WL Construct: 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 Construct
Largest movements
- Cash -€191,950
down €191,950 (-52.4%), from €366,611 to €174,661
mainly Investment in fixed assets (net) (-€213,038) and Receivables within one year (-€109,390)
- Receivables within one year +€109,390
up €109,390 (+13.2%), from €829,491 to €938,882
of which Trade receivables: +€111,361
- Tangible fixed assets +€87,284
up €87,284 (+10.2%), from €859,926 to €947,210
of which Plant, machinery and equipment: +€90,329
- Debts after one year -€60,278
down €60,278 (-10.0%), from €600,539 to €540,261
- Other debts -€49,736
down €49,736 (-99.4%), from €50,031 to €295
- Tax, wage and social debts +€49,018
up €49,018 (+168.6%), from €29,078 to €78,096
of which Remuneration and social security: +€46,338
- Profit (loss) carried forward +€43,989
up €43,989 (+8.9%), from €493,673 to €537,662
- Short-term financial debts +€33,410
up €33,410 (+13.4%), from €250,000 to €283,410
- Staff costs +€272,912
up €272,912 (+38.3%), from €713,186 to €986,097
- Gross operating margin +€159,819
up €159,819 (+15.1%), from €1.1m to €1.2m
- Financial income -€18,984
down €18,984 (-73.9%), from €25,696 to €6,713
- Taxes -€17,569
down €17,569 (-55.8%), from €31,497 to €13,928
- Financial charges +€14,455
up €14,455 (+39.1%), from €36,968 to €51,423
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 | €2,126,847 | €2,132,409 | +€5,561 | +0.3% |
| Fixed assets | 21/28 | €894,310 | €982,166 | +€87,857 | +9.8% |
| Intangible fixed assets | 21 | €23,939 | €23,841 | -€98 | -0.4% |
| Tangible fixed assets | 22/27 | €859,926 | €947,210 | +€87,284 | +10.2% |
| Land and buildings | 22 | €516,914 | €498,744 | -€18,170 | -3.5% |
| Plant, machinery and equipment | 23 | €99,520 | €189,849 | +€90,329 | +90.8% |
| Furniture and vehicles | 24 | €32,011 | €70,786 | +€38,775 | +121.1% |
| Leasing and similar rights | 25 | €211,481 | €187,831 | -€23,650 | -11.2% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €10,445 | €11,115 | +€670 | +6.4% |
| Current assets | 29/58 | €1,232,538 | €1,150,243 | -€82,295 | -6.7% |
| Stocks and contracts in progress | 3 | €27,112 | €27,964 | +€852 | +3.1% |
| Stocks | 30/36 | €27,112 | €27,964 | +€852 | +3.1% |
| Amounts receivable within one year | 40/41 | €829,491 | €938,882 | +€109,390 | +13.2% |
| Trade receivables | 40 | €593,391 | €704,752 | +€111,361 | +18.8% |
| Other amounts receivable | 41 | €236,100 | €234,130 | -€1,970 | -0.8% |
| Cash at bank and in hand | 54/58 | €366,611 | €174,661 | -€191,950 | -52.4% |
| Deferred charges and accrued income | 490/1 | €9,324 | €8,737 | -€588 | -6.3% |
| Total equity and liabilities | 10/49 | €2,126,847 | €2,132,409 | +€5,561 | +0.3% |
| Equity | 10/15 | €666,823 | €710,812 | +€43,989 | +6.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €73,150 | €73,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,150 | €63,150 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €493,673 | €537,662 | +€43,989 | +8.9% |
| Amounts payable | 17/49 | €1,460,025 | €1,421,596 | -€38,428 | -2.6% |
| Amounts payable after more than one year | 17 | €600,539 | €540,261 | -€60,278 | -10.0% |
| Financial debts | 170/4 | €600,539 | €540,261 | -€60,278 | -10.0% |
| Amounts payable within one year | 42/48 | €859,485 | €878,535 | +€19,050 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €80,272 | €74,377 | -€5,895 | -7.3% |
| Financial debts | 43 | €250,000 | €283,410 | +€33,410 | +13.4% |
| Credit institutions | 430/8 | €250,000 | €283,410 | +€33,410 | +13.4% |
| Trade debts | 44 | €450,104 | €442,357 | -€7,748 | -1.7% |
| Suppliers | 440/4 | €450,104 | €442,357 | -€7,748 | -1.7% |
| Taxes, remuneration and social security | 45 | €29,078 | €78,096 | +€49,018 | +168.6% |
| Taxes | 450/3 | €1,718 | €4,399 | +€2,681 | +156.0% |
| Remuneration and social security | 454/9 | €27,360 | €73,698 | +€46,338 | +169.4% |
| Other amounts payable | 47/48 | €50,031 | €295 | -€49,736 | -99.4% |
| Accrued charges and deferred income | 492/3 | - | €2,800 | +€2,800 | |
| Remuneration, social security and pensions | 62 | €713,186 | €986,097 | +€272,912 | +38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,412 | €125,182 | +€770 | +0.6% |
| Other operating charges | 640/8 | €3,261 | €5,875 | +€2,614 | +80.1% |
| Non-recurring operating charges | 66A | €22,248 | - | -€22,248 | |
| Gross operating margin | 9900 | €1,059,962 | €1,219,781 | +€159,819 | +15.1% |
| Operating profit (loss) | 9901 | €196,855 | €102,627 | -€94,228 | -47.9% |
| Financial income | 75/76B | €25,696 | €6,713 | -€18,984 | -73.9% |
| Recurring financial income | 75 | €25,696 | €6,713 | -€18,984 | -73.9% |
| Financial charges | 65/66B | €36,968 | €51,423 | +€14,455 | +39.1% |
| Recurring financial charges | 65 | €36,968 | €51,423 | +€14,455 | +39.1% |
| Profit (loss) for the period before taxes | 9903 | €185,583 | €57,917 | -€127,666 | -68.8% |
| Income taxes | 67/77 | €31,497 | €13,928 | -€17,569 | -55.8% |
| Profit (loss) for the period | 9904 | €154,086 | €43,989 | -€110,097 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €154,086 | €43,989 | -€110,097 | -71.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.