WAW-CONSTRUCT: 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.
What changed
WAW-CONSTRUCT
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€224,940
2024 · €3.6m-€3.3m
Equity
€2.0m
2024 · €1.8m+€224,940
Cash
€133,665
2024 · €123,554+€10,111
Balance sheet total
€4.1m
2024 · €4.4m-€296,887
Largest movements
Assets
- Deferred charges and accrued income -€266,178
down €266,178 (-87.6%), from €303,829 to €37,651
- Tangible fixed assets -€61,689
down €61,689 (-3.1%), from €2.0m to €2.0m
Equity and liabilities
- Debts after one year +€746,000
new in 2025: €746,000
- Short-term financial debts -€558,703
down €558,703 (-100%), from €558,703 to €0
- Trade debts -€506,209
down €506,209 (-34.6%), from €1.5m to €958,286
- Current portion of long-term debt -€330,000
down €330,000 (-100%), from €330,000 to €0
- Profit (loss) carried forward +€224,940
up €224,940 (+24.2%), from €930,760 to €1.2m
Income statement
- Turnover -€59.8m
down €59.8m (-99.9%), from €59.8m to €63,326
- Goods and materials -€3.6m
down €3.6m (-100%), from €3.6m to €0
- Services and other goods -€2.0m
down €2.0m (-96.7%), from €2.0m to €67,826
- Taxes -€1.1m
down €1.1m (-93.2%), from €1.2m to €81,950
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.
Result 2024
€3.6m
Turnover
-€59.8m
Other operating income
+€294,213
Goods and materials
+€3.6m
Services and other goods
+€2.0m
Depreciation
-€41,126
Other operating charges
-€51,227
Other operating items
+€49.5m
Financial income
+€85,217
Financial charges
-€40,390
Taxes
+€1.1m
Result 2025
€224,940
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€152,814
Investment
€0
Financing
-€142,703
Cash 2024
€123,554
From operations (derived)
+€152,814
Net result for the year
+€224,940
Depreciation
+€61,689
Stocks and contracts
+€4,872
Receivables within one year
-€25,741
Deferred charges and accrued income
+€266,178
Trade debts
-€506,209
Tax, wage and social debts
+€85,830
Other debts
+€1,500
Accrued charges and deferred income
+€39,756
Financing
-€142,703
Debts after one year
+€746,000
Current portion of long-term debt
-€330,000
Short-term financial debts
-€558,703
Cash 2025
€133,665
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,419,850 | €4,122,963 | -€296,887 | -6.7% |
| Fixed assets | 21/28 | €2,015,170 | €1,953,481 | -€61,689 | -3.1% |
| Tangible fixed assets | 22/27 | €2,015,170 | €1,953,481 | -€61,689 | -3.1% |
| Land and buildings | 22 | €2,015,170 | €1,953,481 | -€61,689 | -3.1% |
| Current assets | 29/58 | €2,404,680 | €2,169,482 | -€235,198 | -9.8% |
| Stocks and contracts in progress | 3 | €1,191,522 | €1,186,650 | -€4,872 | -0.4% |
| Stocks | 30/36 | €1,191,522 | €1,186,650 | -€4,872 | -0.4% |
| Property held for sale | 35 | €1,191,522 | €1,186,650 | -€4,872 | -0.4% |
| Amounts receivable within one year | 40/41 | €785,775 | €811,516 | +€25,741 | +3.3% |
| Trade receivables | 40 | €781,252 | €811,516 | +€30,264 | +3.9% |
| Other amounts receivable | 41 | €4,523 | €0 | -€4,523 | -100% |
| Cash at bank and in hand | 54/58 | €123,554 | €133,665 | +€10,111 | +8.2% |
| Deferred charges and accrued income | 490/1 | €303,829 | €37,651 | -€266,178 | -87.6% |
| Total equity and liabilities | 10/49 | €4,419,850 | €4,122,963 | -€296,887 | -6.7% |
| Equity | 10/15 | €1,810,760 | €2,035,700 | +€224,940 | +12.4% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Capital | 10 | €800,000 | €800,000 | = | 0.0% |
