WARD DE GERSEM: 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.
WARD DE GERSEM
Largest movements
- Receivables within one year +€75,922
up €75,922 (+93.7%), from €81,020 to €156,942
of which Other amounts receivable: +€90,090
- Cash -€21,930
down €21,930 (-44.8%), from €48,955 to €27,026
mainly Debts after one year (-€115,382) and Receivables within one year (-€75,922)
- Reserves +€163,773
up €163,773 (+109%), from €150,182 to €313,955
- Debts after one year -€115,382
down €115,382 (-26.0%), from €444,035 to €328,654
- Tax, wage and social debts +€7,484
up €7,484 (+60.2%), from €12,426 to €19,910
- Financial income +€59,999
up €59,999 (+2,597,348%), from €2 to €60,001
- Gross operating margin +€36,150
up €36,150 (+27.6%), from €130,851 to €167,001
- Taxes +€23,033
up €23,033 (+69.6%), from €33,110 to €56,144
- Financial charges +€4,622
up €4,622 (+601%), from €770 to €5,392
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €632,839 | €690,292 | +€57,453 | +9.1% |
| Fixed assets | 21/28 | €500,000 | €502,054 | +€2,054 | +0.4% |
| Tangible fixed assets | 22/27 | - | €2,054 | +€2,054 | |
| Plant, machinery and equipment | 23 | - | €2,054 | +€2,054 | |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €132,839 | €188,238 | +€55,400 | +41.7% |
| Amounts receivable within one year | 40/41 | €81,020 | €156,942 | +€75,922 | +93.7% |
| Trade receivables | 40 | €81,020 | €66,852 | -€14,168 | -17.5% |
| Other amounts receivable | 41 | - | €90,090 | +€90,090 | |
| Cash at bank and in hand | 54/58 | €48,955 | €27,026 | -€21,930 | -44.8% |
| Deferred charges and accrued income | 490/1 | €2,864 | €4,271 | +€1,407 | +49.1% |
| Total equity and liabilities | 10/49 | €632,839 | €690,292 | +€57,453 | +9.1% |
| Equity | 10/15 | €155,182 | €318,955 | +€163,773 | +106% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €150,182 | €313,955 | +€163,773 | +109% |
| Distributable reserves | 133 | €150,182 | €313,955 | +€163,773 | +109% |
| Amounts payable | 17/49 | €477,656 | €371,337 | -€106,319 | -22.3% |
| Amounts payable after more than one year | 17 | €444,035 | €328,654 | -€115,382 | -26.0% |
| Financial debts | 170/4 | €444,035 | €328,654 | -€115,382 | -26.0% |
| Amounts payable within one year | 42/48 | €33,621 | €42,684 | +€9,063 | +27.0% |
| Current portion of amounts payable after more than one year | 42 | €14,762 | €15,382 | +€620 | +4.2% |
| Trade debts | 44 | €2,863 | €5,639 | +€2,776 | +97.0% |
| Suppliers | 440/4 | €2,863 | €5,639 | +€2,776 | +97.0% |
| Taxes, remuneration and social security | 45 | €12,426 | €19,910 | +€7,484 | +60.2% |
| Taxes | 450/3 | €12,426 | €19,910 | +€7,484 | +60.2% |
| Other amounts payable | 47/48 | €3,571 | €1,753 | -€1,818 | -50.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €467 | +€467 | |
| Other operating charges | 640/8 | €126 | €394 | +€268 | +213% |
| Gross operating margin | 9900 | €130,851 | €167,001 | +€36,150 | +27.6% |
| Operating profit (loss) | 9901 | €130,725 | €166,140 | +€35,415 | +27.1% |
| Financial income | 75/76B | €2 | €60,001 | +€59,999 | +2,597,348% |
| Recurring financial income | 75 | €2 | €60,001 | +€59,999 | +2,597,348% |
| Financial charges | 65/66B | €770 | €5,392 | +€4,622 | +601% |
| Recurring financial charges | 65 | €770 | €5,392 | +€4,622 | +601% |
| Profit (loss) for the period before taxes | 9903 | €129,958 | €220,749 | +€90,792 | +69.9% |
| Income taxes | 67/77 | €33,110 | €56,144 | +€23,033 | +69.6% |
| Profit (loss) for the period | 9904 | €96,848 | €164,606 | +€67,758 | +70.0% |
| Profit (loss) for the period to be appropriated | 9905 | €96,848 | €164,606 | +€67,758 | +70.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.