WMC: 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.
WMC
Largest movements
- Stocks and contracts -€408,215
down €408,215 (-25.6%), from €1.6m to €1.2m
of which Contracts in progress: -€294,094
- Cash +€352,194
up €352,194 (+2,885%), from €12,209 to €364,403
mainly Stocks and contracts (+€408,215) and Receivables within one year (+€318,607)
- Receivables within one year -€318,607
down €318,607 (-59.1%), from €538,705 to €220,098
of which Trade receivables: -€302,882
- Trade debts -€217,802
down €217,802 (-56.1%), from €388,480 to €170,679
- Current portion of long-term debt -€184,838
down €184,838 (-20.7%), from €894,300 to €709,462
- Other debts -€26,979
down €26,979 (-17.4%), from €154,966 to €127,986
- Gross operating margin -€72,729
down €72,729 (-24.9%), from €291,550 to €218,821
- Financial income -€37,692
down €37,692 (-96.3%), from €39,150 to €1,458
- Financial charges +€27,078
up €27,078 (+24.9%), from €108,545 to €135,623
- Taxes -€25,284
down €25,284 (-81.6%), from €30,970 to €5,686
- Other operating charges +€8,709
up €8,709 (+1,870%), from €466 to €9,175
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 | €2,463,733 | €2,066,080 | -€397,653 | -16.1% |
| Fixed assets | 21/28 | €33,219 | €31,188 | -€2,031 | -6.1% |
| Tangible fixed assets | 22/27 | €33,219 | €31,188 | -€2,031 | -6.1% |
| Land and buildings | 22 | €4,928 | €4,185 | -€743 | -15.1% |
| Plant, machinery and equipment | 23 | €25,243 | €25,000 | -€243 | -1.0% |
| Furniture and vehicles | 24 | €3,048 | €2,003 | -€1,045 | -34.3% |
| Current assets | 29/58 | €2,430,514 | €2,034,892 | -€395,622 | -16.3% |
| Stocks and contracts in progress | 3 | €1,592,660 | €1,184,445 | -€408,215 | -25.6% |
| Stocks | 30/36 | €471,661 | €357,540 | -€114,121 | -24.2% |
| Contracts in progress | 37 | €1,120,999 | €826,905 | -€294,094 | -26.2% |
| Amounts receivable within one year | 40/41 | €538,705 | €220,098 | -€318,607 | -59.1% |
| Trade receivables | 40 | €489,913 | €187,031 | -€302,882 | -61.8% |
| Other amounts receivable | 41 | €48,792 | €33,067 | -€15,725 | -32.2% |
| Current investments | 50/53 | €141,865 | €141,865 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,209 | €364,403 | +€352,194 | +2,885% |
| Deferred charges and accrued income | 490/1 | €145,075 | €124,082 | -€20,994 | -14.5% |
| Total equity and liabilities | 10/49 | €2,463,733 | €2,066,080 | -€397,653 | -16.1% |
| Equity | 10/15 | €962,899 | €972,933 | +€10,034 | +1.0% |
| Contributions | 10/11 | €61,449 | €61,449 | = | 0.0% |
| Revaluation surpluses | 12 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €336,644 | €346,678 | +€10,034 | +3.0% |
| Non-distributable reserves | 130/1 | €125,300 | €125,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €125,300 | €125,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €70,000 | €70,000 | = | 0.0% |
| Distributable reserves | 133 | €141,344 | €151,378 | +€10,034 | +7.1% |
| Profit (loss) carried forward | 14 | €539,806 | €539,806 | = | 0.0% |
| Amounts payable | 17/49 | €1,500,834 | €1,093,147 | -€407,687 | -27.2% |
| Amounts payable within one year | 42/48 | €1,485,126 | €1,059,056 | -€426,071 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €894,300 | €709,462 | -€184,838 | -20.7% |
| Trade debts | 44 | €388,480 | €170,679 | -€217,802 | -56.1% |
| Suppliers | 440/4 | €388,480 | €170,679 | -€217,802 | -56.1% |
| Taxes, remuneration and social security | 45 | €47,380 | €50,929 | +€3,549 | +7.5% |
| Taxes | 450/3 | €36,670 | €39,256 | +€2,586 | +7.1% |
| Remuneration and social security | 454/9 | €10,710 | €11,673 | +€963 | +9.0% |
| Other amounts payable | 47/48 | €154,966 | €127,986 | -€26,979 | -17.4% |
| Accrued charges and deferred income | 492/3 | €15,708 | €34,092 | +€18,384 | +117% |
| Remuneration, social security and pensions | 62 | €52,382 | €57,730 | +€5,348 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,138 | €2,031 | -€1,107 | -35.3% |
| Other operating charges | 640/8 | €466 | €9,175 | +€8,709 | +1,870% |
| Gross operating margin | 9900 | €291,550 | €218,821 | -€72,729 | -24.9% |
| Operating profit (loss) | 9901 | €235,564 | €149,886 | -€85,679 | -36.4% |
| Financial income | 75/76B | €39,150 | €1,458 | -€37,692 | -96.3% |
| Recurring financial income | 75 | €39,150 | €1,458 | -€37,692 | -96.3% |
| Financial charges | 65/66B | €108,545 | €135,623 | +€27,078 | +24.9% |
| Recurring financial charges | 65 | €108,545 | €135,623 | +€27,078 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | €166,169 | €15,720 | -€150,449 | -90.5% |
| Income taxes | 67/77 | €30,970 | €5,686 | -€25,284 | -81.6% |
| Profit (loss) for the period | 9904 | €135,199 | €10,034 | -€125,165 | -92.6% |
| Profit (loss) for the period to be appropriated | 9905 | €135,199 | €10,034 | -€125,165 | -92.6% |
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 14 October 2026 via checked.be.