WFS: 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.
WFS
Largest movements
- Intangible fixed assets -€51,625
down €51,625 (-50.0%), from €103,250 to €51,625
- Cash -€27,172
down €27,172 (-24.7%), from €109,994 to €82,822
mainly Contributions, distributions and other (-€242,245) and Other debts (-€56,646)
- Tangible fixed assets -€16,422
down €16,422 (-34.2%), from €48,008 to €31,585
of which Furniture and vehicles: -€14,964
- Receivables within one year -€14,831
down €14,831 (-10.3%), from €144,598 to €129,768
of which Other amounts receivable: -€19,049
- Deferred charges and accrued income +€9,693
up €9,693 (+131%), from €7,385 to €17,078
- Other debts -€56,646
down €56,646 (-19.7%), from €287,851 to €231,204
- Debts after one year -€47,966
down €47,966 (-85.7%), from €55,984 to €8,018
- Financial charges +€62,192
up €62,192 (+82.7%), from €75,199 to €137,391
- Taxes -€20,034
down €20,034 (-22.4%), from €89,628 to €69,594
- Gross operating margin -€11,657
down €11,657 (-2.3%), from €508,127 to €496,470
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €417,872 | €317,515 | -€100,357 | -24.0% |
| Fixed assets | 21/28 | €155,895 | €87,848 | -€68,047 | -43.6% |
| Intangible fixed assets | 21 | €103,250 | €51,625 | -€51,625 | -50.0% |
| Tangible fixed assets | 22/27 | €48,008 | €31,585 | -€16,422 | -34.2% |
| Plant, machinery and equipment | 23 | €8,116 | €6,657 | -€1,459 | -18.0% |
| Furniture and vehicles | 24 | €39,892 | €24,928 | -€14,964 | -37.5% |
| Financial fixed assets | 28 | €4,638 | €4,638 | = | 0.0% |
| Current assets | 29/58 | €261,977 | €229,668 | -€32,309 | -12.3% |
| Amounts receivable within one year | 40/41 | €144,598 | €129,768 | -€14,831 | -10.3% |
| Trade receivables | 40 | €124,733 | €128,952 | +€4,219 | +3.4% |
| Other amounts receivable | 41 | €19,865 | €815 | -€19,049 | -95.9% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €109,994 | €82,822 | -€27,172 | -24.7% |
| Deferred charges and accrued income | 490/1 | €7,385 | €17,078 | +€9,693 | +131% |
| Total equity and liabilities | 10/49 | €417,872 | €317,515 | -€100,357 | -24.0% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €399,272 | €298,915 | -€100,357 | -25.1% |
| Amounts payable after more than one year | 17 | €55,984 | €8,018 | -€47,966 | -85.7% |
| Financial debts | 170/4 | €55,984 | €8,018 | -€47,966 | -85.7% |
| Amounts payable within one year | 42/48 | €343,288 | €290,897 | -€52,391 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €47,724 | €47,966 | +€243 | +0.5% |
| Trade debts | 44 | €7,714 | €11,727 | +€4,013 | +52.0% |
| Suppliers | 440/4 | €7,714 | €11,727 | +€4,013 | +52.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €287,851 | €231,204 | -€56,646 | -19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,769 | €71,947 | +€1,179 | +1.7% |
| Other operating charges | 640/8 | €203 | €292 | +€89 | +43.7% |
| Gross operating margin | 9900 | €508,127 | €496,470 | -€11,657 | -2.3% |
| Operating profit (loss) | 9901 | €437,155 | €424,230 | -€12,925 | -3.0% |
| Financial income | 75/76B | €26,571 | €25,000 | -€1,571 | -5.9% |
| Recurring financial income | 75 | €26,571 | €25,000 | -€1,571 | -5.9% |
| Financial charges | 65/66B | €75,199 | €137,391 | +€62,192 | +82.7% |
| Recurring financial charges | 65 | €75,199 | €137,391 | +€62,192 | +82.7% |
| Profit (loss) for the period before taxes | 9903 | €388,528 | €311,839 | -€76,689 | -19.7% |
| Income taxes | 67/77 | €89,628 | €69,594 | -€20,034 | -22.4% |
| Profit (loss) for the period | 9904 | €298,900 | €242,245 | -€56,654 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €298,900 | €242,245 | -€56,654 | -19.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.