Wazazi: 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
Wazazi
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4.4m
2024 · -€323,428+€4.7m
Equity
€17.1m
2024 · €12.9m+€4.2m
Cash
€563,482
2024 · €39,091+€524,391
Balance sheet total
€19.8m
2024 · €15.8m+€4.1m
Largest movements
Assets
- Current investments +€4.9m
up €4.9m (+49.7%), from €9.9m to €14.8m
- Receivables after one year -€1.0m
down €1.0m (-53.8%), from €1.9m to €884,694
- Cash +€524,391
up €524,391 (+1,341%), from €39,091 to €563,482
mainly Net result for the year (+€4.4m) and Receivables after one year (+€1.0m)
Equity and liabilities
- Reserves +€4.2m
up €4.2m (+45.6%), from €9.1m to €13.3m
of which Distributable reserves: +€4.2m
- Other debts +€201,128
up €201,128 (+110%), from €183,654 to €384,783
Income statement
- Financial income +€4.7m
up €4.7m (+1,114%), from €419,081 to €5.1m
- Taxes +€416,733
up €416,733 (+120,513%), from €346 to €417,079
- Gross operating margin -€186,831
down €186,831, from €185,572 to -€1,258
- Other operating charges +€19,624
up €19,624 (+109%), from €17,938 to €37,562
- Depreciation +€9,873
up €9,873 (+4.8%), from €204,070 to €213,943
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
-€323,428
Gross operating margin
-€186,831
Depreciation
-€9,873
Other operating charges
-€19,624
Other operating items
+€655,128
Financial income
+€4.7m
Financial charges
+€3,978
Taxes
-€416,733
Result 2025
€4.4m
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
+€5.9m
Investment
-€4.9m
Financing
-€460,145
Cash 2024
€39,091
From operations (derived)
+€5.9m
Net result for the year
+€4.4m
Depreciation
+€213,943
Receivables after one year
+€1.0m
Receivables within one year
+€147,531
Deferred charges and accrued income
-€35,842
Trade debts
-€14,597
Tax, wage and social debts
-€42,190
Other debts
+€201,128
Accrued charges and deferred income
-€4,046
Investment (derived)
-€4.9m
Investment in fixed assets (net)
+€24,252
Current investments
-€4.9m
Financing
-€460,145
Debts after one year
-€155,901
Current portion of long-term debt
+€1,471
Short-term financial debts
-€100,000
Contributions, distributions and other
-€205,714
Cash 2025
€563,482
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,793,751 | €19,847,135 | +€4.1m | +25.7% |
| Fixed assets | 21/28 | €3,616,283 | €3,378,088 | -€238,195 | -6.6% |
| Tangible fixed assets | 22/27 | €3,294,508 | €3,128,088 | -€166,420 | -5.1% |
| Land and buildings | 22 | €2,887,486 | €2,743,758 | -€143,728 | -5.0% |
| Plant, machinery and equipment | 23 | €19,696 | €6,325 | -€13,371 | -67.9% |
| Furniture and vehicles | 24 | €387,326 | €378,005 | -€9,321 | -2.4% |
| Financial fixed assets | 28 | €321,775 | €250,000 | -€71,775 | -22.3% |
| Current assets | 29/58 | €12,177,468 | €16,469,046 | +€4.3m | +35.2% |
| Amounts receivable after more than one year | 29 | €1,914,674 | €884,694 | -€1.0m | -53.8% |
| Other amounts receivable | 291 | €1,914,674 | €884,694 | -€1.0m | -53.8% |
| Amounts receivable within one year | 40/41 | €347,274 | €199,743 | -€147,531 | -42.5% |
| Trade receivables | 40 | €115,406 | €15,035 | -€100,371 | -87.0% |
| Other amounts receivable | 41 | €231,868 | €184,708 | -€47,161 | -20.3% |
| Current investments | 50/53 | €9,869,283 | €14,778,141 | +€4.9m | +49.7% |
| Cash at bank and in hand | 54/58 | €39,091 | €563,482 | +€524,391 | +1,341% |
| Deferred charges and accrued income | 490/1 | €7,145 | €42,987 | +€35,842 | +502% |
| Total equity and liabilities | 10/49 | €15,793,751 | €19,847,135 | +€4.1m | +25.7% |
| Equity | 10/15 | €12,885,074 | €17,052,593 | +€4.2m | +32.3% |
| Contributions | 10/11 | €3,740,747 | €3,740,747 | = | 0.0% |
| Reserves | 13 | €9,139,831 | €13,306,831 | +€4.2m | +45.6% |
| Tax-exempt reserves | 132 | €7,310 | €7,310 | = | 0.0% |
| Distributable reserves | 133 | €9,132,521 | €13,299,521 | +€4.2m | +45.6% |
| Profit (loss) carried forward | 14 | €683 | €1,202 | +€519 | +76.1% |
| Investment grants | 15 | €3,813 | €3,813 | = | 0.0% |
| Amounts payable | 17/49 | €2,908,677 | €2,794,542 | -€114,136 | -3.9% |
| Amounts payable after more than one year | 17 | €2,182,465 | €2,026,563 | -€155,901 | -7.1% |
| Financial debts | 170/4 | €2,182,465 | €2,026,563 | -€155,901 | -7.1% |
| Amounts payable within one year | 42/48 | €714,562 | €760,374 | +€45,812 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €104,431 | €105,901 | +€1,471 | +1.4% |
| Financial debts | 43 | €100,000 | €0 | -€100,000 | -100% |
| Credit institutions | 430/8 | €100,000 | €0 | -€100,000 | -100% |
| Trade debts | 44 | €33,294 | €18,697 | -€14,597 | -43.8% |
| Suppliers | 440/4 | €33,294 | €18,697 | -€14,597 | -43.8% |
| Taxes, remuneration and social security | 45 | €293,183 | €250,992 | -€42,190 | -14.4% |
| Taxes | 450/3 | €293,183 | €250,992 | -€42,190 | -14.4% |
| Other amounts payable | 47/48 | €183,654 | €384,783 | +€201,128 | +110% |
| Accrued charges and deferred income | 492/3 | €11,651 | €7,605 | -€4,046 | -34.7% |
| Non-recurring operating income | 76A | - | €126 | +€126 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,070 | €213,943 | +€9,873 | +4.8% |
| Other operating charges | 640/8 | €17,938 | €37,562 | +€19,624 | +109% |
| Non-recurring operating charges | 66A | €655,128 | €0 | -€655,128 | -100% |
| Gross operating margin | 9900 | €185,572 | -€1,258 | -€186,831 | |
| Operating profit (loss) | 9901 | -€691,564 | -€252,764 | +€438,800 | +63.5% |
| Financial income | 75/76B | €419,081 | €5,089,697 | +€4.7m | +1,114% |
| Recurring financial income | 75 | €419,081 | €5,089,697 | +€4.7m | +1,114% |
| Financial charges | 65/66B | €50,599 | €46,621 | -€3,978 | -7.9% |
| Recurring financial charges | 65 | €50,599 | €46,621 | -€3,978 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | -€323,082 | €4,790,312 | +€5.1m | |
| Income taxes | 67/77 | €346 | €417,079 | +€416,733 | +120,513% |
| Profit (loss) for the period | 9904 | -€323,428 | €4,373,233 | +€4.7m | |
| Profit (loss) for the period to be appropriated | 9905 | -€323,428 | €4,373,233 | +€4.7m |
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 29 October 2026 via checked.be.