WH2: what changed
Two fiscal 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.
WH2
Largest movements
- Financial fixed assets -€513,946
down €513,946 (-30.9%), from €1.7m to €1.1m
- Debts after one year -€628,552
down €628,552 (-40.1%), from €1.6m to €937,014
- Reserves +€77,383
up €77,383, from €0 to €77,383
of which Distributable reserves: +€77,383
- Trade debts +€24,137
up €24,137, from €0 to €24,137
- Financial income +€91,280
up €91,280 (+463351.8%), from €20 to €91,300
of which Financial income: +€91,280
- Financial charges +€30,224
up €30,224 (+99.6%), from €30,347 to €60,572
of which Non-recurring financial charges: +€16,074
- Gross operating margin +€20,204
up €20,204 (+60.9%), from €33,166 to €53,369
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.
Cash bridge derived
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 | €1,701,788 | €1,187,978 | -€513,810 | -30.2% |
| Fixed assets | 21/28 | €1,662,061 | €1,148,115 | -€513,946 | -30.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €1,662,061 | €1,148,115 | -€513,946 | -30.9% |
| Current assets | 29/58 | €39,726 | €39,862 | +€136 | +0.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,722 | €13,706 | +€10,984 | +403.5% |
| Trade receivables | 40 | €2,722 | €13,706 | +€10,984 | +403.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €37,004 | €26,157 | -€10,848 | -29.3% |
| Total equity and liabilities | 10/49 | €1,701,788 | €1,187,978 | -€513,810 | -30.2% |
| Equity | 10/15 | €130,126 | €207,509 | +€77,383 | +59.5% |
| Contributions | 10/11 | €130,126 | €130,126 | = | 0.0% |
| Reserves | 13 | €0 | €77,383 | +€77,383 | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | - | €77,383 | +€77,383 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,571,661 | €980,468 | -€591,193 | -37.6% |
| Amounts payable after more than one year | 17 | €1,565,566 | €937,014 | -€628,552 | -40.1% |
| Other amounts payable | 178/9 | €1,565,566 | €937,014 | -€628,552 | -40.1% |
| Amounts payable within one year | 42/48 | €6,095 | €43,454 | +€37,359 | +612.9% |
| Trade debts | 44 | €0 | €24,137 | +€24,137 | |
| Suppliers | 440/4 | €0 | €24,137 | +€24,137 | |
| Taxes, remuneration and social security | 45 | €6,095 | €13,317 | +€7,222 | +118.5% |
| Taxes | 450/3 | €6,095 | €13,317 | +€7,222 | +118.5% |
| Other amounts payable | 47/48 | - | €6,000 | +€6,000 | |
| Non-recurring operating income | 76A | €184 | €0 | -€184 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €406 | €574 | +€168 | +41.4% |
| Non-recurring operating charges | 66A | €4,901 | €0 | -€4,901 | -100.0% |
| Gross operating margin | 9900 | €33,166 | €53,369 | +€20,204 | +60.9% |
| Operating profit (loss) | 9901 | €27,858 | €52,795 | +€24,937 | +89.5% |
| Financial income | 75/76B | €20 | €91,300 | +€91,280 | +463351.8% |
| Recurring financial income | 75 | €20 | €91,300 | +€91,280 | +463351.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €30,347 | €60,572 | +€30,224 | +99.6% |
| Recurring financial charges | 65 | €30,347 | €44,498 | +€14,150 | +46.6% |
| Non-recurring financial charges | 66B | - | €16,074 | +€16,074 | |
| Profit (loss) for the period before taxes | 9903 | -€2,469 | €83,523 | +€85,993 | |
| Income taxes | 67/77 | €0 | €140 | +€140 | |
| Profit (loss) for the period | 9904 | -€2,469 | €83,383 | +€85,852 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,469 | €83,383 | +€85,852 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.