WJW: 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.
WJW
Largest movements
- Receivables within one year -€147,645
down €147,645 (-95.7%), from €154,254 to €6,610
of which Other amounts receivable: -€143,540
- Tangible fixed assets -€28,880
down €28,880 (-14.8%), from €195,414 to €166,534
of which Land and buildings: -€26,170
- Cash +€4,598
up €4,598 (+49.9%), from €9,218 to €13,816
mainly Receivables within one year (+€147,645) and Depreciation (+€28,880)
- Debts after one year -€160,115
no longer reported in 2025 (was €160,115)
- Other debts -€31,601
down €31,601 (-92.4%), from €34,186 to €2,585
- Trade debts +€9,718
up €9,718 (+131.5%), from €7,391 to €17,109
- Accrued charges and deferred income +€8,006
up €8,006 (+16.7%), from €48,035 to €56,040
- Gross operating margin -€13,207
down €13,207 (-18.6%), from €71,187 to €57,979
- Taxes -€4,921
down €4,921 (-86.9%), from €5,663 to €742
- Other operating charges +€4,597
up €4,597 (+33.1%), from €13,872 to €18,468
- Depreciation -€922
down €922 (-3.1%), from €29,802 to €28,880
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 | €358,886 | €187,093 | -€171,793 | -47.9% |
| Fixed assets | 21/28 | €195,414 | €166,534 | -€28,880 | -14.8% |
| Tangible fixed assets | 22/27 | €195,414 | €166,534 | -€28,880 | -14.8% |
| Land and buildings | 22 | €190,735 | €164,566 | -€26,170 | -13.7% |
| Plant, machinery and equipment | 23 | €4,332 | €1,968 | -€2,364 | -54.6% |
| Other tangible fixed assets | 26 | €346 | - | -€346 | |
| Current assets | 29/58 | €163,473 | €20,559 | -€142,913 | -87.4% |
| Amounts receivable within one year | 40/41 | €154,254 | €6,610 | -€147,645 | -95.7% |
| Trade receivables | 40 | €4,105 | - | -€4,105 | |
| Other amounts receivable | 41 | €150,150 | €6,610 | -€143,540 | -95.6% |
| Cash at bank and in hand | 54/58 | €9,218 | €13,816 | +€4,598 | +49.9% |
| Deferred charges and accrued income | 490/1 | - | €133 | +€133 | |
| Total equity and liabilities | 10/49 | €358,886 | €187,093 | -€171,793 | -47.9% |
| Equity | 10/15 | €103,498 | €104,954 | +€1,456 | +1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €38,539 | €38,539 | = | 0.0% |
| Non-distributable reserves | 130/1 | €33,000 | €33,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €33,000 | €33,000 | = | 0.0% |
| Distributable reserves | 133 | €5,539 | €5,539 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,359 | €47,815 | +€1,456 | +3.1% |
| Amounts payable | 17/49 | €255,389 | €82,139 | -€173,250 | -67.8% |
| Amounts payable after more than one year | 17 | €160,115 | - | -€160,115 | |
| Financial debts | 170/4 | €160,115 | - | -€160,115 | |
| Amounts payable within one year | 42/48 | €47,239 | €26,099 | -€21,140 | -44.8% |
| Trade debts | 44 | €7,391 | €17,109 | +€9,718 | +131.5% |
| Suppliers | 440/4 | €7,391 | €17,109 | +€9,718 | +131.5% |
| Taxes, remuneration and social security | 45 | €5,663 | €6,406 | +€742 | +13.1% |
| Taxes | 450/3 | €5,663 | €6,406 | +€742 | +13.1% |
| Other amounts payable | 47/48 | €34,186 | €2,585 | -€31,601 | -92.4% |
| Accrued charges and deferred income | 492/3 | €48,035 | €56,040 | +€8,006 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,802 | €28,880 | -€922 | -3.1% |
| Other operating charges | 640/8 | €13,872 | €18,468 | +€4,597 | +33.1% |
| Gross operating margin | 9900 | €71,187 | €57,979 | -€13,207 | -18.6% |
| Operating profit (loss) | 9901 | €27,513 | €10,631 | -€16,882 | -61.4% |
| Financial charges | 65/66B | €8,365 | €8,432 | +€67 | +0.8% |
| Recurring financial charges | 65 | €8,365 | €8,432 | +€67 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €19,148 | €2,199 | -€16,949 | -88.5% |
| Income taxes | 67/77 | €5,663 | €742 | -€4,921 | -86.9% |
| Profit (loss) for the period | 9904 | €13,485 | €1,456 | -€12,028 | -89.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,485 | €1,456 | -€12,028 | -89.2% |
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 11 October 2026 via checked.be.