WAW CONCEPT: 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.
WAW CONCEPT
Largest movements
- Receivables within one year -€22,301
down €22,301 (-75.7%), from €29,470 to €7,169
of which Trade receivables: -€26,420
- Cash +€16,834
up €16,834 (+50.4%), from €33,376 to €50,210
mainly Other debts (+€28,650) and Receivables within one year (+€22,301)
- Financial fixed assets -€1,500
down €1,500 (-96.2%), from €1,560 to €60
- Reserves -€29,000
down €29,000 (-100%), from €29,000 to €0
- Other debts +€28,650
up €28,650 (+220%), from €13,000 to €41,650
- Advances received -€10,600
no longer reported in 2025 (was €10,600)
- Trade debts +€8,165
up €8,165 (+291%), from €2,804 to €10,969
- Tax, wage and social debts -€4,406
down €4,406 (-75.3%), from €5,850 to €1,444
of which Remuneration and social security: -€2,436
- Staff costs -€13,087
down €13,087 (-41.8%), from €31,294 to €18,206
- Gross operating margin -€10,028
down €10,028 (-28.4%), from €35,322 to €25,294
- Taxes +€769
up €769 (+156%), from €493 to €1,262
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 | €82,005 | €74,134 | -€7,871 | -9.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €4,568 | €1,610 | -€2,959 | -64.8% |
| Intangible fixed assets | 21 | €1,821 | €1,037 | -€784 | -43.0% |
| Tangible fixed assets | 22/27 | €1,187 | €512 | -€675 | -56.8% |
| Plant, machinery and equipment | 23 | €175 | - | -€175 | |
| Furniture and vehicles | 24 | €1,012 | €512 | -€500 | -49.4% |
| Financial fixed assets | 28 | €1,560 | €60 | -€1,500 | -96.2% |
| Current assets | 29/58 | €77,436 | €72,524 | -€4,912 | -6.3% |
| Stocks and contracts in progress | 3 | €13,941 | €14,495 | +€554 | +4.0% |
| Stocks | 30/36 | €13,941 | €14,495 | +€554 | +4.0% |
| Amounts receivable within one year | 40/41 | €29,470 | €7,169 | -€22,301 | -75.7% |
| Trade receivables | 40 | €26,963 | €543 | -€26,420 | -98.0% |
| Other amounts receivable | 41 | €2,507 | €6,626 | +€4,119 | +164% |
| Cash at bank and in hand | 54/58 | €33,376 | €50,210 | +€16,834 | +50.4% |
| Deferred charges and accrued income | 490/1 | €650 | €650 | = | 0.0% |
| Total equity and liabilities | 10/49 | €82,005 | €74,134 | -€7,871 | -9.6% |
| Equity | 10/15 | €49,264 | €20,071 | -€29,193 | -59.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €29,000 | €0 | -€29,000 | -100% |
| Distributable reserves | 133 | €29,000 | - | -€29,000 | |
| Profit (loss) carried forward | 14 | €264 | €71 | -€193 | -73.2% |
| Amounts payable | 17/49 | €32,741 | €54,063 | +€21,322 | +65.1% |
| Amounts payable within one year | 42/48 | €32,254 | €54,063 | +€21,808 | +67.6% |
| Trade debts | 44 | €2,804 | €10,969 | +€8,165 | +291% |
| Suppliers | 440/4 | €2,804 | €10,969 | +€8,165 | +291% |
| Advances received on contracts in progress | 46 | €10,600 | - | -€10,600 | |
| Taxes, remuneration and social security | 45 | €5,850 | €1,444 | -€4,406 | -75.3% |
| Taxes | 450/3 | €1,971 | - | -€1,971 | |
| Remuneration and social security | 454/9 | €3,879 | €1,444 | -€2,436 | -62.8% |
| Other amounts payable | 47/48 | €13,000 | €41,650 | +€28,650 | +220% |
| Accrued charges and deferred income | 492/3 | €487 | - | -€487 | |
| Remuneration, social security and pensions | 62 | €31,294 | €18,206 | -€13,087 | -41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,536 | €1,459 | -€78 | -5.1% |
| Other operating charges | 640/8 | €505 | €506 | +€1 | +0.1% |
| Gross operating margin | 9900 | €35,322 | €25,294 | -€10,028 | -28.4% |
| Operating profit (loss) | 9901 | €1,987 | €5,123 | +€3,137 | +158% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €54 | €54 | = | 0.0% |
| Recurring financial charges | 65 | €54 | €54 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €1,933 | €5,069 | +€3,137 | +162% |
| Income taxes | 67/77 | €493 | €1,262 | +€769 | +156% |
| Profit (loss) for the period | 9904 | €1,439 | €3,807 | +€2,368 | +164% |
| Profit (loss) for the period to be appropriated | 9905 | €1,439 | €3,807 | +€2,368 | +164% |
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 24 October 2026 via checked.be.