WDB BELGIUM: 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.
WDB BELGIUM
Largest movements
- Cash -€680,924
down €680,924 (-88.8%), from €766,977 to €86,053
mainly Trade debts (-€737,414) and Net result for the year (-€148,594)
- Receivables within one year -€205,311
down €205,311 (-10.6%), from €1.9m to €1.7m
of which Trade receivables: -€235,341
- Trade debts -€737,414
down €737,414 (-41.1%), from €1.8m to €1.1m
- Profit (loss) carried forward -€148,594
down €148,594 (-9.4%), from €1.6m to €1.4m
- Gross operating margin -€229,394
down €229,394 (-36.3%), from €632,741 to €403,348
- Financial charges +€169,764
up €169,764 (+1174.5%), from €14,454 to €184,218
- Staff costs -€78,958
down €78,958 (-19.0%), from €414,969 to €336,011
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 | €4,150,703 | €3,253,149 | -€897,554 | -21.6% |
| Fixed assets | 21/28 | €70,274 | €80,878 | +€10,604 | +15.1% |
| Tangible fixed assets | 22/27 | €63,474 | €74,078 | +€10,604 | +16.7% |
| Plant, machinery and equipment | 23 | €652 | €403 | -€249 | -38.2% |
| Furniture and vehicles | 24 | €56,666 | €69,470 | +€12,804 | +22.6% |
| Other tangible fixed assets | 26 | €6,156 | €4,205 | -€1,951 | -31.7% |
| Financial fixed assets | 28 | €6,800 | €6,800 | = | 0.0% |
| Current assets | 29/58 | €4,080,429 | €3,172,271 | -€908,159 | -22.3% |
| Stocks and contracts in progress | 3 | €1,367,641 | €1,342,732 | -€24,909 | -1.8% |
| Stocks | 30/36 | €1,367,641 | €1,342,732 | -€24,909 | -1.8% |
| Amounts receivable within one year | 40/41 | €1,942,343 | €1,737,032 | -€205,311 | -10.6% |
| Trade receivables | 40 | €1,935,387 | €1,700,045 | -€235,341 | -12.2% |
| Other amounts receivable | 41 | €6,957 | €36,987 | +€30,030 | +431.7% |
| Cash at bank and in hand | 54/58 | €766,977 | €86,053 | -€680,924 | -88.8% |
| Deferred charges and accrued income | 490/1 | €3,468 | €6,453 | +€2,986 | +86.1% |
| Total equity and liabilities | 10/49 | €4,150,703 | €3,253,149 | -€897,554 | -21.6% |
| Equity | 10/15 | €1,652,850 | €1,504,256 | -€148,594 | -9.0% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,586,850 | €1,438,256 | -€148,594 | -9.4% |
| Amounts payable | 17/49 | €2,497,853 | €1,748,893 | -€748,960 | -30.0% |
| Amounts payable within one year | 42/48 | €2,497,853 | €1,748,893 | -€748,960 | -30.0% |
| Trade debts | 44 | €1,795,448 | €1,058,034 | -€737,414 | -41.1% |
| Suppliers | 440/4 | €1,795,448 | €1,058,034 | -€737,414 | -41.1% |
| Advances received on contracts in progress | 46 | €21,845 | €18,552 | -€3,293 | -15.1% |
| Taxes, remuneration and social security | 45 | €8,732 | €7,636 | -€1,096 | -12.5% |
| Taxes | 450/3 | €8,651 | €7,555 | -€1,096 | -12.7% |
| Remuneration and social security | 454/9 | €81 | €81 | = | 0.0% |
| Other amounts payable | 47/48 | €671,828 | €664,671 | -€7,157 | -1.1% |
| Non-recurring operating income | 76A | €8,219 | €14,271 | +€6,052 | +73.6% |
| Remuneration, social security and pensions | 62 | €414,969 | €336,011 | -€78,958 | -19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,693 | €22,536 | +€2,843 | +14.4% |
| Other operating charges | 640/8 | €2,874 | €1,622 | -€1,252 | -43.6% |
| Gross operating margin | 9900 | €632,741 | €403,348 | -€229,394 | -36.3% |
| Operating profit (loss) | 9901 | €195,205 | €43,179 | -€152,026 | -77.9% |
| Financial income | 75/76B | €558 | - | -€558 | |
| Recurring financial income | 75 | €558 | - | -€558 | |
| Financial charges | 65/66B | €14,454 | €184,218 | +€169,764 | +1174.5% |
| Recurring financial charges | 65 | €14,454 | €184,218 | +€169,764 | +1174.5% |
| Profit (loss) for the period before taxes | 9903 | €181,308 | -€141,039 | -€322,348 | |
| Income taxes | 67/77 | €8,651 | €7,555 | -€1,096 | -12.7% |
| Profit (loss) for the period | 9904 | €172,658 | -€148,594 | -€321,252 | |
| Profit (loss) for the period to be appropriated | 9905 | €172,658 | -€148,594 | -€321,252 |
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.