WD Infra: 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 Infra
Largest movements
- Current investments +€28,000
new in 2025: €28,000
- Receivables within one year +€16,996
up €16,996 (+153%), from €11,101 to €28,096
- Cash +€15,726
up €15,726 (+85.3%), from €18,444 to €34,170
mainly Net result for the year (+€45,324) and Depreciation (+€10,516)
- Tangible fixed assets -€9,505
down €9,505 (-21.8%), from €43,676 to €34,171
of which Other tangible fixed assets: -€9,467
- Reserves +€60,000
new in 2025: €60,000
- Profit (loss) carried forward -€14,676
down €14,676 (-82.6%), from €17,778 to €3,102
- Accrued charges and deferred income +€8,052
up €8,052 (+16,041%), from €50 to €8,103
- Debts after one year -€7,825
down €7,825 (-30.5%), from €25,637 to €17,812
- Other debts +€5,395
up €5,395 (+30.2%), from €17,892 to €23,287
- Gross operating margin +€39,544
up €39,544 (+119%), from €33,297 to €72,842
- Taxes +€8,861
up €8,861 (+197%), from €4,500 to €13,361
- Depreciation +€2,623
up €2,623 (+33.2%), from €7,893 to €10,516
- Financial charges +€1,712
up €1,712 (+155%), from €1,108 to €2,820
- Other operating charges -€830
down €830 (-40.9%), from €2,030 to €1,200
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 | €74,002 | €125,609 | +€51,608 | +69.7% |
| Fixed assets | 21/28 | €43,676 | €34,171 | -€9,505 | -21.8% |
| Tangible fixed assets | 22/27 | €43,676 | €34,171 | -€9,505 | -21.8% |
| Plant, machinery and equipment | 23 | €2,196 | €2,528 | +€332 | +15.1% |
| Furniture and vehicles | 24 | €1,757 | €1,387 | -€370 | -21.1% |
| Other tangible fixed assets | 26 | €39,723 | €30,256 | -€9,467 | -23.8% |
| Current assets | 29/58 | €30,326 | €91,438 | +€61,113 | +202% |
| Stocks and contracts in progress | 3 | €781 | - | -€781 | |
| Stocks | 30/36 | €781 | - | -€781 | |
| Amounts receivable within one year | 40/41 | €11,101 | €28,096 | +€16,996 | +153% |
| Trade receivables | 40 | €11,101 | €28,096 | +€16,996 | +153% |
| Current investments | 50/53 | - | €28,000 | +€28,000 | |
| Cash at bank and in hand | 54/58 | €18,444 | €34,170 | +€15,726 | +85.3% |
| Deferred charges and accrued income | 490/1 | - | €1,172 | +€1,172 | |
| Total equity and liabilities | 10/49 | €74,002 | €125,609 | +€51,608 | +69.7% |
| Equity | 10/15 | €22,778 | €68,102 | +€45,324 | +199% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €60,000 | +€60,000 | |
| Distributable reserves | 133 | - | €60,000 | +€60,000 | |
| Profit (loss) carried forward | 14 | €17,778 | €3,102 | -€14,676 | -82.6% |
| Amounts payable | 17/49 | €51,224 | €57,507 | +€6,284 | +12.3% |
| Amounts payable after more than one year | 17 | €25,637 | €17,812 | -€7,825 | -30.5% |
| Financial debts | 170/4 | €25,637 | €17,812 | -€7,825 | -30.5% |
| Amounts payable within one year | 42/48 | €25,536 | €31,593 | +€6,057 | +23.7% |
| Current portion of amounts payable after more than one year | 42 | €7,515 | €7,825 | +€311 | +4.1% |
| Trade debts | 44 | €130 | €481 | +€351 | +270% |
| Suppliers | 440/4 | €130 | €481 | +€351 | +270% |
| Other amounts payable | 47/48 | €17,892 | €23,287 | +€5,395 | +30.2% |
| Accrued charges and deferred income | 492/3 | €50 | €8,103 | +€8,052 | +16,041% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,893 | €10,516 | +€2,623 | +33.2% |
| Other operating charges | 640/8 | €2,030 | €1,200 | -€830 | -40.9% |
| Gross operating margin | 9900 | €33,297 | €72,842 | +€39,544 | +119% |
| Operating profit (loss) | 9901 | €23,375 | €61,126 | +€37,751 | +162% |
| Financial income | 75/76B | €11 | €380 | +€368 | +3,210% |
| Recurring financial income | 75 | €11 | €380 | +€368 | +3,210% |
| Financial charges | 65/66B | €1,108 | €2,820 | +€1,712 | +155% |
| Recurring financial charges | 65 | €1,108 | €2,820 | +€1,712 | +155% |
| Profit (loss) for the period before taxes | 9903 | €22,278 | €58,685 | +€36,407 | +163% |
| Income taxes | 67/77 | €4,500 | €13,361 | +€8,861 | +197% |
| Profit (loss) for the period | 9904 | €17,778 | €45,324 | +€27,546 | +155% |
| Profit (loss) for the period to be appropriated | 9905 | €17,778 | €45,324 | +€27,546 | +155% |
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 14 October 2026 via checked.be.