WAPI EXPRESS: 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 EXPRESS
Largest movements
- Tangible fixed assets -€18,845
down €18,845 (-55.0%), from €34,287 to €15,441
- Receivables within one year -€6,396
down €6,396 (-6.3%), from €100,900 to €94,505
of which Trade receivables: -€25,200
- Advances received -€110,167
no longer reported in 2025 (was €110,167)
- Profit (loss) carried forward +€58,308
up €58,308 (+75.2%), from -€77,540 to -€19,232
- Tax, wage and social debts +€17,333
up €17,333 (+83.5%), from €20,756 to €38,089
of which Taxes: +€14,055
- Trade debts +€4,799
up €4,799 (+5.4%), from €88,512 to €93,311
- Other debts +€2,419
up €2,419 (+433.0%), from €559 to €2,977
- Staff costs -€77,208
down €77,208 (-49.0%), from €157,719 to €80,511
- Depreciation +€2,620
up €2,620 (+12.9%), from €20,267 to €22,887
- Other operating charges -€1,800
down €1,800 (-47.3%), from €3,807 to €2,007
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 | €144,953 | €117,644 | -€27,309 | -18.8% |
| Formation expenses | 20 | €858 | €536 | -€322 | -37.6% |
| Fixed assets | 21/28 | €34,587 | €15,741 | -€18,845 | -54.5% |
| Tangible fixed assets | 22/27 | €34,287 | €15,441 | -€18,845 | -55.0% |
| Furniture and vehicles | 24 | €34,287 | €15,441 | -€18,845 | -55.0% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €109,508 | €101,367 | -€8,141 | -7.4% |
| Amounts receivable within one year | 40/41 | €100,900 | €94,505 | -€6,396 | -6.3% |
| Trade receivables | 40 | €99,131 | €73,932 | -€25,200 | -25.4% |
| Other amounts receivable | 41 | €1,769 | €20,573 | +€18,804 | +1063.1% |
| Cash at bank and in hand | 54/58 | €7,847 | €6,744 | -€1,103 | -14.1% |
| Deferred charges and accrued income | 490/1 | €761 | €119 | -€643 | -84.4% |
| Total equity and liabilities | 10/49 | €144,953 | €117,644 | -€27,309 | -18.8% |
| Equity | 10/15 | -€75,041 | -€16,733 | +€58,308 | +77.7% |
| Contributions | 10/11 | €2,499 | €2,499 | = | 0.0% |
| Outside capital | 11 | €2,499 | €2,499 | = | 0.0% |
| Other | 1109/19 | €2,499 | €2,499 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,540 | -€19,232 | +€58,308 | +75.2% |
| Amounts payable | 17/49 | €219,994 | €134,377 | -€85,617 | -38.9% |
| Amounts payable within one year | 42/48 | €219,994 | €134,377 | -€85,617 | -38.9% |
| Trade debts | 44 | €88,512 | €93,311 | +€4,799 | +5.4% |
| Suppliers | 440/4 | €88,512 | €93,311 | +€4,799 | +5.4% |
| Advances received on contracts in progress | 46 | €110,167 | - | -€110,167 | |
| Taxes, remuneration and social security | 45 | €20,756 | €38,089 | +€17,333 | +83.5% |
| Taxes | 450/3 | €17,853 | €31,908 | +€14,055 | +78.7% |
| Remuneration and social security | 454/9 | €2,903 | €6,181 | +€3,278 | +112.9% |
| Other amounts payable | 47/48 | €559 | €2,977 | +€2,419 | +433.0% |
| Remuneration, social security and pensions | 62 | €157,719 | €80,511 | -€77,208 | -49.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,267 | €22,887 | +€2,620 | +12.9% |
| Other operating charges | 640/8 | €3,807 | €2,007 | -€1,800 | -47.3% |
| Gross operating margin | 9900 | €166,652 | €166,943 | +€292 | +0.2% |
| Operating profit (loss) | 9901 | -€15,141 | €61,539 | +€76,680 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €1,779 | €1,244 | -€535 | -30.1% |
| Recurring financial charges | 65 | €1,779 | €1,244 | -€535 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | -€16,921 | €60,298 | +€77,218 | |
| Income taxes | 67/77 | €2,254 | €1,990 | -€264 | -11.7% |
| Profit (loss) for the period | 9904 | -€19,175 | €58,308 | +€77,482 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,175 | €58,308 | +€77,482 |
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 3 October 2026 via checked.be.