WMGC: 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.
WMGC
Largest movements
- Tangible fixed assets -€10,553
down €10,553 (-65.6%), from €16,096 to €5,542
of which Furniture and vehicles: -€9,921
- Cash +€8,146
up €8,146 (+6.5%), from €126,205 to €134,350
mainly Net result for the year (+€34,782) and Receivables within one year (+€7,379)
- Receivables within one year -€7,379
down €7,379 (-35.9%), from €20,539 to €13,160
of which Trade receivables: -€5,674
- Current portion of long-term debt -€6,362
down €6,362 (-100.0%), from €6,362 to €0
- Tax, wage and social debts -€4,873
down €4,873 (-28.3%), from €17,199 to €12,326
- Reserves +€2,518
up €2,518 (+2.4%), from €106,887 to €109,405
of which Distributable reserves: +€2,518
- Other debts -€2,199
down €2,199 (-6.8%), from €32,461 to €30,262
- Gross operating margin -€17,313
down €17,313 (-24.5%), from €70,623 to €53,310
- Depreciation -€6,668
down €6,668 (-59.4%), from €11,223 to €4,555
- Taxes -€2,239
down €2,239 (-15.6%), from €14,385 to €12,146
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 | €166,333 | €155,134 | -€11,199 | -6.7% |
| Fixed assets | 21/28 | €16,136 | €5,582 | -€10,553 | -65.4% |
| Tangible fixed assets | 22/27 | €16,096 | €5,542 | -€10,553 | -65.6% |
| Plant, machinery and equipment | 23 | €346 | €0 | -€346 | -100.0% |
| Furniture and vehicles | 24 | €13,191 | €3,270 | -€9,921 | -75.2% |
| Other tangible fixed assets | 26 | €2,559 | €2,273 | -€286 | -11.2% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €150,197 | €149,552 | -€646 | -0.4% |
| Amounts receivable within one year | 40/41 | €20,539 | €13,160 | -€7,379 | -35.9% |
| Trade receivables | 40 | €17,896 | €12,223 | -€5,674 | -31.7% |
| Other amounts receivable | 41 | €2,643 | €937 | -€1,705 | -64.5% |
| Cash at bank and in hand | 54/58 | €126,205 | €134,350 | +€8,146 | +6.5% |
| Deferred charges and accrued income | 490/1 | €3,454 | €2,042 | -€1,413 | -40.9% |
| Total equity and liabilities | 10/49 | €166,333 | €155,134 | -€11,199 | -6.7% |
| Equity | 10/15 | €108,487 | €111,005 | +€2,518 | +2.3% |
| Contributions | 10/11 | €1,600 | €1,600 | = | 0.0% |
| Reserves | 13 | €106,887 | €109,405 | +€2,518 | +2.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,505 | €1,505 | = | 0.0% |
| Distributable reserves | 133 | €103,522 | €106,040 | +€2,518 | +2.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €57,846 | €44,129 | -€13,717 | -23.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €57,846 | €44,129 | -€13,717 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €6,362 | €0 | -€6,362 | -100.0% |
| Financial debts | 43 | €130 | €0 | -€130 | -100.0% |
| Credit institutions | 430/8 | €130 | €0 | -€130 | -100.0% |
| Trade debts | 44 | €1,694 | €1,541 | -€152 | -9.0% |
| Suppliers | 440/4 | €1,694 | €1,541 | -€152 | -9.0% |
| Taxes, remuneration and social security | 45 | €17,199 | €12,326 | -€4,873 | -28.3% |
| Taxes | 450/3 | €17,199 | €12,326 | -€4,873 | -28.3% |
| Other amounts payable | 47/48 | €32,461 | €30,262 | -€2,199 | -6.8% |
| Non-recurring operating income | 76A | - | €10,203 | +€10,203 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,223 | €4,555 | -€6,668 | -59.4% |
| Other operating charges | 640/8 | €846 | €710 | -€136 | -16.1% |
| Gross operating margin | 9900 | €70,623 | €53,310 | -€17,313 | -24.5% |
| Operating profit (loss) | 9901 | €58,553 | €48,045 | -€10,508 | -17.9% |
| Financial income | 75/76B | €304 | €18 | -€286 | -94.0% |
| Recurring financial income | 75 | €304 | €18 | -€286 | -94.0% |
| Financial charges | 65/66B | €666 | €1,136 | +€469 | +70.5% |
| Recurring financial charges | 65 | €666 | €1,136 | +€469 | +70.5% |
| Profit (loss) for the period before taxes | 9903 | €58,191 | €46,928 | -€11,263 | -19.4% |
| Income taxes | 67/77 | €14,385 | €12,146 | -€2,239 | -15.6% |
| Profit (loss) for the period | 9904 | €43,806 | €34,782 | -€9,024 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €43,806 | €34,782 | -€9,024 | -20.6% |
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 6 October 2026 via checked.be.