WHM: what changed
WHM
Largest movements
- Receivables within one year +€134,204
up €134,204 (+32.1%), from €417,667 to €551,871
of which Other amounts receivable: +€142,388
- Cash -€127,603
down €127,603 (-88.9%), from €143,606 to €16,003
mainly Receivables within one year (-€134,204) and Net result for the year (-€115,319)
- Tangible fixed assets -€43,175
down €43,175 (-28.5%), from €151,451 to €108,276
of which Furniture and vehicles: -€42,447
- Trade debts +€123,338
up €123,338 (+43.9%), from €280,788 to €404,126
- Profit (loss) carried forward -€115,319
down €115,319 (-98.1%), from €117,521 to €2,202
- Debts after one year -€24,842
down €24,842 (-27.9%), from €89,105 to €64,263
- Accrued charges and deferred income -€13,001
no longer reported in 2025 (was €13,001)
- Tax, wage and social debts -€7,760
down €7,760 (-19.8%), from €39,204 to €31,444
of which Remuneration and social security: -€4,184
- Gross operating margin -€264,119
down €264,119, from €213,420 to -€50,699
- Write-downs -€79,972
no longer reported in 2025 (was €79,972)
- Taxes -€30,360
down €30,360 (-99.0%), from €30,664 to €304
- Other operating charges +€6,622
up €6,622 (+121%), from €5,472 to €12,094
- Depreciation +€3,923
up €3,923 (+9.5%), from €41,456 to €45,379
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €714,424 | €676,150 | -€38,275 | -5.4% |
| Fixed assets | 21/28 | €151,451 | €108,276 | -€43,175 | -28.5% |
| Tangible fixed assets | 22/27 | €151,451 | €108,276 | -€43,175 | -28.5% |
| Plant, machinery and equipment | 23 | €2,148 | €1,420 | -€728 | -33.9% |
| Furniture and vehicles | 24 | €149,302 | €106,856 | -€42,447 | -28.4% |
| Current assets | 29/58 | €562,974 | €567,874 | +€4,900 | +0.9% |
| Amounts receivable within one year | 40/41 | €417,667 | €551,871 | +€134,204 | +32.1% |
| Trade receivables | 40 | €256,066 | €247,882 | -€8,184 | -3.2% |
| Other amounts receivable | 41 | €161,600 | €303,989 | +€142,388 | +88.1% |
| Cash at bank and in hand | 54/58 | €143,606 | €16,003 | -€127,603 | -88.9% |
| Deferred charges and accrued income | 490/1 | €1,701 | - | -€1,701 | |
| Total equity and liabilities | 10/49 | €714,424 | €676,150 | -€38,275 | -5.4% |
| Equity | 10/15 | €125,581 | €10,262 | -€115,319 | -91.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,521 | €2,202 | -€115,319 | -98.1% |
| Amounts payable | 17/49 | €588,843 | €665,888 | +€77,044 | +13.1% |
| Amounts payable after more than one year | 17 | €89,105 | €64,263 | -€24,842 | -27.9% |
| Financial debts | 170/4 | €89,105 | €64,263 | -€24,842 | -27.9% |
| Amounts payable within one year | 42/48 | €486,737 | €601,625 | +€114,888 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €24,489 | €24,842 | +€353 | +1.4% |
| Financial debts | 43 | €1,043 | - | -€1,043 | |
| Credit institutions | 430/8 | €1,043 | - | -€1,043 | |
| Trade debts | 44 | €280,788 | €404,126 | +€123,338 | +43.9% |
| Suppliers | 440/4 | €280,788 | €404,126 | +€123,338 | +43.9% |
| Taxes, remuneration and social security | 45 | €39,204 | €31,444 | -€7,760 | -19.8% |
| Taxes | 450/3 | €35,019 | €31,444 | -€3,576 | -10.2% |
| Remuneration and social security | 454/9 | €4,184 | - | -€4,184 | |
| Other amounts payable | 47/48 | €141,213 | €141,213 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €13,001 | - | -€13,001 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,456 | €45,379 | +€3,923 | +9.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €79,972 | - | -€79,972 | |
| Other operating charges | 640/8 | €5,472 | €12,094 | +€6,622 | +121% |
| Gross operating margin | 9900 | €213,420 | -€50,699 | -€264,119 | |
| Operating profit (loss) | 9901 | €86,520 | -€108,172 | -€194,692 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €6,000 | €6,844 | +€845 | +14.1% |
| Recurring financial charges | 65 | €6,000 | €6,844 | +€845 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | €80,520 | -€115,015 | -€195,536 | |
| Income taxes | 67/77 | €30,664 | €304 | -€30,360 | -99.0% |
| Profit (loss) for the period | 9904 | €49,857 | -€115,319 | -€165,176 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,857 | -€115,319 | -€165,176 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.