WIDHO MONTAGE: 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.
WIDHO MONTAGE
Largest movements
- Tangible fixed assets +€399,815
up €399,815 (+2,796%), from €14,300 to €414,115
of which Land and buildings: +€391,334
- Current investments +€60,298
up €60,298 (+92.7%), from €65,028 to €125,326
- Receivables within one year +€12,841
up €12,841 (+142%), from €9,030 to €21,871
of which Other amounts receivable: +€14,983
- Cash -€8,382
down €8,382 (-24.8%), from €33,741 to €25,359
mainly Investment in fixed assets (net) (-€411,038) and Current investments (-€60,298)
- Debts after one year +€276,352
up €276,352 (+3,545%), from €7,795 to €284,147
- Reserves +€167,001
new in 2025: €167,001
- Profit (loss) carried forward -€80,597
no longer reported in 2025 (was €80,597)
- Short-term financial debts +€65,000
new in 2025: €65,000
- Accrued charges and deferred income +€23,232
up €23,232 (+2,068%), from €1,123 to €24,355
- Gross operating margin +€25,346
up €25,346 (+24.2%), from €104,595 to €129,941
- Other operating charges +€8,829
up €8,829 (+2,225%), from €397 to €9,226
- Depreciation +€8,259
up €8,259 (+279%), from €2,964 to €11,223
- Financial charges +€7,117
up €7,117 (+1,059%), from €672 to €7,790
- Taxes -€4,192
down €4,192 (-20.9%), from €20,012 to €15,820
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 | €124,215 | €596,194 | +€471,980 | +380% |
| Fixed assets | 21/28 | €14,300 | €414,115 | +€399,815 | +2,796% |
| Tangible fixed assets | 22/27 | €14,300 | €414,115 | +€399,815 | +2,796% |
| Land and buildings | 22 | - | €391,334 | +€391,334 | |
| Plant, machinery and equipment | 23 | - | €9,059 | +€9,059 | |
| Furniture and vehicles | 24 | - | €5,177 | +€5,177 | |
| Leasing and similar rights | 25 | €14,300 | €8,545 | -€5,755 | -40.2% |
| Current assets | 29/58 | €109,915 | €182,079 | +€72,164 | +65.7% |
| Stocks and contracts in progress | 3 | - | €1,556 | +€1,556 | |
| Stocks | 30/36 | - | €1,556 | +€1,556 | |
| Amounts receivable within one year | 40/41 | €9,030 | €21,871 | +€12,841 | +142% |
| Trade receivables | 40 | €4,823 | €2,681 | -€2,142 | -44.4% |
| Other amounts receivable | 41 | €4,207 | €19,190 | +€14,983 | +356% |
| Current investments | 50/53 | €65,028 | €125,326 | +€60,298 | +92.7% |
| Cash at bank and in hand | 54/58 | €33,741 | €25,359 | -€8,382 | -24.8% |
| Deferred charges and accrued income | 490/1 | €2,115 | €7,966 | +€5,851 | +277% |
| Total equity and liabilities | 10/49 | €124,215 | €596,194 | +€471,980 | +380% |
| Equity | 10/15 | €100,597 | €187,001 | +€86,404 | +85.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €167,001 | +€167,001 | |
| Distributable reserves | 133 | - | €167,001 | +€167,001 | |
| Profit (loss) carried forward | 14 | €80,597 | - | -€80,597 | |
| Amounts payable | 17/49 | €23,617 | €409,193 | +€385,576 | +1,633% |
| Amounts payable after more than one year | 17 | €7,795 | €284,147 | +€276,352 | +3,545% |
| Financial debts | 170/4 | €7,795 | €284,147 | +€276,352 | +3,545% |
| Amounts payable within one year | 42/48 | €14,699 | €100,692 | +€85,992 | +585% |
| Current portion of amounts payable after more than one year | 42 | €4,739 | €19,980 | +€15,241 | +322% |
| Financial debts | 43 | - | €65,000 | +€65,000 | |
| Other loans | 439 | - | €65,000 | +€65,000 | |
| Trade debts | 44 | - | €12,650 | +€12,650 | |
| Suppliers | 440/4 | - | €12,650 | +€12,650 | |
| Taxes, remuneration and social security | 45 | €7,970 | €2,882 | -€5,087 | -63.8% |
| Taxes | 450/3 | €7,970 | €2,882 | -€5,087 | -63.8% |
| Other amounts payable | 47/48 | €1,991 | €179 | -€1,811 | -91.0% |
| Accrued charges and deferred income | 492/3 | €1,123 | €24,355 | +€23,232 | +2,068% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,964 | €11,223 | +€8,259 | +279% |
| Other operating charges | 640/8 | €397 | €9,226 | +€8,829 | +2,225% |
| Gross operating margin | 9900 | €104,595 | €129,941 | +€25,346 | +24.2% |
| Operating profit (loss) | 9901 | €101,235 | €109,492 | +€8,258 | +8.2% |
| Financial income | 75/76B | €47 | €521 | +€474 | +1,005% |
| Recurring financial income | 75 | €47 | €521 | +€474 | +1,005% |
| Financial charges | 65/66B | €672 | €7,790 | +€7,117 | +1,059% |
| Recurring financial charges | 65 | €672 | €7,790 | +€7,117 | +1,059% |
| Profit (loss) for the period before taxes | 9903 | €100,609 | €102,223 | +€1,614 | +1.6% |
| Income taxes | 67/77 | €20,012 | €15,820 | -€4,192 | -20.9% |
| Profit (loss) for the period | 9904 | €80,597 | €86,404 | +€5,806 | +7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €80,597 | €86,404 | +€5,806 | +7.2% |
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 31 October 2026 via checked.be.