WMW: 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.
WMW
Largest movements
- Tangible fixed assets -€91,359
down €91,359 (-27.5%), from €331,719 to €240,359
of which Plant, machinery and equipment: -€86,346
- Receivables within one year +€58,419
up €58,419 (+357%), from €16,350 to €74,769
of which Trade receivables: +€57,719
- Stocks and contracts -€21,200
down €21,200 (-67.3%), from €31,500 to €10,300
- Profit (loss) carried forward +€110,502
up €110,502 (+54.7%), from -€201,850 to -€91,348
- Trade debts -€85,512
down €85,512 (-37.8%), from €226,378 to €140,866
- Other debts -€60,996
down €60,996 (-83.2%), from €73,297 to €12,301
- Debts after one year -€27,244
no longer reported in 2025 (was €27,244)
- Tax, wage and social debts +€26,688
up €26,688 (+16.5%), from €161,937 to €188,626
of which Taxes: +€59,164
- Gross operating margin +€159,773
up €159,773 (+78.9%), from €202,565 to €362,338
- Depreciation -€69,053
down €69,053 (-42.9%), from €161,144 to €92,091
- Other operating charges +€38,979
up €38,979 (+45.4%), from €85,815 to €124,794
- Staff costs -€20,265
down €20,265 (-96.3%), from €21,039 to €774
- Financial charges -€10,172
down €10,172 (-46.0%), from €22,095 to €11,923
of which Non-recurring financial charges: -€7,629
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 | €382,769 | €329,388 | -€53,381 | -13.9% |
| Fixed assets | 21/28 | €332,657 | €240,698 | -€91,959 | -27.6% |
| Intangible fixed assets | 21 | €939 | €339 | -€600 | -63.9% |
| Tangible fixed assets | 22/27 | €331,719 | €240,359 | -€91,359 | -27.5% |
| Plant, machinery and equipment | 23 | €324,810 | €238,464 | -€86,346 | -26.6% |
| Furniture and vehicles | 24 | €6,909 | €1,895 | -€5,013 | -72.6% |
| Current assets | 29/58 | €50,112 | €88,690 | +€38,578 | +77.0% |
| Stocks and contracts in progress | 3 | €31,500 | €10,300 | -€21,200 | -67.3% |
| Stocks | 30/36 | €31,500 | €10,300 | -€21,200 | -67.3% |
| Amounts receivable within one year | 40/41 | €16,350 | €74,769 | +€58,419 | +357% |
| Trade receivables | 40 | €2,350 | €60,069 | +€57,719 | +2,456% |
| Other amounts receivable | 41 | €14,000 | €14,700 | +€700 | +5.0% |
| Cash at bank and in hand | 54/58 | €2,261 | €3,621 | +€1,359 | +60.1% |
| Total equity and liabilities | 10/49 | €382,769 | €329,388 | -€53,381 | -13.9% |
| Equity | 10/15 | -€181,850 | -€71,348 | +€110,502 | +60.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€201,850 | -€91,348 | +€110,502 | +54.7% |
| Amounts payable | 17/49 | €564,619 | €400,736 | -€163,883 | -29.0% |
| Amounts payable after more than one year | 17 | €27,244 | - | -€27,244 | |
| Financial debts | 170/4 | €27,244 | - | -€27,244 | |
| Amounts payable within one year | 42/48 | €537,375 | €399,036 | -€138,339 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €75,443 | €57,244 | -€18,199 | -24.1% |
| Financial debts | 43 | €320 | - | -€320 | |
| Credit institutions | 430/8 | €320 | - | -€320 | |
| Trade debts | 44 | €226,378 | €140,866 | -€85,512 | -37.8% |
| Suppliers | 440/4 | €226,378 | €140,866 | -€85,512 | -37.8% |
| Taxes, remuneration and social security | 45 | €161,937 | €188,626 | +€26,688 | +16.5% |
| Taxes | 450/3 | €129,462 | €188,626 | +€59,164 | +45.7% |
| Remuneration and social security | 454/9 | €32,475 | - | -€32,475 | |
| Other amounts payable | 47/48 | €73,297 | €12,301 | -€60,996 | -83.2% |
| Accrued charges and deferred income | 492/3 | - | €1,700 | +€1,700 | |
| Non-recurring operating income | 76A | - | €47,535 | +€47,535 | |
| Remuneration, social security and pensions | 62 | €21,039 | €774 | -€20,265 | -96.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,144 | €92,091 | -€69,053 | -42.9% |
| Other operating charges | 640/8 | €85,815 | €124,794 | +€38,979 | +45.4% |
| Non-recurring operating charges | 66A | €2,299 | €22,254 | +€19,955 | +868% |
| Gross operating margin | 9900 | €202,565 | €362,338 | +€159,773 | +78.9% |
| Operating profit (loss) | 9901 | -€67,732 | €122,425 | +€190,157 | |
| Financial income | 75/76B | €2 | €0 | -€2 | -96.6% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -96.6% |
| Financial charges | 65/66B | €22,095 | €11,923 | -€10,172 | -46.0% |
| Recurring financial charges | 65 | €5,875 | €3,332 | -€2,543 | -43.3% |
| Non-recurring financial charges | 66B | €16,220 | €8,591 | -€7,629 | -47.0% |
| Profit (loss) for the period before taxes | 9903 | -€89,825 | €110,502 | +€200,327 | |
| Income taxes | 67/77 | €158 | - | -€158 | |
| Profit (loss) for the period | 9904 | -€89,983 | €110,502 | +€200,485 | |
| Profit (loss) for the period to be appropriated | 9905 | -€89,983 | €110,502 | +€200,485 |
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 18 October 2026 via checked.be.