WF Projects: 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.
WF Projects
Largest movements
- Tangible fixed assets +€44,316
up €44,316 (+2,411%), from €1,838 to €46,154
of which Land and buildings: +€42,282
- Cash +€28,106
up €28,106 (+69.7%), from €40,299 to €68,405
mainly Net result for the year (+€45,401) and Debts after one year (+€33,890)
- Receivables within one year +€11,316
up €11,316 (+42.6%), from €26,592 to €37,908
of which Other amounts receivable: +€7,599
- Reserves +€45,401
up €45,401 (+92.3%), from €49,193 to €94,594
- Debts after one year +€33,890
new in 2025: €33,890
- Current portion of long-term debt +€3,143
new in 2025: €3,143
- Trade debts +€2,811
up €2,811 (+323%), from €870 to €3,681
- Other operating charges +€5,950
up €5,950 (+499%), from €1,193 to €7,143
- Gross operating margin +€4,095
up €4,095 (+6.5%), from €62,896 to €66,991
- Financial charges +€2,409
up €2,409 (+3,278%), from €74 to €2,483
- Taxes -€955
down €955 (-7.8%), from €12,292 to €11,337
- Depreciation +€850
up €850 (+589%), from €144 to €995
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 | €68,729 | €152,601 | +€83,872 | +122% |
| Fixed assets | 21/28 | €1,838 | €46,288 | +€44,450 | +2,418% |
| Tangible fixed assets | 22/27 | €1,838 | €46,154 | +€44,316 | +2,411% |
| Land and buildings | 22 | - | €42,282 | +€42,282 | |
| Plant, machinery and equipment | 23 | €1,529 | €2,416 | +€887 | +58.0% |
| Furniture and vehicles | 24 | €309 | €1,456 | +€1,147 | +371% |
| Financial fixed assets | 28 | - | €134 | +€134 | |
| Current assets | 29/58 | €66,891 | €106,313 | +€39,422 | +58.9% |
| Amounts receivable within one year | 40/41 | €26,592 | €37,908 | +€11,316 | +42.6% |
| Trade receivables | 40 | €19,679 | €23,396 | +€3,717 | +18.9% |
| Other amounts receivable | 41 | €6,913 | €14,512 | +€7,599 | +110% |
| Cash at bank and in hand | 54/58 | €40,299 | €68,405 | +€28,106 | +69.7% |
| Total equity and liabilities | 10/49 | €68,729 | €152,601 | +€83,872 | +122% |
| Equity | 10/15 | €59,193 | €104,594 | +€45,401 | +76.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €49,193 | €94,594 | +€45,401 | +92.3% |
| Distributable reserves | 133 | €49,193 | €94,594 | +€45,401 | +92.3% |
| Amounts payable | 17/49 | €9,536 | €48,007 | +€38,471 | +403% |
| Amounts payable after more than one year | 17 | - | €33,890 | +€33,890 | |
| Financial debts | 170/4 | - | €33,890 | +€33,890 | |
| Amounts payable within one year | 42/48 | €9,536 | €14,116 | +€4,580 | +48.0% |
| Current portion of amounts payable after more than one year | 42 | - | €3,143 | +€3,143 | |
| Trade debts | 44 | €870 | €3,681 | +€2,811 | +323% |
| Suppliers | 440/4 | €870 | €3,681 | +€2,811 | +323% |
| Taxes, remuneration and social security | 45 | €7,292 | €7,292 | = | 0.0% |
| Taxes | 450/3 | €7,292 | €7,292 | = | 0.0% |
| Other amounts payable | 47/48 | €1,374 | - | -€1,374 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144 | €995 | +€850 | +589% |
| Other operating charges | 640/8 | €1,193 | €7,143 | +€5,950 | +499% |
| Gross operating margin | 9900 | €62,896 | €66,991 | +€4,095 | +6.5% |
| Operating profit (loss) | 9901 | €61,559 | €58,853 | -€2,706 | -4.4% |
| Financial income | 75/76B | €0 | €369 | +€369 | +1,842,550% |
| Recurring financial income | 75 | €0 | €369 | +€369 | +1,842,550% |
| Financial charges | 65/66B | €74 | €2,483 | +€2,409 | +3,278% |
| Recurring financial charges | 65 | €74 | €2,483 | +€2,409 | +3,278% |
| Profit (loss) for the period before taxes | 9903 | €61,486 | €56,739 | -€4,747 | -7.7% |
| Income taxes | 67/77 | €12,292 | €11,337 | -€955 | -7.8% |
| Profit (loss) for the period | 9904 | €49,193 | €45,401 | -€3,792 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €49,193 | €45,401 | -€3,792 | -7.7% |
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 13 October 2026 via checked.be.