WCIF: 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
WCIF
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €331,004+€1.7m
Equity
€18.0m
2024 · €16.0m+€2.1m
Cash
€4.7m
2024 · €734,901+€3.9m
Balance sheet total
€18.9m
2024 · €16.7m+€2.1m
Largest movements
Assets
- Cash +€3.9m
up €3.9m (+537%), from €734,901 to €4.7m
mainly Net result for the year (+€2.1m) and Receivables after one year (+€1.9m)
- Receivables after one year -€1.9m
down €1.9m (-19.1%), from €10.0m to €8.1m
- Financial fixed assets +€250,000
up €250,000 (+95.9%), from €260,568 to €510,568
Equity and liabilities
- Profit (loss) carried forward +€1.8m
up €1.8m (+14.0%), from €12.6m to €14.3m
- Reserves +€325,392
up €325,392 (+17.9%), from €1.8m to €2.1m
of which Tax-exempt reserves: +€325,392
Income statement
- Gross operating margin +€2.4m
up €2.4m (+299%), from €805,650 to €3.2m
- Taxes +€386,700
up €386,700 (+193%), from €200,115 to €586,815
- Depreciation +€34,844
up €34,844 (+6.9%), from €507,761 to €542,605
- Financial income -€32,261
down €32,261 (-10.7%), from €300,804 to €268,543
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
€331,004
Gross operating margin
+€2.4m
Staff costs
-€2,738
Depreciation
-€34,844
Other operating charges
-€9,565
Financial income
-€32,261
Financial charges
+€5,481
Taxes
-€386,700
Deferred taxes and other
-€196,345
Result 2025
€2.1m
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
+€4.6m
Investment
-€617,227
Financing
€0
Cash 2024
€734,901
From operations (derived)
+€4.6m
Net result for the year
+€2.1m
Depreciation
+€542,605
Receivables after one year
+€1.9m
Receivables within one year
+€11,900
Smaller working-capital items
-€5,129
Provisions
+€108,464
Trade debts
+€55,416
Tax, wage and social debts
+€39,867
Other debts
-€170,051
Investment (derived)
-€617,227
Investment in fixed assets (net)
-€617,227
Cash 2025
€4.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,747,633 | €18,856,090 | +€2.1m | +12.6% |
| Fixed assets | 21/28 | €5,540,602 | €5,615,224 | +€74,622 | +1.3% |
| Tangible fixed assets | 22/27 | €5,280,033 | €5,104,655 | -€175,378 | -3.3% |
| Land and buildings | 22 | €5,257,903 | €5,078,446 | -€179,457 | -3.4% |
| Plant, machinery and equipment | 23 | €22,079 | €17,548 | -€4,531 | -20.5% |
| Furniture and vehicles | 24 | €51 | €8,661 | +€8,610 | +16,741% |
| Financial fixed assets | 28 | €260,568 | €510,568 | +€250,000 | +95.9% |
| Current assets | 29/58 | €11,207,031 | €13,240,866 | +€2.0m | +18.1% |
| Amounts receivable after more than one year | 29 | €9,953,744 | €8,051,350 | -€1.9m | -19.1% |
| Other amounts receivable | 291 | €9,953,744 | €8,051,350 | -€1.9m | -19.1% |
| Amounts receivable within one year | 40/41 | €310,818 | €298,918 | -€11,900 | -3.8% |
| Trade receivables | 40 | €59,082 | €51,159 | -€7,923 | -13.4% |
| Other amounts receivable | 41 | €251,736 | €247,759 | -€3,977 | -1.6% |
| Cash at bank and in hand | 54/58 | €734,901 | €4,682,410 | +€3.9m | +537% |
| Deferred charges and accrued income | 490/1 | €207,568 | €208,188 | +€620 | +0.3% |
| Total equity and liabilities | 10/49 | €16,747,633 | €18,856,090 | +€2.1m | +12.6% |
| Equity | 10/15 | €15,952,235 | €18,031,504 | +€2.1m | +13.0% |
| Contributions | 10/11 | €1,573,651 | €1,573,651 | = | 0.0% |
| Revaluation surpluses | 12 | €9,010 | €9,010 | = | 0.0% |
| Reserves | 13 | €1,815,783 | €2,141,175 | +€325,392 | +17.9% |
| Tax-exempt reserves | 132 | €1,554,124 | €1,879,516 | +€325,392 | +20.9% |
| Distributable reserves | 133 | €261,660 | €261,660 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,553,791 | €14,307,668 | +€1.8m | +14.0% |
| Provisions and deferred taxes | 16 | €513,855 | €622,319 | +€108,464 | +21.1% |
| Deferred taxes | 168 | €513,855 | €622,319 | +€108,464 | +21.1% |
| Amounts payable | 17/49 | €281,543 | €202,267 | -€79,276 | -28.2% |
| Amounts payable after more than one year | 17 | €170 | €170 | = | 0.0% |
| Other amounts payable | 178/9 | €170 | €170 | = | 0.0% |
| Amounts payable within one year | 42/48 | €276,723 | €201,956 | -€74,767 | -27.0% |
| Trade debts | 44 | €100,901 | €156,317 | +€55,416 | +54.9% |
| Suppliers | 440/4 | €100,901 | €156,317 | +€55,416 | +54.9% |
| Taxes, remuneration and social security | 45 | €4,897 | €44,764 | +€39,867 | +814% |
| Taxes | 450/3 | €0 | €38,103 | +€38,103 | |
| Remuneration and social security | 454/9 | €4,897 | €6,661 | +€1,764 | +36.0% |
| Other amounts payable | 47/48 | €170,925 | €875 | -€170,051 | -99.5% |
| Accrued charges and deferred income | 492/3 | €4,650 | €141 | -€4,509 | -97.0% |
| Non-recurring operating income | 76A | €134,812 | €2,463,288 | +€2.3m | +1,727% |
| Remuneration, social security and pensions | 62 | €69,463 | €72,201 | +€2,738 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €507,761 | €542,605 | +€34,844 | +6.9% |
| Other operating charges | 640/8 | €73,032 | €82,597 | +€9,565 | +13.1% |
| Gross operating margin | 9900 | €805,650 | €3,210,887 | +€2.4m | +299% |
| Operating profit (loss) | 9901 | €155,395 | €2,513,485 | +€2.4m | +1,517% |
| Financial income | 75/76B | €300,804 | €268,543 | -€32,261 | -10.7% |
| Recurring financial income | 75 | €300,804 | €268,543 | -€32,261 | -10.7% |
| Financial charges | 65/66B | €12,961 | €7,481 | -€5,481 | -42.3% |
| Recurring financial charges | 65 | €12,961 | €7,481 | -€5,481 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €443,237 | €2,774,547 | +€2.3m | +526% |
| Transfer from deferred taxes | 780 | €87,882 | €191,652 | +€103,770 | +118% |
| Transfer to deferred taxes | 680 | - | €300,115 | +€300,115 | |
| Income taxes | 67/77 | €200,115 | €586,815 | +€386,700 | +193% |
| Profit (loss) for the period | 9904 | €331,004 | €2,079,269 | +€1.7m | +528% |
| Transfer from tax-exempt reserves | 789 | €263,645 | €574,954 | +€311,310 | +118% |
| Transfer to tax-exempt reserves | 689 | - | €900,346 | +€900,346 | |
| Profit (loss) for the period to be appropriated | 9905 | €594,648 | €1,753,877 | +€1.2m | +195% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.