WM-BUILDING: 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.
WM-BUILDING
Largest movements
- Receivables within one year +€209,375
up €209,375 (+60.3%), from €347,198 to €556,574
of which Trade receivables: +€146,149
- Stocks and contracts -€137,349
down €137,349 (-13.1%), from €1.0m to €912,559
of which Stocks: -€194,849
- Cash -€82,408
down €82,408 (-40.4%), from €203,884 to €121,476
mainly Receivables within one year (-€209,375) and Other debts (-€99,239)
- Reserves +€136,921
up €136,921 (+20.6%), from €663,102 to €800,023
- Other debts -€99,239
down €99,239 (-88.6%), from €112,063 to €12,824
- Tax, wage and social debts -€73,998
down €73,998 (-65.5%), from €113,025 to €39,027
- Trade debts +€31,900
up €31,900 (+30.2%), from €105,755 to €137,655
- Gross operating margin -€22,266
down €22,266 (-9.5%), from €234,165 to €211,899
- Taxes +€22,184
up €22,184 (+116%), from €19,057 to €41,241
- Depreciation +€3,554
up €3,554 (+56.8%), from €6,253 to €9,806
- Financial charges -€2,926
down €2,926 (-13.2%), from €22,239 to €19,313
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 | €1,646,946 | €1,639,196 | -€7,749 | -0.5% |
| Fixed assets | 21/28 | €42,571 | €41,105 | -€1,466 | -3.4% |
| Tangible fixed assets | 22/27 | €20,071 | €11,105 | -€8,966 | -44.7% |
| Plant, machinery and equipment | 23 | €859 | €652 | -€206 | -24.0% |
| Furniture and vehicles | 24 | €12,471 | €4,938 | -€7,533 | -60.4% |
| Other tangible fixed assets | 26 | €6,742 | €5,515 | -€1,227 | -18.2% |
| Financial fixed assets | 28 | €22,500 | €30,000 | +€7,500 | +33.3% |
| Current assets | 29/58 | €1,604,374 | €1,598,091 | -€6,283 | -0.4% |
| Stocks and contracts in progress | 3 | €1,049,908 | €912,559 | -€137,349 | -13.1% |
| Stocks | 30/36 | €959,408 | €764,559 | -€194,849 | -20.3% |
| Contracts in progress | 37 | €90,500 | €148,000 | +€57,500 | +63.5% |
| Amounts receivable within one year | 40/41 | €347,198 | €556,574 | +€209,375 | +60.3% |
| Trade receivables | 40 | €347,198 | €493,347 | +€146,149 | +42.1% |
| Other amounts receivable | 41 | €0 | €63,226 | +€63,226 | |
| Cash at bank and in hand | 54/58 | €203,884 | €121,476 | -€82,408 | -40.4% |
| Deferred charges and accrued income | 490/1 | €3,383 | €7,482 | +€4,099 | +121% |
| Total equity and liabilities | 10/49 | €1,646,946 | €1,639,196 | -€7,749 | -0.5% |
| Equity | 10/15 | €1,063,102 | €1,200,023 | +€136,921 | +12.9% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €663,102 | €800,023 | +€136,921 | +20.6% |
| Distributable reserves | 133 | €663,102 | €800,023 | +€136,921 | +20.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €583,843 | €439,173 | -€144,670 | -24.8% |
| Amounts payable within one year | 42/48 | €580,843 | €436,173 | -€144,670 | -24.9% |
| Financial debts | 43 | €250,000 | €246,667 | -€3,333 | -1.3% |
| Credit institutions | 430/8 | €250,000 | €246,667 | -€3,333 | -1.3% |
| Trade debts | 44 | €105,755 | €137,655 | +€31,900 | +30.2% |
| Suppliers | 440/4 | €105,755 | €137,655 | +€31,900 | +30.2% |
| Taxes, remuneration and social security | 45 | €113,025 | €39,027 | -€73,998 | -65.5% |
| Taxes | 450/3 | €113,025 | €39,027 | -€73,998 | -65.5% |
| Other amounts payable | 47/48 | €112,063 | €12,824 | -€99,239 | -88.6% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,253 | €9,806 | +€3,554 | +56.8% |
| Other operating charges | 640/8 | €5,960 | €6,006 | +€46 | +0.8% |
| Gross operating margin | 9900 | €234,165 | €211,899 | -€22,266 | -9.5% |
| Operating profit (loss) | 9901 | €221,952 | €196,086 | -€25,866 | -11.7% |
| Financial income | 75/76B | €2,234 | €1,388 | -€846 | -37.9% |
| Recurring financial income | 75 | €2,234 | €1,388 | -€846 | -37.9% |
| Financial charges | 65/66B | €22,239 | €19,313 | -€2,926 | -13.2% |
| Recurring financial charges | 65 | €22,239 | €19,313 | -€2,926 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €201,947 | €178,162 | -€23,786 | -11.8% |
| Income taxes | 67/77 | €19,057 | €41,241 | +€22,184 | +116% |
| Profit (loss) for the period | 9904 | €182,890 | €136,921 | -€45,969 | -25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €182,890 | €136,921 | -€45,969 | -25.1% |
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 18 October 2026 via checked.be.