WDMS: what changed
What changed
WDMS
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€277,617
2024 · €98,259+€179,358
Equity
€851,969
2024 · €595,422+€256,547
Cash
€162,922
2024 · €189,976-€27,054
Balance sheet total
€1.6m
2024 · €1.0m+€601,993
Largest movements
Assets
- Financial fixed assets +€650,012
up €650,012 (+81.2%), from €800,411 to €1.5m
- Cash -€27,054
down €27,054 (-14.2%), from €189,976 to €162,922
mainly Investment in fixed assets (net) (-€650,012) and Contributions, distributions and other (-€21,070)
- Receivables within one year -€26,151
down €26,151 (-100%), from €26,151 to €0
Equity and liabilities
- Debts after one year +€284,998
up €284,998 (+84.1%), from €338,863 to €623,861
of which Financial debts: +€274,653
- Reserves +€256,547
up €256,547 (+59.1%), from €433,977 to €690,524
- Current portion of long-term debt +€29,552
up €29,552 (+56.3%), from €52,462 to €82,013
- Tax, wage and social debts +€17,056
up €17,056 (+86.6%), from €19,699 to €36,755
of which Taxes: +€17,056
Income statement
- Financial income +€200,000
up €200,000, from €0 to €200,000
of which Financial income: +€200,000
- Taxes +€17,018
up €17,018 (+36.3%), from €46,931 to €63,949
- Financial charges +€5,096
up €5,096 (+27.5%), from €18,526 to €23,622
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€98,259
Gross operating margin
+€1,484
Other operating charges
-€13
Financial income
+€200,000
Financial charges
-€5,096
Taxes
-€17,018
Result 2025
€277,617
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€323,017
Investment
-€657,012
Financing
+€306,941
Cash 2024
€189,976
From operations (derived)
+€323,017
Net result for the year
+€277,617
Depreciation
+€2,094
Receivables within one year
+€26,151
Smaller working-capital items
+€98
Tax, wage and social debts
+€17,056
Investment (derived)
-€657,012
Investment in fixed assets (net)
-€650,012
Current investments
-€7,000
Financing
+€306,941
Debts after one year
+€284,998
Current portion of long-term debt
+€29,552
Short-term financial debts
+€13,461
Contributions, distributions and other
-€21,070
Cash 2025
€162,922
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,024,117 | €1,626,110 | +€601,993 | +58.8% |
| Fixed assets | 21/28 | €804,572 | €1,452,489 | +€647,918 | +80.5% |
| Tangible fixed assets | 22/27 | €4,161 | €2,066 | -€2,094 | -50.3% |
| Furniture and vehicles | 24 | €4,161 | €2,066 | -€2,094 | -50.3% |
| Financial fixed assets | 28 | €800,411 | €1,450,423 | +€650,012 | +81.2% |
| Current assets | 29/58 | €219,545 | €173,621 | -€45,924 | -20.9% |
| Amounts receivable within one year | 40/41 | €26,151 | €0 | -€26,151 | -100% |
| Trade receivables | 40 | €26,151 | €0 | -€26,151 | -100% |
| Current investments | 50/53 | - | €7,000 | +€7,000 | |
| Cash at bank and in hand | 54/58 | €189,976 | €162,922 | -€27,054 | -14.2% |
| Deferred charges and accrued income | 490/1 | €3,418 | €3,700 | +€282 | +8.2% |
| Total equity and liabilities | 10/49 | €1,024,117 | €1,626,110 | +€601,993 | +58.8% |
| Equity | 10/15 | €595,422 | €851,969 | +€256,547 | +43.1% |
| Contributions | 10/11 | €161,445 | €161,445 | = | 0.0% |
| Reserves | 13 | €433,977 | €690,524 | +€256,547 | +59.1% |
| Distributable reserves | 133 | €433,977 | €690,524 | +€256,547 | +59.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €428,695 | €774,141 | +€345,446 | +80.6% |
| Amounts payable after more than one year | 17 | €338,863 | €623,861 | +€284,998 | +84.1% |
| Financial debts | 170/4 | €22,014 | €296,667 | +€274,653 | +1,248% |
| Other amounts payable | 178/9 | €316,849 | €327,194 | +€10,344 | +3.3% |
| Amounts payable within one year | 42/48 | €75,054 | €135,438 | +€60,384 | +80.5% |
| Current portion of amounts payable after more than one year | 42 | €52,462 | €82,013 | +€29,552 | +56.3% |
| Financial debts | 43 | - | €13,461 | +€13,461 | |
| Credit institutions | 430/8 | - | €13,461 | +€13,461 | |
| Trade debts | 44 | €732 | €1,047 | +€315 | +43.1% |
| Suppliers | 440/4 | €732 | €1,047 | +€315 | +43.1% |
| Taxes, remuneration and social security | 45 | €19,699 | €36,755 | +€17,056 | +86.6% |
| Taxes | 450/3 | €19,699 | €36,755 | +€17,056 | +86.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,161 | €2,161 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €14,778 | €14,842 | +€65 | +0.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,094 | €2,094 | = | 0.0% |
| Other operating charges | 640/8 | €384 | €397 | +€13 | +3.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €166,195 | €167,679 | +€1,484 | +0.9% |
| Operating profit (loss) | 9901 | €163,716 | €165,188 | +€1,472 | +0.9% |
| Financial income | 75/76B | €0 | €200,000 | +€200,000 | |
| Recurring financial income | 75 | €0 | €200,000 | +€200,000 | |
| Non-recurring financial income | 76B | - | €200,000 | +€200,000 | |
| Financial charges | 65/66B | €18,526 | €23,622 | +€5,096 | +27.5% |
| Recurring financial charges | 65 | €18,526 | €23,622 | +€5,096 | +27.5% |
| Profit (loss) for the period before taxes | 9903 | €145,190 | €341,566 | +€196,376 | +135% |
| Income taxes | 67/77 | €46,931 | €63,949 | +€17,018 | +36.3% |
| Profit (loss) for the period | 9904 | €98,259 | €277,617 | +€179,358 | +183% |
| Profit (loss) for the period to be appropriated | 9905 | €98,259 | €277,617 | +€179,358 | +183% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.