WAYPOINT: 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.
WAYPOINT
Largest movements
- Tangible fixed assets -€120,017
down €120,017 (-6.0%), from €2.0m to €1.9m
of which Leasing and similar rights: -€104,813
- Cash +€113,341
up €113,341 (+32.1%), from €353,061 to €466,402
mainly Depreciation (+€120,017) and Receivables within one year (+€100,042)
- Receivables within one year -€100,042
down €100,042 (-8.8%), from €1.1m to €1.0m
of which Trade receivables: -€100,000
- Debts after one year -€200,310
down €200,310 (-8.6%), from €2.3m to €2.1m
of which Financial debts: -€195,310
- Reserves +€91,786
up €91,786 (+17.2%), from €532,687 to €624,473
of which Distributable reserves: +€87,197
- Gross operating margin +€61,350
up €61,350 (+25.8%), from €237,511 to €298,860
- Financial charges +€15,062
up €15,062 (+40.0%), from €37,617 to €52,679
- Depreciation +€14,581
up €14,581 (+13.8%), from €105,436 to €120,017
- Taxes +€7,826
up €7,826 (+31.4%), from €24,929 to €32,755
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 | €3,736,877 | €3,662,577 | -€74,300 | -2.0% |
| Fixed assets | 21/28 | €2,004,725 | €1,914,708 | -€90,017 | -4.5% |
| Tangible fixed assets | 22/27 | €2,004,725 | €1,884,708 | -€120,017 | -6.0% |
| Land and buildings | 22 | €651,112 | €635,908 | -€15,204 | -2.3% |
| Leasing and similar rights | 25 | €1,353,613 | €1,248,800 | -€104,813 | -7.7% |
| Financial fixed assets | 28 | - | €30,000 | +€30,000 | |
| Current assets | 29/58 | €1,732,152 | €1,747,869 | +€15,717 | +0.9% |
| Amounts receivable within one year | 40/41 | €1,138,704 | €1,038,662 | -€100,042 | -8.8% |
| Trade receivables | 40 | €124,500 | €24,500 | -€100,000 | -80.3% |
| Other amounts receivable | 41 | €1,014,204 | €1,014,162 | -€42 | 0.0% |
| Current investments | 50/53 | €240,387 | €240,387 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €353,061 | €466,402 | +€113,341 | +32.1% |
| Deferred charges and accrued income | 490/1 | €0 | €2,417 | +€2,417 | |
| Total equity and liabilities | 10/49 | €3,736,877 | €3,662,577 | -€74,300 | -2.0% |
| Equity | 10/15 | €1,207,687 | €1,299,473 | +€91,786 | +7.6% |
| Contributions | 10/11 | €675,000 | €675,000 | = | 0.0% |
| Capital | 10 | €675,000 | €675,000 | = | 0.0% |
| Issued capital | 100 | €675,000 | €675,000 | = | 0.0% |
| Reserves | 13 | €532,687 | €624,473 | +€91,786 | +17.2% |
| Non-distributable reserves | 130/1 | €31,026 | €35,616 | +€4,589 | +14.8% |
| Legal reserve | 130 | €31,026 | €35,616 | +€4,589 | +14.8% |
| Distributable reserves | 133 | €501,661 | €588,858 | +€87,197 | +17.4% |
| Amounts payable | 17/49 | €2,529,190 | €2,363,103 | -€166,086 | -6.6% |
| Amounts payable after more than one year | 17 | €2,323,998 | €2,123,689 | -€200,310 | -8.6% |
| Financial debts | 170/4 | €2,283,453 | €2,088,143 | -€195,310 | -8.6% |
| Other amounts payable | 178/9 | €40,545 | €35,545 | -€5,000 | -12.3% |
| Amounts payable within one year | 42/48 | €205,191 | €239,415 | +€34,223 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €190,262 | €194,879 | +€4,617 | +2.4% |
| Trade debts | 44 | - | €1,851 | +€1,851 | |
| Suppliers | 440/4 | - | €1,851 | +€1,851 | |
| Taxes, remuneration and social security | 45 | €14,929 | €42,684 | +€27,755 | +185.9% |
| Taxes | 450/3 | €14,929 | €42,684 | +€27,755 | +185.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,436 | €120,017 | +€14,581 | +13.8% |
| Other operating charges | 640/8 | €30,154 | €32,602 | +€2,448 | +8.1% |
| Gross operating margin | 9900 | €237,511 | €298,860 | +€61,350 | +25.8% |
| Operating profit (loss) | 9901 | €101,921 | €146,241 | +€44,321 | +43.5% |
| Financial income | 75/76B | €30,482 | €30,979 | +€497 | +1.6% |
| Recurring financial income | 75 | €30,482 | €30,979 | +€497 | +1.6% |
| Financial charges | 65/66B | €37,617 | €52,679 | +€15,062 | +40.0% |
| Recurring financial charges | 65 | €37,617 | €52,679 | +€15,062 | +40.0% |
| Profit (loss) for the period before taxes | 9903 | €94,786 | €124,541 | +€29,755 | +31.4% |
| Income taxes | 67/77 | €24,929 | €32,755 | +€7,826 | +31.4% |
| Profit (loss) for the period | 9904 | €69,857 | €91,786 | +€21,930 | +31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €69,857 | €91,786 | +€21,930 | +31.4% |
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 11 October 2026 via checked.be.