WFT: 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.
WFT
Largest movements
- Receivables within one year +€373,936
up €373,936 (+33.1%), from €1.1m to €1.5m
of which Trade receivables: +€364,315
- Cash -€121,731
down €121,731 (-19.6%), from €621,736 to €500,005
mainly Receivables within one year (-€373,936) and Trade debts (-€363,786)
- Deferred charges and accrued income -€96,310
down €96,310 (-92.6%), from €104,037 to €7,727
- Tangible fixed assets -€85,212
down €85,212 (-12.3%), from €692,868 to €607,656
- Reserves +€490,072
up €490,072 (+59.4%), from €825,321 to €1.3m
of which Distributable reserves: +€490,072
- Trade debts -€363,786
down €363,786 (-39.8%), from €914,999 to €551,213
- Debts after one year -€52,243
down €52,243 (-12.7%), from €411,142 to €358,899
- Gross operating margin +€558,371
up €558,371 (+147%), from €380,555 to €938,926
- Taxes +€171,833
up €171,833 (+300%), from €57,258 to €229,091
- Staff costs +€27,499
up €27,499 (+30.2%), from €90,933 to €118,433
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 | €2,556,312 | €2,626,995 | +€70,683 | +2.8% |
| Fixed assets | 21/28 | €699,828 | €614,616 | -€85,212 | -12.2% |
| Tangible fixed assets | 22/27 | €692,868 | €607,656 | -€85,212 | -12.3% |
| Land and buildings | 22 | €516,468 | €493,135 | -€23,333 | -4.5% |
| Plant, machinery and equipment | 23 | €48,169 | €25,547 | -€22,621 | -47.0% |
| Furniture and vehicles | 24 | €128,231 | €88,973 | -€39,258 | -30.6% |
| Financial fixed assets | 28 | €6,961 | €6,961 | = | 0.0% |
| Current assets | 29/58 | €1,856,483 | €2,012,378 | +€155,895 | +8.4% |
| Stocks and contracts in progress | 3 | €750 | €750 | = | 0.0% |
| Stocks | 30/36 | €750 | €750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,129,960 | €1,503,896 | +€373,936 | +33.1% |
| Trade receivables | 40 | €1,017,203 | €1,381,518 | +€364,315 | +35.8% |
| Other amounts receivable | 41 | €112,757 | €122,378 | +€9,621 | +8.5% |
| Cash at bank and in hand | 54/58 | €621,736 | €500,005 | -€121,731 | -19.6% |
| Deferred charges and accrued income | 490/1 | €104,037 | €7,727 | -€96,310 | -92.6% |
| Total equity and liabilities | 10/49 | €2,556,312 | €2,626,995 | +€70,683 | +2.8% |
| Equity | 10/15 | €1,040,640 | €1,529,513 | +€488,872 | +47.0% |
| Contributions | 10/11 | €211,300 | €211,300 | = | 0.0% |
| Reserves | 13 | €825,321 | €1,315,393 | +€490,072 | +59.4% |
| Non-distributable reserves | 130/1 | €21,750 | €21,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €21,750 | €21,750 | = | 0.0% |
| Distributable reserves | 133 | €803,571 | €1,293,643 | +€490,072 | +61.0% |
| Investment grants | 15 | €4,020 | €2,820 | -€1,200 | -29.9% |
| Amounts payable | 17/49 | €1,515,671 | €1,097,482 | -€418,189 | -27.6% |
| Amounts payable after more than one year | 17 | €411,142 | €358,899 | -€52,243 | -12.7% |
| Financial debts | 170/4 | €411,142 | €358,899 | -€52,243 | -12.7% |
| Amounts payable within one year | 42/48 | €1,097,420 | €730,888 | -€366,532 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | €52,243 | €52,243 | = | 0.0% |
| Trade debts | 44 | €914,999 | €551,213 | -€363,786 | -39.8% |
| Suppliers | 440/4 | €914,999 | €551,213 | -€363,786 | -39.8% |
| Taxes, remuneration and social security | 45 | €16,426 | €17,276 | +€849 | +5.2% |
| Taxes | 450/3 | €8,057 | €1,130 | -€6,927 | -86.0% |
| Remuneration and social security | 454/9 | €8,369 | €16,145 | +€7,776 | +92.9% |
| Other amounts payable | 47/48 | €113,751 | €110,157 | -€3,594 | -3.2% |
| Accrued charges and deferred income | 492/3 | €7,109 | €7,695 | +€585 | +8.2% |
| Remuneration, social security and pensions | 62 | €90,933 | €118,433 | +€27,499 | +30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,729 | €85,212 | +€1,483 | +1.8% |
| Other operating charges | 640/8 | €11,755 | €2,902 | -€8,853 | -75.3% |
| Gross operating margin | 9900 | €380,555 | €938,926 | +€558,371 | +147% |
| Operating profit (loss) | 9901 | €194,138 | €732,379 | +€538,241 | +277% |
| Financial income | 75/76B | €1,807 | €1,895 | +€88 | +4.9% |
| Recurring financial income | 75 | €1,807 | €1,895 | +€88 | +4.9% |
| Financial charges | 65/66B | €14,732 | €15,111 | +€379 | +2.6% |
| Recurring financial charges | 65 | €14,732 | €15,111 | +€379 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €181,213 | €719,163 | +€537,951 | +297% |
| Income taxes | 67/77 | €57,258 | €229,091 | +€171,833 | +300% |
| Profit (loss) for the period | 9904 | €123,954 | €490,072 | +€366,118 | +295% |
| Profit (loss) for the period to be appropriated | 9905 | €123,954 | €490,072 | +€366,118 | +295% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.