WERVAN: 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.
WERVAN
Largest movements
- Tangible fixed assets +€58,856
up €58,856 (+2,348%), from €2,507 to €61,363
- Cash -€51,378
down €51,378 (-43.9%), from €116,918 to €65,540
mainly Other debts (-€1.0m) and Debts after one year (-€144,743)
- Reserves +€1.2m
up €1.2m (+131%), from €917,557 to €2.1m
- Other debts -€1.0m
down €1.0m (-96.2%), from €1.1m to €40,000
- Debts after one year -€144,743
down €144,743 (-14.6%), from €993,538 to €848,796
- Tax, wage and social debts -€138,101
down €138,101 (-68.8%), from €200,711 to €62,610
of which Taxes: -€138,101
- Trade debts +€82,032
up €82,032 (+4,274%), from €1,919 to €83,951
- Financial income +€700,366
up €700,366 (+200%), from €350,075 to €1.1m
- Taxes -€39,823
down €39,823 (-47.3%), from €84,192 to €44,369
- Gross operating margin +€19,976
up €19,976 (+8.5%), from €234,490 to €254,466
- Provisions -€17,550
down €17,550 (-100%), from €17,550 to €0
- Depreciation +€7,560
up €7,560 (+340%), from €2,222 to €9,782
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 | €3,381,606 | €3,376,254 | -€5,352 | -0.2% |
| Fixed assets | 21/28 | €3,098,507 | €3,157,364 | +€58,856 | +1.9% |
| Tangible fixed assets | 22/27 | €2,507 | €61,363 | +€58,856 | +2,348% |
| Furniture and vehicles | 24 | €2,507 | €61,363 | +€58,856 | +2,348% |
| Financial fixed assets | 28 | €3,096,000 | €3,096,000 | = | 0.0% |
| Current assets | 29/58 | €283,099 | €218,891 | -€64,208 | -22.7% |
| Amounts receivable within one year | 40/41 | €130,617 | €134,142 | +€3,525 | +2.7% |
| Trade receivables | 40 | €30,785 | €30,250 | -€535 | -1.7% |
| Other amounts receivable | 41 | €99,832 | €103,892 | +€4,060 | +4.1% |
| Current investments | 50/53 | €35,100 | €17,550 | -€17,550 | -50.0% |
| Cash at bank and in hand | 54/58 | €116,918 | €65,540 | -€51,378 | -43.9% |
| Deferred charges and accrued income | 490/1 | €464 | €1,658 | +€1,195 | +258% |
| Total equity and liabilities | 10/49 | €3,381,606 | €3,376,254 | -€5,352 | -0.2% |
| Equity | 10/15 | €920,557 | €2,121,667 | +€1.2m | +130% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €917,557 | €2,118,667 | +€1.2m | +131% |
| Distributable reserves | 133 | €917,557 | €2,118,667 | +€1.2m | +131% |
| Provisions and deferred taxes | 16 | €35,100 | €17,550 | -€17,550 | -50.0% |
| Provisions for liabilities and charges | 160/5 | €35,100 | €17,550 | -€17,550 | -50.0% |
| Other liabilities and charges | 164/5 | €35,100 | €17,550 | -€17,550 | -50.0% |
| Amounts payable | 17/49 | €2,425,948 | €1,237,037 | -€1.2m | -49.0% |
| Amounts payable after more than one year | 17 | €993,538 | €848,796 | -€144,743 | -14.6% |
| Financial debts | 170/4 | €993,538 | €848,796 | -€144,743 | -14.6% |
| Amounts payable within one year | 42/48 | €1,432,410 | €388,242 | -€1.0m | -72.9% |
| Current portion of amounts payable after more than one year | 42 | €179,780 | €201,680 | +€21,900 | +12.2% |
| Trade debts | 44 | €1,919 | €83,951 | +€82,032 | +4,274% |
| Suppliers | 440/4 | €1,919 | €83,951 | +€82,032 | +4,274% |
| Taxes, remuneration and social security | 45 | €200,711 | €62,610 | -€138,101 | -68.8% |
| Taxes | 450/3 | €198,011 | €59,910 | -€138,101 | -69.7% |
| Remuneration and social security | 454/9 | €2,700 | €2,700 | = | 0.0% |
| Other amounts payable | 47/48 | €1,050,000 | €40,000 | -€1.0m | -96.2% |
| Non-recurring operating income | 76A | - | €17,550 | +€17,550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,222 | €9,782 | +€7,560 | +340% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €17,550 | €0 | -€17,550 | -100% |
| Other operating charges | 640/8 | €767 | €1,170 | +€402 | +52.4% |
| Non-recurring operating charges | 66A | - | €17,550 | +€17,550 | |
| Gross operating margin | 9900 | €234,490 | €254,466 | +€19,976 | +8.5% |
| Operating profit (loss) | 9901 | €213,951 | €225,965 | +€12,014 | +5.6% |
| Financial income | 75/76B | €350,075 | €1,050,441 | +€700,366 | +200% |
| Recurring financial income | 75 | €350,075 | €1,050,441 | +€700,366 | +200% |
| Financial charges | 65/66B | €36,551 | €30,928 | -€5,623 | -15.4% |
| Recurring financial charges | 65 | €36,551 | €30,928 | -€5,623 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €527,475 | €1,245,478 | +€718,003 | +136% |
| Income taxes | 67/77 | €84,192 | €44,369 | -€39,823 | -47.3% |
| Profit (loss) for the period | 9904 | €443,283 | €1,201,109 | +€757,826 | +171% |
| Profit (loss) for the period to be appropriated | 9905 | €443,283 | €1,201,109 | +€757,826 | +171% |
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.