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
- Tangible fixed assets -€13,641
down €13,641 (-23.4%), from €58,199 to €44,558
of which Furniture and vehicles: -€11,741
- Cash -€8,027
down €8,027 (-3.4%), from €234,393 to €226,366
mainly Contributions, distributions and other (-€51,974) and Tax, wage and social debts (-€11,367)
- Other debts +€49,955
up €49,955 (+112%), from €44,739 to €94,694
- Reserves -€49,716
down €49,716 (-22.0%), from €225,719 to €176,004
- Tax, wage and social debts -€11,367
down €11,367 (-68.5%), from €16,592 to €5,225
- Current portion of long-term debt -€9,680
down €9,680 (-100%), from €9,680 to €0
- Gross operating margin -€30,632
down €30,632 (-64.1%), from €47,804 to €17,173
- Depreciation +€10,160
up €10,160 (+292%), from €3,481 to €13,641
- Taxes -€9,615
down €9,615 (-89.7%), from €10,719 to €1,104
- Financial charges -€1,798
down €1,798 (-87.8%), from €2,048 to €250
- Financial income -€979
down €979 (-62.0%), from €1,579 to €601
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 | €317,648 | €298,088 | -€19,560 | -6.2% |
| Fixed assets | 21/28 | €58,199 | €44,558 | -€13,641 | -23.4% |
| Tangible fixed assets | 22/27 | €58,199 | €44,558 | -€13,641 | -23.4% |
| Plant, machinery and equipment | 23 | €1,900 | €0 | -€1,900 | -100% |
| Furniture and vehicles | 24 | €56,299 | €44,558 | -€11,741 | -20.9% |
| Current assets | 29/58 | €259,449 | €253,530 | -€5,919 | -2.3% |
| Amounts receivable within one year | 40/41 | €23,625 | €25,324 | +€1,700 | +7.2% |
| Trade receivables | 40 | €704 | €8,820 | +€8,116 | +1,152% |
| Other amounts receivable | 41 | €22,920 | €16,504 | -€6,416 | -28.0% |
| Cash at bank and in hand | 54/58 | €234,393 | €226,366 | -€8,027 | -3.4% |
| Deferred charges and accrued income | 490/1 | €1,431 | €1,840 | +€409 | +28.6% |
| Total equity and liabilities | 10/49 | €317,648 | €298,088 | -€19,560 | -6.2% |
| Equity | 10/15 | €244,319 | €194,604 | -€49,716 | -20.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €225,719 | €176,004 | -€49,716 | -22.0% |
| Distributable reserves | 133 | €225,719 | €176,004 | -€49,716 | -22.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €73,329 | €103,485 | +€30,156 | +41.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €71,674 | €103,485 | +€31,811 | +44.4% |
| Current portion of amounts payable after more than one year | 42 | €9,680 | €0 | -€9,680 | -100% |
| Trade debts | 44 | €662 | €3,566 | +€2,903 | +439% |
| Suppliers | 440/4 | €662 | €3,566 | +€2,903 | +439% |
| Taxes, remuneration and social security | 45 | €16,592 | €5,225 | -€11,367 | -68.5% |
| Taxes | 450/3 | €16,592 | €5,225 | -€11,367 | -68.5% |
| Other amounts payable | 47/48 | €44,739 | €94,694 | +€49,955 | +112% |
| Accrued charges and deferred income | 492/3 | €1,655 | €0 | -€1,655 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,481 | €13,641 | +€10,160 | +292% |
| Other operating charges | 640/8 | €998 | €520 | -€478 | -47.9% |
| Non-recurring operating charges | 66A | €7,660 | €0 | -€7,660 | -100% |
| Gross operating margin | 9900 | €47,804 | €17,173 | -€30,632 | -64.1% |
| Operating profit (loss) | 9901 | €35,665 | €3,012 | -€32,654 | -91.6% |
| Financial income | 75/76B | €1,579 | €601 | -€979 | -62.0% |
| Recurring financial income | 75 | €1,579 | €601 | -€979 | -62.0% |
| Financial charges | 65/66B | €2,048 | €250 | -€1,798 | -87.8% |
| Recurring financial charges | 65 | €2,048 | €250 | -€1,798 | -87.8% |
| Profit (loss) for the period before taxes | 9903 | €35,197 | €3,362 | -€31,834 | -90.4% |
| Income taxes | 67/77 | €10,719 | €1,104 | -€9,615 | -89.7% |
| Profit (loss) for the period | 9904 | €24,477 | €2,259 | -€22,219 | -90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,477 | €2,259 | -€22,219 | -90.8% |
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 16 October 2026 via checked.be.