WD BEHEER: 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.
WD BEHEER
Largest movements
- Receivables after one year +€441,356
up €441,356 (+264%), from €167,245 to €608,601
- Current investments -€274,363
down €274,363 (-23.0%), from €1.2m to €921,113
- Cash +€45,368
up €45,368 (+64.2%), from €70,695 to €116,062
mainly Debts after one year (+€396,401) and Current investments (+€274,363)
- Receivables within one year +€20,935
up €20,935 (+24.5%), from €85,466 to €106,402
of which Other amounts receivable: +€20,249
- Debts after one year +€396,401
up €396,401 (+347%), from €114,125 to €510,526
- Reserves -€200,974
down €200,974 (-13.8%), from €1.5m to €1.3m
- Financial income -€1.0m
down €1.0m (-93.6%), from €1.1m to €70,502
of which Non-recurring financial income: -€1.1m
- Taxes -€125,270
down €125,270 (-99.8%), from €125,463 to €193
- Gross operating margin -€110,849
down €110,849 (-93.7%), from €118,260 to €7,411
- Financial charges +€40,071
up €40,071 (+188%), from €21,309 to €61,380
of which Non-recurring financial charges: +€29,979
- Depreciation +€1,688
up €1,688 (+11.5%), from €14,640 to €16,327
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,744,482 | €1,963,573 | +€219,090 | +12.6% |
| Fixed assets | 21/28 | €218,248 | €210,325 | -€7,923 | -3.6% |
| Tangible fixed assets | 22/27 | €218,248 | €210,325 | -€7,923 | -3.6% |
| Land and buildings | 22 | €217,682 | €203,325 | -€14,356 | -6.6% |
| Plant, machinery and equipment | 23 | €566 | €283 | -€283 | -50.0% |
| Furniture and vehicles | 24 | €0 | €6,717 | +€6,717 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,526,234 | €1,753,247 | +€227,013 | +14.9% |
| Amounts receivable after more than one year | 29 | €167,245 | €608,601 | +€441,356 | +264% |
| Other amounts receivable | 291 | €167,245 | €608,601 | +€441,356 | +264% |
| Amounts receivable within one year | 40/41 | €85,466 | €106,402 | +€20,935 | +24.5% |
| Trade receivables | 40 | €1,185 | €1,872 | +€687 | +57.9% |
| Other amounts receivable | 41 | €84,281 | €104,530 | +€20,249 | +24.0% |
| Current investments | 50/53 | €1,195,476 | €921,113 | -€274,363 | -23.0% |
| Cash at bank and in hand | 54/58 | €70,695 | €116,062 | +€45,368 | +64.2% |
| Deferred charges and accrued income | 490/1 | €7,352 | €1,069 | -€6,282 | -85.5% |
| Total equity and liabilities | 10/49 | €1,744,482 | €1,963,573 | +€219,090 | +12.6% |
| Equity | 10/15 | €1,459,516 | €1,258,542 | -€200,974 | -13.8% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €1,452,516 | €1,251,542 | -€200,974 | -13.8% |
| Distributable reserves | 133 | €1,452,516 | €1,251,542 | -€200,974 | -13.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €284,966 | €705,030 | +€420,065 | +147% |
| Amounts payable after more than one year | 17 | €114,125 | €510,526 | +€396,401 | +347% |
| Financial debts | 170/4 | €114,125 | €510,526 | +€396,401 | +347% |
| Amounts payable within one year | 42/48 | €170,841 | €194,505 | +€23,664 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €51,297 | €53,599 | +€2,302 | +4.5% |
| Financial debts | 43 | €5,651 | €0 | -€5,651 | -100% |
| Credit institutions | 430/8 | €5,651 | €0 | -€5,651 | -100% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €386 | €6,495 | +€6,109 | +1,582% |
| Suppliers | 440/4 | €386 | €6,495 | +€6,109 | +1,582% |
| Taxes, remuneration and social security | 45 | €113,086 | €117,378 | +€4,292 | +3.8% |
| Taxes | 450/3 | €113,086 | €117,378 | +€4,292 | +3.8% |
| Other amounts payable | 47/48 | €421 | €17,033 | +€16,612 | +3,947% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €77,709 | €0 | -€77,709 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,640 | €16,327 | +€1,688 | +11.5% |
| Other operating charges | 640/8 | €3,150 | €3,159 | +€9 | +0.3% |
| Non-recurring operating charges | 66A | €3,635 | €6,765 | +€3,130 | +86.1% |
| Gross operating margin | 9900 | €118,260 | €7,411 | -€110,849 | -93.7% |
| Operating profit (loss) | 9901 | €96,835 | -€18,841 | -€115,676 | |
| Financial income | 75/76B | €1,108,212 | €70,502 | -€1.0m | -93.6% |
| Recurring financial income | 75 | €9,935 | €47,590 | +€37,654 | +379% |
| Non-recurring financial income | 76B | €1,098,277 | €22,912 | -€1.1m | -97.9% |
| Financial charges | 65/66B | €21,309 | €61,380 | +€40,071 | +188% |
| Recurring financial charges | 65 | €21,309 | €31,401 | +€10,092 | +47.4% |
| Non-recurring financial charges | 66B | - | €29,979 | +€29,979 | |
| Profit (loss) for the period before taxes | 9903 | €1,183,738 | -€9,719 | -€1.2m | |
| Income taxes | 67/77 | €125,463 | €193 | -€125,270 | -99.8% |
| Profit (loss) for the period | 9904 | €1,058,276 | -€9,912 | -€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,058,276 | -€9,912 | -€1.1m |
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 16 October 2026 via checked.be.