WFR: 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.
WFR
Largest movements
- Tangible fixed assets +€610,604
up €610,604 (+30.4%), from €2.0m to €2.6m
of which Leasing and similar rights: +€657,512
- Cash -€85,555
down €85,555 (-20.8%), from €411,409 to €325,854
mainly Investment in fixed assets (net) (-€777,932) and Receivables within one year (-€66,500)
- Receivables within one year +€66,500
up €66,500 (+47.5%), from €140,040 to €206,541
of which Trade receivables: +€66,503
- Debts after one year +€400,548
up €400,548 (+24.7%), from €1.6m to €2.0m
- Current portion of long-term debt +€91,853
up €91,853 (+231.3%), from €39,707 to €131,561
- Profit (loss) carried forward +€58,728
up €58,728 (+19.7%), from -€297,545 to -€238,817
- Trade debts +€37,596
up €37,596 (+74.5%), from €50,443 to €88,039
- Depreciation +€60,893
up €60,893 (+56.7%), from €107,303 to €168,196
- Gross operating margin +€44,596
up €44,596 (+7.3%), from €609,877 to €654,473
- Staff costs +€31,496
up €31,496 (+9.2%), from €343,784 to €375,280
- Financial charges +€20,505
up €20,505 (+279.9%), from €7,327 to €27,831
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 | €2,768,123 | €3,384,444 | +€616,320 | +22.3% |
| Fixed assets | 21/28 | €2,008,561 | €2,618,297 | +€609,736 | +30.4% |
| Intangible fixed assets | 21 | €869 | €0 | -€869 | -100.0% |
| Tangible fixed assets | 22/27 | €2,007,693 | €2,618,297 | +€610,604 | +30.4% |
| Land and buildings | 22 | €1,537,595 | €1,574,600 | +€37,005 | +2.4% |
| Plant, machinery and equipment | 23 | €347,688 | €327,059 | -€20,629 | -5.9% |
| Furniture and vehicles | 24 | €12,460 | €59,127 | +€46,667 | +374.5% |
| Leasing and similar rights | 25 | - | €657,512 | +€657,512 | |
| Assets under construction and advance payments | 27 | €109,950 | €0 | -€109,950 | -100.0% |
| Current assets | 29/58 | €759,562 | €766,147 | +€6,585 | +0.9% |
| Stocks and contracts in progress | 3 | €204,072 | €226,786 | +€22,714 | +11.1% |
| Stocks | 30/36 | €204,072 | €226,786 | +€22,714 | +11.1% |
| Amounts receivable within one year | 40/41 | €140,040 | €206,541 | +€66,500 | +47.5% |
| Trade receivables | 40 | €140,037 | €206,541 | +€66,503 | +47.5% |
| Other amounts receivable | 41 | €3 | €0 | -€3 | -100.0% |
| Cash at bank and in hand | 54/58 | €411,409 | €325,854 | -€85,555 | -20.8% |
| Deferred charges and accrued income | 490/1 | €4,041 | €6,966 | +€2,926 | +72.4% |
| Total equity and liabilities | 10/49 | €2,768,123 | €3,384,444 | +€616,320 | +22.3% |
| Equity | 10/15 | €732,455 | €791,183 | +€58,728 | +8.0% |
| Contributions | 10/11 | €1,030,000 | €1,030,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€297,545 | -€238,817 | +€58,728 | +19.7% |
| Amounts payable | 17/49 | €2,035,668 | €2,593,261 | +€557,593 | +27.4% |
| Amounts payable after more than one year | 17 | €1,620,596 | €2,021,145 | +€400,548 | +24.7% |
| Financial debts | 170/4 | €1,620,596 | €2,021,145 | +€400,548 | +24.7% |
| Amounts payable within one year | 42/48 | €413,272 | €570,252 | +€156,980 | +38.0% |
| Current portion of amounts payable after more than one year | 42 | €39,707 | €131,561 | +€91,853 | +231.3% |
| Trade debts | 44 | €50,443 | €88,039 | +€37,596 | +74.5% |
| Suppliers | 440/4 | €50,443 | €88,039 | +€37,596 | +74.5% |
| Taxes, remuneration and social security | 45 | €94,733 | €123,064 | +€28,331 | +29.9% |
| Taxes | 450/3 | €49,573 | €59,693 | +€10,119 | +20.4% |
| Remuneration and social security | 454/9 | €45,160 | €63,371 | +€18,211 | +40.3% |
| Other amounts payable | 47/48 | €228,388 | €227,588 | -€800 | -0.4% |
| Accrued charges and deferred income | 492/3 | €1,800 | €1,865 | +€65 | +3.6% |
| Non-recurring operating income | 76A | - | €2,252 | +€2,252 | |
| Remuneration, social security and pensions | 62 | €343,784 | €375,280 | +€31,496 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,303 | €168,196 | +€60,893 | +56.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €19,300 | €23,955 | +€4,655 | +24.1% |
| Gross operating margin | 9900 | €609,877 | €654,473 | +€44,596 | +7.3% |
| Operating profit (loss) | 9901 | €139,490 | €87,042 | -€52,448 | -37.6% |
| Financial income | 75/76B | €1,105 | €287 | -€819 | -74.0% |
| Recurring financial income | 75 | €1,105 | €287 | -€819 | -74.0% |
| Financial charges | 65/66B | €7,327 | €27,831 | +€20,505 | +279.9% |
| Recurring financial charges | 65 | €7,327 | €27,831 | +€20,505 | +279.9% |
| Profit (loss) for the period before taxes | 9903 | €133,268 | €59,497 | -€73,771 | -55.4% |
| Income taxes | 67/77 | €352 | €769 | +€417 | +118.5% |
| Profit (loss) for the period | 9904 | €132,916 | €58,728 | -€74,188 | -55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €132,916 | €58,728 | -€74,188 | -55.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.