WBUILD: 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.
WBUILD
Largest movements
- Tangible fixed assets +€125,428
up €125,428 (+39.9%), from €313,970 to €439,397
of which Assets under construction and advance payments: +€83,491
- Receivables within one year +€33,913
up €33,913 (+116.7%), from €29,048 to €62,960
of which Other amounts receivable: +€27,136
- Deferred charges and accrued income +€26,893
up €26,893 (+1712.1%), from €1,571 to €28,464
- Reserves +€90,624
up €90,624 (+15.8%), from €575,116 to €665,740
- Trade debts +€49,025
up €49,025 (+3317.8%), from €1,478 to €50,503
- Tax, wage and social debts +€36,650
up €36,650 (+154.2%), from €23,761 to €60,411
- Gross operating margin +€212,737
up €212,737 (+117.7%), from €180,701 to €393,438
- Taxes +€66,459
up €66,459 (+133.4%), from €49,811 to €116,269
- Depreciation +€10,415
up €10,415 (+55.7%), from €18,700 to €29,114
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 | €1,002,514 | €1,178,813 | +€176,299 | +17.6% |
| Fixed assets | 21/28 | €313,970 | €439,397 | +€125,428 | +39.9% |
| Tangible fixed assets | 22/27 | €313,970 | €439,397 | +€125,428 | +39.9% |
| Land and buildings | 22 | €288,681 | €306,271 | +€17,590 | +6.1% |
| Plant, machinery and equipment | 23 | €2,413 | €1,288 | -€1,125 | -46.6% |
| Furniture and vehicles | 24 | €15,822 | €42,660 | +€26,838 | +169.6% |
| Other tangible fixed assets | 26 | €7,055 | €5,688 | -€1,366 | -19.4% |
| Assets under construction and advance payments | 27 | - | €83,491 | +€83,491 | |
| Current assets | 29/58 | €688,545 | €739,416 | +€50,871 | +7.4% |
| Amounts receivable within one year | 40/41 | €29,048 | €62,960 | +€33,913 | +116.7% |
| Trade receivables | 40 | - | €6,777 | +€6,777 | |
| Other amounts receivable | 41 | €29,048 | €56,183 | +€27,136 | +93.4% |
| Cash at bank and in hand | 54/58 | €657,926 | €647,992 | -€9,934 | -1.5% |
| Deferred charges and accrued income | 490/1 | €1,571 | €28,464 | +€26,893 | +1712.1% |
| Total equity and liabilities | 10/49 | €1,002,514 | €1,178,813 | +€176,299 | +17.6% |
| Equity | 10/15 | €977,275 | €1,067,899 | +€90,624 | +9.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €575,116 | €665,740 | +€90,624 | +15.8% |
| Distributable reserves | 133 | €575,116 | €665,740 | +€90,624 | +15.8% |
| Profit (loss) carried forward | 14 | €395,959 | €395,959 | = | 0.0% |
| Amounts payable | 17/49 | €25,239 | €110,914 | +€85,675 | +339.5% |
| Amounts payable within one year | 42/48 | €25,239 | €110,914 | +€85,675 | +339.5% |
| Trade debts | 44 | €1,478 | €50,503 | +€49,025 | +3317.8% |
| Suppliers | 440/4 | €1,478 | €50,503 | +€49,025 | +3317.8% |
| Taxes, remuneration and social security | 45 | €23,761 | €60,411 | +€36,650 | +154.2% |
| Taxes | 450/3 | €23,761 | €60,411 | +€36,650 | +154.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,700 | €29,114 | +€10,415 | +55.7% |
| Other operating charges | 640/8 | €6,122 | €7,842 | +€1,720 | +28.1% |
| Gross operating margin | 9900 | €180,701 | €393,438 | +€212,737 | +117.7% |
| Operating profit (loss) | 9901 | €155,879 | €356,482 | +€200,603 | +128.7% |
| Financial income | 75/76B | €2,807 | €4,563 | +€1,756 | +62.6% |
| Recurring financial income | 75 | €2,807 | €4,563 | +€1,756 | +62.6% |
| Financial charges | 65/66B | €1,858 | €1,151 | -€707 | -38.1% |
| Recurring financial charges | 65 | €1,858 | €1,151 | -€707 | -38.1% |
| Profit (loss) for the period before taxes | 9903 | €156,827 | €359,894 | +€203,066 | +129.5% |
| Income taxes | 67/77 | €49,811 | €116,269 | +€66,459 | +133.4% |
| Profit (loss) for the period | 9904 | €107,016 | €243,624 | +€136,608 | +127.7% |
| Profit (loss) for the period to be appropriated | 9905 | €107,016 | €243,624 | +€136,608 | +127.7% |
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 9 October 2026 via checked.be.