WAX OFF: 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 OFF
Largest movements
- Receivables within one year +€11,965
up €11,965 (+58.6%), from €20,406 to €32,371
of which Trade receivables: +€12,067
- Tangible fixed assets -€1,151
down €1,151 (-20.1%), from €5,732 to €4,581
of which Furniture and vehicles: -€1,526
- Tax, wage and social debts +€8,738
up €8,738 (+104%), from €8,402 to €17,140
- Other debts +€7,786
new in 2025: €7,786
- Reserves -€3,519
down €3,519 (-44.4%), from €7,929 to €4,411
of which Distributable reserves: -€3,519
- Trade debts -€2,256
down €2,256 (-46.3%), from €4,871 to €2,615
- Gross operating margin +€6,916
up €6,916 (+59.9%), from €11,540 to €18,456
- Taxes +€1,097
up €1,097 (+35.5%), from €3,092 to €4,188
- Other operating charges -€773
down €773 (-36.5%), from €2,116 to €1,343
- Financial charges +€599
up €599 (+179%), from €335 to €934
- Depreciation +€253
up €253 (+10.2%), from €2,491 to €2,744
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 | €26,203 | €36,952 | +€10,750 | +41.0% |
| Fixed assets | 21/28 | €5,732 | €4,581 | -€1,151 | -20.1% |
| Tangible fixed assets | 22/27 | €5,732 | €4,581 | -€1,151 | -20.1% |
| Plant, machinery and equipment | 23 | €154 | €530 | +€376 | +244% |
| Furniture and vehicles | 24 | €5,578 | €4,052 | -€1,526 | -27.4% |
| Current assets | 29/58 | €20,471 | €32,371 | +€11,900 | +58.1% |
| Amounts receivable within one year | 40/41 | €20,406 | €32,371 | +€11,965 | +58.6% |
| Trade receivables | 40 | €12,009 | €24,076 | +€12,067 | +100% |
| Other amounts receivable | 41 | €8,397 | €8,295 | -€102 | -1.2% |
| Cash at bank and in hand | 54/58 | €64 | - | -€64 | |
| Total equity and liabilities | 10/49 | €26,203 | €36,952 | +€10,750 | +41.0% |
| Equity | 10/15 | €12,929 | €9,411 | -€3,519 | -27.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | €5,000 | = | 0.0% |
| Issued capital | 100 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €7,929 | €4,411 | -€3,519 | -44.4% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Legal reserve | 130 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €7,429 | €3,911 | -€3,519 | -47.4% |
| Amounts payable | 17/49 | €13,273 | €27,542 | +€14,269 | +107% |
| Amounts payable within one year | 42/48 | €13,273 | €27,542 | +€14,269 | +107% |
| Trade debts | 44 | €4,871 | €2,615 | -€2,256 | -46.3% |
| Suppliers | 440/4 | €4,871 | €2,615 | -€2,256 | -46.3% |
| Taxes, remuneration and social security | 45 | €8,402 | €17,140 | +€8,738 | +104% |
| Taxes | 450/3 | €8,402 | €17,140 | +€8,738 | +104% |
| Other amounts payable | 47/48 | - | €7,786 | +€7,786 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,491 | €2,744 | +€253 | +10.2% |
| Other operating charges | 640/8 | €2,116 | €1,343 | -€773 | -36.5% |
| Gross operating margin | 9900 | €11,540 | €18,456 | +€6,916 | +59.9% |
| Operating profit (loss) | 9901 | €6,933 | €14,369 | +€7,435 | +107% |
| Financial income | 75/76B | €12 | €21 | +€9 | +73.0% |
| Recurring financial income | 75 | €12 | €21 | +€9 | +73.0% |
| Financial charges | 65/66B | €335 | €934 | +€599 | +179% |
| Recurring financial charges | 65 | €335 | €934 | +€599 | +179% |
| Profit (loss) for the period before taxes | 9903 | €6,610 | €13,456 | +€6,845 | +104% |
| Income taxes | 67/77 | €3,092 | €4,188 | +€1,097 | +35.5% |
| Profit (loss) for the period | 9904 | €3,519 | €9,267 | +€5,749 | +163% |
| Profit (loss) for the period to be appropriated | 9905 | €3,519 | €9,267 | +€5,749 | +163% |
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 16 October 2026 via checked.be.