WBF: what changed
Two fiscal 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
WBF
NACE 46.442, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€33,515
2024 · €72,977-€106,493
Equity
€972,605
2024 · €1.0m-€33,515
Cash
€1.2m
2024 · €25,346+€1.1m
Balance sheet total
€3.7m
2024 · €2.6m+€1.1m
Largest movements
Assets
- Cash +€1.1m
up €1.1m (+4443.8%), from €25,346 to €1.2m
mainly Other debts (+€1.1m) and Depreciation (+€92,943)
Equity and liabilities
- Other debts +€1.1m
up €1.1m (+99.6%), from €1.2m to €2.3m
Income statement
- Gross operating margin -€152,717
down €152,717 (-69.3%), from €220,489 to €67,772
- Other operating charges -€16,341
down €16,341 (-56.2%), from €29,069 to €12,728
- Depreciation +€11,900
up €11,900 (+14.7%), from €81,043 to €92,943
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
€72,977
Gross operating margin
-€152,717
Depreciation
-€11,900
Other operating charges
+€16,341
Financial income
+€1,587
Financial charges
+€41
Taxes
-€10
Deferred taxes and other
+€40,163
Result 2025
-€33,515
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.
From operations
+€1.2m
Investment
-€86,507
Financing
-€11,283
Cash 2024
€25,346
From operations (derived)
+€1.2m
Net result for the year
-€33,515
Depreciation
+€92,943
Receivables within one year
+€32,692
Deferred charges and accrued income
-€21,132
Provisions
-€11,345
Trade debts
+€17,364
Tax, wage and social debts
-€1,863
Other debts
+€1.1m
Investment (derived)
-€86,507
Investment in fixed assets (net)
-€86,507
Financing
-€11,283
Debts after one year
-€11,644
Current portion of long-term debt
+€361
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,550,851 | €3,659,198 | +€1.1m | +43.5% |
| Fixed assets | 21/28 | €2,468,172 | €2,461,737 | -€6,436 | -0.3% |
| Tangible fixed assets | 22/27 | €2,468,172 | €2,461,737 | -€6,436 | -0.3% |
| Land and buildings | 22 | €2,468,172 | €2,455,493 | -€12,679 | -0.5% |
| Plant, machinery and equipment | 23 | - | €6,244 | +€6,244 | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €82,679 | €1,197,461 | +€1.1m | +1348.3% |
| Amounts receivable within one year | 40/41 | €46,882 | €14,190 | -€32,692 | -69.7% |
| Trade receivables | 40 | €17,071 | €12,790 | -€4,281 | -25.1% |
| Other amounts receivable | 41 | €29,811 | €1,400 | -€28,411 | -95.3% |
| Cash at bank and in hand | 54/58 | €25,346 | €1,151,689 | +€1.1m | +4443.8% |
| Deferred charges and accrued income | 490/1 | €10,451 | €31,582 | +€21,132 | +202.2% |
| Total equity and liabilities | 10/49 | €2,550,851 | €3,659,198 | +€1.1m | +43.5% |
| Equity | 10/15 | €1,006,121 | €972,605 | -€33,515 | -3.3% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €974,529 | €940,493 | -€34,036 | -3.5% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Legal reserve | 130 | €8,000 | €8,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €966,529 | €932,493 | -€34,036 | -3.5% |
| Profit (loss) carried forward | 14 | -€48,408 | -€47,888 | +€520 | +1.1% |
| Provisions and deferred taxes | 16 | €308,143 | €296,798 | -€11,345 | -3.7% |
| Deferred taxes | 168 | €308,143 | €296,798 | -€11,345 | -3.7% |
| Amounts payable | 17/49 | €1,236,588 | €2,389,795 | +€1.2m | +93.3% |
| Amounts payable after more than one year | 17 | €47,776 | €36,133 | -€11,644 | -24.4% |
| Financial debts | 170/4 | €47,776 | €36,133 | -€11,644 | -24.4% |
| Amounts payable within one year | 42/48 | €1,188,811 | €2,353,663 | +€1.2m | +98.0% |
| Current portion of amounts payable after more than one year | 42 | €11,283 | €11,644 | +€361 | +3.2% |
| Trade debts | 44 | €14,170 | €31,534 | +€17,364 | +122.5% |
| Suppliers | 440/4 | €14,170 | €31,534 | +€17,364 | +122.5% |
| Taxes, remuneration and social security | 45 | €9,379 | €7,517 | -€1,863 | -19.9% |
| Taxes | 450/3 | €9,379 | €7,517 | -€1,863 | -19.9% |
| Other amounts payable | 47/48 | €1,153,979 | €2,302,968 | +€1.1m | +99.6% |
| Non-recurring operating income | 76A | €163,402 | €25,877 | -€137,526 | -84.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,043 | €92,943 | +€11,900 | +14.7% |
| Other operating charges | 640/8 | €29,069 | €12,728 | -€16,341 | -56.2% |
| Gross operating margin | 9900 | €220,489 | €67,772 | -€152,717 | -69.3% |
| Operating profit (loss) | 9901 | €110,377 | -€37,898 | -€148,275 | |
| Financial income | 75/76B | €0 | €1,587 | +€1,587 | |
| Recurring financial income | 75 | €0 | €1,587 | +€1,587 | |
| Financial charges | 65/66B | €8,333 | €8,292 | -€41 | -0.5% |
| Recurring financial charges | 65 | €8,333 | €8,292 | -€41 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €102,043 | -€44,603 | -€146,647 | |
| Transfer from deferred taxes | 780 | €10,657 | €11,345 | +€688 | +6.5% |
| Transfer to deferred taxes | 680 | €39,475 | €0 | -€39,475 | -100.0% |
| Income taxes | 67/77 | €248 | €258 | +€10 | +3.9% |
| Profit (loss) for the period | 9904 | €72,977 | -€33,515 | -€106,493 | |
| Transfer from tax-exempt reserves | 789 | €31,972 | €34,036 | +€2,064 | +6.5% |
| Transfer to tax-exempt reserves | 689 | €118,426 | €0 | -€118,426 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,476 | €520 | +€13,997 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.