WAPI 2020: 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.
WAPI 2020
Largest movements
- Current investments +€4.7m
up €4.7m (+8284.5%), from €57,184 to €4.8m
- Cash -€2.4m
down €2.4m (-85.9%), from €2.8m to €395,479
mainly Current investments (-€4.7m) and Deferred charges and accrued income (-€19,489)
- Financial fixed assets -€2.2m
down €2.2m (-17.6%), from €12.3m to €10.2m
- Profit (loss) carried forward +€195,541
up €195,541 (+7.9%), from -€2.5m to -€2.3m
- Financial charges -€828,423
down €828,423 (-79.5%), from €1.0m to €213,237
of which Non-recurring financial charges: -€827,940
- Financial income -€250,965
down €250,965 (-33.0%), from €760,081 to €509,116
of which Non-recurring financial income: -€209,522
- Write-downs -€27,957
down €27,957, from €18,584 to -€9,373
- Gross operating margin +€3,428
up €3,428 (+3.1%), from -€112,171 to -€108,743
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 | €15,215,322 | €15,408,900 | +€193,578 | +1.3% |
| Fixed assets | 21/28 | €12,317,216 | €10,154,741 | -€2.2m | -17.6% |
| Financial fixed assets | 28 | €12,317,216 | €10,154,741 | -€2.2m | -17.6% |
| Current assets | 29/58 | €2,898,106 | €5,254,159 | +€2.4m | +81.3% |
| Amounts receivable within one year | 40/41 | €20,277 | €27,827 | +€7,550 | +37.2% |
| Other amounts receivable | 41 | €20,277 | €27,827 | +€7,550 | +37.2% |
| Current investments | 50/53 | €57,184 | €4,794,603 | +€4.7m | +8284.5% |
| Cash at bank and in hand | 54/58 | €2,803,884 | €395,479 | -€2.4m | -85.9% |
| Deferred charges and accrued income | 490/1 | €16,761 | €36,250 | +€19,489 | +116.3% |
| Total equity and liabilities | 10/49 | €15,215,322 | €15,408,900 | +€193,578 | +1.3% |
| Equity | 10/15 | €15,118,295 | €15,313,836 | +€195,541 | +1.3% |
| Contributions | 10/11 | €17,595,509 | €17,595,509 | = | 0.0% |
| Capital | 10 | €17,595,509 | €17,595,509 | = | 0.0% |
| Issued capital | 100 | €17,595,509 | €17,595,509 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,477,214 | -€2,281,673 | +€195,541 | +7.9% |
| Amounts payable | 17/49 | €97,027 | €95,064 | -€1,963 | -2.0% |
| Amounts payable within one year | 42/48 | €97,027 | €95,064 | -€1,963 | -2.0% |
| Trade debts | 44 | €97,027 | €95,064 | -€1,963 | -2.0% |
| Suppliers | 440/4 | €97,027 | €95,064 | -€1,963 | -2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,584 | -€9,373 | -€27,957 | |
| Other operating charges | 640/8 | €960 | €968 | +€8 | +0.8% |
| Gross operating margin | 9900 | -€112,171 | -€108,743 | +€3,428 | +3.1% |
| Operating profit (loss) | 9901 | -€131,715 | -€100,338 | +€31,377 | +23.8% |
| Financial income | 75/76B | €760,081 | €509,116 | -€250,965 | -33.0% |
| Recurring financial income | 75 | €512,320 | €470,877 | -€41,443 | -8.1% |
| Non-recurring financial income | 76B | €247,761 | €38,239 | -€209,522 | -84.6% |
| Financial charges | 65/66B | €1,041,660 | €213,237 | -€828,423 | -79.5% |
| Recurring financial charges | 65 | €764 | €281 | -€483 | -63.2% |
| Non-recurring financial charges | 66B | €1,040,896 | €212,956 | -€827,940 | -79.5% |
| Profit (loss) for the period before taxes | 9903 | -€413,294 | €195,541 | +€608,835 | |
| Profit (loss) for the period | 9904 | -€413,294 | €195,541 | +€608,835 | |
| Profit (loss) for the period to be appropriated | 9905 | -€413,294 | €195,541 | +€608,835 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.