WGM: what changed
WGM
Largest movements
- Tangible fixed assets -€201,535
down €201,535 (-23.6%), from €853,830 to €652,295
of which Land and buildings: -€222,854
- Cash -€33,870
down €33,870 (-33.6%), from €100,699 to €66,829
mainly Other debts (-€216,310) and Receivables within one year (-€19,875)
- Receivables within one year +€19,875
up €19,875 (+129%), from €15,398 to €35,273
of which Trade receivables: +€23,100
- Other debts -€216,310
down €216,310 (-53.6%), from €403,601 to €187,291
- Gross operating margin -€47,159
down €47,159 (-79.8%), from €59,073 to €11,914
- Depreciation -€23,824
down €23,824 (-96.9%), from €24,575 to €751
- Financial charges -€15,985
down €15,985 (-99.4%), from €16,076 to €91
- Taxes +€2,578
up €2,578 (+49.5%), from €5,207 to €7,785
- Other operating charges +€1,343
up €1,343 (+113%), from €1,189 to €2,532
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,004,441 | €795,044 | -€209,397 | -20.8% |
| Fixed assets | 21/28 | €853,830 | €652,295 | -€201,535 | -23.6% |
| Tangible fixed assets | 22/27 | €853,830 | €652,295 | -€201,535 | -23.6% |
| Land and buildings | 22 | €222,854 | €0 | -€222,854 | -100% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | €2,951 | +€2,951 | |
| Other tangible fixed assets | 26 | €630,976 | €649,343 | +€18,368 | +2.9% |
| Current assets | 29/58 | €150,611 | €142,749 | -€7,862 | -5.2% |
| Amounts receivable within one year | 40/41 | €15,398 | €35,273 | +€19,875 | +129% |
| Trade receivables | 40 | €0 | €23,100 | +€23,100 | |
| Other amounts receivable | 41 | €15,398 | €12,173 | -€3,225 | -20.9% |
| Cash at bank and in hand | 54/58 | €100,699 | €66,829 | -€33,870 | -33.6% |
| Deferred charges and accrued income | 490/1 | €34,514 | €40,647 | +€6,133 | +17.8% |
| Total equity and liabilities | 10/49 | €1,004,441 | €795,044 | -€209,397 | -20.8% |
| Equity | 10/15 | €576,652 | €577,406 | +€754 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €558,052 | €558,806 | +€754 | +0.1% |
| Distributable reserves | 133 | €558,052 | €558,806 | +€754 | +0.1% |
| Amounts payable | 17/49 | €427,789 | €217,638 | -€210,151 | -49.1% |
| Amounts payable within one year | 42/48 | €427,789 | €217,638 | -€210,151 | -49.1% |
| Trade debts | 44 | €13,185 | €17,626 | +€4,441 | +33.7% |
| Suppliers | 440/4 | €13,185 | €17,626 | +€4,441 | +33.7% |
| Taxes, remuneration and social security | 45 | €11,003 | €12,721 | +€1,718 | +15.6% |
| Taxes | 450/3 | €11,003 | €12,721 | +€1,718 | +15.6% |
| Other amounts payable | 47/48 | €403,601 | €187,291 | -€216,310 | -53.6% |
| Non-recurring operating income | 76A | - | €13,931 | +€13,931 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,575 | €751 | -€23,824 | -96.9% |
| Other operating charges | 640/8 | €1,189 | €2,532 | +€1,343 | +113% |
| Gross operating margin | 9900 | €59,073 | €11,914 | -€47,159 | -79.8% |
| Operating profit (loss) | 9901 | €33,308 | €8,631 | -€24,678 | -74.1% |
| Financial income | 75/76B | €797 | €0 | -€797 | -100% |
| Recurring financial income | 75 | €797 | €0 | -€797 | -100% |
| Financial charges | 65/66B | €16,076 | €91 | -€15,985 | -99.4% |
| Recurring financial charges | 65 | €16,076 | €91 | -€15,985 | -99.4% |
| Profit (loss) for the period before taxes | 9903 | €18,030 | €8,539 | -€9,490 | -52.6% |
| Income taxes | 67/77 | €5,207 | €7,785 | +€2,578 | +49.5% |
| Profit (loss) for the period | 9904 | €12,823 | €754 | -€12,069 | -94.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,823 | €754 | -€12,069 | -94.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.