WERVIC: 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.
WERVIC
Largest movements
- Receivables within one year -€83,880
down €83,880 (-29.1%), from €287,948 to €204,068
of which Trade receivables: -€94,316
- Cash -€77,850
down €77,850 (-9.7%), from €805,964 to €728,115
mainly Current portion of long-term debt (-€253,393) and Contributions, distributions and other (-€170,987)
- Intangible fixed assets -€62,744
down €62,744 (-100.0%), from €62,745 to €1
- Deferred charges and accrued income -€54,668
down €54,668 (-86.4%), from €63,252 to €8,584
- Tangible fixed assets -€50,900
down €50,900 (-7.7%), from €657,376 to €606,476
of which Land and buildings: -€36,482
- Current portion of long-term debt -€253,393
down €253,393 (-100%), from €253,393 to €0
- Reserves +€76,331
up €76,331 (+8.0%), from €953,780 to €1.0m
- Trade debts -€66,777
down €66,777 (-24.3%), from €274,342 to €207,565
- Tax, wage and social debts -€38,654
down €38,654 (-50.1%), from €77,077 to €38,423
of which Taxes: -€32,960
- Debts after one year -€38,645
down €38,645 (-100%), from €38,645 to €0
- Gross operating margin -€48,712
down €48,712 (-6.0%), from €806,231 to €757,518
- Staff costs +€22,420
up €22,420 (+10.2%), from €219,886 to €242,306
- Depreciation -€13,111
down €13,111 (-7.4%), from €177,021 to €163,910
- Taxes -€12,426
down €12,426 (-11.3%), from €110,226 to €97,801
- Financial charges +€8,918
up €8,918 (+165%), from €5,409 to €14,328
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 | €1,983,731 | €1,662,264 | -€321,467 | -16.2% |
| Fixed assets | 21/28 | €720,356 | €606,712 | -€113,644 | -15.8% |
| Intangible fixed assets | 21 | €62,745 | €1 | -€62,744 | -100.0% |
| Tangible fixed assets | 22/27 | €657,376 | €606,476 | -€50,900 | -7.7% |
| Land and buildings | 22 | €388,822 | €352,340 | -€36,482 | -9.4% |
| Plant, machinery and equipment | 23 | €215,631 | €213,684 | -€1,947 | -0.9% |
| Furniture and vehicles | 24 | €52,922 | €40,452 | -€12,471 | -23.6% |
| Financial fixed assets | 28 | €235 | €235 | = | 0.0% |
| Current assets | 29/58 | €1,263,376 | €1,055,553 | -€207,823 | -16.4% |
| Amounts receivable after more than one year | 29 | €6,956 | €20,868 | +€13,912 | +200% |
| Other amounts receivable | 291 | €6,956 | €20,868 | +€13,912 | +200% |
| Stocks and contracts in progress | 3 | €98,015 | €92,678 | -€5,337 | -5.4% |
| Stocks | 30/36 | €98,015 | €92,678 | -€5,337 | -5.4% |
| Amounts receivable within one year | 40/41 | €287,948 | €204,068 | -€83,880 | -29.1% |
| Trade receivables | 40 | €278,407 | €184,091 | -€94,316 | -33.9% |
| Other amounts receivable | 41 | €9,542 | €19,977 | +€10,435 | +109% |
| Current investments | 50/53 | €1,240 | €1,240 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €805,964 | €728,115 | -€77,850 | -9.7% |
| Deferred charges and accrued income | 490/1 | €63,252 | €8,584 | -€54,668 | -86.4% |
| Total equity and liabilities | 10/49 | €1,983,731 | €1,662,264 | -€321,467 | -16.2% |
| Equity | 10/15 | €1,338,628 | €1,403,972 | +€65,344 | +4.9% |
| Contributions | 10/11 | €353,182 | €353,182 | = | 0.0% |
| Reserves | 13 | €953,780 | €1,030,111 | +€76,331 | +8.0% |
| Distributable reserves | 133 | €953,780 | €1,030,111 | +€76,331 | +8.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €31,667 | €20,679 | -€10,987 | -34.7% |
| Provisions and deferred taxes | 16 | €1,646 | €1,073 | -€573 | -34.8% |
| Deferred taxes | 168 | €1,646 | €1,073 | -€573 | -34.8% |
| Amounts payable | 17/49 | €643,457 | €257,219 | -€386,238 | -60.0% |
| Amounts payable after more than one year | 17 | €38,645 | €0 | -€38,645 | -100% |
| Financial debts | 170/4 | €38,645 | €0 | -€38,645 | -100% |
| Amounts payable within one year | 42/48 | €604,812 | €257,219 | -€347,593 | -57.5% |
| Current portion of amounts payable after more than one year | 42 | €253,393 | €0 | -€253,393 | -100% |
| Trade debts | 44 | €274,342 | €207,565 | -€66,777 | -24.3% |
| Suppliers | 440/4 | €274,342 | €207,565 | -€66,777 | -24.3% |
| Advances received on contracts in progress | 46 | - | €10,797 | +€10,797 | |
| Taxes, remuneration and social security | 45 | €77,077 | €38,423 | -€38,654 | -50.1% |
| Taxes | 450/3 | €35,251 | €2,291 | -€32,960 | -93.5% |
| Remuneration and social security | 454/9 | €41,826 | €36,132 | -€5,694 | -13.6% |
| Other amounts payable | 47/48 | - | €434 | +€434 | |
| Non-recurring operating income | 76A | €950 | €0 | -€950 | -100% |
| Remuneration, social security and pensions | 62 | €219,886 | €242,306 | +€22,420 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177,021 | €163,910 | -€13,111 | -7.4% |
| Other operating charges | 640/8 | €14,996 | €15,611 | +€615 | +4.1% |
| Gross operating margin | 9900 | €806,231 | €757,518 | -€48,712 | -6.0% |
| Operating profit (loss) | 9901 | €394,328 | €335,692 | -€58,636 | -14.9% |
| Financial income | 75/76B | €12,167 | €12,195 | +€28 | +0.2% |
| Recurring financial income | 75 | €12,167 | €12,195 | +€28 | +0.2% |
| Financial charges | 65/66B | €5,409 | €14,328 | +€8,918 | +165% |
| Recurring financial charges | 65 | €5,409 | €14,328 | +€8,918 | +165% |
| Profit (loss) for the period before taxes | 9903 | €401,085 | €333,559 | -€67,526 | -16.8% |
| Transfer from deferred taxes | 780 | €573 | €573 | = | 0.0% |
| Income taxes | 67/77 | €110,226 | €97,801 | -€12,426 | -11.3% |
| Profit (loss) for the period | 9904 | €291,432 | €236,331 | -€55,101 | -18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €291,432 | €236,331 | -€55,101 | -18.9% |
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 16 October 2026 via checked.be.