WNP: 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.
WNP
Largest movements
- Tangible fixed assets -€38,077
down €38,077 (-5.4%), from €709,176 to €671,099
of which Land and buildings: -€31,542
- Cash -€28,109
down €28,109 (-38.9%), from €72,252 to €44,143
mainly Debts after one year (-€71,485) and Other debts (-€22,057)
- Receivables within one year +€14,414
up €14,414 (+74.8%), from €19,259 to €33,674
of which Trade receivables: +€13,513
- Debts after one year -€71,485
down €71,485 (-18.0%), from €397,188 to €325,703
- Reserves +€27,732
up €27,732 (+10.7%), from €258,867 to €286,599
- Other debts -€22,057
down €22,057 (-34.4%), from €64,188 to €42,131
- Trade debts +€13,246
up €13,246 (+112%), from €11,877 to €25,123
- Depreciation -€7,118
down €7,118 (-13.9%), from €51,043 to €43,925
- Gross operating margin +€4,385
up €4,385 (+4.1%), from €107,569 to €111,955
- Taxes +€2,296
up €2,296 (+30.1%), from €7,616 to €9,912
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 | €828,590 | €774,023 | -€54,567 | -6.6% |
| Fixed assets | 21/28 | €733,776 | €695,699 | -€38,077 | -5.2% |
| Tangible fixed assets | 22/27 | €709,176 | €671,099 | -€38,077 | -5.4% |
| Land and buildings | 22 | €653,474 | €621,932 | -€31,542 | -4.8% |
| Plant, machinery and equipment | 23 | €49,788 | €45,184 | -€4,604 | -9.2% |
| Furniture and vehicles | 24 | €5,913 | €3,983 | -€1,930 | -32.6% |
| Financial fixed assets | 28 | €24,600 | €24,600 | = | 0.0% |
| Current assets | 29/58 | €94,814 | €78,324 | -€16,490 | -17.4% |
| Amounts receivable within one year | 40/41 | €19,259 | €33,674 | +€14,414 | +74.8% |
| Trade receivables | 40 | €8,188 | €21,702 | +€13,513 | +165% |
| Other amounts receivable | 41 | €11,071 | €11,972 | +€901 | +8.1% |
| Cash at bank and in hand | 54/58 | €72,252 | €44,143 | -€28,109 | -38.9% |
| Deferred charges and accrued income | 490/1 | €3,302 | €507 | -€2,795 | -84.6% |
| Total equity and liabilities | 10/49 | €828,590 | €774,023 | -€54,567 | -6.6% |
| Equity | 10/15 | €277,467 | €305,199 | +€27,732 | +10.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €258,867 | €286,599 | +€27,732 | +10.7% |
| Distributable reserves | 133 | €258,867 | €286,599 | +€27,732 | +10.7% |
| Amounts payable | 17/49 | €551,122 | €468,823 | -€82,299 | -14.9% |
| Amounts payable after more than one year | 17 | €397,188 | €325,703 | -€71,485 | -18.0% |
| Financial debts | 170/4 | €397,188 | €325,703 | -€71,485 | -18.0% |
| Amounts payable within one year | 42/48 | €153,934 | €143,120 | -€10,814 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €72,005 | €71,273 | -€732 | -1.0% |
| Financial debts | 43 | - | €2,556 | +€2,556 | |
| Credit institutions | 430/8 | - | €2,556 | +€2,556 | |
| Trade debts | 44 | €11,877 | €25,123 | +€13,246 | +112% |
| Suppliers | 440/4 | €11,877 | €25,123 | +€13,246 | +112% |
| Taxes, remuneration and social security | 45 | €5,864 | €2,037 | -€3,827 | -65.3% |
| Taxes | 450/3 | €5,864 | €2,037 | -€3,827 | -65.3% |
| Other amounts payable | 47/48 | €64,188 | €42,131 | -€22,057 | -34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,043 | €43,925 | -€7,118 | -13.9% |
| Other operating charges | 640/8 | €6,362 | €6,367 | +€5 | +0.1% |
| Gross operating margin | 9900 | €107,569 | €111,955 | +€4,385 | +4.1% |
| Operating profit (loss) | 9901 | €50,164 | €61,663 | +€11,498 | +22.9% |
| Financial income | 75/76B | €386 | €395 | +€9 | +2.4% |
| Recurring financial income | 75 | €386 | €395 | +€9 | +2.4% |
| Financial charges | 65/66B | €10,443 | €9,414 | -€1,029 | -9.9% |
| Recurring financial charges | 65 | €10,443 | €9,414 | -€1,029 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €40,107 | €52,644 | +€12,537 | +31.3% |
| Income taxes | 67/77 | €7,616 | €9,912 | +€2,296 | +30.1% |
| Profit (loss) for the period | 9904 | €32,491 | €42,732 | +€10,241 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,491 | €42,732 | +€10,241 | +31.5% |
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 16 October 2026 via checked.be.