WENA4: 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.
WENA4
Largest movements
- Current investments +€394,881
new in 2025: €394,881
- Financial fixed assets -€167,509
down €167,509 (-14.9%), from €1.1m to €953,907
- Receivables after one year -€139,437
down €139,437 (-56.3%), from €247,883 to €108,447
- Deferred charges and accrued income -€33,530
down €33,530 (-96.1%), from €34,887 to €1,357
- Cash +€27,212
up €27,212 (+20.6%), from €132,014 to €159,226
mainly Investment in fixed assets (net) (+€167,509) and Receivables after one year (+€139,437)
- Profit (loss) carried forward +€79,176
up €79,176 (+73.1%), from -€108,373 to -€29,197
- Financial charges +€168,346
up €168,346 (+239%), from €70,548 to €238,895
of which Non-recurring financial charges: +€126,224
- Financial income +€151,904
up €151,904 (+282%), from €53,822 to €205,725
of which Financial income: +€174,362
- Gross operating margin +€120,349
up €120,349, from -€1,976 to €118,373
- Depreciation +€4,424
up €4,424 (+732%), from €605 to €5,029
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 | €1,575,190 | €1,655,608 | +€80,418 | +5.1% |
| Fixed assets | 21/28 | €1,135,900 | €963,362 | -€172,538 | -15.2% |
| Tangible fixed assets | 22/27 | €14,484 | €9,455 | -€5,029 | -34.7% |
| Plant, machinery and equipment | 23 | €14,484 | €9,455 | -€5,029 | -34.7% |
| Financial fixed assets | 28 | €1,121,416 | €953,907 | -€167,509 | -14.9% |
| Current assets | 29/58 | €439,290 | €692,246 | +€252,956 | +57.6% |
| Amounts receivable after more than one year | 29 | €247,883 | €108,447 | -€139,437 | -56.3% |
| Other amounts receivable | 291 | €247,883 | €108,447 | -€139,437 | -56.3% |
| Amounts receivable within one year | 40/41 | €24,506 | €28,336 | +€3,830 | +15.6% |
| Trade receivables | 40 | €726 | €726 | = | 0.0% |
| Other amounts receivable | 41 | €23,780 | €27,610 | +€3,830 | +16.1% |
| Current investments | 50/53 | - | €394,881 | +€394,881 | |
| Cash at bank and in hand | 54/58 | €132,014 | €159,226 | +€27,212 | +20.6% |
| Deferred charges and accrued income | 490/1 | €34,887 | €1,357 | -€33,530 | -96.1% |
| Total equity and liabilities | 10/49 | €1,575,190 | €1,655,608 | +€80,418 | +5.1% |
| Equity | 10/15 | €1,575,109 | €1,654,285 | +€79,176 | +5.0% |
| Contributions | 10/11 | €1,683,482 | €1,683,482 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,373 | -€29,197 | +€79,176 | +73.1% |
| Amounts payable | 17/49 | €82 | €1,323 | +€1,241 | +1,518% |
| Amounts payable within one year | 42/48 | €56 | €1,278 | +€1,222 | +2,179% |
| Financial debts | 43 | - | €3 | +€3 | |
| Credit institutions | 430/8 | - | €3 | +€3 | |
| Trade debts | 44 | €56 | - | -€56 | |
| Suppliers | 440/4 | €56 | - | -€56 | |
| Taxes, remuneration and social security | 45 | - | €1,219 | +€1,219 | |
| Taxes | 450/3 | - | €1,219 | +€1,219 | |
| Other amounts payable | 47/48 | - | €56 | +€56 | |
| Accrued charges and deferred income | 492/3 | €26 | €45 | +€19 | +75.7% |
| Non-recurring operating income | 76A | - | €111,591 | +€111,591 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €605 | €5,029 | +€4,424 | +732% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€1,976 | €118,373 | +€120,349 | |
| Operating profit (loss) | 9901 | -€3,548 | €112,346 | +€115,894 | |
| Financial income | 75/76B | €53,822 | €205,725 | +€151,904 | +282% |
| Recurring financial income | 75 | €31,364 | €205,725 | +€174,362 | +556% |
| Non-recurring financial income | 76B | €22,458 | - | -€22,458 | |
| Financial charges | 65/66B | €70,548 | €238,895 | +€168,346 | +239% |
| Recurring financial charges | 65 | €4,036 | €46,158 | +€42,123 | +1,044% |
| Non-recurring financial charges | 66B | €66,512 | €192,736 | +€126,224 | +190% |
| Profit (loss) for the period before taxes | 9903 | -€20,275 | €79,176 | +€99,451 | |
| Profit (loss) for the period | 9904 | -€20,275 | €79,176 | +€99,451 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,275 | €79,176 | +€99,451 |
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 13 October 2026 via checked.be.