WERDI: 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.
WERDI
Largest movements
- Stocks and contracts -€1.6m
down €1.6m (-29.5%), from €5.3m to €3.8m
- Receivables within one year +€799,605
up €799,605 (+61.9%), from €1.3m to €2.1m
- Tangible fixed assets +€241,505
up €241,505 (+416.5%), from €57,988 to €299,493
of which Land and buildings: +€257,287
- Short-term financial debts -€875,000
no longer reported in 2024 (was €875,000)
- Other debts +€509,926
up €509,926 (+8.9%), from €5.7m to €6.2m
- Trade debts -€81,764
down €81,764 (-78.5%), from €104,165 to €22,401
- Gross operating margin -€404,698
down €404,698 (-75.9%), from €533,398 to €128,700
- Financial income -€233,019
down €233,019 (-100.0%), from €233,019 to €0
- Financial charges -€45,558
down €45,558 (-44.4%), from €102,599 to €57,042
- Staff costs +€16,004
up €16,004 (+17.1%), from €93,536 to €109,540
- Depreciation +€8,696
up €8,696 (+60.6%), from €14,350 to €23,046
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,701,668 | €6,172,973 | -€528,695 | -7.9% |
| Fixed assets | 21/28 | €58,006 | €299,511 | +€241,505 | +416.3% |
| Tangible fixed assets | 22/27 | €57,988 | €299,493 | +€241,505 | +416.5% |
| Land and buildings | 22 | - | €257,287 | +€257,287 | |
| Plant, machinery and equipment | 23 | €6,935 | €6,206 | -€730 | -10.5% |
| Furniture and vehicles | 24 | €51,052 | €36,000 | -€15,052 | -29.5% |
| Financial fixed assets | 28 | €18 | €18 | = | 0.0% |
| Current assets | 29/58 | €6,643,663 | €5,873,462 | -€770,201 | -11.6% |
| Stocks and contracts in progress | 3 | €5,329,187 | €3,756,159 | -€1.6m | -29.5% |
| Stocks | 30/36 | €5,329,187 | €3,756,159 | -€1.6m | -29.5% |
| Amounts receivable within one year | 40/41 | €1,291,913 | €2,091,518 | +€799,605 | +61.9% |
| Trade receivables | 40 | €1,291,913 | €2,091,518 | +€799,605 | +61.9% |
| Cash at bank and in hand | 54/58 | €19,872 | €22,683 | +€2,811 | +14.1% |
| Deferred charges and accrued income | 490/1 | €2,691 | €3,103 | +€411 | +15.3% |
| Total equity and liabilities | 10/49 | €6,701,668 | €6,172,973 | -€528,695 | -7.9% |
| Equity | 10/15 | -€453,543 | -€516,413 | -€62,870 | -13.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€503,543 | -€566,413 | -€62,870 | -12.5% |
| Amounts payable | 17/49 | €7,155,211 | €6,689,386 | -€465,825 | -6.5% |
| Amounts payable after more than one year | 17 | €375,000 | €375,000 | = | 0.0% |
| Financial debts | 170/4 | €375,000 | €375,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,767,121 | €6,284,389 | -€482,731 | -7.1% |
| Financial debts | 43 | €875,000 | - | -€875,000 | |
| Credit institutions | 430/8 | €875,000 | - | -€875,000 | |
| Trade debts | 44 | €104,165 | €22,401 | -€81,764 | -78.5% |
| Suppliers | 440/4 | €104,165 | €22,401 | -€81,764 | -78.5% |
| Taxes, remuneration and social security | 45 | €57,542 | €21,649 | -€35,893 | -62.4% |
| Taxes | 450/3 | €57,542 | €8,462 | -€49,080 | -85.3% |
| Remuneration and social security | 454/9 | - | €13,187 | +€13,187 | |
| Other amounts payable | 47/48 | €5,730,413 | €6,240,339 | +€509,926 | +8.9% |
| Accrued charges and deferred income | 492/3 | €13,090 | €29,997 | +€16,906 | +129.2% |
| Remuneration, social security and pensions | 62 | €93,536 | €109,540 | +€16,004 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,350 | €23,046 | +€8,696 | +60.6% |
| Other operating charges | 640/8 | €1,535 | €1,171 | -€364 | -23.7% |
| Non-recurring operating charges | 66A | €3,004 | - | -€3,004 | |
| Gross operating margin | 9900 | €533,398 | €128,700 | -€404,698 | -75.9% |
| Operating profit (loss) | 9901 | €420,973 | -€5,057 | -€426,030 | |
| Financial income | 75/76B | €233,019 | €0 | -€233,019 | -100.0% |
| Recurring financial income | 75 | €233,019 | €0 | -€233,019 | -100.0% |
| Financial charges | 65/66B | €102,599 | €57,042 | -€45,558 | -44.4% |
| Recurring financial charges | 65 | €102,599 | €57,042 | -€45,558 | -44.4% |
| Profit (loss) for the period before taxes | 9903 | €551,393 | -€62,098 | -€613,491 | |
| Income taxes | 67/77 | €384 | €772 | +€388 | +101.1% |
| Profit (loss) for the period | 9904 | €551,009 | -€62,870 | -€613,879 | |
| Profit (loss) for the period to be appropriated | 9905 | €551,009 | -€62,870 | -€613,879 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.