WG ESTATE: 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.
WG ESTATE
Largest movements
- Tangible fixed assets -€71,921
down €71,921 (-3.5%), from €2.0m to €2.0m
of which Land and buildings: -€69,807
- Cash -€31,966
down €31,966 (-21.4%), from €149,422 to €117,457
mainly Contributions, distributions and other (-€75,911) and Debts after one year (-€61,341)
- Debts after one year -€61,341
down €61,341 (-9.7%), from €629,631 to €568,290
- Reserves -€53,709
down €53,709 (-4.5%), from €1.2m to €1.1m
of which Distributable reserves: -€47,615
- Other debts +€45,224
up €45,224 (+42.4%), from €106,742 to €151,966
- Taxes -€32,361
down €32,361 (-75.7%), from €42,759 to €10,399
- Financial charges -€23,793
down €23,793 (-57.1%), from €41,697 to €17,904
- Gross operating margin +€21,693
up €21,693 (+16.5%), from €131,343 to €153,036
- Other operating charges -€11,194
down €11,194 (-44.9%), from €24,925 to €13,731
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 | €2,216,599 | €2,104,711 | -€111,888 | -5.0% |
| Fixed assets | 21/28 | €2,033,113 | €1,961,192 | -€71,921 | -3.5% |
| Tangible fixed assets | 22/27 | €2,032,713 | €1,960,792 | -€71,921 | -3.5% |
| Land and buildings | 22 | €2,027,473 | €1,957,666 | -€69,807 | -3.4% |
| Plant, machinery and equipment | 23 | €5,240 | €3,127 | -€2,114 | -40.3% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €183,486 | €143,519 | -€39,967 | -21.8% |
| Amounts receivable within one year | 40/41 | €21,181 | €12,346 | -€8,835 | -41.7% |
| Trade receivables | 40 | €21,181 | €12,346 | -€8,835 | -41.7% |
| Cash at bank and in hand | 54/58 | €149,422 | €117,457 | -€31,966 | -21.4% |
| Deferred charges and accrued income | 490/1 | €12,882 | €13,716 | +€834 | +6.5% |
| Total equity and liabilities | 10/49 | €2,216,599 | €2,104,711 | -€111,888 | -5.0% |
| Equity | 10/15 | €1,242,700 | €1,188,991 | -€53,709 | -4.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,180,726 | €1,127,017 | -€53,709 | -4.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €488,876 | €482,782 | -€6,094 | -1.2% |
| Distributable reserves | 133 | €685,653 | €638,038 | -€47,615 | -6.9% |
| Provisions and deferred taxes | 16 | €119,500 | €117,468 | -€2,031 | -1.7% |
| Deferred taxes | 168 | €119,500 | €117,468 | -€2,031 | -1.7% |
| Amounts payable | 17/49 | €854,400 | €798,252 | -€56,147 | -6.6% |
| Amounts payable after more than one year | 17 | €629,631 | €568,290 | -€61,341 | -9.7% |
| Financial debts | 170/4 | €629,631 | €568,290 | -€61,341 | -9.7% |
| Amounts payable within one year | 42/48 | €203,703 | €229,963 | +€26,260 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €75,893 | €63,975 | -€11,918 | -15.7% |
| Trade debts | 44 | €10,432 | €2,871 | -€7,562 | -72.5% |
| Suppliers | 440/4 | €10,432 | €2,871 | -€7,562 | -72.5% |
| Taxes, remuneration and social security | 45 | €10,635 | €11,151 | +€516 | +4.8% |
| Taxes | 450/3 | €6,467 | €6,983 | +€516 | +8.0% |
| Remuneration and social security | 454/9 | €4,168 | €4,168 | = | 0.0% |
| Other amounts payable | 47/48 | €106,742 | €151,966 | +€45,224 | +42.4% |
| Accrued charges and deferred income | 492/3 | €21,066 | - | -€21,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,460 | €90,839 | +€1,379 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €73 | - | -€73 | |
| Other operating charges | 640/8 | €24,925 | €13,731 | -€11,194 | -44.9% |
| Gross operating margin | 9900 | €131,343 | €153,036 | +€21,693 | +16.5% |
| Operating profit (loss) | 9901 | €16,886 | €48,466 | +€31,581 | +187% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €41,697 | €17,904 | -€23,793 | -57.1% |
| Recurring financial charges | 65 | €41,697 | €17,904 | -€23,793 | -57.1% |
| Profit (loss) for the period before taxes | 9903 | -€24,811 | €30,569 | +€55,380 | |
| Transfer from deferred taxes | 780 | €143,059 | €2,031 | -€141,028 | -98.6% |
| Income taxes | 67/77 | €42,759 | €10,399 | -€32,361 | -75.7% |
| Profit (loss) for the period | 9904 | €75,489 | €22,202 | -€53,287 | -70.6% |
| Transfer from tax-exempt reserves | 789 | €78,201 | €6,094 | -€72,107 | -92.2% |
| Profit (loss) for the period to be appropriated | 9905 | €153,690 | €28,296 | -€125,394 | -81.6% |
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 30 October 2026 via checked.be.