WaSae: 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.
WaSae
Largest movements
- Tangible fixed assets -€42,211
down €42,211 (-13.2%), from €320,018 to €277,808
of which Land and buildings: -€23,074
- Receivables within one year +€28,765
up €28,765 (+47.0%), from €61,158 to €89,923
of which Other amounts receivable: +€39,438
- Cash -€11,096
down €11,096 (-10.4%), from €107,069 to €95,973
mainly Receivables within one year (-€28,765) and Debts after one year (-€27,731)
- Debts after one year -€27,731
down €27,731 (-29.8%), from €93,165 to €65,434
- Other debts -€20,400
no longer reported in 2025 (was €20,400)
- Tax, wage and social debts +€11,066
up €11,066 (+90.7%), from €12,205 to €23,272
of which Taxes: +€10,788
- Reserves +€4,970
up €4,970 (+2.4%), from €210,631 to €215,601
- Gross operating margin -€61,040
down €61,040 (-46.7%), from €130,782 to €69,742
- Depreciation -€11,648
down €11,648 (-20.0%), from €58,216 to €46,568
- Taxes -€11,244
down €11,244 (-49.9%), from €22,550 to €11,307
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 | €492,716 | €468,011 | -€24,704 | -5.0% |
| Fixed assets | 21/28 | €320,826 | €278,615 | -€42,211 | -13.2% |
| Tangible fixed assets | 22/27 | €320,018 | €277,808 | -€42,211 | -13.2% |
| Land and buildings | 22 | €209,037 | €185,962 | -€23,074 | -11.0% |
| Plant, machinery and equipment | 23 | €68,813 | €55,245 | -€13,569 | -19.7% |
| Furniture and vehicles | 24 | €21,422 | €19,612 | -€1,810 | -8.4% |
| Other tangible fixed assets | 26 | €20,747 | €16,989 | -€3,758 | -18.1% |
| Financial fixed assets | 28 | €808 | €808 | = | 0.0% |
| Current assets | 29/58 | €171,890 | €189,396 | +€17,507 | +10.2% |
| Amounts receivable within one year | 40/41 | €61,158 | €89,923 | +€28,765 | +47.0% |
| Trade receivables | 40 | €15,891 | €5,218 | -€10,673 | -67.2% |
| Other amounts receivable | 41 | €45,267 | €84,705 | +€39,438 | +87.1% |
| Cash at bank and in hand | 54/58 | €107,069 | €95,973 | -€11,096 | -10.4% |
| Deferred charges and accrued income | 490/1 | €3,662 | €3,500 | -€162 | -4.4% |
| Total equity and liabilities | 10/49 | €492,716 | €468,011 | -€24,704 | -5.0% |
| Equity | 10/15 | €340,050 | €345,021 | +€4,970 | +1.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €210,631 | €215,601 | +€4,970 | +2.4% |
| Distributable reserves | 133 | €210,631 | €215,601 | +€4,970 | +2.4% |
| Profit (loss) carried forward | 14 | €110,827 | €110,828 | +€0 | 0.0% |
| Amounts payable | 17/49 | €152,665 | €122,991 | -€29,675 | -19.4% |
| Amounts payable after more than one year | 17 | €93,165 | €65,434 | -€27,731 | -29.8% |
| Financial debts | 170/4 | €93,165 | €65,434 | -€27,731 | -29.8% |
| Amounts payable within one year | 42/48 | €59,500 | €53,657 | -€5,844 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €25,270 | €27,705 | +€2,435 | +9.6% |
| Trade debts | 44 | €1,625 | €2,680 | +€1,054 | +64.9% |
| Suppliers | 440/4 | €1,625 | €2,680 | +€1,054 | +64.9% |
| Taxes, remuneration and social security | 45 | €12,205 | €23,272 | +€11,066 | +90.7% |
| Taxes | 450/3 | €9,911 | €20,700 | +€10,788 | +108.8% |
| Remuneration and social security | 454/9 | €2,294 | €2,572 | +€278 | +12.1% |
| Other amounts payable | 47/48 | €20,400 | - | -€20,400 | |
| Accrued charges and deferred income | 492/3 | - | €3,900 | +€3,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,216 | €46,568 | -€11,648 | -20.0% |
| Other operating charges | 640/8 | €2,470 | €2,509 | +€39 | +1.6% |
| Non-recurring operating charges | 66A | - | €980 | +€980 | |
| Gross operating margin | 9900 | €130,782 | €69,742 | -€61,040 | -46.7% |
| Operating profit (loss) | 9901 | €70,096 | €19,686 | -€50,411 | -71.9% |
| Financial income | 75/76B | €484 | €414 | -€70 | -14.5% |
| Recurring financial income | 75 | €484 | €414 | -€70 | -14.5% |
| Financial charges | 65/66B | €2,749 | €3,823 | +€1,074 | +39.1% |
| Recurring financial charges | 65 | €2,749 | €3,823 | +€1,074 | +39.1% |
| Profit (loss) for the period before taxes | 9903 | €67,832 | €16,277 | -€51,555 | -76.0% |
| Income taxes | 67/77 | €22,550 | €11,307 | -€11,244 | -49.9% |
| Profit (loss) for the period | 9904 | €45,282 | €4,970 | -€40,311 | -89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,282 | €4,970 | -€40,311 | -89.0% |
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 1 October 2026 via checked.be.