WDB: what changed
Two fiscal 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.
WDB
Largest movements
- Tangible fixed assets -€94,533
down €94,533 (-92.1%), from €102,693 to €8,160
of which Other tangible fixed assets: -€87,156
- Receivables after one year +€90,000
new in 2025: €90,000
- Receivables within one year +€33,862
up €33,862 (+144.7%), from €23,396 to €57,259
of which Trade receivables: +€17,954
- Financial fixed assets -€14,245
down €14,245 (-98.2%), from €14,500 to €255
- Cash -€9,504
down €9,504 (-99.2%), from €9,580 to €76
mainly Receivables after one year (-€90,000) and Receivables within one year (-€33,862)
- Reserves +€81,778
up €81,778 (+301.0%), from €27,168 to €108,946
- Trade debts -€32,242
down €32,242 (-82.4%), from €39,140 to €6,898
- Current portion of long-term debt -€29,029
down €29,029 (-75.2%), from €38,599 to €9,570
- Debts after one year -€25,447
no longer reported in 2025 (was €25,447)
- Short-term financial debts +€6,082
up €6,082 (+168.1%), from €3,619 to €9,701
- Staff costs -€39,374
down €39,374 (-91.7%), from €42,951 to €3,576
- Depreciation -€35,498
down €35,498 (-92.1%), from €38,548 to €3,050
- Taxes +€18,612
up €18,612 (+133.2%), from €13,972 to €32,585
- Financial charges -€3,009
down €3,009 (-49.7%), from €6,050 to €3,040
- Gross operating margin -€2,128
down €2,128 (-1.7%), from €126,718 to €124,590
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 | €163,598 | €163,175 | -€423 | -0.3% |
| Fixed assets | 21/28 | €117,193 | €8,415 | -€108,778 | -92.8% |
| Tangible fixed assets | 22/27 | €102,693 | €8,160 | -€94,533 | -92.1% |
| Plant, machinery and equipment | 23 | €9,656 | €3,678 | -€5,978 | -61.9% |
| Furniture and vehicles | 24 | €5,881 | €4,481 | -€1,400 | -23.8% |
| Other tangible fixed assets | 26 | €87,156 | - | -€87,156 | |
| Financial fixed assets | 28 | €14,500 | €255 | -€14,245 | -98.2% |
| Current assets | 29/58 | €46,405 | €154,760 | +€108,355 | +233.5% |
| Amounts receivable after more than one year | 29 | - | €90,000 | +€90,000 | |
| Other amounts receivable | 291 | - | €90,000 | +€90,000 | |
| Stocks and contracts in progress | 3 | €3,533 | - | -€3,533 | |
| Stocks | 30/36 | €3,533 | - | -€3,533 | |
| Amounts receivable within one year | 40/41 | €23,396 | €57,259 | +€33,862 | +144.7% |
| Trade receivables | 40 | €1,802 | €19,755 | +€17,954 | +996.5% |
| Other amounts receivable | 41 | €21,595 | €37,503 | +€15,909 | +73.7% |
| Cash at bank and in hand | 54/58 | €9,580 | €76 | -€9,504 | -99.2% |
| Deferred charges and accrued income | 490/1 | €9,896 | €7,425 | -€2,470 | -25.0% |
| Total equity and liabilities | 10/49 | €163,598 | €163,175 | -€423 | -0.3% |
| Equity | 10/15 | €45,768 | €127,546 | +€81,778 | +178.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,168 | €108,946 | +€81,778 | +301.0% |
| Distributable reserves | 133 | €27,168 | €108,946 | +€81,778 | +301.0% |
| Amounts payable | 17/49 | €117,830 | €35,628 | -€82,201 | -69.8% |
| Amounts payable after more than one year | 17 | €25,447 | - | -€25,447 | |
| Financial debts | 170/4 | €25,447 | - | -€25,447 | |
| Amounts payable within one year | 42/48 | €92,383 | €35,628 | -€56,755 | -61.4% |
| Current portion of amounts payable after more than one year | 42 | €38,599 | €9,570 | -€29,029 | -75.2% |
| Financial debts | 43 | €3,619 | €9,701 | +€6,082 | +168.1% |
| Credit institutions | 430/8 | €3,619 | €9,701 | +€6,082 | +168.1% |
| Trade debts | 44 | €39,140 | €6,898 | -€32,242 | -82.4% |
| Suppliers | 440/4 | €39,140 | €6,898 | -€32,242 | -82.4% |
| Taxes, remuneration and social security | 45 | €11,026 | €9,460 | -€1,566 | -14.2% |
| Taxes | 450/3 | €6,195 | €9,460 | +€3,265 | +52.7% |
| Remuneration and social security | 454/9 | €4,830 | - | -€4,830 | |
| Non-recurring operating income | 76A | - | €172,491 | +€172,491 | |
| Remuneration, social security and pensions | 62 | €42,951 | €3,576 | -€39,374 | -91.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,548 | €3,050 | -€35,498 | -92.1% |
| Other operating charges | 640/8 | €1,376 | €1,420 | +€44 | +3.2% |
| Non-recurring operating charges | 66A | - | €1,235 | +€1,235 | |
| Gross operating margin | 9900 | €126,718 | €124,590 | -€2,128 | -1.7% |
| Operating profit (loss) | 9901 | €43,844 | €115,308 | +€71,464 | +163.0% |
| Financial income | 75/76B | €650 | €2,096 | +€1,446 | +222.5% |
| Recurring financial income | 75 | €650 | €1,781 | +€1,131 | +174.1% |
| Non-recurring financial income | 76B | - | €315 | +€315 | |
| Financial charges | 65/66B | €6,050 | €3,040 | -€3,009 | -49.7% |
| Recurring financial charges | 65 | €6,050 | €3,040 | -€3,009 | -49.7% |
| Profit (loss) for the period before taxes | 9903 | €38,443 | €114,363 | +€75,919 | +197.5% |
| Income taxes | 67/77 | €13,972 | €32,585 | +€18,612 | +133.2% |
| Profit (loss) for the period | 9904 | €24,471 | €81,778 | +€57,307 | +234.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,471 | €81,778 | +€57,307 | +234.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.