WAPPERS: 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.
WAPPERS
Largest movements
- Intangible fixed assets -€13,333
down €13,333 (-73.7%), from €18,095 to €4,762
- Tangible fixed assets +€13,001
up €13,001 (+1259.5%), from €1,032 to €14,033
of which Plant, machinery and equipment: +€13,001
- Current investments +€8,014
up €8,014 (+178.0%), from €4,502 to €12,515
- Receivables within one year +€6,063
up €6,063 (+55.5%), from €10,925 to €16,987
of which Other amounts receivable: +€9,842
- Cash +€2,257
up €2,257 (+395.2%), from €571 to €2,828
mainly Net result for the year (+€25,388) and Depreciation (+€15,190)
- Profit (loss) carried forward +€25,388
up €25,388 (+91.5%), from -€27,743 to -€2,354
- Debts after one year -€3,484
no longer reported in 2025 (was €3,484)
- Tax, wage and social debts -€2,964
down €2,964 (-43.1%), from €6,875 to €3,912
- Trade debts -€1,717
down €1,717 (-13.2%), from €13,016 to €11,299
- Advances received -€1,356
no longer reported in 2025 (was €1,356)
- Gross operating margin +€28,110
up €28,110 (+33.9%), from €83,038 to €111,148
- Staff costs +€1,760
up €1,760 (+2.7%), from €64,460 to €66,220
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 | €40,797 | €56,518 | +€15,721 | +38.5% |
| Fixed assets | 21/28 | €22,720 | €22,387 | -€332 | -1.5% |
| Intangible fixed assets | 21 | €18,095 | €4,762 | -€13,333 | -73.7% |
| Tangible fixed assets | 22/27 | €1,032 | €14,033 | +€13,001 | +1259.5% |
| Plant, machinery and equipment | 23 | €566 | €13,567 | +€13,001 | +2295.9% |
| Furniture and vehicles | 24 | €466 | €466 | = | 0.0% |
| Financial fixed assets | 28 | €3,592 | €3,592 | = | 0.0% |
| Current assets | 29/58 | €18,077 | €34,130 | +€16,053 | +88.8% |
| Stocks and contracts in progress | 3 | €2,080 | €1,800 | -€280 | -13.5% |
| Stocks | 30/36 | €2,080 | €1,800 | -€280 | -13.5% |
| Amounts receivable within one year | 40/41 | €10,925 | €16,987 | +€6,063 | +55.5% |
| Trade receivables | 40 | €8,403 | €4,623 | -€3,780 | -45.0% |
| Other amounts receivable | 41 | €2,522 | €12,364 | +€9,842 | +390.3% |
| Current investments | 50/53 | €4,502 | €12,515 | +€8,014 | +178.0% |
| Cash at bank and in hand | 54/58 | €571 | €2,828 | +€2,257 | +395.2% |
| Total equity and liabilities | 10/49 | €40,797 | €56,518 | +€15,721 | +38.5% |
| Equity | 10/15 | -€21,543 | €3,846 | +€25,388 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,743 | -€2,354 | +€25,388 | +91.5% |
| Amounts payable | 17/49 | €62,340 | €52,672 | -€9,668 | -15.5% |
| Amounts payable after more than one year | 17 | €3,484 | - | -€3,484 | |
| Financial debts | 170/4 | €3,484 | - | -€3,484 | |
| Amounts payable within one year | 42/48 | €58,856 | €52,672 | -€6,184 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €10,319 | €11,316 | +€998 | +9.7% |
| Trade debts | 44 | €13,016 | €11,299 | -€1,717 | -13.2% |
| Suppliers | 440/4 | €13,016 | €11,299 | -€1,717 | -13.2% |
| Advances received on contracts in progress | 46 | €1,356 | - | -€1,356 | |
| Taxes, remuneration and social security | 45 | €6,875 | €3,912 | -€2,964 | -43.1% |
| Remuneration and social security | 454/9 | €6,875 | €3,912 | -€2,964 | -43.1% |
| Other amounts payable | 47/48 | €27,291 | €26,146 | -€1,145 | -4.2% |
| Remuneration, social security and pensions | 62 | €64,460 | €66,220 | +€1,760 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,704 | €15,190 | +€486 | +3.3% |
| Other operating charges | 640/8 | €1,211 | €608 | -€603 | -49.8% |
| Gross operating margin | 9900 | €83,038 | €111,148 | +€28,110 | +33.9% |
| Operating profit (loss) | 9901 | €2,663 | €29,130 | +€26,467 | +993.8% |
| Financial income | 75/76B | €703 | €24 | -€679 | -96.6% |
| Recurring financial income | 75 | €703 | €24 | -€679 | -96.6% |
| Financial charges | 65/66B | €3,073 | €3,766 | +€693 | +22.5% |
| Recurring financial charges | 65 | €3,073 | €3,766 | +€693 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | €293 | €25,388 | +€25,096 | +8568.3% |
| Profit (loss) for the period | 9904 | €293 | €25,388 | +€25,096 | +8568.3% |
| Profit (loss) for the period to be appropriated | 9905 | €293 | €25,388 | +€25,096 | +8568.3% |
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 12 October 2026 via checked.be.