WMAN: 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.
WMAN
Largest movements
- Tangible fixed assets +€93,943
up €93,943 (+25.2%), from €372,808 to €466,751
of which Land and buildings: +€109,400
- Cash +€17,522
up €17,522 (+65.8%), from €26,636 to €44,158
mainly Debts after one year (+€96,230) and Depreciation (+€39,739)
- Debts after one year +€96,230
up €96,230 (+43.3%), from €222,045 to €318,275
- Reserves +€15,325
up €15,325 (+32.6%), from €46,974 to €62,299
of which Distributable reserves: +€15,325
- Trade debts -€13,063
down €13,063 (-89.0%), from €14,672 to €1,610
of which Suppliers: -€13,063
- Tax, wage and social debts +€9,198
up €9,198 (+25.2%), from €36,513 to €45,711
of which Remuneration and social security: +€4,888
- Current portion of long-term debt +€5,372
up €5,372 (+23.0%), from €23,398 to €28,770
- Gross operating margin +€20,634
up €20,634 (+13.2%), from €156,790 to €177,424
- Staff costs +€13,041
up €13,041 (+14.9%), from €87,444 to €100,486
- Depreciation +€11,998
up €11,998 (+43.2%), from €27,741 to €39,739
- Financial charges +€1,977
up €1,977 (+29.2%), from €6,779 to €8,756
- Taxes -€1,817
down €1,817 (-16.1%), from €11,297 to €9,480
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 | €403,439 | €516,452 | +€113,012 | +28.0% |
| Fixed assets | 21/28 | €373,171 | €467,114 | +€93,943 | +25.2% |
| Tangible fixed assets | 22/27 | €372,808 | €466,751 | +€93,943 | +25.2% |
| Land and buildings | 22 | €292,543 | €401,943 | +€109,400 | +37.4% |
| Plant, machinery and equipment | 23 | €13,974 | €19,761 | +€5,787 | +41.4% |
| Furniture and vehicles | 24 | €66,291 | €45,047 | -€21,244 | -32.0% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €30,268 | €49,337 | +€19,069 | +63.0% |
| Amounts receivable within one year | 40/41 | €3,632 | €5,180 | +€1,548 | +42.6% |
| Trade receivables | 40 | €3,469 | €3,310 | -€159 | -4.6% |
| Other amounts receivable | 41 | €163 | €1,869 | +€1,706 | +1049.0% |
| Cash at bank and in hand | 54/58 | €26,636 | €44,158 | +€17,522 | +65.8% |
| Total equity and liabilities | 10/49 | €403,439 | €516,452 | +€113,012 | +28.0% |
| Equity | 10/15 | €106,160 | €121,485 | +€15,325 | +14.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €46,974 | €62,299 | +€15,325 | +32.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,114 | €60,439 | +€15,325 | +34.0% |
| Profit (loss) carried forward | 14 | €44,187 | €44,187 | = | 0.0% |
| Amounts payable | 17/49 | €297,279 | €394,966 | +€97,687 | +32.9% |
| Amounts payable after more than one year | 17 | €222,045 | €318,275 | +€96,230 | +43.3% |
| Financial debts | 170/4 | €222,045 | €318,275 | +€96,230 | +43.3% |
| Amounts payable within one year | 42/48 | €74,633 | €76,091 | +€1,458 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €23,398 | €28,770 | +€5,372 | +23.0% |
| Trade debts | 44 | €14,672 | €1,610 | -€13,063 | -89.0% |
| Suppliers | 440/4 | €13,612 | €550 | -€13,063 | -96.0% |
| Bills of exchange payable | 441 | €1,060 | €1,060 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €36,513 | €45,711 | +€9,198 | +25.2% |
| Taxes | 450/3 | €26,665 | €30,976 | +€4,310 | +16.2% |
| Remuneration and social security | 454/9 | €9,848 | €14,735 | +€4,888 | +49.6% |
| Other amounts payable | 47/48 | €50 | - | -€50 | |
| Accrued charges and deferred income | 492/3 | €600 | €600 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €87,444 | €100,486 | +€13,041 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,741 | €39,739 | +€11,998 | +43.2% |
| Other operating charges | 640/8 | €2,917 | €3,723 | +€806 | +27.6% |
| Gross operating margin | 9900 | €156,790 | €177,424 | +€20,634 | +13.2% |
| Operating profit (loss) | 9901 | €38,688 | €33,476 | -€5,211 | -13.5% |
| Financial income | 75/76B | €252 | €85 | -€167 | -66.3% |
| Recurring financial income | 75 | €252 | €85 | -€167 | -66.3% |
| Financial charges | 65/66B | €6,779 | €8,756 | +€1,977 | +29.2% |
| Recurring financial charges | 65 | €6,779 | €8,756 | +€1,977 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | €32,161 | €24,805 | -€7,355 | -22.9% |
| Income taxes | 67/77 | €11,297 | €9,480 | -€1,817 | -16.1% |
| Profit (loss) for the period | 9904 | €20,864 | €15,325 | -€5,539 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,864 | €15,325 | -€5,539 | -26.5% |
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 8 October 2026 via checked.be.