gross operating margin +€18,436
up €18,436 (+86.8%), from €21,228 to €39,664
- Taxes +€3,682
up €3,682 (+87.5%), from €4,210 to €7,891
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 | €148,860 | €146,782 | -€2,078 | -1.4% |
| Fixed assets | 21/28 | €121,125 | €121,125 | = | 0.0% |
| Financial fixed assets | 28 | €121,125 | €121,125 | = | 0.0% |
| Current assets | 29/58 | €27,735 | €25,657 | -€2,078 | -7.5% |
| Amounts receivable within one year | 40/41 | €24,417 | €13,746 | -€10,672 | -43.7% |
| Trade receivables | 40 | €22,627 | - | -€22,627 | |
| Other amounts receivable | 41 | €1,790 | €13,746 | +€11,955 | +667.8% |
| Cash at bank and in hand | 54/58 | €3,318 | €11,912 | +€8,594 | +259.0% |
| Total equity and liabilities | 10/49 | €148,860 | €146,782 | -€2,078 | -1.4% |
| Equity | 10/15 | €50,777 | €78,267 | +€27,491 | +54.1% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,777 | €66,267 | +€27,491 | +70.9% |
| Amounts payable | 17/49 | €98,084 | €68,515 | -€29,569 | -30.1% |
| Amounts payable after more than one year | 17 | €66,032 | €41,872 | -€24,160 | -36.6% |
| Financial debts | 170/4 | €58,255 | €40,761 | -€17,493 | -30.0% |
| Other amounts payable | 178/9 | €7,778 | €1,111 | -€6,667 | -85.7% |
| Amounts payable within one year | 42/48 | €32,051 | €26,643 | -€5,409 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €23,798 | €24,158 | +€360 | +1.5% |
| Trade debts | 44 | - | €60 | +€60 | |
| Suppliers | 440/4 | - | €60 | +€60 | |
| Taxes, remuneration and social security | 45 | €6,862 | €587 | -€6,274 | -91.4% |
| Taxes | 450/3 | €6,526 | €251 | -€6,274 | -96.1% |
| Remuneration and social security | 454/9 | €336 | €336 | = | 0.0% |
| Other amounts payable | 47/48 | €1,392 | €1,837 | +€445 | +32.0% |
| Other operating charges | 640/8 | - | €220 | +€220 | |
| Gross operating margin | 9900 | €21,228 | €39,664 | +€18,436 | +86.8% |
| Operating profit (loss) | 9901 | €21,228 | €39,444 | +€18,216 | +85.8% |
| Financial income | 75/76B | €24,000 | - | -€24,000 | |
| Recurring financial income | 75 | €24,000 | - | -€24,000 | |
| Financial charges | 65/66B | €2,242 | €2,462 | +€220 | +9.8% |
| Recurring financial charges | 65 | €2,242 | €2,462 | +€220 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €42,987 | €36,982 | -€6,004 | -14.0% |
| Income taxes | 67/77 | €4,210 | €7,891 | +€3,682 | +87.5% |
| Profit (loss) for the period | 9904 | €38,777 | €29,091 | -€9,686 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,777 | €29,091 | -€9,686 | -25.0% |
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 30 September 2026 via checked.be.