WM&C: 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&C
Largest movements
- Receivables after one year -€103,000
down €103,000 (-62.4%), from €165,000 to €62,000
- Current investments +€27,928
new in 2026: €27,928
- Cash -€17,009
down €17,009 (-38.9%), from €43,756 to €26,747
mainly Contributions, distributions and other (-€153,188) and Current investments (-€27,928)
- Receivables within one year -€15,961
down €15,961 (-48.7%), from €32,804 to €16,843
of which Trade receivables: -€14,286
- Reserves -€115,861
down €115,861 (-51.3%), from €225,664 to €109,803
- Tax, wage and social debts +€4,494
up €4,494 (+59.1%), from €7,605 to €12,099
- Gross operating margin +€49,184
up €49,184 (+1,264%), from €3,890 to €53,074
- Taxes +€13,240
up €13,240 (+719%), from €1,842 to €15,083
- Financial income -€587
down €587 (-13.6%), from €4,321 to €3,735
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €246,050 | €136,294 | -€109,756 | -44.6% |
| Fixed assets | 21/28 | €3,183 | €1,500 | -€1,683 | -52.9% |
| Tangible fixed assets | 22/27 | €3,183 | €1,500 | -€1,683 | -52.9% |
| Furniture and vehicles | 24 | €3,183 | €1,500 | -€1,683 | -52.9% |
| Current assets | 29/58 | €242,866 | €134,794 | -€108,073 | -44.5% |
| Amounts receivable after more than one year | 29 | €165,000 | €62,000 | -€103,000 | -62.4% |
| Trade receivables | 290 | €165,000 | €62,000 | -€103,000 | -62.4% |
| Amounts receivable within one year | 40/41 | €32,804 | €16,843 | -€15,961 | -48.7% |
| Trade receivables | 40 | €31,129 | €16,843 | -€14,286 | -45.9% |
| Other amounts receivable | 41 | €1,675 | - | -€1,675 | |
| Current investments | 50/53 | - | €27,928 | +€27,928 | |
| Cash at bank and in hand | 54/58 | €43,756 | €26,747 | -€17,009 | -38.9% |
| Deferred charges and accrued income | 490/1 | €1,307 | €1,276 | -€31 | -2.4% |
| Total equity and liabilities | 10/49 | €246,050 | €136,294 | -€109,756 | -44.6% |
| Equity | 10/15 | €231,864 | €116,003 | -€115,861 | -50.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €225,664 | €109,803 | -€115,861 | -51.3% |
| Distributable reserves | 133 | €225,664 | €109,803 | -€115,861 | -51.3% |
| Amounts payable | 17/49 | €14,186 | €20,291 | +€6,105 | +43.0% |
| Amounts payable within one year | 42/48 | €14,186 | €20,291 | +€6,105 | +43.0% |
| Financial debts | 43 | €461 | €542 | +€81 | +17.6% |
| Credit institutions | 430/8 | €461 | €542 | +€81 | +17.6% |
| Trade debts | 44 | €2,585 | €2,557 | -€27 | -1.1% |
| Suppliers | 440/4 | €2,585 | €2,557 | -€27 | -1.1% |
| Taxes, remuneration and social security | 45 | €7,605 | €12,099 | +€4,494 | +59.1% |
| Taxes | 450/3 | €7,605 | €12,099 | +€4,494 | +59.1% |
| Other amounts payable | 47/48 | €3,535 | €5,093 | +€1,558 | +44.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,683 | €1,683 | -€0 | 0.0% |
| Other operating charges | 640/8 | €440 | €453 | +€12 | +2.8% |
| Gross operating margin | 9900 | €3,890 | €53,074 | +€49,184 | +1,264% |
| Operating profit (loss) | 9901 | €1,766 | €50,938 | +€49,172 | +2,784% |
| Financial income | 75/76B | €4,321 | €3,735 | -€587 | -13.6% |
| Recurring financial income | 75 | €4,321 | €3,735 | -€587 | -13.6% |
| Financial charges | 65/66B | €1,834 | €2,263 | +€429 | +23.4% |
| Recurring financial charges | 65 | €1,834 | €2,263 | +€429 | +23.4% |
| Profit (loss) for the period before taxes | 9903 | €4,253 | €52,409 | +€48,156 | +1,132% |
| Income taxes | 67/77 | €1,842 | €15,083 | +€13,240 | +719% |
| Profit (loss) for the period | 9904 | €2,411 | €37,327 | +€34,916 | +1,448% |
| Profit (loss) for the period to be appropriated | 9905 | €2,411 | €37,327 | +€34,916 | +1,448% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.