WMB: 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.
WMB
Largest movements
- Receivables within one year +€10,064
up €10,064 (+14.6%), from €68,740 to €78,804
of which Trade receivables: +€24,721
- Tangible fixed assets -€3,400
down €3,400 (-50.0%), from €6,794 to €3,394
- Intangible fixed assets -€2,429
down €2,429 (-100%), from €2,429 to €0
- Cash +€1,278
up €1,278, from €0 to €1,278
mainly Net result for the year (+€41,926) and Tax, wage and social debts (+€9,040)
- Financial fixed assets +€900
new in 2025: €900
- Profit (loss) carried forward +€41,926
up €41,926 (+79.0%), from -€53,046 to -€11,120
- Debts after one year -€26,000
down €26,000 (-65.0%), from €40,000 to €14,000
- Trade debts -€14,235
down €14,235 (-20.0%), from €71,291 to €57,056
- Tax, wage and social debts +€9,040
up €9,040 (+213%), from €4,251 to €13,290
of which Taxes: +€7,840
- Short-term financial debts -€2,634
down €2,634 (-100%), from €2,634 to €0
- Gross operating margin +€69,067
up €69,067, from -€7,351 to €61,717
- Taxes +€5,511
up €5,511 (+2,122%), from €260 to €5,771
- Other operating charges -€2,280
down €2,280 (-35.7%), from €6,379 to €4,099
- Depreciation -€1,141
down €1,141 (-25.1%), from €4,541 to €3,400
- Financial charges +€897
up €897 (+17.4%), from €5,144 to €6,040
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 | €80,344 | €86,381 | +€6,037 | +7.5% |
| Fixed assets | 21/28 | €9,223 | €4,294 | -€4,929 | -53.4% |
| Intangible fixed assets | 21 | €2,429 | €0 | -€2,429 | -100% |
| Tangible fixed assets | 22/27 | €6,794 | €3,394 | -€3,400 | -50.0% |
| Furniture and vehicles | 24 | €6,794 | €3,394 | -€3,400 | -50.0% |
| Financial fixed assets | 28 | - | €900 | +€900 | |
| Current assets | 29/58 | €71,121 | €82,087 | +€10,966 | +15.4% |
| Amounts receivable within one year | 40/41 | €68,740 | €78,804 | +€10,064 | +14.6% |
| Trade receivables | 40 | €25,129 | €49,851 | +€24,721 | +98.4% |
| Other amounts receivable | 41 | €43,611 | €28,954 | -€14,657 | -33.6% |
| Cash at bank and in hand | 54/58 | €0 | €1,278 | +€1,278 | |
| Deferred charges and accrued income | 490/1 | €2,381 | €2,005 | -€376 | -15.8% |
| Total equity and liabilities | 10/49 | €80,344 | €86,381 | +€6,037 | +7.5% |
| Equity | 10/15 | -€40,646 | €1,280 | +€41,926 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,046 | -€11,120 | +€41,926 | +79.0% |
| Amounts payable | 17/49 | €120,990 | €85,101 | -€35,889 | -29.7% |
| Amounts payable after more than one year | 17 | €40,000 | €14,000 | -€26,000 | -65.0% |
| Financial debts | 170/4 | €40,000 | €14,000 | -€26,000 | -65.0% |
| Amounts payable within one year | 42/48 | €78,176 | €70,346 | -€7,829 | -10.0% |
| Financial debts | 43 | €2,634 | €0 | -€2,634 | -100% |
| Credit institutions | 430/8 | €2,634 | €0 | -€2,634 | -100% |
| Trade debts | 44 | €71,291 | €57,056 | -€14,235 | -20.0% |
| Suppliers | 440/4 | €71,291 | €57,056 | -€14,235 | -20.0% |
| Taxes, remuneration and social security | 45 | €4,251 | €13,290 | +€9,040 | +213% |
| Taxes | 450/3 | €4,251 | €12,090 | +€7,840 | +184% |
| Remuneration and social security | 454/9 | - | €1,200 | +€1,200 | |
| Accrued charges and deferred income | 492/3 | €2,814 | €755 | -€2,060 | -73.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,541 | €3,400 | -€1,141 | -25.1% |
| Other operating charges | 640/8 | €6,379 | €4,099 | -€2,280 | -35.7% |
| Non-recurring operating charges | 66A | - | €2,429 | +€2,429 | |
| Gross operating margin | 9900 | -€7,351 | €61,717 | +€69,067 | |
| Operating profit (loss) | 9901 | -€18,271 | €51,788 | +€70,059 | |
| Financial income | 75/76B | €2,448 | €1,949 | -€499 | -20.4% |
| Recurring financial income | 75 | €2,448 | €1,949 | -€499 | -20.4% |
| Financial charges | 65/66B | €5,144 | €6,040 | +€897 | +17.4% |
| Recurring financial charges | 65 | €5,144 | €6,040 | +€897 | +17.4% |
| Profit (loss) for the period before taxes | 9903 | -€20,967 | €47,697 | +€68,664 | |
| Income taxes | 67/77 | €260 | €5,771 | +€5,511 | +2,122% |
| Profit (loss) for the period | 9904 | -€21,226 | €41,926 | +€63,153 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,226 | €41,926 | +€63,153 |
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 13 October 2026 via checked.be.