Waregem RE: 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.
Waregem RE
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+87.8%), from €1.4m to €2.6m
- Cash +€320,336
up €320,336 (+1224.9%), from €26,151 to €346,487
mainly Other debts (+€1.7m) and Depreciation (+€116,908)
- Other debts +€1.7m
new in 2025: €1.7m
- Profit (loss) carried forward -€196,296
down €196,296, from €84,086 to -€112,210
- Gross operating margin -€2.7m
down €2.7m, from €2.6m to -€79,007
- Write-downs -€1.8m
down €1.8m (-100.0%), from €1.8m to €0
- Other operating charges -€273,231
down €273,231 (-99.5%), from €274,483 to €1,252
- Taxes -€113,878
down €113,878 (-100.0%), from €113,878 to €0
- Financial charges -€52,607
down €52,607 (-99.9%), from €52,661 to €54
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 | €1,405,569 | €2,899,079 | +€1.5m | +106.3% |
| Fixed assets | 21/28 | €1,359,500 | €2,552,592 | +€1.2m | +87.8% |
| Tangible fixed assets | 22/27 | €1,359,500 | €2,552,592 | +€1.2m | +87.8% |
| Land and buildings | 22 | €1,359,500 | €2,552,592 | +€1.2m | +87.8% |
| Current assets | 29/58 | €46,069 | €346,487 | +€300,418 | +652.1% |
| Cash at bank and in hand | 54/58 | €26,151 | €346,487 | +€320,336 | +1224.9% |
| Deferred charges and accrued income | 490/1 | €19,918 | €0 | -€19,918 | -100.0% |
| Total equity and liabilities | 10/49 | €1,405,569 | €2,899,079 | +€1.5m | +106.3% |
| Equity | 10/15 | €1,405,569 | €1,209,273 | -€196,296 | -14.0% |
| Contributions | 10/11 | €1,258,135 | €1,258,135 | -€0 | 0.0% |
| Capital | 10 | €1,221,070 | €1,221,070 | +€0 | 0.0% |
| Issued capital | 100 | €1,221,070 | €1,221,070 | +€0 | 0.0% |
| Outside capital | 11 | €37,065 | €37,065 | -€0 | 0.0% |
| Share premium | 1100/10 | €37,065 | €37,065 | -€0 | 0.0% |
| Reserves | 13 | €63,348 | €63,348 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €34,956 | €34,956 | -€0 | 0.0% |
| Legal reserve | 130 | €34,956 | €34,956 | -€0 | 0.0% |
| Distributable reserves | 133 | €28,392 | €28,393 | +€1 | 0.0% |
| Profit (loss) carried forward | 14 | €84,086 | -€112,210 | -€196,296 | |
| Amounts payable | 17/49 | - | €1,689,806 | +€1.7m | |
| Amounts payable within one year | 42/48 | - | €1,689,806 | +€1.7m | |
| Trade debts | 44 | - | €21,934 | +€21,934 | |
| Suppliers | 440/4 | - | €21,934 | +€21,934 | |
| Other amounts payable | 47/48 | - | €1,667,872 | +€1.7m | |
| Non-recurring operating income | 76A | €1,527,249 | €0 | -€1.5m | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162,720 | €116,908 | -€45,812 | -28.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,755,771 | €0 | -€1.8m | -100.0% |
| Other operating charges | 640/8 | €274,483 | €1,252 | -€273,231 | -99.5% |
| Gross operating margin | 9900 | €2,590,389 | -€79,007 | -€2.7m | |
| Operating profit (loss) | 9901 | €397,415 | -€197,167 | -€594,582 | |
| Financial income | 75/76B | - | €925 | +€925 | |
| Recurring financial income | 75 | - | €925 | +€925 | |
| Financial charges | 65/66B | €52,661 | €54 | -€52,607 | -99.9% |
| Recurring financial charges | 65 | €52,661 | €54 | -€52,607 | -99.9% |
| Profit (loss) for the period before taxes | 9903 | €344,754 | -€196,296 | -€541,050 | |
| Transfer from deferred taxes | 780 | €16,654 | €0 | -€16,654 | -100.0% |
| Income taxes | 67/77 | €113,878 | €0 | -€113,878 | -100.0% |
| Profit (loss) for the period | 9904 | €247,530 | -€196,296 | -€443,826 | |
| Profit (loss) for the period to be appropriated | 9905 | €247,530 | -€196,296 | -€443,826 |
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 2 October 2026 via checked.be.