WD48: 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.
WD48
Largest movements
- Cash +€41,627
up €41,627 (+209.9%), from €19,836 to €61,463
mainly Trade debts (+€37,485) and Depreciation (+€23,186)
- Receivables within one year -€8,635
down €8,635 (-29.6%), from €29,199 to €20,564
of which Trade receivables: -€8,635
- Deferred charges and accrued income +€5,437
up €5,437 (+266.0%), from €2,044 to €7,481
- Tangible fixed assets -€3,363
down €3,363 (-7.2%), from €46,731 to €43,368
of which Furniture and vehicles: -€4,609
- Trade debts +€37,485
up €37,485 (+16106.7%), from €233 to €37,718
- Reserves +€27,200
new in 2025: €27,200
- Profit (loss) carried forward -€15,000
down €15,000 (-79.6%), from €18,836 to €3,836
- Current portion of long-term debt -€14,707
no longer reported in 2025 (was €14,707)
- Debts after one year +€6,000
up €6,000 (+42.9%), from €14,000 to €20,000
of which Other amounts payable: +€20,000
- Gross operating margin +€5,995
up €5,995 (+16.9%), from €35,407 to €41,402
- Depreciation +€1,607
up €1,607 (+7.4%), from €21,579 to €23,186
- Taxes +€1,333
up €1,333 (+47.0%), from €2,834 to €4,166
- Staff costs -€626
no longer reported in 2025 (was €626)
- Financial charges -€617
down €617 (-28.8%), from €2,143 to €1,525
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 | €98,610 | €133,676 | +€35,066 | +35.6% |
| Fixed assets | 21/28 | €47,531 | €44,168 | -€3,363 | -7.1% |
| Tangible fixed assets | 22/27 | €46,731 | €43,368 | -€3,363 | -7.2% |
| Plant, machinery and equipment | 23 | €15,506 | €16,752 | +€1,246 | +8.0% |
| Furniture and vehicles | 24 | €31,225 | €26,616 | -€4,609 | -14.8% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €51,079 | €89,508 | +€38,429 | +75.2% |
| Amounts receivable within one year | 40/41 | €29,199 | €20,564 | -€8,635 | -29.6% |
| Trade receivables | 40 | €29,150 | €20,515 | -€8,635 | -29.6% |
| Other amounts receivable | 41 | €49 | €49 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,836 | €61,463 | +€41,627 | +209.9% |
| Deferred charges and accrued income | 490/1 | €2,044 | €7,481 | +€5,437 | +266.0% |
| Total equity and liabilities | 10/49 | €98,610 | €133,676 | +€35,066 | +35.6% |
| Equity | 10/15 | €21,336 | €33,536 | +€12,200 | +57.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €27,200 | +€27,200 | |
| Distributable reserves | 133 | - | €27,200 | +€27,200 | |
| Profit (loss) carried forward | 14 | €18,836 | €3,836 | -€15,000 | -79.6% |
| Amounts payable | 17/49 | €77,274 | €100,140 | +€22,866 | +29.6% |
| Amounts payable after more than one year | 17 | €14,000 | €20,000 | +€6,000 | +42.9% |
| Financial debts | 170/4 | €14,000 | - | -€14,000 | |
| Other amounts payable | 178/9 | - | €20,000 | +€20,000 | |
| Amounts payable within one year | 42/48 | €61,651 | €79,640 | +€17,989 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €14,707 | - | -€14,707 | |
| Trade debts | 44 | €233 | €37,718 | +€37,485 | +16106.7% |
| Suppliers | 440/4 | €233 | €37,718 | +€37,485 | +16106.7% |
| Taxes, remuneration and social security | 45 | €6,702 | €7,034 | +€332 | +5.0% |
| Taxes | 450/3 | €6,702 | €7,034 | +€332 | +5.0% |
| Other amounts payable | 47/48 | €40,009 | €34,888 | -€5,121 | -12.8% |
| Accrued charges and deferred income | 492/3 | €1,623 | €500 | -€1,123 | -69.2% |
| Remuneration, social security and pensions | 62 | €626 | - | -€626 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,579 | €23,186 | +€1,607 | +7.4% |
| Other operating charges | 640/8 | €1,566 | €1,740 | +€174 | +11.1% |
| Gross operating margin | 9900 | €35,407 | €41,402 | +€5,995 | +16.9% |
| Operating profit (loss) | 9901 | €11,636 | €16,477 | +€4,840 | +41.6% |
| Financial income | 75/76B | €994 | €1,415 | +€421 | +42.3% |
| Recurring financial income | 75 | €994 | €1,415 | +€421 | +42.3% |
| Financial charges | 65/66B | €2,143 | €1,525 | -€617 | -28.8% |
| Recurring financial charges | 65 | €2,143 | €1,525 | -€617 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €10,488 | €16,366 | +€5,878 | +56.0% |
| Income taxes | 67/77 | €2,834 | €4,166 | +€1,333 | +47.0% |
| Profit (loss) for the period | 9904 | €7,654 | €12,200 | +€4,546 | +59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,654 | €12,200 | +€4,546 | +59.4% |
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 10 October 2026 via checked.be.