WAUW.BE: 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.
WAUW.BE
Largest movements
- Tangible fixed assets -€108,700
down €108,700 (-8.0%), from €1.4m to €1.3m
of which Land and buildings: -€78,183
- Cash +€99,392
up €99,392 (+33.1%), from €300,177 to €399,570
mainly Net result for the year (+€175,824) and Depreciation (+€118,643)
- Receivables within one year +€63,991
up €63,991 (+377.2%), from €16,967 to €80,957
of which Trade receivables: +€51,246
- Debts after one year -€177,703
down €177,703 (-9.6%), from €1.9m to €1.7m
of which Other amounts payable: -€96,123
- Reserves +€170,000
up €170,000 (+226.7%), from €75,000 to €245,000
- Trade debts +€94,429
up €94,429 (+767.9%), from €12,297 to €106,726
- Advances received -€40,500
no longer reported in 2025 (was €40,500)
- Gross operating margin +€84,142
up €84,142 (+22.8%), from €369,803 to €453,945
- Taxes +€16,590
up €16,590 (+34.3%), from €48,346 to €64,936
- Staff costs +€8,245
new in 2025: €8,245
- Depreciation +€7,897
up €7,897 (+7.1%), from €110,746 to €118,643
- Financial charges +€4,677
up €4,677 (+6.7%), from €69,865 to €74,542
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 | €2,244,145 | €2,309,731 | +€65,586 | +2.9% |
| Fixed assets | 21/28 | €1,359,002 | €1,250,302 | -€108,700 | -8.0% |
| Tangible fixed assets | 22/27 | €1,359,002 | €1,250,302 | -€108,700 | -8.0% |
| Land and buildings | 22 | €1,276,142 | €1,197,959 | -€78,183 | -6.1% |
| Plant, machinery and equipment | 23 | €14,110 | €8,128 | -€5,983 | -42.4% |
| Furniture and vehicles | 24 | €68,750 | €44,215 | -€24,534 | -35.7% |
| Current assets | 29/58 | €885,142 | €1,059,429 | +€174,286 | +19.7% |
| Stocks and contracts in progress | 3 | €488,255 | €478,522 | -€9,734 | -2.0% |
| Stocks | 30/36 | €488,255 | €478,522 | -€9,734 | -2.0% |
| Amounts receivable within one year | 40/41 | €16,967 | €80,957 | +€63,991 | +377.2% |
| Trade receivables | 40 | €16,954 | €68,200 | +€51,246 | +302.3% |
| Other amounts receivable | 41 | €12 | €12,757 | +€12,745 | +103031.4% |
| Current investments | 50/53 | €77,061 | €97,311 | +€20,250 | +26.3% |
| Cash at bank and in hand | 54/58 | €300,177 | €399,570 | +€99,392 | +33.1% |
| Deferred charges and accrued income | 490/1 | €2,682 | €3,069 | +€387 | +14.4% |
| Total equity and liabilities | 10/49 | €2,244,145 | €2,309,731 | +€65,586 | +2.9% |
| Equity | 10/15 | €168,135 | €343,099 | +€174,965 | +104.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €22,137 | €22,137 | = | 0.0% |
| Reserves | 13 | €75,000 | €245,000 | +€170,000 | +226.7% |
| Distributable reserves | 133 | €75,000 | €245,000 | +€170,000 | +226.7% |
| Profit (loss) carried forward | 14 | €52,398 | €57,362 | +€4,965 | +9.5% |
| Amounts payable | 17/49 | €2,076,010 | €1,966,632 | -€109,379 | -5.3% |
| Amounts payable after more than one year | 17 | €1,857,892 | €1,680,189 | -€177,703 | -9.6% |
| Financial debts | 170/4 | €1,268,392 | €1,186,812 | -€81,580 | -6.4% |
| Other amounts payable | 178/9 | €589,500 | €493,377 | -€96,123 | -16.3% |
| Amounts payable within one year | 42/48 | €218,118 | €286,443 | +€68,325 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €84,888 | €81,580 | -€3,308 | -3.9% |
| Trade debts | 44 | €12,297 | €106,726 | +€94,429 | +767.9% |
| Suppliers | 440/4 | €12,297 | €106,726 | +€94,429 | +767.9% |
| Advances received on contracts in progress | 46 | €40,500 | - | -€40,500 | |
| Taxes, remuneration and social security | 45 | €75,839 | €94,344 | +€18,505 | +24.4% |
| Taxes | 450/3 | €75,839 | €91,958 | +€16,119 | +21.3% |
| Remuneration and social security | 454/9 | - | €2,386 | +€2,386 | |
| Other amounts payable | 47/48 | €4,595 | €3,794 | -€801 | -17.4% |
| Remuneration, social security and pensions | 62 | - | €8,245 | +€8,245 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,746 | €118,643 | +€7,897 | +7.1% |
| Other operating charges | 640/8 | €15,508 | €12,125 | -€3,382 | -21.8% |
| Gross operating margin | 9900 | €369,803 | €453,945 | +€84,142 | +22.8% |
| Operating profit (loss) | 9901 | €243,550 | €314,932 | +€71,382 | +29.3% |
| Financial income | 75/76B | €958 | €370 | -€589 | -61.4% |
| Recurring financial income | 75 | €958 | €370 | -€589 | -61.4% |
| Financial charges | 65/66B | €69,865 | €74,542 | +€4,677 | +6.7% |
| Recurring financial charges | 65 | €69,865 | €74,542 | +€4,677 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €174,643 | €240,760 | +€66,117 | +37.9% |
| Income taxes | 67/77 | €48,346 | €64,936 | +€16,590 | +34.3% |
| Profit (loss) for the period | 9904 | €126,297 | €175,824 | +€49,527 | +39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €126,297 | €175,824 | +€49,527 | +39.2% |
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 8 October 2026 via checked.be.