WERDES: 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.
WERDES
Largest movements
- Current investments -€227,497
down €227,497 (-35.0%), from €650,000 to €422,503
- Receivables within one year +€164,059
up €164,059 (+312%), from €52,523 to €216,582
of which Trade receivables: +€164,059
- Cash +€86,445
up €86,445 (+143%), from €60,327 to €146,772
mainly Current investments (+€227,497) and Depreciation (+€46,385)
- Stocks and contracts +€61,609
up €61,609 (+27,803%), from €222 to €61,830
- Tangible fixed assets -€46,385
down €46,385 (-16.8%), from €275,896 to €229,511
of which Land and buildings: -€31,352
- Trade debts +€27,633
up €27,633 (+94.4%), from €29,272 to €56,905
- Reserves +€20,868
up €20,868 (+4.8%), from €433,446 to €454,314
of which Distributable reserves: +€20,868
- Gross operating margin -€191,400
down €191,400 (-70.3%), from €272,186 to €80,786
- Taxes -€60,463
down €60,463 (-85.0%), from €71,163 to €10,700
- Financial income +€3,126
up €3,126 (+197%), from €1,587 to €4,713
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 | €1,038,968 | €1,077,200 | +€38,232 | +3.7% |
| Fixed assets | 21/28 | €275,896 | €229,511 | -€46,385 | -16.8% |
| Tangible fixed assets | 22/27 | €275,896 | €229,511 | -€46,385 | -16.8% |
| Land and buildings | 22 | €246,640 | €215,288 | -€31,352 | -12.7% |
| Plant, machinery and equipment | 23 | €29,256 | €14,224 | -€15,032 | -51.4% |
| Current assets | 29/58 | €763,072 | €847,688 | +€84,617 | +11.1% |
| Stocks and contracts in progress | 3 | €222 | €61,830 | +€61,609 | +27,803% |
| Stocks | 30/36 | €222 | €61,830 | +€61,609 | +27,803% |
| Amounts receivable within one year | 40/41 | €52,523 | €216,582 | +€164,059 | +312% |
| Trade receivables | 40 | €52,523 | €216,582 | +€164,059 | +312% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €650,000 | €422,503 | -€227,497 | -35.0% |
| Cash at bank and in hand | 54/58 | €60,327 | €146,772 | +€86,445 | +143% |
| Total equity and liabilities | 10/49 | €1,038,968 | €1,077,200 | +€38,232 | +3.7% |
| Equity | 10/15 | €452,046 | €472,914 | +€20,868 | +4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €433,446 | €454,314 | +€20,868 | +4.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €433,446 | €454,314 | +€20,868 | +4.8% |
| Amounts payable | 17/49 | €586,922 | €604,286 | +€17,364 | +3.0% |
| Amounts payable after more than one year | 17 | €530,000 | €530,000 | = | 0.0% |
| Financial debts | 170/4 | €530,000 | €530,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €56,922 | €74,286 | +€17,364 | +30.5% |
| Trade debts | 44 | €29,272 | €56,905 | +€27,633 | +94.4% |
| Suppliers | 440/4 | €29,272 | €56,905 | +€27,633 | +94.4% |
| Taxes, remuneration and social security | 45 | €24,463 | €15,167 | -€9,296 | -38.0% |
| Taxes | 450/3 | €24,463 | €15,167 | -€9,296 | -38.0% |
| Other amounts payable | 47/48 | €3,187 | €2,214 | -€973 | -30.5% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,076 | €46,385 | +€2,309 | +5.2% |
| Other operating charges | 640/8 | €8,430 | €7,474 | -€956 | -11.3% |
| Gross operating margin | 9900 | €272,186 | €80,786 | -€191,400 | -70.3% |
| Operating profit (loss) | 9901 | €219,680 | €26,927 | -€192,753 | -87.7% |
| Financial income | 75/76B | €1,587 | €4,713 | +€3,126 | +197% |
| Recurring financial income | 75 | €1,587 | €4,713 | +€3,126 | +197% |
| Financial charges | 65/66B | €61 | €72 | +€11 | +17.6% |
| Recurring financial charges | 65 | €61 | €72 | +€11 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €221,206 | €31,568 | -€189,638 | -85.7% |
| Income taxes | 67/77 | €71,163 | €10,700 | -€60,463 | -85.0% |
| Profit (loss) for the period | 9904 | €150,043 | €20,868 | -€129,175 | -86.1% |
| Profit (loss) for the period to be appropriated | 9905 | €150,043 | €20,868 | -€129,175 | -86.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.