WAW: 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.
WAW
Largest movements
- Tangible fixed assets -€7,884
down €7,884 (-97.9%), from €8,052 to €168
of which Land and buildings: -€6,551
- Stocks and contracts -€6,982
down €6,982 (-19.1%), from €36,514 to €29,532
- Receivables within one year -€5,033
down €5,033 (-85.9%), from €5,859 to €826
of which Other amounts receivable: -€2,762
- Cash -€4,044
down €4,044 (-3.1%), from €130,572 to €126,528
mainly Net result for the year (-€19,640) and Other debts (-€2,414)
- Profit (loss) carried forward -€19,640
down €19,640 (-432.6%), from -€4,540 to -€24,180
- Other debts -€2,414
down €2,414 (-3.5%), from €69,953 to €67,539
- Trade debts -€2,397
down €2,397 (-87.0%), from €2,755 to €358
- Gross operating margin -€13,300
down €13,300, from €8,910 to -€4,390
- Financial income -€982
down €982 (-59.3%), from €1,655 to €673
- Financial charges -€879
down €879 (-13.1%), from €6,696 to €5,817
- Taxes -€591
down €591 (-65.9%), from €897 to €306
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 | €183,275 | €159,538 | -€23,738 | -13.0% |
| Fixed assets | 21/28 | €8,052 | €168 | -€7,884 | -97.9% |
| Tangible fixed assets | 22/27 | €8,052 | €168 | -€7,884 | -97.9% |
| Land and buildings | 22 | €6,551 | €0 | -€6,551 | -100.0% |
| Plant, machinery and equipment | 23 | €767 | €0 | -€767 | -100.0% |
| Furniture and vehicles | 24 | €734 | €168 | -€566 | -77.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €175,223 | €159,370 | -€15,854 | -9.0% |
| Stocks and contracts in progress | 3 | €36,514 | €29,532 | -€6,982 | -19.1% |
| Stocks | 30/36 | €36,514 | €29,532 | -€6,982 | -19.1% |
| Amounts receivable within one year | 40/41 | €5,859 | €826 | -€5,033 | -85.9% |
| Trade receivables | 40 | €2,403 | €132 | -€2,271 | -94.5% |
| Other amounts receivable | 41 | €3,456 | €694 | -€2,762 | -79.9% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €130,572 | €126,528 | -€4,044 | -3.1% |
| Deferred charges and accrued income | 490/1 | €2,279 | €2,484 | +€206 | +9.0% |
| Total equity and liabilities | 10/49 | €183,275 | €159,538 | -€23,738 | -13.0% |
| Equity | 10/15 | €100,533 | €80,894 | -€19,640 | -19.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €86,481 | €86,481 | = | 0.0% |
| Distributable reserves | 133 | €86,481 | €86,481 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,540 | -€24,180 | -€19,640 | -432.6% |
| Amounts payable | 17/49 | €82,742 | €78,644 | -€4,098 | -5.0% |
| Amounts payable within one year | 42/48 | €76,973 | €73,650 | -€3,323 | -4.3% |
| Trade debts | 44 | €2,755 | €358 | -€2,397 | -87.0% |
| Suppliers | 440/4 | €2,755 | €358 | -€2,397 | -87.0% |
| Taxes, remuneration and social security | 45 | €4,265 | €5,753 | +€1,488 | +34.9% |
| Taxes | 450/3 | €4,265 | €5,753 | +€1,488 | +34.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €69,953 | €67,539 | -€2,414 | -3.5% |
| Accrued charges and deferred income | 492/3 | €5,769 | €4,994 | -€775 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,885 | €7,884 | -€1 | 0.0% |
| Other operating charges | 640/8 | €1,987 | €1,915 | -€72 | -3.6% |
| Gross operating margin | 9900 | €8,910 | -€4,390 | -€13,300 | |
| Operating profit (loss) | 9901 | -€962 | -€14,190 | -€13,228 | -1374.8% |
| Financial income | 75/76B | €1,655 | €673 | -€982 | -59.3% |
| Recurring financial income | 75 | €1,655 | €673 | -€982 | -59.3% |
| Financial charges | 65/66B | €6,696 | €5,817 | -€879 | -13.1% |
| Recurring financial charges | 65 | €6,696 | €5,817 | -€879 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,003 | -€19,334 | -€13,330 | -222.0% |
| Income taxes | 67/77 | €897 | €306 | -€591 | -65.9% |
| Profit (loss) for the period | 9904 | -€6,900 | -€19,640 | -€12,739 | -184.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,900 | -€19,640 | -€12,739 | -184.6% |
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 29 September 2026 via checked.be.