WL-PROJECTS: 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-PROJECTS
Largest movements
- Tangible fixed assets +€119,061
up €119,061 (+784.2%), from €15,183 to €134,245
of which Land and buildings: +€118,620
- Cash +€62,904
up €62,904 (+169.2%), from €37,168 to €100,072
mainly Debts after one year (+€76,516) and Net result for the year (+€62,662)
- Receivables within one year -€61,290
down €61,290 (-97.5%), from €62,831 to €1,542
of which Trade receivables: -€61,970
- Debts after one year +€76,516
new in 2025: €76,516
- Reserves +€62,662
up €62,662 (+91.7%), from €68,366 to €131,028
- Tax, wage and social debts -€28,762
down €28,762 (-79.6%), from €36,120 to €7,358
- Current portion of long-term debt +€16,418
new in 2025: €16,418
- Other debts -€5,724
no longer reported in 2025 (was €5,724)
- Gross operating margin +€22,497
up €22,497 (+25.7%), from €87,424 to €109,921
- Other operating charges +€19,454
up €19,454 (+2520.7%), from €772 to €20,226
- Depreciation +€5,205
up €5,205 (+485.6%), from €1,072 to €6,277
- Financial charges +€4,713
up €4,713 (+8892.1%), from €53 to €4,766
- Taxes -€1,172
down €1,172 (-6.8%), from €17,161 to €15,990
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 | €116,432 | €237,108 | +€120,676 | +103.6% |
| Fixed assets | 21/28 | €16,433 | €135,495 | +€119,061 | +724.5% |
| Tangible fixed assets | 22/27 | €15,183 | €134,245 | +€119,061 | +784.2% |
| Land and buildings | 22 | - | €118,620 | +€118,620 | |
| Plant, machinery and equipment | 23 | €1,884 | €2,495 | +€612 | +32.5% |
| Furniture and vehicles | 24 | €1,262 | €2,375 | +€1,113 | +88.2% |
| Other tangible fixed assets | 26 | €12,038 | €10,755 | -€1,283 | -10.7% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €99,999 | €101,614 | +€1,615 | +1.6% |
| Amounts receivable within one year | 40/41 | €62,831 | €1,542 | -€61,290 | -97.5% |
| Trade receivables | 40 | €62,395 | €425 | -€61,970 | -99.3% |
| Other amounts receivable | 41 | €436 | €1,117 | +€680 | +155.9% |
| Cash at bank and in hand | 54/58 | €37,168 | €100,072 | +€62,904 | +169.2% |
| Total equity and liabilities | 10/49 | €116,432 | €237,108 | +€120,676 | +103.6% |
| Equity | 10/15 | €73,366 | €136,028 | +€62,662 | +85.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €68,366 | €131,028 | +€62,662 | +91.7% |
| Distributable reserves | 133 | €68,366 | €131,028 | +€62,662 | +91.7% |
| Amounts payable | 17/49 | €43,066 | €101,080 | +€58,014 | +134.7% |
| Amounts payable after more than one year | 17 | - | €76,516 | +€76,516 | |
| Financial debts | 170/4 | - | €76,516 | +€76,516 | |
| Amounts payable within one year | 42/48 | €42,924 | €24,564 | -€18,360 | -42.8% |
| Current portion of amounts payable after more than one year | 42 | - | €16,418 | +€16,418 | |
| Trade debts | 44 | €1,080 | €787 | -€292 | -27.1% |
| Suppliers | 440/4 | €1,080 | €787 | -€292 | -27.1% |
| Taxes, remuneration and social security | 45 | €36,120 | €7,358 | -€28,762 | -79.6% |
| Taxes | 450/3 | €36,120 | €7,358 | -€28,762 | -79.6% |
| Other amounts payable | 47/48 | €5,724 | - | -€5,724 | |
| Accrued charges and deferred income | 492/3 | €143 | - | -€143 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,072 | €6,277 | +€5,205 | +485.6% |
| Other operating charges | 640/8 | €772 | €20,226 | +€19,454 | +2520.7% |
| Gross operating margin | 9900 | €87,424 | €109,921 | +€22,497 | +25.7% |
| Operating profit (loss) | 9901 | €85,580 | €83,417 | -€2,163 | -2.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €53 | €4,766 | +€4,713 | +8892.1% |
| Recurring financial charges | 65 | €53 | €4,766 | +€4,713 | +8892.1% |
| Profit (loss) for the period before taxes | 9903 | €85,527 | €78,652 | -€6,876 | -8.0% |
| Income taxes | 67/77 | €17,161 | €15,990 | -€1,172 | -6.8% |
| Profit (loss) for the period | 9904 | €68,366 | €62,662 | -€5,704 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €68,366 | €62,662 | -€5,704 | -8.3% |
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 3 October 2026 via checked.be.