WDM: 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.
WDM
Largest movements
- Receivables within one year -€81,521
down €81,521 (-60.8%), from €134,141 to €52,620
of which Trade receivables: -€77,983
- Stocks and contracts +€33,087
up €33,087 (+41.6%), from €79,543 to €112,630
- Tangible fixed assets +€22,027
up €22,027 (+9.6%), from €228,504 to €250,531
of which Furniture and vehicles: +€28,402
- Cash -€7,567
down €7,567 (-6.1%), from €125,068 to €117,501
mainly Advances received (-€79,345) and Investment in fixed assets (net) (-€37,138)
- Advances received -€79,345
down €79,345 (-92.8%), from €85,515 to €6,170
- Reserves +€13,147
up €13,147 (+5.0%), from €261,942 to €275,088
- Tax, wage and social debts +€12,121
up €12,121 (+130%), from €9,341 to €21,461
of which Taxes: +€10,100
- Debts after one year +€9,078
up €9,078 (+7.0%), from €130,480 to €139,558
- Current portion of long-term debt +€6,915
up €6,915 (+52.0%), from €13,302 to €20,217
- Gross operating margin +€33,247
up €33,247 (+41.6%), from €79,891 to €113,138
- Taxes +€15,413
up €15,413 (+372%), from €4,145 to €19,558
- Write-downs -€6,430
down €6,430, from €3,540 to -€2,890
- Depreciation +€5,159
up €5,159 (+51.8%), from €9,951 to €15,110
- Other operating charges -€2,734
down €2,734 (-50.7%), from €5,395 to €2,661
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.
Derived cash bridge
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 | €567,256 | €534,196 | -€33,060 | -5.8% |
| Fixed assets | 21/28 | €228,504 | €250,531 | +€22,027 | +9.6% |
| Tangible fixed assets | 22/27 | €228,504 | €250,531 | +€22,027 | +9.6% |
| Land and buildings | 22 | €210,659 | €205,644 | -€5,015 | -2.4% |
| Plant, machinery and equipment | 23 | €7,112 | €5,753 | -€1,359 | -19.1% |
| Furniture and vehicles | 24 | €10,733 | €39,135 | +€28,402 | +265% |
| Current assets | 29/58 | €338,753 | €283,665 | -€55,088 | -16.3% |
| Stocks and contracts in progress | 3 | €79,543 | €112,630 | +€33,087 | +41.6% |
| Stocks | 30/36 | €79,543 | €112,630 | +€33,087 | +41.6% |
| Amounts receivable within one year | 40/41 | €134,141 | €52,620 | -€81,521 | -60.8% |
| Trade receivables | 40 | €121,836 | €43,853 | -€77,983 | -64.0% |
| Other amounts receivable | 41 | €12,305 | €8,766 | -€3,539 | -28.8% |
| Cash at bank and in hand | 54/58 | €125,068 | €117,501 | -€7,567 | -6.1% |
| Deferred charges and accrued income | 490/1 | - | €914 | +€914 | |
| Total equity and liabilities | 10/49 | €567,256 | €534,196 | -€33,060 | -5.8% |
| Equity | 10/15 | €291,942 | €305,088 | +€13,147 | +4.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €261,942 | €275,088 | +€13,147 | +5.0% |
| Distributable reserves | 133 | €261,942 | €275,088 | +€13,147 | +5.0% |
| Amounts payable | 17/49 | €275,315 | €229,108 | -€46,207 | -16.8% |
| Amounts payable after more than one year | 17 | €130,480 | €139,558 | +€9,078 | +7.0% |
| Financial debts | 170/4 | €130,480 | €139,558 | +€9,078 | +7.0% |
| Amounts payable within one year | 42/48 | €144,835 | €89,550 | -€55,285 | -38.2% |
| Current portion of amounts payable after more than one year | 42 | €13,302 | €20,217 | +€6,915 | +52.0% |
| Trade debts | 44 | €36,677 | €41,701 | +€5,024 | +13.7% |
| Suppliers | 440/4 | €36,677 | €41,701 | +€5,024 | +13.7% |
| Advances received on contracts in progress | 46 | €85,515 | €6,170 | -€79,345 | -92.8% |
| Taxes, remuneration and social security | 45 | €9,341 | €21,461 | +€12,121 | +130% |
| Taxes | 450/3 | €5,315 | €15,415 | +€10,100 | +190% |
| Remuneration and social security | 454/9 | €4,026 | €6,047 | +€2,021 | +50.2% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | €39,538 | €40,955 | +€1,417 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,951 | €15,110 | +€5,159 | +51.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,540 | -€2,890 | -€6,430 | |
| Other operating charges | 640/8 | €5,395 | €2,661 | -€2,734 | -50.7% |
| Gross operating margin | 9900 | €79,891 | €113,138 | +€33,247 | +41.6% |
| Operating profit (loss) | 9901 | €21,468 | €57,302 | +€35,834 | +167% |
| Financial income | 75/76B | €694 | €509 | -€185 | -26.6% |
| Recurring financial income | 75 | €694 | €509 | -€185 | -26.6% |
| Financial charges | 65/66B | €3,323 | €4,007 | +€684 | +20.6% |
| Recurring financial charges | 65 | €3,323 | €4,007 | +€684 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €18,839 | €53,805 | +€34,966 | +186% |
| Income taxes | 67/77 | €4,145 | €19,558 | +€15,413 | +372% |
| Profit (loss) for the period | 9904 | €14,694 | €34,247 | +€19,552 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €14,694 | €34,247 | +€19,552 | +133% |
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 21 October 2026 via checked.be.