WIM DECLOEDT: 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 DECLOEDT
Largest movements
- Receivables within one year -€12,465
down €12,465 (-6.2%), from €199,880 to €187,415
of which Trade receivables: -€18,370
- Reserves -€47,800
down €47,800 (-20.5%), from €233,174 to €185,374
of which Distributable reserves: -€47,800
- Other debts +€43,205
up €43,205 (+186.0%), from €23,226 to €66,431
- Tax, wage and social debts -€7,636
down €7,636 (-17.9%), from €42,685 to €35,048
- Gross operating margin -€138,010
down €138,010 (-85.1%), from €162,103 to €24,093
- Taxes -€36,730
down €36,730 (-77.7%), from €47,268 to €10,539
- Depreciation -€11,494
down €11,494 (-73.8%), from €15,579 to €4,085
- Financial income -€3,982
down €3,982 (-28.7%), from €13,891 to €9,909
of which Non-recurring financial income: -€5,611
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 | €335,375 | €322,507 | -€12,868 | -3.8% |
| Fixed assets | 21/28 | €21,687 | €19,369 | -€2,318 | -10.7% |
| Tangible fixed assets | 22/27 | €20,763 | €18,445 | -€2,318 | -11.2% |
| Plant, machinery and equipment | 23 | €4,658 | €3,834 | -€824 | -17.7% |
| Furniture and vehicles | 24 | €16,105 | €6,491 | -€9,614 | -59.7% |
| Other tangible fixed assets | 26 | - | €8,120 | +€8,120 | |
| Financial fixed assets | 28 | €924 | €924 | = | 0.0% |
| Current assets | 29/58 | €313,687 | €303,138 | -€10,550 | -3.4% |
| Amounts receivable within one year | 40/41 | €199,880 | €187,415 | -€12,465 | -6.2% |
| Trade receivables | 40 | €19,801 | €1,431 | -€18,370 | -92.8% |
| Other amounts receivable | 41 | €180,079 | €185,984 | +€5,906 | +3.3% |
| Cash at bank and in hand | 54/58 | €105,090 | €105,089 | -€2 | 0.0% |
| Deferred charges and accrued income | 490/1 | €8,717 | €10,634 | +€1,917 | +22.0% |
| Total equity and liabilities | 10/49 | €335,375 | €322,507 | -€12,868 | -3.8% |
| Equity | 10/15 | €262,996 | €214,362 | -€48,633 | -18.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €233,174 | €185,374 | -€47,800 | -20.5% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €231,319 | €183,519 | -€47,800 | -20.7% |
| Profit (loss) carried forward | 14 | €17,421 | €16,588 | -€833 | -4.8% |
| Amounts payable | 17/49 | €72,379 | €108,145 | +€35,766 | +49.4% |
| Amounts payable within one year | 42/48 | €72,379 | €108,145 | +€35,766 | +49.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €6,468 | €6,665 | +€197 | +3.0% |
| Suppliers | 440/4 | €6,468 | €6,665 | +€197 | +3.0% |
| Taxes, remuneration and social security | 45 | €42,685 | €35,048 | -€7,636 | -17.9% |
| Taxes | 450/3 | €42,685 | €35,048 | -€7,636 | -17.9% |
| Other amounts payable | 47/48 | €23,226 | €66,431 | +€43,205 | +186.0% |
| Non-recurring operating income | 76A | - | €5,379 | +€5,379 | |
| Remuneration, social security and pensions | 62 | €658 | €0 | -€658 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,579 | €4,085 | -€11,494 | -73.8% |
| Other operating charges | 640/8 | €1,748 | €971 | -€777 | -44.5% |
| Non-recurring operating charges | 66A | €0 | €255 | +€255 | |
| Gross operating margin | 9900 | €162,103 | €24,093 | -€138,010 | -85.1% |
| Operating profit (loss) | 9901 | €144,117 | €18,782 | -€125,335 | -87.0% |
| Financial income | 75/76B | €13,891 | €9,909 | -€3,982 | -28.7% |
| Recurring financial income | 75 | €8,280 | €9,909 | +€1,629 | +19.7% |
| Non-recurring financial income | 76B | €5,611 | €0 | -€5,611 | -100.0% |
| Financial charges | 65/66B | €289 | €355 | +€65 | +22.6% |
| Recurring financial charges | 65 | €289 | €355 | +€65 | +22.6% |
| Profit (loss) for the period before taxes | 9903 | €157,719 | €28,337 | -€129,383 | -82.0% |
| Income taxes | 67/77 | €47,268 | €10,539 | -€36,730 | -77.7% |
| Profit (loss) for the period | 9904 | €110,451 | €17,798 | -€92,653 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €110,451 | €17,798 | -€92,653 | -83.9% |
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 9 October 2026 via checked.be.