WDV: 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.
WDV
Largest movements
- Tangible fixed assets -€179,136
down €179,136 (-4.5%), from €4.0m to €3.8m
of which Land and buildings: -€169,729
- Debts after one year -€285,000
down €285,000 (-24.1%), from €1.2m to €900,000
- Other debts +€126,993
up €126,993 (+8.3%), from €1.5m to €1.7m
- Short-term financial debts -€75,000
down €75,000 (-100%), from €75,000 to €0
- Profit (loss) carried forward +€55,526
up €55,526 (+20.3%), from -€272,859 to -€217,333
- Gross operating margin +€65,328
up €65,328 (+15.9%), from €410,224 to €475,552
- Other operating charges -€43,478
down €43,478 (-48.8%), from €89,083 to €45,606
- Financial charges -€18,786
down €18,786 (-11.5%), from €162,739 to €143,953
- Taxes -€12,465
down €12,465 (-98.0%), from €12,718 to €253
- Staff costs +€7,317
up €7,317 (+90.0%), from €8,126 to €15,443
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 | €3,994,272 | €3,819,043 | -€175,229 | -4.4% |
| Fixed assets | 21/28 | €3,980,277 | €3,802,156 | -€178,122 | -4.5% |
| Intangible fixed assets | 21 | - | €1,014 | +€1,014 | |
| Tangible fixed assets | 22/27 | €3,980,277 | €3,801,141 | -€179,136 | -4.5% |
| Land and buildings | 22 | €3,756,440 | €3,586,711 | -€169,729 | -4.5% |
| Plant, machinery and equipment | 23 | €61,748 | €185,111 | +€123,364 | +200% |
| Furniture and vehicles | 24 | €21,724 | €20,373 | -€1,351 | -6.2% |
| Assets under construction and advance payments | 27 | €140,366 | €8,946 | -€131,420 | -93.6% |
| Current assets | 29/58 | €13,995 | €16,887 | +€2,892 | +20.7% |
| Amounts receivable within one year | 40/41 | €376 | €130 | -€246 | -65.5% |
| Trade receivables | 40 | €376 | €130 | -€246 | -65.5% |
| Cash at bank and in hand | 54/58 | €7,621 | €13,223 | +€5,601 | +73.5% |
| Deferred charges and accrued income | 490/1 | €5,997 | €3,535 | -€2,463 | -41.1% |
| Total equity and liabilities | 10/49 | €3,994,272 | €3,819,043 | -€175,229 | -4.4% |
| Equity | 10/15 | €883,874 | €939,400 | +€55,526 | +6.3% |
| Contributions | 10/11 | €1,003,501 | €1,003,501 | = | 0.0% |
| Capital | 10 | €1,003,501 | €1,003,501 | = | 0.0% |
| Issued capital | 100 | €1,003,501 | €1,003,501 | = | 0.0% |
| Revaluation surpluses | 12 | €153,232 | €153,232 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€272,859 | -€217,333 | +€55,526 | +20.3% |
| Amounts payable | 17/49 | €3,110,398 | €2,879,643 | -€230,756 | -7.4% |
| Amounts payable after more than one year | 17 | €1,185,000 | €900,000 | -€285,000 | -24.1% |
| Financial debts | 170/4 | €1,185,000 | €900,000 | -€285,000 | -24.1% |
| Amounts payable within one year | 42/48 | €1,914,658 | €1,960,343 | +€45,685 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €289,499 | €285,000 | -€4,499 | -1.6% |
| Financial debts | 43 | €75,000 | €0 | -€75,000 | -100% |
| Credit institutions | 430/8 | €75,000 | €0 | -€75,000 | -100% |
| Trade debts | 44 | €13,566 | €11,715 | -€1,851 | -13.6% |
| Suppliers | 440/4 | €13,566 | €11,715 | -€1,851 | -13.6% |
| Taxes, remuneration and social security | 45 | €211 | €253 | +€42 | +19.8% |
| Taxes | 450/3 | €211 | €253 | +€42 | +19.8% |
| Other amounts payable | 47/48 | €1,536,382 | €1,663,375 | +€126,993 | +8.3% |
| Accrued charges and deferred income | 492/3 | €10,740 | €19,300 | +€8,560 | +79.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €8,126 | €15,443 | +€7,317 | +90.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213,607 | €214,784 | +€1,177 | +0.6% |
| Other operating charges | 640/8 | €89,083 | €45,606 | -€43,478 | -48.8% |
| Gross operating margin | 9900 | €410,224 | €475,552 | +€65,328 | +15.9% |
| Operating profit (loss) | 9901 | €99,407 | €199,719 | +€100,312 | +101% |
| Financial income | 75/76B | €35 | €13 | -€22 | -63.9% |
| Recurring financial income | 75 | €35 | €13 | -€22 | -63.9% |
| Financial charges | 65/66B | €162,739 | €143,953 | -€18,786 | -11.5% |
| Recurring financial charges | 65 | €162,739 | €143,953 | -€18,786 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | -€63,297 | €55,779 | +€119,076 | |
| Income taxes | 67/77 | €12,718 | €253 | -€12,465 | -98.0% |
| Profit (loss) for the period | 9904 | -€76,015 | €55,526 | +€131,541 | |
| Profit (loss) for the period to be appropriated | 9905 | -€76,015 | €55,526 | +€131,541 |
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.