WIP Effects: 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.
WIP Effects
Largest movements
- Current investments +€160,000
new in 2025: €160,000
- Cash -€41,632
down €41,632 (-22.3%), from €186,624 to €144,992
mainly Current investments (-€160,000) and Other debts (-€25,715)
- Receivables within one year -€34,045
down €34,045 (-21.4%), from €159,055 to €125,011
of which Trade receivables: -€34,178
- Tangible fixed assets -€11,781
down €11,781 (-17.3%), from €68,109 to €56,328
of which Other tangible fixed assets: -€7,118
- Deferred charges and accrued income -€6,172
no longer reported in 2025 (was €6,172)
- Profit (loss) carried forward +€48,411
up €48,411, from -€2,030 to €46,381
- Reserves +€33,384
up €33,384 (+9.7%), from €345,068 to €378,452
of which Distributable reserves: +€33,384
- Tax, wage and social debts +€32,325
up €32,325 (+439.1%), from €7,362 to €39,687
of which Taxes: +€33,476
- Other debts -€25,715
down €25,715 (-81.1%), from €31,715 to €6,000
- Trade debts -€22,104
down €22,104 (-86.6%), from €25,516 to €3,412
- Gross operating margin +€87,414
up €87,414 (+700.1%), from €12,487 to €99,901
- Taxes +€24,524
up €24,524 (+586.4%), from €4,182 to €28,706
- Other operating charges +€4,579
up €4,579 (+394.2%), from €1,161 to €5,740
- Depreciation +€1,407
up €1,407 (+13.6%), from €10,373 to €11,781
- Financial charges +€1,233
up €1,233 (+24.6%), from €5,018 to €6,251
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 | €420,030 | €486,330 | +€66,301 | +15.8% |
| Fixed assets | 21/28 | €68,178 | €56,328 | -€11,850 | -17.4% |
| Tangible fixed assets | 22/27 | €68,109 | €56,328 | -€11,781 | -17.3% |
| Land and buildings | 22 | €1,394 | €1,394 | = | 0.0% |
| Furniture and vehicles | 24 | €13,744 | €9,383 | -€4,361 | -31.7% |
| Leasing and similar rights | 25 | €511 | €210 | -€301 | -59.0% |
| Other tangible fixed assets | 26 | €52,460 | €45,342 | -€7,118 | -13.6% |
| Financial fixed assets | 28 | €69 | - | -€69 | |
| Current assets | 29/58 | €351,851 | €430,002 | +€78,151 | +22.2% |
| Amounts receivable within one year | 40/41 | €159,055 | €125,011 | -€34,045 | -21.4% |
| Trade receivables | 40 | €41,188 | €7,011 | -€34,178 | -83.0% |
| Other amounts receivable | 41 | €117,867 | €118,000 | +€133 | +0.1% |
| Current investments | 50/53 | - | €160,000 | +€160,000 | |
| Cash at bank and in hand | 54/58 | €186,624 | €144,992 | -€41,632 | -22.3% |
| Deferred charges and accrued income | 490/1 | €6,172 | - | -€6,172 | |
| Total equity and liabilities | 10/49 | €420,030 | €486,330 | +€66,301 | +15.8% |
| Equity | 10/15 | €355,437 | €437,232 | +€81,795 | +23.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €345,068 | €378,452 | +€33,384 | +9.7% |
| 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 | €343,208 | €376,592 | +€33,384 | +9.7% |
| Profit (loss) carried forward | 14 | -€2,030 | €46,381 | +€48,411 | |
| Amounts payable | 17/49 | €64,592 | €49,098 | -€15,494 | -24.0% |
| Amounts payable within one year | 42/48 | €64,592 | €49,098 | -€15,494 | -24.0% |
| Trade debts | 44 | €25,516 | €3,412 | -€22,104 | -86.6% |
| Suppliers | 440/4 | €25,516 | €3,412 | -€22,104 | -86.6% |
| Taxes, remuneration and social security | 45 | €7,362 | €39,687 | +€32,325 | +439.1% |
| Taxes | 450/3 | €6,210 | €39,687 | +€33,476 | +539.0% |
| Remuneration and social security | 454/9 | €1,151 | - | -€1,151 | |
| Other amounts payable | 47/48 | €31,715 | €6,000 | -€25,715 | -81.1% |
| Non-recurring operating income | 76A | - | €100,000 | +€100,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,373 | €11,781 | +€1,407 | +13.6% |
| Other operating charges | 640/8 | €1,161 | €5,740 | +€4,579 | +394.2% |
| Gross operating margin | 9900 | €12,487 | €99,901 | +€87,414 | +700.1% |
| Operating profit (loss) | 9901 | €952 | €82,380 | +€81,428 | +8554.5% |
| Financial income | 75/76B | €1,123 | €988 | -€135 | -12.0% |
| Recurring financial income | 75 | €1,123 | €988 | -€135 | -12.0% |
| Financial charges | 65/66B | €5,018 | €6,251 | +€1,233 | +24.6% |
| Recurring financial charges | 65 | €5,018 | €6,251 | +€1,233 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,943 | €77,117 | +€80,060 | |
| Income taxes | 67/77 | €4,182 | €28,706 | +€24,524 | +586.4% |
| Profit (loss) for the period | 9904 | -€7,125 | €48,411 | +€55,536 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,125 | €48,411 | +€55,536 |
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 3 October 2026 via checked.be.