WERNER José: 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.
WERNER José
Largest movements
- Receivables within one year +€28,407
up €28,407 (+6.4%), from €443,531 to €471,938
of which Other amounts receivable: +€56,855
- Tangible fixed assets -€10,493
down €10,493 (-29.1%), from €36,065 to €25,573
of which Plant, machinery and equipment: -€7,648
- Trade debts +€32,544
up €32,544 (+53.1%), from €61,285 to €93,829
- Current portion of long-term debt -€5,786
down €5,786 (-87.0%), from €6,650 to €864
- Gross operating margin -€20,191
down €20,191 (-55.8%), from €36,213 to €16,021
- Other operating charges -€10,059
down €10,059 (-73.8%), from €13,625 to €3,565
- Taxes -€2,227
down €2,227 (-89.7%), from €2,482 to €255
- Financial income -€1,860
down €1,860 (-99.7%), from €1,865 to €5
- Financial charges -€419
down €419 (-9.6%), from €4,378 to €3,959
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 | €484,561 | €502,068 | +€17,507 | +3.6% |
| Fixed assets | 21/28 | €36,065 | €25,573 | -€10,493 | -29.1% |
| Tangible fixed assets | 22/27 | €36,065 | €25,573 | -€10,493 | -29.1% |
| Land and buildings | 22 | €7,558 | €6,552 | -€1,006 | -13.3% |
| Plant, machinery and equipment | 23 | €21,653 | €14,005 | -€7,648 | -35.3% |
| Furniture and vehicles | 24 | €1,329 | €898 | -€431 | -32.5% |
| Other tangible fixed assets | 26 | €5,526 | €4,118 | -€1,408 | -25.5% |
| Current assets | 29/58 | €448,496 | €476,495 | +€27,999 | +6.2% |
| Stocks and contracts in progress | 3 | €788 | - | -€788 | |
| Stocks | 30/36 | €788 | - | -€788 | |
| Amounts receivable within one year | 40/41 | €443,531 | €471,938 | +€28,407 | +6.4% |
| Trade receivables | 40 | €56,072 | €27,624 | -€28,448 | -50.7% |
| Other amounts receivable | 41 | €387,459 | €444,314 | +€56,855 | +14.7% |
| Cash at bank and in hand | 54/58 | €748 | €1,187 | +€439 | +58.7% |
| Deferred charges and accrued income | 490/1 | €3,429 | €3,370 | -€59 | -1.7% |
| Total equity and liabilities | 10/49 | €484,561 | €502,068 | +€17,507 | +3.6% |
| Equity | 10/15 | €379,088 | €376,476 | -€2,612 | -0.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | - | -€18,592 | |
| Issued capital | 100 | €18,592 | - | -€18,592 | |
| Outside capital | 11 | - | €18,592 | +€18,592 | |
| Other | 1109/19 | - | €18,592 | +€18,592 | |
| Reserves | 13 | €93,418 | €93,418 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,155 | - | -€11,155 | |
| Legal reserve | 130 | €11,155 | - | -€11,155 | |
| Tax-exempt reserves | 132 | €15,404 | €15,404 | = | 0.0% |
| Distributable reserves | 133 | €66,859 | €78,014 | +€11,155 | +16.7% |
| Profit (loss) carried forward | 14 | €267,078 | €264,466 | -€2,612 | -1.0% |
| Amounts payable | 17/49 | €105,473 | €125,592 | +€20,119 | +19.1% |
| Amounts payable after more than one year | 17 | €864 | - | -€864 | |
| Financial debts | 170/4 | €864 | - | -€864 | |
| Amounts payable within one year | 42/48 | €103,823 | €124,132 | +€20,308 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €6,650 | €864 | -€5,786 | -87.0% |
| Financial debts | 43 | €15,693 | €17,217 | +€1,524 | +9.7% |
| Credit institutions | 430/8 | €15,693 | €17,217 | +€1,524 | +9.7% |
| Trade debts | 44 | €61,285 | €93,829 | +€32,544 | +53.1% |
| Suppliers | 440/4 | €61,285 | €93,829 | +€32,544 | +53.1% |
| Advances received on contracts in progress | 46 | €6,356 | €3,300 | -€3,056 | -48.1% |
| Taxes, remuneration and social security | 45 | €13,839 | €8,922 | -€4,917 | -35.5% |
| Taxes | 450/3 | €13,839 | €8,922 | -€4,917 | -35.5% |
| Accrued charges and deferred income | 492/3 | €786 | €1,460 | +€674 | +85.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,058 | €10,859 | -€199 | -1.8% |
| Other operating charges | 640/8 | €13,625 | €3,565 | -€10,059 | -73.8% |
| Gross operating margin | 9900 | €36,213 | €16,021 | -€20,191 | -55.8% |
| Operating profit (loss) | 9901 | €11,530 | €1,597 | -€9,933 | -86.1% |
| Financial income | 75/76B | €1,865 | €5 | -€1,860 | -99.7% |
| Recurring financial income | 75 | €1,865 | €5 | -€1,860 | -99.7% |
| Financial charges | 65/66B | €4,378 | €3,959 | -€419 | -9.6% |
| Recurring financial charges | 65 | €4,378 | €3,959 | -€419 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €9,016 | -€2,357 | -€11,374 | |
| Income taxes | 67/77 | €2,482 | €255 | -€2,227 | -89.7% |
| Profit (loss) for the period | 9904 | €6,535 | -€2,612 | -€9,147 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,535 | -€2,612 | -€9,147 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.