WGS: 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.
WGS
Largest movements
- Receivables within one year -€59,176
down €59,176 (-15.8%), from €374,182 to €315,006
of which Other amounts receivable: -€148,868
- Cash +€46,012
up €46,012 (+23.2%), from €198,366 to €244,377
mainly Receivables within one year (+€59,176) and Depreciation (+€22,659)
- Debts after one year -€28,522
down €28,522 (-5.6%), from €505,054 to €476,532
- Reserves +€16,348
up €16,348 (+2.8%), from €593,860 to €610,208
- Trade debts -€13,288
down €13,288 (-74.0%), from €17,946 to €4,658
- Gross operating margin -€75,466
down €75,466 (-69.1%), from €109,146 to €33,680
- Financial income +€24,342
up €24,342 (+264%), from €9,213 to €33,555
- Taxes -€13,977
down €13,977 (-60.6%), from €23,066 to €9,089
- Depreciation +€1,394
up €1,394 (+6.6%), from €21,265 to €22,659
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 | €1,288,497 | €1,265,316 | -€23,181 | -1.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €648,974 | €638,704 | -€10,269 | -1.6% |
| Tangible fixed assets | 22/27 | €648,974 | €638,704 | -€10,269 | -1.6% |
| Land and buildings | 22 | €616,651 | €596,051 | -€20,600 | -3.3% |
| Plant, machinery and equipment | 23 | - | €4,228 | +€4,228 | |
| Furniture and vehicles | 24 | €1,567 | €7,670 | +€6,102 | +389% |
| Other tangible fixed assets | 26 | €30,756 | €30,756 | = | 0.0% |
| Current assets | 29/58 | €639,523 | €626,612 | -€12,911 | -2.0% |
| Amounts receivable after more than one year | 29 | €420 | €420 | = | 0.0% |
| Trade receivables | 290 | €420 | €420 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €374,182 | €315,006 | -€59,176 | -15.8% |
| Trade receivables | 40 | €47,437 | €137,129 | +€89,692 | +189% |
| Other amounts receivable | 41 | €326,745 | €177,878 | -€148,868 | -45.6% |
| Current investments | 50/53 | €64,289 | €64,289 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €198,366 | €244,377 | +€46,012 | +23.2% |
| Deferred charges and accrued income | 490/1 | €2,266 | €2,519 | +€253 | +11.1% |
| Total equity and liabilities | 10/49 | €1,288,497 | €1,265,316 | -€23,181 | -1.8% |
| Equity | 10/15 | €606,260 | €622,608 | +€16,348 | +2.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €593,860 | €610,208 | +€16,348 | +2.8% |
| Distributable reserves | 133 | €593,860 | €610,208 | +€16,348 | +2.8% |
| Amounts payable | 17/49 | €682,238 | €642,709 | -€39,529 | -5.8% |
| Amounts payable after more than one year | 17 | €505,054 | €476,532 | -€28,522 | -5.6% |
| Financial debts | 170/4 | €505,054 | €476,532 | -€28,522 | -5.6% |
| Amounts payable within one year | 42/48 | €162,904 | €148,327 | -€14,577 | -8.9% |
| Current portion of amounts payable after more than one year | 42 | €28,192 | €28,522 | +€330 | +1.2% |
| Trade debts | 44 | €17,946 | €4,658 | -€13,288 | -74.0% |
| Suppliers | 440/4 | €17,946 | €4,658 | -€13,288 | -74.0% |
| Advances received on contracts in progress | 46 | €11,050 | €12,455 | +€1,405 | +12.7% |
| Taxes, remuneration and social security | 45 | €78,371 | €83,479 | +€5,109 | +6.5% |
| Taxes | 450/3 | €37,871 | €38,979 | +€1,109 | +2.9% |
| Remuneration and social security | 454/9 | €40,500 | €44,500 | +€4,000 | +9.9% |
| Other amounts payable | 47/48 | €27,345 | €19,213 | -€8,132 | -29.7% |
| Accrued charges and deferred income | 492/3 | €14,280 | €17,850 | +€3,570 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,265 | €22,659 | +€1,394 | +6.6% |
| Other operating charges | 640/8 | €4,907 | €4,834 | -€74 | -1.5% |
| Gross operating margin | 9900 | €109,146 | €33,680 | -€75,466 | -69.1% |
| Operating profit (loss) | 9901 | €82,974 | €6,187 | -€76,786 | -92.5% |
| Financial income | 75/76B | €9,213 | €33,555 | +€24,342 | +264% |
| Recurring financial income | 75 | €9,213 | €33,555 | +€24,342 | +264% |
| Financial charges | 65/66B | €15,322 | €14,306 | -€1,017 | -6.6% |
| Recurring financial charges | 65 | €15,322 | €14,306 | -€1,017 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €76,864 | €25,437 | -€51,428 | -66.9% |
| Income taxes | 67/77 | €23,066 | €9,089 | -€13,977 | -60.6% |
| Profit (loss) for the period | 9904 | €53,799 | €16,348 | -€37,451 | -69.6% |
| Profit (loss) for the period to be appropriated | 9905 | €53,799 | €16,348 | -€37,451 | -69.6% |
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 26 October 2026 via checked.be.