| Issued capital | 100 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €80,000 | €80,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €80,000 | €80,000 | = | 0.0% |
| Legal reserve | 130 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €930,760 | €1,155,700 | +€224,940 | +24.2% |
| Amounts payable | 17/49 | €2,609,090 | €2,087,263 | -€521,827 | -20.0% |
| Amounts payable after more than one year | 17 | - | €746,000 | +€746,000 | |
| Financial debts | 170/4 | - | €746,000 | +€746,000 | |
| Other loans | 174 | - | €746,000 | +€746,000 | |
| Amounts payable within one year | 42/48 | €2,608,304 | €1,300,722 | -€1.3m | -50.1% |
| Current portion of amounts payable after more than one year | 42 | €330,000 | €0 | -€330,000 | -100% |
| Financial debts | 43 | €558,703 | €0 | -€558,703 | -100% |
| Credit institutions | 430/8 | €558,703 | €0 | -€558,703 | -100% |
| Trade debts | 44 | €1,464,495 | €958,286 | -€506,209 | -34.6% |
| Suppliers | 440/4 | €1,464,495 | €958,286 | -€506,209 | -34.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €255,106 | €340,936 | +€85,830 | +33.6% |
| Taxes | 450/3 | €255,106 | €340,936 | +€85,830 | +33.6% |
| Other amounts payable | 47/48 | - | €1,500 | +€1,500 | |
| Accrued charges and deferred income | 492/3 | €785 | €40,541 | +€39,756 | +5,061% |
| Operating income | 70/76A | €10,327,411 | €386,714 | -€9.9m | -96.3% |
| Turnover | 70 | €59,844,200 | €63,326 | -€59.8m | -99.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€51,593,145 | -€11,448 | +€51.6m | +100.0% |
| Own construction capitalised | 72 | €2,035,733 | €0 | -€2.0m | -100% |
| Other operating income | 74 | €40,623 | €334,836 | +€294,213 | +724% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €5,626,276 | €181,836 | -€5.4m | -96.8% |
| Goods for resale, raw materials and consumables | 60 | €3,557,193 | €0 | -€3.6m | -100% |
| Purchases | 600/8 | €3,557,193 | €0 | -€3.6m | -100% |
| Services and other goods | 61 | €2,047,426 | €67,826 | -€2.0m | -96.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,563 | €61,689 | +€41,126 | +200% |
| Other operating charges | 640/8 | €1,094 | €52,321 | +€51,227 | +4,685% |
| Operating profit (loss) | 9901 | €4,701,135 | €204,878 | -€4.5m | -95.6% |
| Financial income | 75/76B | €57,736 | €142,953 | +€85,217 | +148% |
| Recurring financial income | 75 | €57,736 | €142,953 | +€85,217 | +148% |
| Income from financial fixed assets | 750 | €27,538 | €71,525 | +€43,986 | +160% |
| Income from current assets | 751 | €29,252 | €71,376 | +€42,124 | +144% |
| Other financial income | 752/9 | €946 | €53 | -€893 | -94.4% |
| Financial charges | 65/66B | €552 | €40,942 | +€40,390 | +7,318% |
| Recurring financial charges | 65 | €552 | €40,942 | +€40,390 | +7,318% |
| Debt charges | 650 | - | €40,541 | +€40,541 | |
| Other financial charges | 652/9 | €552 | €400 | -€152 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €4,758,319 | €306,890 | -€4.5m | -93.6% |
| Income taxes | 67/77 | €1,205,106 | €81,950 | -€1.1m | -93.2% |
| Taxes | 670/3 | €1,205,106 | €81,950 | -€1.1m | -93.2% |
| Profit (loss) for the period | 9904 | €3,553,213 | €224,940 | -€3.3m | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,553,213 | €224,940 | -€3.3m | -93.7% |
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 20 October 2026 via checked.be.