WHISE: 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.
WHISE
Largest movements
- Receivables within one year -€115,806
down €115,806 (-15.6%), from €741,555 to €625,750
of which Trade receivables: -€115,101
- Deferred charges and accrued income +€51,342
up €51,342 (+300.7%), from €17,073 to €68,414
- Intangible fixed assets +€50,103
up €50,103 (+3.7%), from €1.3m to €1.4m
- Cash -€47,825
down €47,825 (-20.6%), from €231,797 to €183,971
mainly Investment in fixed assets (net) (-€622,102) and Short-term financial debts (-€75,000)
- Short-term financial debts -€75,000
down €75,000 (-23.1%), from €325,000 to €250,000
- Debts after one year -€61,842
down €61,842 (-10.5%), from €588,757 to €526,915
- Trade debts +€57,349
up €57,349 (+11.7%), from €491,638 to €548,987
- Accrued charges and deferred income +€45,659
up €45,659 (+16.8%), from €271,552 to €317,210
- Current portion of long-term debt -€40,612
down €40,612 (-19.8%), from €205,174 to €164,562
- Gross operating margin +€125,458
up €125,458 (+6.7%), from €1.9m to €2.0m
- Staff costs +€71,950
up €71,950 (+5.6%), from €1.3m to €1.4m
- Depreciation +€70,727
up €70,727 (+14.2%), from €497,458 to €568,184
- Provisions +€25,000
new in 2025: €25,000
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 | €2,365,939 | €2,307,567 | -€58,372 | -2.5% |
| Fixed assets | 21/28 | €1,375,515 | €1,429,432 | +€53,917 | +3.9% |
| Intangible fixed assets | 21 | €1,342,933 | €1,393,035 | +€50,103 | +3.7% |
| Tangible fixed assets | 22/27 | €27,334 | €34,145 | +€6,812 | +24.9% |
| Plant, machinery and equipment | 23 | €22,848 | €17,589 | -€5,259 | -23.0% |
| Furniture and vehicles | 24 | €2,736 | €16,407 | +€13,670 | +499.6% |
| Other tangible fixed assets | 26 | €1,749 | €150 | -€1,599 | -91.5% |
| Financial fixed assets | 28 | €5,248 | €2,251 | -€2,997 | -57.1% |
| Current assets | 29/58 | €990,425 | €878,135 | -€112,289 | -11.3% |
| Amounts receivable within one year | 40/41 | €741,555 | €625,750 | -€115,806 | -15.6% |
| Trade receivables | 40 | €737,231 | €622,130 | -€115,101 | -15.6% |
| Other amounts receivable | 41 | €4,325 | €3,620 | -€705 | -16.3% |
| Cash at bank and in hand | 54/58 | €231,797 | €183,971 | -€47,825 | -20.6% |
| Deferred charges and accrued income | 490/1 | €17,073 | €68,414 | +€51,342 | +300.7% |
| Total equity and liabilities | 10/49 | €2,365,939 | €2,307,567 | -€58,372 | -2.5% |
| Equity | 10/15 | €292,517 | €273,989 | -€18,528 | -6.3% |
| Contributions | 10/11 | €261,973 | €270,000 | +€8,027 | +3.1% |
| Capital | 10 | €261,973 | €270,000 | +€8,027 | +3.1% |
| Issued capital | 100 | €261,973 | €270,000 | +€8,027 | +3.1% |
| Reserves | 13 | €26,200 | €27,000 | +€800 | +3.1% |
| Non-distributable reserves | 130/1 | €26,200 | €27,000 | +€800 | +3.1% |
| Legal reserve | 130 | €26,200 | €27,000 | +€800 | +3.1% |
| Profit (loss) carried forward | 14 | €4,344 | -€23,011 | -€27,354 | |
| Provisions and deferred taxes | 16 | - | €25,000 | +€25,000 | |
| Provisions for liabilities and charges | 160/5 | - | €25,000 | +€25,000 | |
| Other liabilities and charges | 164/5 | - | €25,000 | +€25,000 | |
| Amounts payable | 17/49 | €2,073,422 | €2,008,578 | -€64,844 | -3.1% |
| Amounts payable after more than one year | 17 | €588,757 | €526,915 | -€61,842 | -10.5% |
| Financial debts | 170/4 | €588,757 | €526,915 | -€61,842 | -10.5% |
| Amounts payable within one year | 42/48 | €1,213,113 | €1,164,452 | -€48,661 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €205,174 | €164,562 | -€40,612 | -19.8% |
| Financial debts | 43 | €325,000 | €250,000 | -€75,000 | -23.1% |
| Credit institutions | 430/8 | €325,000 | €250,000 | -€75,000 | -23.1% |
| Trade debts | 44 | €491,638 | €548,987 | +€57,349 | +11.7% |
| Suppliers | 440/4 | €491,638 | €548,987 | +€57,349 | +11.7% |
| Taxes, remuneration and social security | 45 | €180,567 | €199,943 | +€19,376 | +10.7% |
| Taxes | 450/3 | €64,452 | €61,411 | -€3,041 | -4.7% |
| Remuneration and social security | 454/9 | €116,114 | €138,531 | +€22,417 | +19.3% |
| Other amounts payable | 47/48 | €10,735 | €961 | -€9,774 | -91.1% |
| Accrued charges and deferred income | 492/3 | €271,552 | €317,210 | +€45,659 | +16.8% |
| Remuneration, social security and pensions | 62 | €1,284,742 | €1,356,692 | +€71,950 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €497,458 | €568,184 | +€70,727 | +14.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €25,000 | +€25,000 | |
| Other operating charges | 640/8 | €2,997 | €5 | -€2,992 | -99.8% |
| Gross operating margin | 9900 | €1,884,775 | €2,010,233 | +€125,458 | +6.7% |
| Operating profit (loss) | 9901 | €99,578 | €60,351 | -€39,226 | -39.4% |
| Financial income | 75/76B | - | €126 | +€126 | |
| Recurring financial income | 75 | - | €126 | +€126 | |
| Financial charges | 65/66B | €83,706 | €85,819 | +€2,113 | +2.5% |
| Recurring financial charges | 65 | €83,706 | €85,819 | +€2,113 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €15,871 | -€25,342 | -€41,213 | |
| Income taxes | 67/77 | €1,907 | €1,213 | -€694 | -36.4% |
| Profit (loss) for the period | 9904 | €13,965 | -€26,554 | -€40,519 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,965 | -€26,554 | -€40,519 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.