WAUTERS: 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.
WAUTERS
Largest movements
- Receivables within one year +€40,251
up €40,251 (+21.5%), from €187,150 to €227,401
of which Trade receivables: +€36,753
- Stocks and contracts -€8,825
no longer reported in 2025 (was €8,825)
- Tangible fixed assets -€8,678
down €8,678 (-79.5%), from €10,913 to €2,235
- Trade debts +€60,952
up €60,952 (+54.0%), from €112,901 to €173,853
- Profit (loss) carried forward -€23,709
down €23,709 (-629%), from -€3,766 to -€27,475
- Debts after one year -€6,832
no longer reported in 2025 (was €6,832)
- Accrued charges and deferred income -€4,400
no longer reported in 2025 (was €4,400)
- Tax, wage and social debts -€2,990
down €2,990 (-57.7%), from €5,185 to €2,195
of which Remuneration and social security: -€2,375
- Gross operating margin -€66,245
down €66,245, from €53,908 to -€12,337
- Staff costs -€26,685
no longer reported in 2025 (was €26,685)
- Write-downs +€12,587
new in 2025: €12,587
From the 2023 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.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €208,787 | €231,821 | +€23,034 | +11.0% |
| Fixed assets | 21/28 | €12,713 | €4,035 | -€8,678 | -68.3% |
| Tangible fixed assets | 22/27 | €10,913 | €2,235 | -€8,678 | -79.5% |
| Leasing and similar rights | 25 | €10,913 | €2,235 | -€8,678 | -79.5% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €196,074 | €227,786 | +€31,712 | +16.2% |
| Stocks and contracts in progress | 3 | €8,825 | - | -€8,825 | |
| Stocks | 30/36 | €8,825 | - | -€8,825 | |
| Amounts receivable within one year | 40/41 | €187,150 | €227,401 | +€40,251 | +21.5% |
| Trade receivables | 40 | €179,002 | €215,755 | +€36,753 | +20.5% |
| Other amounts receivable | 41 | €8,148 | €11,647 | +€3,499 | +42.9% |
| Deferred charges and accrued income | 490/1 | €100 | €385 | +€286 | +286% |
| Total equity and liabilities | 10/49 | €208,787 | €231,821 | +€23,034 | +11.0% |
| Equity | 10/15 | €43,302 | €19,594 | -€23,709 | -54.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Contributions outside capital | 11 | €18,550 | - | -€18,550 | |
| Other | 1109/19 | €18,550 | - | -€18,550 | |
| Reserves | 13 | €28,519 | €28,519 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €26,664 | €26,664 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,766 | -€27,475 | -€23,709 | -629% |
| Amounts payable | 17/49 | €165,485 | €212,227 | +€46,742 | +28.2% |
| Amounts payable after more than one year | 17 | €6,832 | - | -€6,832 | |
| Financial debts | 170/4 | €6,832 | - | -€6,832 | |
| Amounts payable within one year | 42/48 | €154,253 | €212,227 | +€57,974 | +37.6% |
| Current portion of amounts payable after more than one year | 42 | €4,397 | €2,309 | -€2,088 | -47.5% |
| Financial debts | 43 | €15,941 | €18,340 | +€2,399 | +15.0% |
| Credit institutions | 430/8 | €15,941 | €18,340 | +€2,399 | +15.0% |
| Trade debts | 44 | €112,901 | €173,853 | +€60,952 | +54.0% |
| Suppliers | 440/4 | €112,901 | €173,853 | +€60,952 | +54.0% |
| Advances received on contracts in progress | 46 | €6,330 | €6,330 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €5,185 | €2,195 | -€2,990 | -57.7% |
| Taxes | 450/3 | €2,224 | €1,609 | -€615 | -27.7% |
| Remuneration and social security | 454/9 | €2,962 | €587 | -€2,375 | -80.2% |
| Other amounts payable | 47/48 | €9,499 | €9,200 | -€299 | -3.1% |
| Accrued charges and deferred income | 492/3 | €4,400 | - | -€4,400 | |
| Remuneration, social security and pensions | 62 | €26,685 | - | -€26,685 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,339 | €4,339 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,587 | +€12,587 | |
| Other operating charges | 640/8 | €88 | €141 | +€53 | +60.2% |
| Gross operating margin | 9900 | €53,908 | -€12,337 | -€66,245 | |
| Operating profit (loss) | 9901 | €22,796 | -€29,405 | -€52,201 | |
| Financial income | 75/76B | €0 | €117 | +€117 | +1,170,500% |
| Recurring financial income | 75 | €0 | €117 | +€117 | +1,170,500% |
| Financial charges | 65/66B | €1,965 | €1,625 | -€340 | -17.3% |
| Recurring financial charges | 65 | €1,965 | €1,625 | -€340 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €20,831 | -€30,913 | -€51,744 | |
| Profit (loss) for the period | 9904 | €20,831 | -€30,913 | -€51,744 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,831 | -€30,913 | -€51,744 |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.