WM Nord: 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 Nord
Largest movements
- Cash -€50,468
down €50,468 (-99.8%), from €50,565 to €97
mainly Other debts (-€88,852) and Contributions, distributions and other (-€55,000)
- Tangible fixed assets -€14,390
down €14,390 (-26.8%), from €53,615 to €39,225
of which Furniture and vehicles: -€12,679
- Receivables within one year +€4,318
up €4,318 (+51.2%), from €8,438 to €12,756
of which Trade receivables: +€5,175
- Other debts -€88,852
down €88,852 (-98.9%), from €89,826 to €975
- Profit (loss) carried forward +€28,127
up €28,127 (+113%), from €25,000 to €53,127
- Gross operating margin +€44,588
up €44,588 (+53.8%), from €82,831 to €127,419
- Taxes +€11,167
up €11,167 (+63.2%), from €17,657 to €28,824
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 | €118,197 | €57,874 | -€60,323 | -51.0% |
| Formation expenses | 20 | €713 | €575 | -€138 | -19.3% |
| Fixed assets | 21/28 | €53,615 | €39,225 | -€14,390 | -26.8% |
| Tangible fixed assets | 22/27 | €53,615 | €39,225 | -€14,390 | -26.8% |
| Plant, machinery and equipment | 23 | €8,053 | €6,591 | -€1,462 | -18.2% |
| Furniture and vehicles | 24 | €43,628 | €30,950 | -€12,679 | -29.1% |
| Other tangible fixed assets | 26 | €1,933 | €1,685 | -€248 | -12.9% |
| Current assets | 29/58 | €63,869 | €18,073 | -€45,796 | -71.7% |
| Amounts receivable within one year | 40/41 | €8,438 | €12,756 | +€4,318 | +51.2% |
| Trade receivables | 40 | €5,905 | €11,080 | +€5,175 | +87.6% |
| Other amounts receivable | 41 | €2,533 | €1,676 | -€857 | -33.8% |
| Cash at bank and in hand | 54/58 | €50,565 | €97 | -€50,468 | -99.8% |
| Deferred charges and accrued income | 490/1 | €4,866 | €5,220 | +€354 | +7.3% |
| Total equity and liabilities | 10/49 | €118,197 | €57,874 | -€60,323 | -51.0% |
| Equity | 10/15 | €27,000 | €55,127 | +€28,127 | +104% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,000 | €53,127 | +€28,127 | +113% |
| Amounts payable | 17/49 | €91,197 | €2,746 | -€88,450 | -97.0% |
| Amounts payable within one year | 42/48 | €91,197 | €2,746 | -€88,450 | -97.0% |
| Trade debts | 44 | €1,370 | €1,772 | +€401 | +29.3% |
| Suppliers | 440/4 | €1,370 | €1,772 | +€401 | +29.3% |
| Other amounts payable | 47/48 | €89,826 | €975 | -€88,852 | -98.9% |
| Non-recurring operating income | 76A | - | €1,094 | +€1,094 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,976 | €14,527 | +€551 | +3.9% |
| Other operating charges | 640/8 | €1,083 | €788 | -€296 | -27.3% |
| Gross operating margin | 9900 | €82,831 | €127,419 | +€44,588 | +53.8% |
| Operating profit (loss) | 9901 | €67,771 | €112,104 | +€44,332 | +65.4% |
| Financial charges | 65/66B | €151 | €152 | +€1 | +0.5% |
| Recurring financial charges | 65 | €151 | €152 | +€1 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €67,620 | €111,952 | +€44,332 | +65.6% |
| Income taxes | 67/77 | €17,657 | €28,824 | +€11,167 | +63.2% |
| Profit (loss) for the period | 9904 | €49,963 | €83,127 | +€33,165 | +66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €49,963 | €83,127 | +€33,165 | +66.4% |
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 24 October 2026 via checked.be.