WENACO: 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.
WENACO
Largest movements
- Tangible fixed assets +€477,997
up €477,997 (+107.1%), from €446,371 to €924,368
of which Land and buildings: +€501,935
- Deferred charges and accrued income +€338,323
up €338,323 (+35.2%), from €962,168 to €1.3m
- Cash -€250,492
down €250,492 (-16.7%), from €1.5m to €1.2m
mainly Investment in fixed assets (net) (-€549,981) and Deferred charges and accrued income (-€338,323)
- Current investments +€179,645
up €179,645 (+28.6%), from €628,708 to €808,352
- Debts after one year +€346,667
new in 2025: €346,667
- Reserves +€329,551
up €329,551 (+3.8%), from €8.7m to €9.0m
of which Distributable reserves: +€329,551
- Taxes +€64,850
up €64,850 (+46.4%), from €139,913 to €204,764
- Financial income -€45,403
down €45,403 (-11.5%), from €394,153 to €348,750
- Gross operating margin +€39,299
up €39,299 (+17.4%), from €226,149 to €265,448
- Depreciation +€18,124
up €18,124 (+76.0%), from €23,861 to €41,985
- Other operating charges +€11,547
up €11,547 (+513.3%), from €2,250 to €13,796
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.
Cash bridge derived
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 | €8,917,231 | €9,686,130 | +€768,899 | +8.6% |
| Fixed assets | 21/28 | €5,624,070 | €6,132,067 | +€507,997 | +9.0% |
| Tangible fixed assets | 22/27 | €446,371 | €924,368 | +€477,997 | +107.1% |
| Land and buildings | 22 | €360,063 | €861,998 | +€501,935 | +139.4% |
| Plant, machinery and equipment | 23 | €3,000 | €2,078 | -€922 | -30.7% |
| Furniture and vehicles | 24 | €83,308 | €60,292 | -€23,016 | -27.6% |
| Financial fixed assets | 28 | €5,177,699 | €5,207,699 | +€30,000 | +0.6% |
| Current assets | 29/58 | €3,293,161 | €3,554,063 | +€260,902 | +7.9% |
| Amounts receivable after more than one year | 29 | €164,324 | €149,324 | -€15,000 | -9.1% |
| Other amounts receivable | 291 | €164,324 | €149,324 | -€15,000 | -9.1% |
| Amounts receivable within one year | 40/41 | €38,233 | €46,659 | +€8,426 | +22.0% |
| Trade receivables | 40 | €38,233 | €46,659 | +€8,426 | +22.0% |
| Current investments | 50/53 | €628,708 | €808,352 | +€179,645 | +28.6% |
| Cash at bank and in hand | 54/58 | €1,499,728 | €1,249,236 | -€250,492 | -16.7% |
| Deferred charges and accrued income | 490/1 | €962,168 | €1,300,491 | +€338,323 | +35.2% |
| Total equity and liabilities | 10/49 | €8,917,231 | €9,686,130 | +€768,899 | +8.6% |
| Equity | 10/15 | €8,855,815 | €9,185,367 | +€329,551 | +3.7% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €8,655,815 | €8,985,367 | +€329,551 | +3.8% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €8,605,815 | €8,935,367 | +€329,551 | +3.8% |
| Amounts payable | 17/49 | €61,416 | €500,763 | +€439,348 | +715.4% |
| Amounts payable after more than one year | 17 | - | €346,667 | +€346,667 | |
| Financial debts | 170/4 | - | €346,667 | +€346,667 | |
| Amounts payable within one year | 42/48 | €61,416 | €154,097 | +€92,681 | +150.9% |
| Current portion of amounts payable after more than one year | 42 | - | €40,000 | +€40,000 | |
| Trade debts | 44 | €8,520 | €8,368 | -€152 | -1.8% |
| Suppliers | 440/4 | €8,520 | €8,368 | -€152 | -1.8% |
| Taxes, remuneration and social security | 45 | €52,707 | €87,778 | +€35,070 | +66.5% |
| Taxes | 450/3 | €52,707 | €87,778 | +€35,070 | +66.5% |
| Other amounts payable | 47/48 | €188 | €17,951 | +€17,763 | +9445.9% |
| Non-recurring operating income | 76A | - | €12,645 | +€12,645 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,861 | €41,985 | +€18,124 | +76.0% |
| Other operating charges | 640/8 | €2,250 | €13,796 | +€11,547 | +513.3% |
| Gross operating margin | 9900 | €226,149 | €265,448 | +€39,299 | +17.4% |
| Operating profit (loss) | 9901 | €200,039 | €209,667 | +€9,628 | +4.8% |
| Financial income | 75/76B | €394,153 | €348,750 | -€45,403 | -11.5% |
| Recurring financial income | 75 | €394,153 | €348,750 | -€45,403 | -11.5% |
| Financial charges | 65/66B | €1,083 | €6,190 | +€5,106 | +471.3% |
| Recurring financial charges | 65 | €1,083 | €6,190 | +€5,106 | +471.3% |
| Profit (loss) for the period before taxes | 9903 | €593,109 | €552,228 | -€40,881 | -6.9% |
| Income taxes | 67/77 | €139,913 | €204,764 | +€64,850 | +46.4% |
| Profit (loss) for the period | 9904 | €453,195 | €347,464 | -€105,731 | -23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €453,195 | €347,464 | -€105,731 | -23.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.