WH GROUP: 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 GROUP
Largest movements
- Cash -€23,302
down €23,302 (-61.5%), from €37,897 to €14,595
mainly Other debts (-€75,770) and Investment in fixed assets (net) (-€28,436)
- Receivables within one year -€8,965
down €8,965 (-22.2%), from €40,461 to €31,495
of which Trade receivables: -€10,732
- Deferred charges and accrued income -€3,995
down €3,995 (-93.4%), from €4,278 to €283
- Other debts -€75,770
down €75,770 (-85.1%), from €89,071 to €13,301
- Reserves +€41,643
up €41,643 (+35.9%), from €116,007 to €157,650
- Trade debts -€2,939
down €2,939 (-43.9%), from €6,693 to €3,754
- Gross operating margin +€33,089
up €33,089 (+56.4%), from €58,620 to €91,708
- Taxes +€8,933
up €8,933 (+88.3%), from €10,122 to €19,055
- Depreciation +€1,995
up €1,995 (+7.3%), from €27,208 to €29,203
- Financial charges +€1,010
new in 2025: €1,010
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 | €230,452 | €193,422 | -€37,030 | -16.1% |
| Fixed assets | 21/28 | €147,816 | €147,049 | -€767 | -0.5% |
| Tangible fixed assets | 22/27 | €147,816 | €147,049 | -€767 | -0.5% |
| Land and buildings | 22 | €83,077 | €87,987 | +€4,910 | +5.9% |
| Plant, machinery and equipment | 23 | €4,591 | €8,430 | +€3,839 | +83.6% |
| Furniture and vehicles | 24 | €60,148 | €50,631 | -€9,516 | -15.8% |
| Current assets | 29/58 | €82,636 | €46,374 | -€36,263 | -43.9% |
| Amounts receivable within one year | 40/41 | €40,461 | €31,495 | -€8,965 | -22.2% |
| Trade receivables | 40 | €14,640 | €3,908 | -€10,732 | -73.3% |
| Other amounts receivable | 41 | €25,821 | €27,588 | +€1,767 | +6.8% |
| Cash at bank and in hand | 54/58 | €37,897 | €14,595 | -€23,302 | -61.5% |
| Deferred charges and accrued income | 490/1 | €4,278 | €283 | -€3,995 | -93.4% |
| Total equity and liabilities | 10/49 | €230,452 | €193,422 | -€37,030 | -16.1% |
| Equity | 10/15 | €134,607 | €176,250 | +€41,643 | +30.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €116,007 | €157,650 | +€41,643 | +35.9% |
| Distributable reserves | 133 | €116,007 | €157,650 | +€41,643 | +35.9% |
| Amounts payable | 17/49 | €95,845 | €17,172 | -€78,673 | -82.1% |
| Amounts payable within one year | 42/48 | €95,845 | €17,172 | -€78,673 | -82.1% |
| Trade debts | 44 | €6,693 | €3,754 | -€2,939 | -43.9% |
| Suppliers | 440/4 | €6,693 | €3,754 | -€2,939 | -43.9% |
| Taxes, remuneration and social security | 45 | €81 | €117 | +€36 | +44.7% |
| Taxes | 450/3 | €81 | €117 | +€36 | +44.7% |
| Other amounts payable | 47/48 | €89,071 | €13,301 | -€75,770 | -85.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,208 | €29,203 | +€1,995 | +7.3% |
| Other operating charges | 640/8 | €837 | €797 | -€40 | -4.8% |
| Gross operating margin | 9900 | €58,620 | €91,708 | +€33,089 | +56.4% |
| Operating profit (loss) | 9901 | €30,574 | €61,708 | +€31,134 | +102% |
| Financial income | 75/76B | €43 | €0 | -€43 | -100% |
| Recurring financial income | 75 | €43 | €0 | -€43 | -100% |
| Financial charges | 65/66B | - | €1,010 | +€1,010 | |
| Recurring financial charges | 65 | - | €1,010 | +€1,010 | |
| Profit (loss) for the period before taxes | 9903 | €30,617 | €60,698 | +€30,081 | +98.2% |
| Income taxes | 67/77 | €10,122 | €19,055 | +€8,933 | +88.3% |
| Profit (loss) for the period | 9904 | €20,495 | €41,643 | +€21,148 | +103% |
| Profit (loss) for the period to be appropriated | 9905 | €20,495 | €41,643 | +€21,148 | +103% |
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.