WITCH Project: 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.
WITCH Project
Largest movements
- Cash -€17,386
down €17,386 (-45.6%), from €38,093 to €20,707
mainly Net result for the year (-€34,592) and Deferred charges and accrued income (-€122)
- Stocks and contracts -€8,807
down €8,807 (-15.7%), from €56,151 to €47,344
- Profit (loss) carried forward -€34,592
down €34,592 (-52.3%), from €66,121 to €31,529
- Trade debts +€4,269
up €4,269 (+138.3%), from €3,086 to €7,354
- Tax, wage and social debts +€1,980
up €1,980 (+22.9%), from €8,645 to €10,625
of which Taxes: +€1,740
- Other debts +€1,826
up €1,826 (+16.1%), from €11,340 to €13,166
- Gross operating margin -€47,962
down €47,962 (-80.4%), from €59,662 to €11,700
- Taxes -€3,139
down €3,139 (-98.9%), from €3,175 to €36
- Staff costs +€2,881
up €2,881 (+6.9%), from €41,503 to €44,384
- Depreciation -€760
down €760 (-63.0%), from €1,206 to €446
- Other operating charges +€737
up €737 (+114.9%), from €642 to €1,379
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 | €101,191 | €74,674 | -€26,517 | -26.2% |
| Fixed assets | 21/28 | €6,795 | €6,348 | -€446 | -6.6% |
| Intangible fixed assets | 21 | €0 | - | -€0 | |
| Tangible fixed assets | 22/27 | €892 | €446 | -€446 | -50.0% |
| Land and buildings | 22 | €892 | €446 | -€446 | -50.0% |
| Financial fixed assets | 28 | €5,902 | €5,902 | = | 0.0% |
| Current assets | 29/58 | €94,396 | €68,326 | -€26,071 | -27.6% |
| Stocks and contracts in progress | 3 | €56,151 | €47,344 | -€8,807 | -15.7% |
| Stocks | 30/36 | €56,151 | €47,344 | -€8,807 | -15.7% |
| Cash at bank and in hand | 54/58 | €38,093 | €20,707 | -€17,386 | -45.6% |
| Deferred charges and accrued income | 490/1 | €152 | €274 | +€122 | +80.3% |
| Total equity and liabilities | 10/49 | €101,191 | €74,674 | -€26,517 | -26.2% |
| Equity | 10/15 | €78,121 | €43,529 | -€34,592 | -44.3% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,121 | €31,529 | -€34,592 | -52.3% |
| Amounts payable | 17/49 | €23,070 | €31,145 | +€8,075 | +35.0% |
| Amounts payable within one year | 42/48 | €23,070 | €31,145 | +€8,075 | +35.0% |
| Trade debts | 44 | €3,086 | €7,354 | +€4,269 | +138.3% |
| Suppliers | 440/4 | €3,086 | €7,354 | +€4,269 | +138.3% |
| Taxes, remuneration and social security | 45 | €8,645 | €10,625 | +€1,980 | +22.9% |
| Taxes | 450/3 | €3,198 | €4,937 | +€1,740 | +54.4% |
| Remuneration and social security | 454/9 | €5,447 | €5,688 | +€240 | +4.4% |
| Other amounts payable | 47/48 | €11,340 | €13,166 | +€1,826 | +16.1% |
| Remuneration, social security and pensions | 62 | €41,503 | €44,384 | +€2,881 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,206 | €446 | -€760 | -63.0% |
| Other operating charges | 640/8 | €642 | €1,379 | +€737 | +114.9% |
| Gross operating margin | 9900 | €59,662 | €11,700 | -€47,962 | -80.4% |
| Operating profit (loss) | 9901 | €16,311 | -€34,510 | -€50,821 | |
| Financial income | 75/76B | €1,557 | €1,166 | -€391 | -25.1% |
| Recurring financial income | 75 | €1,557 | €1,166 | -€391 | -25.1% |
| Financial charges | 65/66B | €876 | €1,212 | +€336 | +38.4% |
| Recurring financial charges | 65 | €876 | €1,212 | +€336 | +38.4% |
| Profit (loss) for the period before taxes | 9903 | €16,992 | -€34,556 | -€51,548 | |
| Income taxes | 67/77 | €3,175 | €36 | -€3,139 | -98.9% |
| Profit (loss) for the period | 9904 | €13,817 | -€34,592 | -€48,409 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,817 | -€34,592 | -€48,409 |
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 5 October 2026 via checked.be.