WG 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.
WG PROJECTS
Largest movements
- Tangible fixed assets +€3.4m
up €3.4m (+808%), from €419,616 to €3.8m
of which Land and buildings: +€3.3m
- Debts after one year +€3.3m
up €3.3m (+589%), from €559,813 to €3.9m
- Current portion of long-term debt +€93,068
up €93,068 (+859%), from €10,833 to €103,901
- Reserves +€89,000
up €89,000 (+44.9%), from €198,358 to €287,358
- Other debts -€75,000
down €75,000 (-21.5%), from €349,143 to €274,143
- Financial income +€139,888
new in 2025: €139,888
- Other operating charges -€51,337
down €51,337 (-97.5%), from €52,661 to €1,324
- Financial charges +€17,571
up €17,571 (+257%), from €6,840 to €24,411
- Depreciation +€10,795
up €10,795 (+2,814%), from €384 to €11,178
- Gross operating margin +€1,487
up €1,487 (+9.6%), from -€15,463 to -€13,975
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 | €1,234,835 | €4,636,354 | +€3.4m | +275% |
| Fixed assets | 21/28 | €1,229,879 | €4,615,701 | +€3.4m | +275% |
| Tangible fixed assets | 22/27 | €419,616 | €3,808,438 | +€3.4m | +808% |
| Land and buildings | 22 | €419,616 | €3,758,833 | +€3.3m | +796% |
| Furniture and vehicles | 24 | - | €49,605 | +€49,605 | |
| Financial fixed assets | 28 | €810,263 | €807,263 | -€3,000 | -0.4% |
| Current assets | 29/58 | €4,956 | €20,653 | +€15,697 | +317% |
| Amounts receivable within one year | 40/41 | - | €10,292 | +€10,292 | |
| Trade receivables | 40 | - | €10,292 | +€10,292 | |
| Cash at bank and in hand | 54/58 | €4,614 | €8,381 | +€3,767 | +81.7% |
| Deferred charges and accrued income | 490/1 | €342 | €1,980 | +€1,638 | +479% |
| Total equity and liabilities | 10/49 | €1,234,835 | €4,636,354 | +€3.4m | +275% |
| Equity | 10/15 | €313,397 | €402,398 | +€89,000 | +28.4% |
| Contributions | 10/11 | €115,039 | €115,039 | = | 0.0% |
| Contributions outside capital | 11 | €115,039 | - | -€115,039 | |
| Other | 1109/19 | €115,039 | - | -€115,039 | |
| Reserves | 13 | €198,358 | €287,358 | +€89,000 | +44.9% |
| Distributable reserves | 133 | €198,358 | €287,358 | +€89,000 | +44.9% |
| Amounts payable | 17/49 | €921,438 | €4,233,956 | +€3.3m | +359% |
| Amounts payable after more than one year | 17 | €559,813 | €3,855,912 | +€3.3m | +589% |
| Financial debts | 170/4 | €559,813 | €3,855,912 | +€3.3m | +589% |
| Amounts payable within one year | 42/48 | €361,625 | €378,044 | +€16,419 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €10,833 | €103,901 | +€93,068 | +859% |
| Taxes, remuneration and social security | 45 | €1,649 | €0 | -€1,649 | -100% |
| Taxes | 450/3 | €1,649 | €0 | -€1,649 | -100% |
| Other amounts payable | 47/48 | €349,143 | €274,143 | -€75,000 | -21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €384 | €11,178 | +€10,795 | +2,814% |
| Other operating charges | 640/8 | €52,661 | €1,324 | -€51,337 | -97.5% |
| Gross operating margin | 9900 | -€15,463 | -€13,975 | +€1,487 | +9.6% |
| Operating profit (loss) | 9901 | -€68,507 | -€26,477 | +€42,030 | +61.4% |
| Financial income | 75/76B | - | €139,888 | +€139,888 | |
| Recurring financial income | 75 | - | €139,888 | +€139,888 | |
| Financial charges | 65/66B | €6,840 | €24,411 | +€17,571 | +257% |
| Recurring financial charges | 65 | €6,840 | €24,411 | +€17,571 | +257% |
| Profit (loss) for the period before taxes | 9903 | -€75,347 | €89,000 | +€164,347 | |
| Profit (loss) for the period | 9904 | -€75,347 | €89,000 | +€164,347 | |
| Profit (loss) for the period to be appropriated | 9905 | -€75,347 | €89,000 | +€164,347 |
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 14 October 2026 via checked.be.