WNM: 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.
WNM
Largest movements
- Receivables within one year -€105,922
down €105,922 (-20.3%), from €522,331 to €416,408
of which Trade receivables: -€104,922
- Cash +€86,128
up €86,128 (+151.5%), from €56,832 to €142,961
mainly Other debts (+€199,534) and Receivables within one year (+€105,922)
- Tangible fixed assets +€32,510
up €32,510 (+14.9%), from €218,092 to €250,602
of which Other tangible fixed assets: +€55,499
- Other debts +€199,534
up €199,534 (+486.1%), from €41,051 to €240,585
- Accrued charges and deferred income -€113,973
down €113,973 (-97.0%), from €117,550 to €3,577
- Current portion of long-term debt -€41,836
down €41,836 (-63.4%), from €65,969 to €24,133
- Trade debts -€39,680
down €39,680 (-19.4%), from €204,041 to €164,361
- Debts after one year +€26,879
up €26,879 (+102.5%), from €26,229 to €53,108
- Gross operating margin +€48,853
up €48,853 (+35.3%), from €138,225 to €187,078
- Staff costs -€15,970
down €15,970 (-8.0%), from €200,847 to €184,877
- Depreciation -€4,209
down €4,209 (-6.3%), from €66,378 to €62,169
- Financial charges +€2,799
up €2,799 (+22.6%), from €12,359 to €15,158
of which Non-recurring financial charges: +€5,740
- Financial income +€2,623
up €2,623 (+4.5%), from €58,664 to €61,287
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 | €1,021,701 | €1,030,597 | +€8,896 | +0.9% |
| Fixed assets | 21/28 | €219,141 | €250,652 | +€31,510 | +14.4% |
| Tangible fixed assets | 22/27 | €218,092 | €250,602 | +€32,510 | +14.9% |
| Land and buildings | 22 | €51,500 | €51,500 | = | 0.0% |
| Plant, machinery and equipment | 23 | €86,616 | €77,008 | -€9,608 | -11.1% |
| Furniture and vehicles | 24 | €26,393 | €13,013 | -€13,380 | -50.7% |
| Other tangible fixed assets | 26 | €53,582 | €109,081 | +€55,499 | +103.6% |
| Financial fixed assets | 28 | €1,050 | €50 | -€1,000 | -95.3% |
| Current assets | 29/58 | €802,560 | €779,946 | -€22,614 | -2.8% |
| Stocks and contracts in progress | 3 | €205,718 | €203,420 | -€2,298 | -1.1% |
| Stocks | 30/36 | €205,718 | €203,420 | -€2,298 | -1.1% |
| Amounts receivable within one year | 40/41 | €522,331 | €416,408 | -€105,922 | -20.3% |
| Trade receivables | 40 | €521,331 | €416,408 | -€104,922 | -20.1% |
| Other amounts receivable | 41 | €1,000 | - | -€1,000 | |
| Cash at bank and in hand | 54/58 | €56,832 | €142,961 | +€86,128 | +151.5% |
| Deferred charges and accrued income | 490/1 | €17,679 | €17,157 | -€522 | -3.0% |
| Total equity and liabilities | 10/49 | €1,021,701 | €1,030,597 | +€8,896 | +0.9% |
| Equity | 10/15 | €382,226 | €354,659 | -€27,567 | -7.2% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €220,500 | €194,500 | -€26,000 | -11.8% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €168,000 | €142,000 | -€26,000 | -15.5% |
| Profit (loss) carried forward | 14 | €824 | €278 | -€546 | -66.3% |
| Investment grants | 15 | €10,902 | €9,881 | -€1,021 | -9.4% |
| Provisions and deferred taxes | 16 | €2,423 | €2,423 | = | 0.0% |
| Deferred taxes | 168 | €2,423 | €2,423 | = | 0.0% |
| Amounts payable | 17/49 | €637,053 | €673,516 | +€36,463 | +5.7% |
| Amounts payable after more than one year | 17 | €26,229 | €53,108 | +€26,879 | +102.5% |
| Financial debts | 170/4 | €26,229 | €53,108 | +€26,879 | +102.5% |
| Amounts payable within one year | 42/48 | €493,274 | €616,831 | +€123,557 | +25.0% |
| Current portion of amounts payable after more than one year | 42 | €65,969 | €24,133 | -€41,836 | -63.4% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Other loans | 439 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €204,041 | €164,361 | -€39,680 | -19.4% |
| Suppliers | 440/4 | €204,041 | €164,361 | -€39,680 | -19.4% |
| Taxes, remuneration and social security | 45 | €57,213 | €62,753 | +€5,540 | +9.7% |
| Taxes | 450/3 | €23,241 | €26,829 | +€3,588 | +15.4% |
| Remuneration and social security | 454/9 | €33,972 | €35,924 | +€1,952 | +5.7% |
| Other amounts payable | 47/48 | €41,051 | €240,585 | +€199,534 | +486.1% |
| Accrued charges and deferred income | 492/3 | €117,550 | €3,577 | -€113,973 | -97.0% |
| Remuneration, social security and pensions | 62 | €200,847 | €184,877 | -€15,970 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,378 | €62,169 | -€4,209 | -6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€980 | -€1,532 | -€551 | -56.2% |
| Other operating charges | 640/8 | €12,951 | €13,353 | +€402 | +3.1% |
| Gross operating margin | 9900 | €138,225 | €187,078 | +€48,853 | +35.3% |
| Operating profit (loss) | 9901 | -€140,971 | -€71,790 | +€69,181 | +49.1% |
| Financial income | 75/76B | €58,664 | €61,287 | +€2,623 | +4.5% |
| Recurring financial income | 75 | €58,664 | €61,287 | +€2,623 | +4.5% |
| Financial charges | 65/66B | €12,359 | €15,158 | +€2,799 | +22.6% |
| Recurring financial charges | 65 | €12,359 | €9,418 | -€2,941 | -23.8% |
| Non-recurring financial charges | 66B | - | €5,740 | +€5,740 | |
| Profit (loss) for the period before taxes | 9903 | -€94,666 | -€25,661 | +€69,005 | +72.9% |
| Transfer from deferred taxes | 780 | €413 | - | -€413 | |
| Income taxes | 67/77 | €964 | €885 | -€79 | -8.2% |
| Profit (loss) for the period | 9904 | -€95,217 | -€26,546 | +€68,671 | +72.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€95,217 | -€26,546 | +€68,671 | +72.1% |
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 10 October 2026 via checked.be.