WDK: 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.
What changed
WDK
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€44,541
2025 · -€875,292+€919,833
Equity
-€1.1m
2025 · -€1.2m+€44,541
Cash
€101,124
2025 · €20,330+€80,794
Balance sheet total
€5.3m
2025 · €5.9m-€595,448
Largest movements
Assets
- Receivables after one year -€392,000
down €392,000 (-100.0%), from €392,000 to €0
- Tangible fixed assets -€248,856
down €248,856 (-4.6%), from €5.4m to €5.1m
- Cash +€80,794
up €80,794 (+397.4%), from €20,330 to €101,124
mainly Receivables after one year (+€392,000) and Current portion of long-term debt (+€365,006)
Equity and liabilities
- Debts after one year -€994,451
down €994,451 (-14.1%), from €7.0m to €6.1m
- Current portion of long-term debt +€365,006
new in 2026: €365,006
Income statement
- Gross operating margin +€165,835
up €165,835 (+48.7%), from €340,317 to €506,153
- Financial charges -€118,406
down €118,406 (-40.8%), from €290,478 to €172,072
From the 2025 result to the 2026 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.
Result 2025
-€875,292
Gross operating margin
+€165,835
Depreciation
+€0
Other operating charges
-€1,173
Other operating items
+€640,000
Financial income
-€3,235
Financial charges
+€118,406
Result 2026
€44,541
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€710,238
Investment
€0
Financing
-€629,445
Cash 2025
€20,330
From operations (derived)
+€710,238
Net result for the year
+€44,541
Depreciation
+€248,856
Receivables after one year
+€392,000
Smaller working-capital items
-€1,205
Receivables within one year
+€35,925
Trade debts
-€5,684
Tax, wage and social debts
+€11,915
Advances received
-€7,860
Other debts
-€8,250
Financing
-€629,445
Debts after one year
-€994,451
Current portion of long-term debt
+€365,006
Cash 2026
€101,124
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,884,421 | €5,288,973 | -€595,448 | -10.1% |
| Fixed assets | 21/28 | €5,397,508 | €5,148,652 | -€248,856 | -4.6% |
| Tangible fixed assets | 22/27 | €5,397,508 | €5,148,652 | -€248,856 | -4.6% |
| Land and buildings | 22 | €5,397,508 | €5,148,652 | -€248,856 | -4.6% |
| Current assets | 29/58 | €486,913 | €140,321 | -€346,592 | -71.2% |
| Amounts receivable after more than one year | 29 | €392,000 | €0 | -€392,000 | -100.0% |
| Other amounts receivable | 291 | €392,000 | €0 | -€392,000 | -100.0% |
| Stocks and contracts in progress | 3 | €15,045 | €15,516 | +€471 | +3.1% |
| Stocks | 30/36 | €15,045 | €15,516 | +€471 | +3.1% |
| Amounts receivable within one year | 40/41 | €57,269 | €21,344 | -€35,925 | -62.7% |
| Trade receivables | 40 | €47,169 | €21,344 | -€25,825 | -54.8% |
| Other amounts receivable | 41 | €10,100 | €0 | -€10,100 | -100.0% |
| Cash at bank and in hand | 54/58 | €20,330 | €101,124 | +€80,794 | +397.4% |
| Deferred charges and accrued income | 490/1 | €2,269 | €2,337 | +€69 | +3.0% |
| Total equity and liabilities | 10/49 | €5,884,421 | €5,288,973 | -€595,448 | -10.1% |
| Equity | 10/15 | -€1,190,486 | -€1,145,946 | +€44,541 | +3.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,200,486 | -€1,155,946 | +€44,541 | +3.7% |
| Amounts payable | 17/49 | €7,074,908 | €6,434,919 | -€639,989 | -9.0% |
| Amounts payable after more than one year | 17 | €7,048,753 | €6,054,303 | -€994,451 | -14.1% |
| Financial debts | 170/4 | €7,048,753 | €6,054,303 | -€994,451 | -14.1% |
| Amounts payable within one year | 42/48 | €25,490 | €380,616 | +€355,126 | +1393.2% |
| Current portion of amounts payable after more than one year | 42 | - | €365,006 | +€365,006 | |
| Trade debts | 44 | €7,251 | €1,566 | -€5,684 | -78.4% |
| Suppliers | 440/4 | €7,251 | €1,566 | -€5,684 | -78.4% |
| Advances received on contracts in progress | 46 | €9,825 | €1,965 | -€7,860 | -80.0% |
| Taxes, remuneration and social security | 45 | €164 | €12,079 | +€11,915 | +7263.7% |
| Taxes | 450/3 | €164 | €12,079 | +€11,915 | +7263.7% |
| Other amounts payable | 47/48 | €8,250 | €0 | -€8,250 | -100.0% |
| Accrued charges and deferred income | 492/3 | €665 | €0 | -€665 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €248,856 | €248,856 | -€0 | 0.0% |
| Other operating charges | 640/8 | €39,621 | €40,795 | +€1,173 | +3.0% |
| Non-recurring operating charges | 66A | €640,000 | - | -€640,000 | |
| Gross operating margin | 9900 | €340,317 | €506,153 | +€165,835 | +48.7% |
| Operating profit (loss) | 9901 | -€588,160 | €216,502 | +€804,662 | |
| Financial income | 75/76B | €3,346 | €110 | -€3,235 | -96.7% |
| Recurring financial income | 75 | €3,346 | €110 | -€3,235 | -96.7% |
| Financial charges | 65/66B | €290,478 | €172,072 | -€118,406 | -40.8% |
| Recurring financial charges | 65 | €290,478 | €172,072 | -€118,406 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | -€875,292 | €44,541 | +€919,833 | |
| Profit (loss) for the period | 9904 | -€875,292 | €44,541 | +€919,833 | |
| Profit (loss) for the period to be appropriated | 9905 | -€875,292 | €44,541 | +€919,833 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.