WH: 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.
WH
Largest movements
- Cash -€9,092
down €9,092 (-27.6%), from €32,908 to €23,816
mainly Contributions, distributions and other (-€26,996) and Trade debts (-€5,887)
- Receivables within one year +€1,626
up €1,626 (+72.6%), from €2,239 to €3,866
of which Trade receivables: +€1,423
- Tangible fixed assets -€1,069
down €1,069 (-9.3%), from €11,433 to €10,365
- Stocks and contracts +€724
up €724 (+9.5%), from €7,612 to €8,337
- Trade debts -€5,887
down €5,887 (-38.3%), from €15,360 to €9,473
- Tax, wage and social debts -€4,651
down €4,651 (-57.4%), from €8,097 to €3,445
- Other debts +€2,724
up €2,724 (+82.9%), from €3,286 to €6,011
- Gross operating margin -€3,198
down €3,198 (-7.3%), from €43,980 to €40,782
- Staff costs -€2,757
down €2,757 (-100%), from €2,757 to €0
- Depreciation -€747
down €747 (-11.8%), from €6,341 to €5,594
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 | €56,239 | €48,556 | -€7,684 | -13.7% |
| Fixed assets | 21/28 | €11,433 | €10,365 | -€1,069 | -9.3% |
| Tangible fixed assets | 22/27 | €11,433 | €10,365 | -€1,069 | -9.3% |
| Plant, machinery and equipment | 23 | €11,433 | €10,365 | -€1,069 | -9.3% |
| Current assets | 29/58 | €44,806 | €38,191 | -€6,615 | -14.8% |
| Stocks and contracts in progress | 3 | €7,612 | €8,337 | +€724 | +9.5% |
| Stocks | 30/36 | €7,612 | €8,337 | +€724 | +9.5% |
| Amounts receivable within one year | 40/41 | €2,239 | €3,866 | +€1,626 | +72.6% |
| Trade receivables | 40 | €1,637 | €3,060 | +€1,423 | +86.9% |
| Other amounts receivable | 41 | €602 | €806 | +€203 | +33.7% |
| Cash at bank and in hand | 54/58 | €32,908 | €23,816 | -€9,092 | -27.6% |
| Deferred charges and accrued income | 490/1 | €2,047 | €2,173 | +€126 | +6.2% |
| Total equity and liabilities | 10/49 | €56,239 | €48,556 | -€7,684 | -13.7% |
| Equity | 10/15 | €29,496 | €29,626 | +€130 | +0.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €26,996 | €27,126 | +€130 | +0.5% |
| Distributable reserves | 133 | €26,996 | €27,126 | +€130 | +0.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €26,743 | €18,929 | -€7,814 | -29.2% |
| Amounts payable within one year | 42/48 | €26,743 | €18,929 | -€7,814 | -29.2% |
| Trade debts | 44 | €15,360 | €9,473 | -€5,887 | -38.3% |
| Suppliers | 440/4 | €15,360 | €9,473 | -€5,887 | -38.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €8,097 | €3,445 | -€4,651 | -57.4% |
| Taxes | 450/3 | €8,097 | €3,445 | -€4,651 | -57.4% |
| Other amounts payable | 47/48 | €3,286 | €6,011 | +€2,724 | +82.9% |
| Remuneration, social security and pensions | 62 | €2,757 | €0 | -€2,757 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,341 | €5,594 | -€747 | -11.8% |
| Other operating charges | 640/8 | €160 | €374 | +€214 | +134% |
| Gross operating margin | 9900 | €43,980 | €40,782 | -€3,198 | -7.3% |
| Operating profit (loss) | 9901 | €34,724 | €34,814 | +€91 | +0.3% |
| Financial income | 75/76B | €72 | €45 | -€27 | -38.1% |
| Recurring financial income | 75 | €72 | €45 | -€27 | -38.1% |
| Financial charges | 65/66B | €896 | €794 | -€102 | -11.4% |
| Recurring financial charges | 65 | €896 | €794 | -€102 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €33,899 | €34,065 | +€165 | +0.5% |
| Income taxes | 67/77 | €6,903 | €6,938 | +€35 | +0.5% |
| Profit (loss) for the period | 9904 | €26,996 | €27,126 | +€130 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,996 | €27,126 | +€130 | +0.5% |
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.