WIM BAX: 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.
WIM BAX
Largest movements
- Deferred charges and accrued income -€46,691
down €46,691 (-100.0%), from €46,697 to €7
- Cash -€44,839
down €44,839 (-49.0%), from €91,558 to €46,719
mainly Debts after one year (-€116,684) and Trade debts (-€85,443)
- Tangible fixed assets -€44,171
down €44,171 (-4.5%), from €990,179 to €946,008
- Receivables within one year +€43,893
up €43,893 (+39.7%), from €110,427 to €154,321
of which Trade receivables: +€45,159
- Debts after one year -€116,684
down €116,684 (-11.8%), from €990,821 to €874,137
- Reserves +€100,770
up €100,770 (+34.5%), from €292,395 to €393,165
of which Distributable reserves: +€100,770
- Trade debts -€85,443
down €85,443 (-56.0%), from €152,628 to €67,185
- Tax, wage and social debts +€21,980
up €21,980 (+39.8%), from €55,171 to €77,151
of which Taxes: +€26,486
- Gross operating margin +€65,420
up €65,420 (+19.7%), from €331,384 to €396,804
- Taxes +€20,587
up €20,587 (+89.0%), from €23,127 to €43,714
- Financial charges -€11,729
down €11,729 (-24.9%), from €47,170 to €35,441
- Depreciation +€5,339
up €5,339 (+7.7%), from €69,059 to €74,398
- Staff costs +€4,834
up €4,834 (+3.9%), from €123,763 to €128,597
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 | €1,676,595 | €1,584,446 | -€92,148 | -5.5% |
| Fixed assets | 21/28 | €990,179 | €946,008 | -€44,171 | -4.5% |
| Tangible fixed assets | 22/27 | €990,179 | €946,008 | -€44,171 | -4.5% |
| Land and buildings | 22 | €857,582 | €839,633 | -€17,949 | -2.1% |
| Plant, machinery and equipment | 23 | €6,903 | €7,785 | +€882 | +12.8% |
| Furniture and vehicles | 24 | €7,879 | €6,296 | -€1,583 | -20.1% |
| Leasing and similar rights | 25 | €40,252 | €28,596 | -€11,656 | -29.0% |
| Other tangible fixed assets | 26 | €77,563 | €63,698 | -€13,865 | -17.9% |
| Current assets | 29/58 | €686,415 | €638,438 | -€47,977 | -7.0% |
| Stocks and contracts in progress | 3 | €437,733 | €437,393 | -€340 | -0.1% |
| Stocks | 30/36 | €437,733 | €437,393 | -€340 | -0.1% |
| Amounts receivable within one year | 40/41 | €110,427 | €154,321 | +€43,893 | +39.7% |
| Trade receivables | 40 | €108,290 | €153,449 | +€45,159 | +41.7% |
| Other amounts receivable | 41 | €2,137 | €871 | -€1,266 | -59.2% |
| Cash at bank and in hand | 54/58 | €91,558 | €46,719 | -€44,839 | -49.0% |
| Deferred charges and accrued income | 490/1 | €46,697 | €7 | -€46,691 | -100.0% |
| Total equity and liabilities | 10/49 | €1,676,595 | €1,584,446 | -€92,148 | -5.5% |
| Equity | 10/15 | €310,995 | €411,765 | +€100,770 | +32.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €292,395 | €393,165 | +€100,770 | +34.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €290,535 | €391,305 | +€100,770 | +34.7% |
| Amounts payable | 17/49 | €1,365,599 | €1,172,681 | -€192,918 | -14.1% |
| Amounts payable after more than one year | 17 | €990,821 | €874,137 | -€116,684 | -11.8% |
| Financial debts | 170/4 | €990,821 | €874,137 | -€116,684 | -11.8% |
| Amounts payable within one year | 42/48 | €368,439 | €298,545 | -€69,894 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €137,721 | €134,105 | -€3,616 | -2.6% |
| Financial debts | 43 | €13,518 | €8,957 | -€4,561 | -33.7% |
| Credit institutions | 430/8 | €13,518 | €8,957 | -€4,561 | -33.7% |
| Trade debts | 44 | €152,628 | €67,185 | -€85,443 | -56.0% |
| Suppliers | 440/4 | €152,628 | €67,185 | -€85,443 | -56.0% |
| Taxes, remuneration and social security | 45 | €55,171 | €77,151 | +€21,980 | +39.8% |
| Taxes | 450/3 | €36,354 | €62,840 | +€26,486 | +72.9% |
| Remuneration and social security | 454/9 | €18,817 | €14,311 | -€4,506 | -23.9% |
| Other amounts payable | 47/48 | €9,401 | €11,147 | +€1,746 | +18.6% |
| Accrued charges and deferred income | 492/3 | €6,340 | - | -€6,340 | |
| Non-recurring operating income | 76A | - | €61,610 | +€61,610 | |
| Remuneration, social security and pensions | 62 | €123,763 | €128,597 | +€4,834 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,059 | €74,398 | +€5,339 | +7.7% |
| Other operating charges | 640/8 | €13,327 | €13,962 | +€635 | +4.8% |
| Non-recurring operating charges | 66A | - | €588 | +€588 | |
| Gross operating margin | 9900 | €331,384 | €396,804 | +€65,420 | +19.7% |
| Operating profit (loss) | 9901 | €125,235 | €179,258 | +€54,023 | +43.1% |
| Financial income | 75/76B | €2,297 | €667 | -€1,630 | -71.0% |
| Recurring financial income | 75 | €2,297 | €667 | -€1,630 | -71.0% |
| Financial charges | 65/66B | €47,170 | €35,441 | -€11,729 | -24.9% |
| Recurring financial charges | 65 | €47,170 | €35,441 | -€11,729 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €80,363 | €144,484 | +€64,121 | +79.8% |
| Income taxes | 67/77 | €23,127 | €43,714 | +€20,587 | +89.0% |
| Profit (loss) for the period | 9904 | €57,236 | €100,770 | +€43,534 | +76.1% |
| Profit (loss) for the period to be appropriated | 9905 | €57,236 | €100,770 | +€43,534 | +76.1% |
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 29 October 2026 via checked.be.