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 +€71,580
up €71,580 (+39.9%), from €179,516 to €251,096
of which Trade receivables: +€71,055
- Reserves +€82,933
up €82,933 (+253%), from €32,777 to €115,711
of which Tax-exempt reserves: +€42,100
- Other debts -€21,306
down €21,306 (-32.5%), from €65,617 to €44,311
- Accrued charges and deferred income +€10,000
new in 2025: €10,000
- Taxes +€6,415
up €6,415 (+29.3%), from €21,872 to €28,286
- Depreciation -€5,208
down €5,208 (-68.3%), from €7,628 to €2,420
- Gross operating margin +€2,432
up €2,432 (+2.2%), from €109,947 to €112,379
- Financial income +€1,670
up €1,670 (+200%), from €836 to €2,506
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.
Derived cash bridge
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 | €203,642 | €275,017 | +€71,376 | +35.0% |
| Fixed assets | 21/28 | €20,273 | €20,148 | -€125 | -0.6% |
| Tangible fixed assets | 22/27 | €5,273 | €5,148 | -€125 | -2.4% |
| Land and buildings | 22 | €4,150 | €3,336 | -€814 | -19.6% |
| Plant, machinery and equipment | 23 | €284 | €0 | -€284 | -100% |
| Furniture and vehicles | 24 | €839 | €1,812 | +€973 | +116% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €183,368 | €254,869 | +€71,501 | +39.0% |
| Amounts receivable within one year | 40/41 | €179,516 | €251,096 | +€71,580 | +39.9% |
| Trade receivables | 40 | €54,450 | €125,505 | +€71,055 | +130% |
| Other amounts receivable | 41 | €125,066 | €125,592 | +€525 | +0.4% |
| Cash at bank and in hand | 54/58 | €2,001 | €82 | -€1,919 | -95.9% |
| Deferred charges and accrued income | 490/1 | €1,851 | €3,690 | +€1,840 | +99.4% |
| Total equity and liabilities | 10/49 | €203,642 | €275,017 | +€71,376 | +35.0% |
| Equity | 10/15 | €120,178 | €203,111 | +€82,933 | +69.0% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €32,777 | €115,711 | +€82,933 | +253% |
| Tax-exempt reserves | 132 | - | €42,100 | +€42,100 | |
| Distributable reserves | 133 | €32,777 | €73,611 | +€40,833 | +125% |
| Profit (loss) carried forward | 14 | €79,400 | €79,400 | = | 0.0% |
| Amounts payable | 17/49 | €83,464 | €71,906 | -€11,558 | -13.8% |
| Amounts payable within one year | 42/48 | €83,464 | €61,906 | -€21,558 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €909 | €438 | -€471 | -51.8% |
| Suppliers | 440/4 | €909 | €438 | -€471 | -51.8% |
| Taxes, remuneration and social security | 45 | €16,938 | €17,157 | +€219 | +1.3% |
| Taxes | 450/3 | €16,938 | €17,157 | +€219 | +1.3% |
| Other amounts payable | 47/48 | €65,617 | €44,311 | -€21,306 | -32.5% |
| Accrued charges and deferred income | 492/3 | - | €10,000 | +€10,000 | |
| Non-recurring operating income | 76A | €22,470 | €0 | -€22,470 | -100% |
| Remuneration, social security and pensions | 62 | €457 | €0 | -€457 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,628 | €2,420 | -€5,208 | -68.3% |
| Other operating charges | 640/8 | €1,287 | €1,192 | -€95 | -7.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €109,947 | €112,379 | +€2,432 | +2.2% |
| Operating profit (loss) | 9901 | €100,575 | €108,767 | +€8,192 | +8.1% |
| Financial income | 75/76B | €836 | €2,506 | +€1,670 | +200% |
| Recurring financial income | 75 | €836 | €2,506 | +€1,670 | +200% |
| Financial charges | 65/66B | €139 | €53 | -€86 | -61.9% |
| Recurring financial charges | 65 | €139 | €53 | -€86 | -61.9% |
| Profit (loss) for the period before taxes | 9903 | €101,272 | €111,220 | +€9,948 | +9.8% |
| Income taxes | 67/77 | €21,872 | €28,286 | +€6,415 | +29.3% |
| Profit (loss) for the period | 9904 | €79,400 | €82,933 | +€3,533 | +4.4% |
| Transfer to tax-exempt reserves | 689 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €79,400 | €40,833 | -€38,567 | -48.6% |
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 26 October 2026 via checked.be.