WAX MANAGEMENT: 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.
WAX MANAGEMENT
Largest movements
- Receivables within one year -€314,363
down €314,363 (-52.4%), from €600,198 to €285,835
of which Trade receivables: -€203,487
- Current investments +€259,189
up €259,189 (+992%), from €26,125 to €285,314
- Tangible fixed assets +€66,211
up €66,211 (+8.4%), from €792,578 to €858,789
- Cash -€49,471
down €49,471 (-7.5%), from €656,769 to €607,298
mainly Current investments (-€259,189) and Tax, wage and social debts (-€173,648)
- Reserves +€212,489
up €212,489 (+21.0%), from €1.0m to €1.2m
of which Distributable reserves: +€214,349
- Tax, wage and social debts -€173,648
down €173,648 (-69.5%), from €249,738 to €76,090
of which Taxes: -€171,224
- Provisions -€60,000
no longer reported in 2025 (was €60,000)
- Debts after one year -€45,661
down €45,661 (-9.0%), from €509,397 to €463,736
- Trade debts +€30,093
up €30,093 (+473%), from €6,363 to €36,456
- Gross operating margin -€259,625
down €259,625 (-39.0%), from €665,620 to €405,995
- Provisions -€120,000
down €120,000, from €60,000 to -€60,000
- Taxes -€33,286
down €33,286 (-24.2%), from €137,343 to €104,056
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 | €2,478,749 | €2,440,398 | -€38,351 | -1.5% |
| Fixed assets | 21/28 | €1,193,541 | €1,259,752 | +€66,211 | +5.5% |
| Tangible fixed assets | 22/27 | €792,578 | €858,789 | +€66,211 | +8.4% |
| Land and buildings | 22 | €792,578 | €858,789 | +€66,211 | +8.4% |
| Financial fixed assets | 28 | €400,963 | €400,963 | = | 0.0% |
| Current assets | 29/58 | €1,285,208 | €1,180,645 | -€104,562 | -8.1% |
| Amounts receivable within one year | 40/41 | €600,198 | €285,835 | -€314,363 | -52.4% |
| Trade receivables | 40 | €480,198 | €276,711 | -€203,487 | -42.4% |
| Other amounts receivable | 41 | €120,000 | €9,124 | -€110,876 | -92.4% |
| Current investments | 50/53 | €26,125 | €285,314 | +€259,189 | +992% |
| Cash at bank and in hand | 54/58 | €656,769 | €607,298 | -€49,471 | -7.5% |
| Deferred charges and accrued income | 490/1 | €2,115 | €2,198 | +€83 | +3.9% |
| Total equity and liabilities | 10/49 | €2,478,749 | €2,440,398 | -€38,351 | -1.5% |
| Equity | 10/15 | €1,576,246 | €1,788,735 | +€212,489 | +13.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,013,701 | €1,226,190 | +€212,489 | +21.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €1,011,841 | €1,226,190 | +€214,349 | +21.2% |
| Profit (loss) carried forward | 14 | €556,345 | €556,345 | = | 0.0% |
| Provisions and deferred taxes | 16 | €60,000 | - | -€60,000 | |
| Provisions for liabilities and charges | 160/5 | €60,000 | - | -€60,000 | |
| Major repairs and maintenance | 162 | €60,000 | - | -€60,000 | |
| Amounts payable | 17/49 | €842,503 | €651,663 | -€190,840 | -22.7% |
| Amounts payable after more than one year | 17 | €509,397 | €463,736 | -€45,661 | -9.0% |
| Financial debts | 170/4 | €509,397 | €463,736 | -€45,661 | -9.0% |
| Amounts payable within one year | 42/48 | €332,331 | €187,378 | -€144,953 | -43.6% |
| Current portion of amounts payable after more than one year | 42 | €35,461 | €41,462 | +€6,001 | +16.9% |
| Trade debts | 44 | €6,363 | €36,456 | +€30,093 | +473% |
| Suppliers | 440/4 | €6,363 | €36,456 | +€30,093 | +473% |
| Taxes, remuneration and social security | 45 | €249,738 | €76,090 | -€173,648 | -69.5% |
| Taxes | 450/3 | €222,852 | €51,628 | -€171,224 | -76.8% |
| Remuneration and social security | 454/9 | €26,886 | €24,463 | -€2,424 | -9.0% |
| Other amounts payable | 47/48 | €40,770 | €33,370 | -€7,400 | -18.2% |
| Accrued charges and deferred income | 492/3 | €775 | €549 | -€226 | -29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,191 | €44,793 | +€5,602 | +14.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €60,000 | -€60,000 | -€120,000 | |
| Other operating charges | 640/8 | €3,319 | €5,848 | +€2,529 | +76.2% |
| Gross operating margin | 9900 | €665,620 | €405,995 | -€259,625 | -39.0% |
| Operating profit (loss) | 9901 | €563,110 | €415,354 | -€147,756 | -26.2% |
| Financial income | 75/76B | €3,010 | €4,111 | +€1,101 | +36.6% |
| Recurring financial income | 75 | €3,010 | €4,111 | +€1,101 | +36.6% |
| Financial charges | 65/66B | €10,003 | €13,068 | +€3,065 | +30.6% |
| Recurring financial charges | 65 | €10,003 | €13,068 | +€3,065 | +30.6% |
| Profit (loss) for the period before taxes | 9903 | €556,118 | €406,397 | -€149,720 | -26.9% |
| Income taxes | 67/77 | €137,343 | €104,056 | -€33,286 | -24.2% |
| Profit (loss) for the period | 9904 | €418,775 | €302,341 | -€116,434 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €418,775 | €302,341 | -€116,434 | -27.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.