WIVESCO: 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.
WIVESCO
Largest movements
- Cash +€84,935
up €84,935 (+66.3%), from €128,128 to €213,063
mainly Net result for the year (+€147,364) and Trade debts (+€48,457)
- Deferred charges and accrued income +€66,903
up €66,903 (+3,065%), from €2,183 to €69,086
- Receivables within one year +€36,256
up €36,256 (+149%), from €24,387 to €60,644
of which Trade receivables: +€28,474
- Tangible fixed assets -€18,359
down €18,359 (-3.3%), from €550,812 to €532,453
of which Assets under construction and advance payments: -€111,063
- Profit (loss) carried forward +€147,364
up €147,364 (+43.9%), from €335,595 to €482,959
- Trade debts +€48,457
up €48,457 (+411%), from €11,796 to €60,253
- Current portion of long-term debt -€38,618
no longer reported in 2025 (was €38,618)
- Other debts -€35,143
down €35,143 (-56.8%), from €61,868 to €26,725
- Short-term financial debts +€25,042
new in 2025: €25,042
- Gross operating margin -€32,381
down €32,381 (-12.1%), from €267,436 to €235,055
- Other operating charges -€27,182
down €27,182 (-96.2%), from €28,253 to €1,071
- Depreciation +€15,649
up €15,649 (+151%), from €10,385 to €26,035
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 | €705,620 | €875,355 | +€169,735 | +24.1% |
| Fixed assets | 21/28 | €550,922 | €532,563 | -€18,359 | -3.3% |
| Tangible fixed assets | 22/27 | €550,812 | €532,453 | -€18,359 | -3.3% |
| Land and buildings | 22 | €426,477 | €515,937 | +€89,460 | +21.0% |
| Plant, machinery and equipment | 23 | €6,273 | €10,738 | +€4,465 | +71.2% |
| Furniture and vehicles | 24 | €6,998 | €5,777 | -€1,220 | -17.4% |
| Assets under construction and advance payments | 27 | €111,063 | - | -€111,063 | |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €154,698 | €342,792 | +€188,094 | +122% |
| Amounts receivable within one year | 40/41 | €24,387 | €60,644 | +€36,256 | +149% |
| Trade receivables | 40 | €20,980 | €49,454 | +€28,474 | +136% |
| Other amounts receivable | 41 | €3,407 | €11,189 | +€7,782 | +228% |
| Cash at bank and in hand | 54/58 | €128,128 | €213,063 | +€84,935 | +66.3% |
| Deferred charges and accrued income | 490/1 | €2,183 | €69,086 | +€66,903 | +3,065% |
| Total equity and liabilities | 10/49 | €705,620 | €875,355 | +€169,735 | +24.1% |
| Equity | 10/15 | €340,595 | €487,959 | +€147,364 | +43.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €335,595 | €482,959 | +€147,364 | +43.9% |
| Provisions and deferred taxes | 16 | €1,717 | €1,717 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,717 | €1,717 | = | 0.0% |
| Environmental obligations | 163 | €1,717 | €1,717 | = | 0.0% |
| Amounts payable | 17/49 | €363,308 | €385,679 | +€22,371 | +6.2% |
| Amounts payable after more than one year | 17 | €199,788 | €199,788 | = | 0.0% |
| Financial debts | 170/4 | €199,788 | €199,788 | = | 0.0% |
| Amounts payable within one year | 42/48 | €163,223 | €185,891 | +€22,668 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €38,618 | - | -€38,618 | |
| Financial debts | 43 | - | €25,042 | +€25,042 | |
| Credit institutions | 430/8 | - | €25,042 | +€25,042 | |
| Trade debts | 44 | €11,796 | €60,253 | +€48,457 | +411% |
| Suppliers | 440/4 | €11,796 | €60,253 | +€48,457 | +411% |
| Taxes, remuneration and social security | 45 | €50,941 | €73,870 | +€22,930 | +45.0% |
| Taxes | 450/3 | €50,941 | €73,870 | +€22,930 | +45.0% |
| Other amounts payable | 47/48 | €61,868 | €26,725 | -€35,143 | -56.8% |
| Accrued charges and deferred income | 492/3 | €297 | - | -€297 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,385 | €26,035 | +€15,649 | +151% |
| Other operating charges | 640/8 | €28,253 | €1,071 | -€27,182 | -96.2% |
| Gross operating margin | 9900 | €267,436 | €235,055 | -€32,381 | -12.1% |
| Operating profit (loss) | 9901 | €228,798 | €207,950 | -€20,848 | -9.1% |
| Financial income | 75/76B | €838 | €273 | -€566 | -67.5% |
| Recurring financial income | 75 | €838 | €273 | -€566 | -67.5% |
| Financial charges | 65/66B | €9,257 | €7,933 | -€1,325 | -14.3% |
| Recurring financial charges | 65 | €9,257 | €7,933 | -€1,325 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €220,379 | €200,290 | -€20,089 | -9.1% |
| Income taxes | 67/77 | €50,941 | €52,925 | +€1,985 | +3.9% |
| Profit (loss) for the period | 9904 | €169,438 | €147,364 | -€22,074 | -13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €169,438 | €147,364 | -€22,074 | -13.0% |
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 15 October 2026 via checked.be.