Wensel: 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.
Wensel
Largest movements
- Receivables within one year +€86,822
up €86,822 (+118%), from €73,338 to €160,161
- Cash -€41,883
down €41,883 (-84.8%), from €49,388 to €7,506
mainly Receivables within one year (-€86,822) and Trade debts (-€57,952)
- Tangible fixed assets -€37,735
down €37,735 (-3.3%), from €1.1m to €1.1m
of which Land and buildings: -€25,691
- Other debts +€76,971
up €76,971 (+3,530%), from €2,180 to €79,152
- Trade debts -€57,952
down €57,952 (-81.7%), from €70,945 to €12,993
- Debts after one year -€54,502
down €54,502 (-6.2%), from €884,941 to €830,438
- Reserves +€33,432
up €33,432 (+15.5%), from €215,751 to €249,183
of which Distributable reserves: +€33,432
- Gross operating margin -€43,500
down €43,500 (-22.8%), from €190,438 to €146,938
- Staff costs -€12,500
down €12,500 (-29.4%), from €42,500 to €29,999
- Other operating charges -€2,630
down €2,630 (-75.2%), from €3,498 to €868
- Financial charges -€2,015
down €2,015 (-4.9%), from €41,139 to €39,124
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 | €1,262,763 | €1,259,674 | -€3,089 | -0.2% |
| Fixed assets | 21/28 | €1,128,272 | €1,090,537 | -€37,735 | -3.3% |
| Tangible fixed assets | 22/27 | €1,128,272 | €1,090,537 | -€37,735 | -3.3% |
| Land and buildings | 22 | €1,104,780 | €1,079,089 | -€25,691 | -2.3% |
| Plant, machinery and equipment | 23 | €16,261 | €11,448 | -€4,812 | -29.6% |
| Furniture and vehicles | 24 | €7,232 | - | -€7,232 | |
| Current assets | 29/58 | €134,491 | €169,137 | +€34,646 | +25.8% |
| Stocks and contracts in progress | 3 | €5,362 | - | -€5,362 | |
| Stocks | 30/36 | €5,362 | - | -€5,362 | |
| Amounts receivable within one year | 40/41 | €73,338 | €160,161 | +€86,822 | +118% |
| Trade receivables | 40 | €73,338 | €160,161 | +€86,822 | +118% |
| Cash at bank and in hand | 54/58 | €49,388 | €7,506 | -€41,883 | -84.8% |
| Deferred charges and accrued income | 490/1 | €6,402 | €1,471 | -€4,931 | -77.0% |
| Total equity and liabilities | 10/49 | €1,262,763 | €1,259,674 | -€3,089 | -0.2% |
| Equity | 10/15 | €216,751 | €250,183 | +€33,432 | +15.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €215,751 | €249,183 | +€33,432 | +15.5% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €215,651 | €249,083 | +€33,432 | +15.5% |
| Amounts payable | 17/49 | €1,046,013 | €1,009,492 | -€36,521 | -3.5% |
| Amounts payable after more than one year | 17 | €884,941 | €830,438 | -€54,502 | -6.2% |
| Financial debts | 170/4 | €884,941 | €830,438 | -€54,502 | -6.2% |
| Amounts payable within one year | 42/48 | €161,072 | €179,053 | +€17,981 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €52,398 | €54,502 | +€2,104 | +4.0% |
| Trade debts | 44 | €70,945 | €12,993 | -€57,952 | -81.7% |
| Suppliers | 440/4 | €70,945 | €12,993 | -€57,952 | -81.7% |
| Taxes, remuneration and social security | 45 | €35,549 | €32,406 | -€3,142 | -8.8% |
| Taxes | 450/3 | €25,016 | €32,406 | +€7,391 | +29.5% |
| Remuneration and social security | 454/9 | €10,533 | - | -€10,533 | |
| Other amounts payable | 47/48 | €2,180 | €79,152 | +€76,971 | +3,530% |
| Non-recurring operating income | 76A | - | €5,555 | +€5,555 | |
| Remuneration, social security and pensions | 62 | €42,500 | €29,999 | -€12,500 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,022 | €27,490 | -€1,531 | -5.3% |
| Other operating charges | 640/8 | €3,498 | €868 | -€2,630 | -75.2% |
| Gross operating margin | 9900 | €190,438 | €146,938 | -€43,500 | -22.8% |
| Operating profit (loss) | 9901 | €115,419 | €88,581 | -€26,838 | -23.3% |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €41,139 | €39,124 | -€2,015 | -4.9% |
| Recurring financial charges | 65 | €41,139 | €39,124 | -€2,015 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €74,288 | €49,457 | -€24,831 | -33.4% |
| Income taxes | 67/77 | €17,068 | €16,024 | -€1,043 | -6.1% |
| Profit (loss) for the period | 9904 | €57,220 | €33,432 | -€23,788 | -41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €57,220 | €33,432 | -€23,788 | -41.6% |
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 17 October 2026 via checked.be.