WGK: 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.
WGK
Largest movements
- Tangible fixed assets +€45,650
up €45,650 (+43.4%), from €105,087 to €150,737
of which Plant, machinery and equipment: +€28,500
- Deferred charges and accrued income +€44,471
up €44,471 (+460.1%), from €9,666 to €54,138
- Cash -€32,933
down €32,933 (-89.2%), from €36,931 to €3,999
mainly Investment in fixed assets (net) (-€45,650) and Deferred charges and accrued income (-€44,471)
- Receivables within one year +€25,775
up €25,775 (+130.8%), from €19,705 to €45,480
of which Trade receivables: +€25,005
- Stocks and contracts +€9,407
up €9,407 (+269.9%), from €3,486 to €12,893
- Other debts +€81,433
up €81,433 (+18939.8%), from €430 to €81,863
- Trade debts +€20,776
up €20,776 (+157.2%), from €13,216 to €33,992
- Debts after one year -€14,000
down €14,000 (-38.6%), from €36,250 to €22,250
- Accrued charges and deferred income +€7,737
up €7,737 (+3094.7%), from €250 to €7,987
- Advances received -€4,122
down €4,122 (-100.0%), from €4,122 to €0
- Gross operating margin -€46,359
down €46,359 (-81.7%), from €56,711 to €10,353
- Depreciation -€30,687
down €30,687 (-100.0%), from €30,687 to €0
- Other operating charges -€3,408
down €3,408 (-49.8%), from €6,843 to €3,434
- Financial charges +€3,176
up €3,176 (+134.6%), from €2,359 to €5,534
- Staff costs -€3,158
down €3,158 (-85.9%), from €3,674 to €516
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 | €175,911 | €268,281 | +€92,371 | +52.5% |
| Fixed assets | 21/28 | €106,122 | €151,772 | +€45,650 | +43.0% |
| Tangible fixed assets | 22/27 | €105,087 | €150,737 | +€45,650 | +43.4% |
| Land and buildings | 22 | €15,064 | €26,512 | +€11,448 | +76.0% |
| Plant, machinery and equipment | 23 | €90,024 | €118,524 | +€28,500 | +31.7% |
| Furniture and vehicles | 24 | - | €5,702 | +€5,702 | |
| Financial fixed assets | 28 | €1,035 | €1,035 | = | 0.0% |
| Current assets | 29/58 | €69,788 | €116,509 | +€46,721 | +66.9% |
| Stocks and contracts in progress | 3 | €3,486 | €12,893 | +€9,407 | +269.9% |
| Stocks | 30/36 | €3,486 | €12,893 | +€9,407 | +269.9% |
| Amounts receivable within one year | 40/41 | €19,705 | €45,480 | +€25,775 | +130.8% |
| Trade receivables | 40 | €7,721 | €32,725 | +€25,005 | +323.9% |
| Other amounts receivable | 41 | €11,984 | €12,754 | +€770 | +6.4% |
| Cash at bank and in hand | 54/58 | €36,931 | €3,999 | -€32,933 | -89.2% |
| Deferred charges and accrued income | 490/1 | €9,666 | €54,138 | +€44,471 | +460.1% |
| Total equity and liabilities | 10/49 | €175,911 | €268,281 | +€92,371 | +52.5% |
| Equity | 10/15 | €103,429 | €103,977 | +€548 | +0.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €73,429 | €73,977 | +€548 | +0.7% |
| Distributable reserves | 133 | €73,429 | €73,977 | +€548 | +0.7% |
| Amounts payable | 17/49 | €72,482 | €164,304 | +€91,822 | +126.7% |
| Amounts payable after more than one year | 17 | €36,250 | €22,250 | -€14,000 | -38.6% |
| Financial debts | 170/4 | €36,250 | €22,250 | -€14,000 | -38.6% |
| Amounts payable within one year | 42/48 | €35,982 | €134,068 | +€98,086 | +272.6% |
| Current portion of amounts payable after more than one year | 42 | €14,000 | €14,000 | = | 0.0% |
| Trade debts | 44 | €13,216 | €33,992 | +€20,776 | +157.2% |
| Suppliers | 440/4 | €13,216 | €33,992 | +€20,776 | +157.2% |
| Advances received on contracts in progress | 46 | €4,122 | €0 | -€4,122 | -100.0% |
| Taxes, remuneration and social security | 45 | €4,214 | €4,212 | -€2 | 0.0% |
| Taxes | 450/3 | €383 | €762 | +€379 | +98.8% |
| Remuneration and social security | 454/9 | €3,830 | €3,450 | -€380 | -9.9% |
| Other amounts payable | 47/48 | €430 | €81,863 | +€81,433 | +18939.8% |
| Accrued charges and deferred income | 492/3 | €250 | €7,987 | +€7,737 | +3094.7% |
| Remuneration, social security and pensions | 62 | €3,674 | €516 | -€3,158 | -85.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,687 | €0 | -€30,687 | -100.0% |
| Other operating charges | 640/8 | €6,843 | €3,434 | -€3,408 | -49.8% |
| Gross operating margin | 9900 | €56,711 | €10,353 | -€46,359 | -81.7% |
| Operating profit (loss) | 9901 | €15,507 | €6,402 | -€9,105 | -58.7% |
| Financial income | 75/76B | €430 | €523 | +€93 | +21.6% |
| Recurring financial income | 75 | €430 | €523 | +€93 | +21.6% |
| Financial charges | 65/66B | €2,359 | €5,534 | +€3,176 | +134.6% |
| Recurring financial charges | 65 | €2,359 | €5,534 | +€3,176 | +134.6% |
| Profit (loss) for the period before taxes | 9903 | €13,579 | €1,391 | -€12,188 | -89.8% |
| Income taxes | 67/77 | €3,748 | €843 | -€2,906 | -77.5% |
| Profit (loss) for the period | 9904 | €9,830 | €548 | -€9,282 | -94.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,830 | €548 | -€9,282 | -94.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.