WN MANAGEMENT: 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.
WN MANAGEMENT
Largest movements
- Tangible fixed assets +€81,300
up €81,300 (+51.5%), from €157,936 to €239,236
of which Land and buildings: +€50,000
- Cash -€76,801
down €76,801 (-34.5%), from €222,438 to €145,637
mainly Investment in fixed assets (net) (-€104,198) and Contributions, distributions and other (-€47,059)
- Receivables within one year -€18,616
down €18,616 (-39.7%), from €46,849 to €28,233
of which Other amounts receivable: -€23,455
- Other debts -€36,279
down €36,279 (-43.5%), from €83,338 to €47,059
- Reserves +€25,103
up €25,103 (+7.8%), from €323,337 to €348,440
- Turnover -€45,534
down €45,534 (-81.4%), from €55,911 to €10,378
- Purchases and services -€29,937
down €29,937 (-45.6%), from €65,639 to €35,702
- Gross operating margin +€9,291
up €9,291 (+11.1%), from €83,739 to €93,030
- Depreciation +€8,172
up €8,172 (+55.5%), from €14,727 to €22,898
- Financial income -€7,113
down €7,113 (-64.8%), from €10,984 to €3,871
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 | €428,217 | €414,099 | -€14,118 | -3.3% |
| Fixed assets | 21/28 | €157,936 | €239,236 | +€81,300 | +51.5% |
| Tangible fixed assets | 22/27 | €157,936 | €239,236 | +€81,300 | +51.5% |
| Land and buildings | 22 | €96,340 | €146,340 | +€50,000 | +51.9% |
| Plant, machinery and equipment | 23 | - | €22,707 | +€22,707 | |
| Furniture and vehicles | 24 | €39,093 | €49,012 | +€9,919 | +25.4% |
| Other tangible fixed assets | 26 | €22,503 | €21,177 | -€1,326 | -5.9% |
| Financial fixed assets | 28 | €0 | €0 | = | |
| Current assets | 29/58 | €270,281 | €174,864 | -€95,418 | -35.3% |
| Amounts receivable within one year | 40/41 | €46,849 | €28,233 | -€18,616 | -39.7% |
| Trade receivables | 40 | €0 | €4,838 | +€4,838 | |
| Other amounts receivable | 41 | €46,849 | €23,395 | -€23,455 | -50.1% |
| Cash at bank and in hand | 54/58 | €222,438 | €145,637 | -€76,801 | -34.5% |
| Deferred charges and accrued income | 490/1 | €994 | €994 | = | 0.0% |
| Total equity and liabilities | 10/49 | €428,217 | €414,099 | -€14,118 | -3.3% |
| Equity | 10/15 | €341,937 | €367,040 | +€25,103 | +7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €323,337 | €348,440 | +€25,103 | +7.8% |
| Distributable reserves | 133 | €323,337 | €348,440 | +€25,103 | +7.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €86,280 | €47,059 | -€39,221 | -45.5% |
| Amounts payable within one year | 42/48 | €86,280 | €47,059 | -€39,221 | -45.5% |
| Trade debts | 44 | €1,335 | €0 | -€1,335 | -100% |
| Suppliers | 440/4 | €1,335 | €0 | -€1,335 | -100% |
| Taxes, remuneration and social security | 45 | €1,607 | €0 | -€1,607 | -100% |
| Taxes | 450/3 | €1,607 | €0 | -€1,607 | -100% |
| Other amounts payable | 47/48 | €83,338 | €47,059 | -€36,279 | -43.5% |
| Turnover | 70 | €55,911 | €10,378 | -€45,534 | -81.4% |
| Non-recurring operating income | 76A | €89,337 | €113,750 | +€24,413 | +27.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €65,639 | €35,702 | -€29,937 | -45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,727 | €22,898 | +€8,172 | +55.5% |
| Other operating charges | 640/8 | €200 | €241 | +€40 | +20.1% |
| Non-recurring operating charges | 66A | - | €1,465 | +€1,465 | |
| Gross operating margin | 9900 | €83,739 | €93,030 | +€9,291 | +11.1% |
| Operating profit (loss) | 9901 | €68,812 | €68,426 | -€386 | -0.6% |
| Financial income | 75/76B | €10,984 | €3,871 | -€7,113 | -64.8% |
| Recurring financial income | 75 | €10,984 | €3,871 | -€7,113 | -64.8% |
| Financial charges | 65/66B | €43 | €135 | +€93 | +218% |
| Recurring financial charges | 65 | €43 | €135 | +€93 | +218% |
| Profit (loss) for the period before taxes | 9903 | €79,754 | €72,162 | -€7,592 | -9.5% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €79,754 | €72,162 | -€7,592 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €79,754 | €72,162 | -€7,592 | -9.5% |
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 24 October 2026 via checked.be.