WB Projects: 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.
WB Projects
Largest movements
- Cash +€121,588
up €121,588 (+261.3%), from €46,524 to €168,113
mainly Stocks and contracts (+€34,039) and Debts after one year (+€31,811)
- Tangible fixed assets +€41,572
up €41,572 (+319.9%), from €12,997 to €54,569
of which Leasing and similar rights: +€28,409
- Stocks and contracts -€34,039
down €34,039 (-25.7%), from €132,677 to €98,638
of which Contracts in progress: -€34,564
- Receivables within one year -€20,787
down €20,787 (-13.1%), from €159,016 to €138,230
of which Trade receivables: -€16,613
- Debts after one year +€31,811
up €31,811 (+181.0%), from €17,580 to €49,391
- Other debts +€24,722
up €24,722 (+75.6%), from €32,722 to €57,444
- Current portion of long-term debt +€23,295
up €23,295 (+143.0%), from €16,290 to €39,585
- Profit (loss) carried forward +€19,485
up €19,485 (+12.0%), from €162,259 to €181,745
- Tax, wage and social debts +€5,404
up €5,404 (+17.6%), from €30,771 to €36,175
of which Remuneration and social security: +€14,677
- Staff costs -€17,898
no longer reported in 2025 (was €17,898)
- Depreciation +€5,584
up €5,584 (+69.8%), from €8,002 to €13,586
- Gross operating margin +€5,082
up €5,082 (+10.8%), from €47,050 to €52,132
- Taxes +€4,502
up €4,502 (+109.8%), from €4,100 to €8,602
- Other operating charges -€1,341
down €1,341 (-17.3%), from €7,767 to €6,426
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 | €351,215 | €459,550 | +€108,335 | +30.8% |
| Fixed assets | 21/28 | €12,997 | €54,569 | +€41,572 | +319.9% |
| Tangible fixed assets | 22/27 | €12,997 | €54,569 | +€41,572 | +319.9% |
| Plant, machinery and equipment | 23 | €4,279 | €4,917 | +€638 | +14.9% |
| Furniture and vehicles | 24 | €8,718 | €21,243 | +€12,525 | +143.7% |
| Leasing and similar rights | 25 | - | €28,409 | +€28,409 | |
| Current assets | 29/58 | €338,218 | €404,981 | +€66,763 | +19.7% |
| Stocks and contracts in progress | 3 | €132,677 | €98,638 | -€34,039 | -25.7% |
| Stocks | 30/36 | €64,375 | €64,900 | +€525 | +0.8% |
| Contracts in progress | 37 | €68,302 | €33,738 | -€34,564 | -50.6% |
| Amounts receivable within one year | 40/41 | €159,016 | €138,230 | -€20,787 | -13.1% |
| Trade receivables | 40 | €129,814 | €113,201 | -€16,613 | -12.8% |
| Other amounts receivable | 41 | €29,203 | €25,029 | -€4,174 | -14.3% |
| Cash at bank and in hand | 54/58 | €46,524 | €168,113 | +€121,588 | +261.3% |
| Total equity and liabilities | 10/49 | €351,215 | €459,550 | +€108,335 | +30.8% |
| Equity | 10/15 | €250,219 | €269,705 | +€19,485 | +7.8% |
| Contributions | 10/11 | €43,600 | €43,600 | = | 0.0% |
| Reserves | 13 | €44,360 | €44,360 | = | 0.0% |
| Distributable reserves | 133 | €44,360 | €44,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €162,259 | €181,745 | +€19,485 | +12.0% |
| Amounts payable | 17/49 | €100,996 | €189,845 | +€88,849 | +88.0% |
| Amounts payable after more than one year | 17 | €17,580 | €49,391 | +€31,811 | +181.0% |
| Financial debts | 170/4 | €17,580 | €49,391 | +€31,811 | +181.0% |
| Amounts payable within one year | 42/48 | €83,416 | €140,455 | +€57,038 | +68.4% |
| Current portion of amounts payable after more than one year | 42 | €16,290 | €39,585 | +€23,295 | +143.0% |
| Trade debts | 44 | €3,632 | €7,250 | +€3,618 | +99.6% |
| Suppliers | 440/4 | €3,632 | €7,250 | +€3,618 | +99.6% |
| Taxes, remuneration and social security | 45 | €30,771 | €36,175 | +€5,404 | +17.6% |
| Taxes | 450/3 | €13,374 | €4,100 | -€9,274 | -69.3% |
| Remuneration and social security | 454/9 | €17,398 | €32,075 | +€14,677 | +84.4% |
| Other amounts payable | 47/48 | €32,722 | €57,444 | +€24,722 | +75.6% |
| Non-recurring operating income | 76A | - | €11,331 | +€11,331 | |
| Remuneration, social security and pensions | 62 | €17,898 | - | -€17,898 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,002 | €13,586 | +€5,584 | +69.8% |
| Other operating charges | 640/8 | €7,767 | €6,426 | -€1,341 | -17.3% |
| Non-recurring operating charges | 66A | €350 | - | -€350 | |
| Gross operating margin | 9900 | €47,050 | €52,132 | +€5,082 | +10.8% |
| Operating profit (loss) | 9901 | €13,032 | €32,119 | +€19,087 | +146.5% |
| Financial charges | 65/66B | €3,348 | €4,032 | +€684 | +20.4% |
| Recurring financial charges | 65 | €3,348 | €4,032 | +€684 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | €9,684 | €28,088 | +€18,404 | +190.0% |
| Income taxes | 67/77 | €4,100 | €8,602 | +€4,502 | +109.8% |
| Profit (loss) for the period | 9904 | €5,584 | €19,485 | +€13,901 | +248.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,584 | €19,485 | +€13,901 | +248.9% |
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.