WM & FB: 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.
WM & FB
Largest movements
- Tangible fixed assets +€18,661
up €18,661 (+68.4%), from €27,275 to €45,935
- Cash +€9,422
up €9,422 (+52.0%), from €18,131 to €27,553
mainly Debts after one year (+€37,420) and Current portion of long-term debt (+€8,750)
- Receivables within one year +€6,321
up €6,321 (+158.6%), from €3,985 to €10,306
of which Other amounts receivable: +€10,306
- Debts after one year +€37,420
new in 2025: €37,420
- Profit (loss) carried forward -€10,854
down €10,854, from €479 to -€10,375
- Current portion of long-term debt +€8,750
new in 2025: €8,750
- Other debts -€3,332
down €3,332 (-8.4%), from €39,591 to €36,259
- Trade debts +€1,969
up €1,969 (+24.2%), from €8,129 to €10,099
- Other operating charges +€28,488
up €28,488 (+7013.2%), from €406 to €28,894
- Gross operating margin +€10,953
up €10,953 (+119.8%), from €9,143 to €20,096
- Depreciation -€4,775
down €4,775 (-80.4%), from €5,935 to €1,161
- Financial charges +€519
up €519 (+210.5%), from €246 to €765
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 | €50,208 | €84,162 | +€33,953 | +67.6% |
| Formation expenses | 20 | €578 | €368 | -€210 | -36.4% |
| Fixed assets | 21/28 | €27,275 | €45,935 | +€18,661 | +68.4% |
| Tangible fixed assets | 22/27 | €27,275 | €45,935 | +€18,661 | +68.4% |
| Furniture and vehicles | 24 | €27,275 | €45,935 | +€18,661 | +68.4% |
| Current assets | 29/58 | €22,356 | €37,859 | +€15,503 | +69.3% |
| Amounts receivable within one year | 40/41 | €3,985 | €10,306 | +€6,321 | +158.6% |
| Trade receivables | 40 | €3,985 | - | -€3,985 | |
| Other amounts receivable | 41 | - | €10,306 | +€10,306 | |
| Cash at bank and in hand | 54/58 | €18,131 | €27,553 | +€9,422 | +52.0% |
| Deferred charges and accrued income | 490/1 | €240 | - | -€240 | |
| Total equity and liabilities | 10/49 | €50,208 | €84,162 | +€33,953 | +67.6% |
| Equity | 10/15 | €2,479 | -€8,375 | -€10,854 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €479 | -€10,375 | -€10,854 | |
| Amounts payable | 17/49 | €47,729 | €92,537 | +€44,808 | +93.9% |
| Amounts payable after more than one year | 17 | - | €37,420 | +€37,420 | |
| Financial debts | 170/4 | - | €37,420 | +€37,420 | |
| Amounts payable within one year | 42/48 | €47,729 | €55,108 | +€7,379 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | - | €8,750 | +€8,750 | |
| Trade debts | 44 | €8,129 | €10,099 | +€1,969 | +24.2% |
| Suppliers | 440/4 | €8,129 | €10,099 | +€1,969 | +24.2% |
| Taxes, remuneration and social security | 45 | €8 | - | -€8 | |
| Taxes | 450/3 | €8 | - | -€8 | |
| Other amounts payable | 47/48 | €39,591 | €36,259 | -€3,332 | -8.4% |
| Accrued charges and deferred income | 492/3 | - | €9 | +€9 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,935 | €1,161 | -€4,775 | -80.4% |
| Other operating charges | 640/8 | €406 | €28,894 | +€28,488 | +7013.2% |
| Gross operating margin | 9900 | €9,143 | €20,096 | +€10,953 | +119.8% |
| Operating profit (loss) | 9901 | €2,802 | -€9,958 | -€12,760 | |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €246 | €765 | +€519 | +210.5% |
| Recurring financial charges | 65 | €246 | €765 | +€519 | +210.5% |
| Profit (loss) for the period before taxes | 9903 | €2,559 | -€10,723 | -€13,283 | |
| Income taxes | 67/77 | - | €131 | +€131 | |
| Profit (loss) for the period | 9904 | €2,559 | -€10,854 | -€13,414 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,559 | -€10,854 | -€13,414 |
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 2 October 2026 via checked.be.