WL: 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.
WL
Largest movements
- Cash -€24,082
down €24,082 (-53.8%), from €44,741 to €20,658
mainly Debts after one year (-€14,667) and Tax, wage and social debts (-€13,848)
- Receivables within one year +€7,531
up €7,531 (+583.9%), from €1,290 to €8,820
of which Other amounts receivable: +€4,282
- Stocks and contracts +€6,822
up €6,822 (+106.2%), from €6,421 to €13,244
- Tangible fixed assets -€1,977
down €1,977 (-3.1%), from €63,906 to €61,929
of which Plant, machinery and equipment: -€4,428
- Reserves +€39,130
up €39,130 (+132.4%), from €29,548 to €68,678
- Debts after one year -€14,667
no longer reported in 2025 (was €14,667)
- Tax, wage and social debts -€13,848
down €13,848 (-42.9%), from €32,283 to €18,434
of which Taxes: -€13,917
- Trade debts -€11,337
down €11,337 (-56.2%), from €20,154 to €8,818
- Other debts -€8,789
down €8,789 (-97.6%), from €9,001 to €212
- Taxes +€6,552
up €6,552 (+82.0%), from €7,988 to €14,539
- Gross operating margin -€2,406
down €2,406 (-1.2%), from €193,183 to €190,778
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 | €116,357 | €104,858 | -€11,500 | -9.9% |
| Fixed assets | 21/28 | €63,906 | €61,929 | -€1,977 | -3.1% |
| Tangible fixed assets | 22/27 | €63,906 | €61,929 | -€1,977 | -3.1% |
| Land and buildings | 22 | €2,567 | €2,284 | -€283 | -11.0% |
| Plant, machinery and equipment | 23 | €56,841 | €52,413 | -€4,428 | -7.8% |
| Furniture and vehicles | 24 | €4,498 | €7,232 | +€2,734 | +60.8% |
| Current assets | 29/58 | €52,452 | €42,929 | -€9,523 | -18.2% |
| Stocks and contracts in progress | 3 | €6,421 | €13,244 | +€6,822 | +106.2% |
| Stocks | 30/36 | €6,421 | €13,244 | +€6,822 | +106.2% |
| Amounts receivable within one year | 40/41 | €1,290 | €8,820 | +€7,531 | +583.9% |
| Trade receivables | 40 | €784 | €4,032 | +€3,249 | +414.6% |
| Other amounts receivable | 41 | €506 | €4,788 | +€4,282 | +846.0% |
| Current investments | 50/53 | - | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €44,741 | €20,658 | -€24,082 | -53.8% |
| Deferred charges and accrued income | 490/1 | - | €206 | +€206 | |
| Total equity and liabilities | 10/49 | €116,357 | €104,858 | -€11,500 | -9.9% |
| Equity | 10/15 | €32,548 | €71,678 | +€39,130 | +120.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €29,548 | €68,678 | +€39,130 | +132.4% |
| Distributable reserves | 133 | €29,548 | €68,678 | +€39,130 | +132.4% |
| Amounts payable | 17/49 | €83,809 | €33,180 | -€50,630 | -60.4% |
| Amounts payable after more than one year | 17 | €14,667 | - | -€14,667 | |
| Financial debts | 170/4 | €14,667 | - | -€14,667 | |
| Amounts payable within one year | 42/48 | €69,143 | €33,180 | -€35,963 | -52.0% |
| Current portion of amounts payable after more than one year | 42 | €6,733 | - | -€6,733 | |
| Financial debts | 43 | - | €24 | +€24 | |
| Credit institutions | 430/8 | - | €24 | +€24 | |
| Trade debts | 44 | €20,154 | €8,818 | -€11,337 | -56.2% |
| Suppliers | 440/4 | €20,154 | €8,818 | -€11,337 | -56.2% |
| Advances received on contracts in progress | 46 | €972 | €5,692 | +€4,720 | +485.7% |
| Taxes, remuneration and social security | 45 | €32,283 | €18,434 | -€13,848 | -42.9% |
| Taxes | 450/3 | €19,362 | €5,445 | -€13,917 | -71.9% |
| Remuneration and social security | 454/9 | €12,920 | €12,989 | +€69 | +0.5% |
| Other amounts payable | 47/48 | €9,001 | €212 | -€8,789 | -97.6% |
| Remuneration, social security and pensions | 62 | €123,523 | €122,700 | -€823 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,641 | €9,341 | +€700 | +8.1% |
| Other operating charges | 640/8 | - | €977 | +€977 | |
| Gross operating margin | 9900 | €193,183 | €190,778 | -€2,406 | -1.2% |
| Operating profit (loss) | 9901 | €61,019 | €57,760 | -€3,259 | -5.3% |
| Financial income | 75/76B | €172 | €932 | +€759 | +440.4% |
| Recurring financial income | 75 | €172 | €932 | +€759 | +440.4% |
| Financial charges | 65/66B | €4,209 | €5,022 | +€814 | +19.3% |
| Recurring financial charges | 65 | €4,209 | €5,022 | +€814 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €56,983 | €53,669 | -€3,314 | -5.8% |
| Income taxes | 67/77 | €7,988 | €14,539 | +€6,552 | +82.0% |
| Profit (loss) for the period | 9904 | €48,995 | €39,130 | -€9,865 | -20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,995 | €39,130 | -€9,865 | -20.1% |
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 29 September 2026 via checked.be.