WDG: 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.
WDG
Largest movements
- Cash -€255,749
down €255,749 (-91.6%), from €279,208 to €23,459
mainly Debts after one year (-€375,000) and Contributions, distributions and other (-€163,160)
- Debts after one year -€375,000
down €375,000 (-29.0%), from €1.3m to €920,000
- Other debts +€165,993
up €165,993 (+60.5%), from €274,305 to €440,299
- Reserves -€83,651
down €83,651 (-15.1%), from €553,140 to €469,490
- Financial charges -€20,085
down €20,085 (-24.4%), from €82,265 to €62,180
- Gross operating margin -€14,802
down €14,802 (-5.3%), from €279,216 to €264,414
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 | €6,520,455 | €6,198,671 | -€321,785 | -4.9% |
| Fixed assets | 21/28 | €6,227,736 | €6,167,774 | -€59,963 | -1.0% |
| Tangible fixed assets | 22/27 | €6,227,686 | €6,167,724 | -€59,963 | -1.0% |
| Land and buildings | 22 | €6,226,398 | €6,166,602 | -€59,797 | -1.0% |
| Plant, machinery and equipment | 23 | €1,288 | €1,122 | -€166 | -12.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €292,719 | €30,897 | -€261,822 | -89.4% |
| Amounts receivable within one year | 40/41 | €12,487 | €6,374 | -€6,114 | -49.0% |
| Trade receivables | 40 | - | €903 | +€903 | |
| Other amounts receivable | 41 | €12,487 | €5,471 | -€7,017 | -56.2% |
| Cash at bank and in hand | 54/58 | €279,208 | €23,459 | -€255,749 | -91.6% |
| Deferred charges and accrued income | 490/1 | €1,024 | €1,064 | +€40 | +3.9% |
| Total equity and liabilities | 10/49 | €6,520,455 | €6,198,671 | -€321,785 | -4.9% |
| Equity | 10/15 | €4,869,140 | €4,785,490 | -€83,651 | -1.7% |
| Contributions | 10/11 | €4,316,000 | €4,316,000 | = | 0.0% |
| Reserves | 13 | €553,140 | €469,490 | -€83,651 | -15.1% |
| Distributable reserves | 133 | €553,140 | €469,490 | -€83,651 | -15.1% |
| Amounts payable | 17/49 | €1,651,315 | €1,413,181 | -€238,134 | -14.4% |
| Amounts payable after more than one year | 17 | €1,295,000 | €920,000 | -€375,000 | -29.0% |
| Financial debts | 170/4 | €1,295,000 | €920,000 | -€375,000 | -29.0% |
| Amounts payable within one year | 42/48 | €289,176 | €449,348 | +€160,171 | +55.4% |
| Trade debts | 44 | €4,318 | €1,290 | -€3,027 | -70.1% |
| Suppliers | 440/4 | €4,318 | €1,290 | -€3,027 | -70.1% |
| Taxes, remuneration and social security | 45 | €10,553 | €7,758 | -€2,795 | -26.5% |
| Taxes | 450/3 | €10,553 | €7,758 | -€2,795 | -26.5% |
| Other amounts payable | 47/48 | €274,305 | €440,299 | +€165,993 | +60.5% |
| Accrued charges and deferred income | 492/3 | €67,139 | €43,834 | -€23,305 | -34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,323 | €59,963 | -€361 | -0.6% |
| Other operating charges | 640/8 | €25,605 | €25,282 | -€323 | -1.3% |
| Gross operating margin | 9900 | €279,216 | €264,414 | -€14,802 | -5.3% |
| Operating profit (loss) | 9901 | €193,287 | €179,170 | -€14,117 | -7.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €82,265 | €62,180 | -€20,085 | -24.4% |
| Recurring financial charges | 65 | €82,265 | €62,180 | -€20,085 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €111,022 | €116,990 | +€5,968 | +5.4% |
| Income taxes | 67/77 | €35,553 | €37,480 | +€1,927 | +5.4% |
| Profit (loss) for the period | 9904 | €75,469 | €79,510 | +€4,041 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €75,469 | €79,510 | +€4,041 | +5.4% |
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 11 October 2026 via checked.be.