WHC LABS: 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.
WHC LABS
Largest movements
- Current investments +€12.5m
new in 2025: €12.5m
- Cash -€3.9m
down €3.9m (-59.9%), from €6.5m to €2.6m
mainly Current investments (-€12.5m) and Contributions, distributions and other (-€2.4m)
- Stocks and contracts -€2.9m
down €2.9m (-44.2%), from €6.5m to €3.7m
- Receivables within one year +€956,464
up €956,464 (+158%), from €606,468 to €1.6m
of which Trade receivables: +€587,862
- Receivables after one year +€429,000
up €429,000 (+260%), from €165,000 to €594,000
- Profit (loss) carried forward +€4.8m
up €4.8m (+48.7%), from €9.9m to €14.8m
- Reserves +€997,770
up €997,770 (+99.8%), from €999,770 to €2.0m
of which Tax-exempt reserves: +€997,770
- Other debts +€937,000
up €937,000 (+125%), from €750,000 to €1.7m
- Trade debts +€710,401
up €710,401 (+35.7%), from €2.0m to €2.7m
- Tax, wage and social debts -€323,746
down €323,746 (-97.7%), from €331,337 to €7,592
of which Taxes: -€322,125
- Gross operating margin +€2.8m
up €2.8m (+35.9%), from €7.9m to €10.7m
- Taxes +€522,842
up €522,842 (+37.0%), from €1.4m to €1.9m
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 | €14,018,774 | €21,180,693 | +€7.2m | +51.1% |
| Fixed assets | 21/28 | €116,335 | €167,662 | +€51,327 | +44.1% |
| Intangible fixed assets | 21 | €11,909 | €9,047 | -€2,862 | -24.0% |
| Tangible fixed assets | 22/27 | €91,392 | €135,581 | +€44,189 | +48.4% |
| Plant, machinery and equipment | 23 | €9,763 | €21,324 | +€11,562 | +118% |
| Furniture and vehicles | 24 | €23,593 | €30,196 | +€6,603 | +28.0% |
| Other tangible fixed assets | 26 | €58,036 | €84,060 | +€26,024 | +44.8% |
| Financial fixed assets | 28 | €13,033 | €23,033 | +€10,000 | +76.7% |
| Current assets | 29/58 | €13,902,439 | €21,013,031 | +€7.1m | +51.1% |
| Amounts receivable after more than one year | 29 | €165,000 | €594,000 | +€429,000 | +260% |
| Other amounts receivable | 291 | €165,000 | €594,000 | +€429,000 | +260% |
| Stocks and contracts in progress | 3 | €6,538,492 | €3,650,386 | -€2.9m | -44.2% |
| Stocks | 30/36 | €6,538,492 | €3,650,386 | -€2.9m | -44.2% |
| Amounts receivable within one year | 40/41 | €606,468 | €1,562,932 | +€956,464 | +158% |
| Trade receivables | 40 | €368,096 | €955,958 | +€587,862 | +160% |
| Other amounts receivable | 41 | €238,372 | €606,974 | +€368,601 | +155% |
| Current investments | 50/53 | - | €12,503,452 | +€12.5m | |
| Cash at bank and in hand | 54/58 | €6,544,921 | €2,627,055 | -€3.9m | -59.9% |
| Deferred charges and accrued income | 490/1 | €47,558 | €75,207 | +€27,649 | +58.1% |
| Total equity and liabilities | 10/49 | €14,018,774 | €21,180,693 | +€7.2m | +51.1% |
| Equity | 10/15 | €10,947,326 | €16,784,455 | +€5.8m | +53.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €999,770 | €1,997,540 | +€997,770 | +99.8% |
| Tax-exempt reserves | 132 | €997,770 | €1,995,540 | +€997,770 | +100% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,927,556 | €14,766,915 | +€4.8m | +48.7% |
| Amounts payable | 17/49 | €3,071,448 | €4,396,238 | +€1.3m | +43.1% |
| Amounts payable within one year | 42/48 | €3,071,448 | €4,395,103 | +€1.3m | +43.1% |
| Trade debts | 44 | €1,990,110 | €2,700,512 | +€710,401 | +35.7% |
| Suppliers | 440/4 | €1,990,110 | €2,700,512 | +€710,401 | +35.7% |
| Taxes, remuneration and social security | 45 | €331,337 | €7,592 | -€323,746 | -97.7% |
| Taxes | 450/3 | €322,125 | - | -€322,125 | |
| Remuneration and social security | 454/9 | €9,212 | €7,592 | -€1,621 | -17.6% |
| Other amounts payable | 47/48 | €750,000 | €1,687,000 | +€937,000 | +125% |
| Accrued charges and deferred income | 492/3 | - | €1,135 | +€1,135 | |
| Remuneration, social security and pensions | 62 | €49,563 | €53,880 | +€4,318 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,838 | €29,316 | +€7,477 | +34.2% |
| Other operating charges | 640/8 | €10,160 | €9,967 | -€193 | -1.9% |
| Gross operating margin | 9900 | €7,889,111 | €10,720,646 | +€2.8m | +35.9% |
| Operating profit (loss) | 9901 | €7,807,550 | €10,627,482 | +€2.8m | +36.1% |
| Financial income | 75/76B | €72,055 | €120,411 | +€48,356 | +67.1% |
| Recurring financial income | 75 | €72,055 | €120,411 | +€48,356 | +67.1% |
| Financial charges | 65/66B | €665,388 | €601,160 | -€64,229 | -9.7% |
| Recurring financial charges | 65 | €665,388 | €601,160 | -€64,229 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €7,214,216 | €10,146,734 | +€2.9m | +40.6% |
| Income taxes | 67/77 | €1,411,763 | €1,934,605 | +€522,842 | +37.0% |
| Profit (loss) for the period | 9904 | €5,802,453 | €8,212,128 | +€2.4m | +41.5% |
| Transfer to tax-exempt reserves | 689 | €997,770 | €997,770 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,804,683 | €7,214,358 | +€2.4m | +50.2% |
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.