WO&LF: 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.
WO&LF
Largest movements
- Receivables within one year +€36,530
up €36,530 (+42.9%), from €85,238 to €121,767
of which Other amounts receivable: +€51,561
- Tangible fixed assets -€25,891
down €25,891 (-84.0%), from €30,815 to €4,924
of which Furniture and vehicles: -€25,571
- Cash +€6,319
up €6,319 (+11.3%), from €56,079 to €62,398
mainly Net result for the year (+€38,088) and Investment in fixed assets (net) (+€22,765)
- Reserves +€38,088
up €38,088 (+42.4%), from €89,914 to €128,002
- Trade debts -€14,240
down €14,240 (-92.3%), from €15,420 to €1,180
- Debts after one year -€7,051
down €7,051 (-36.1%), from €19,558 to €12,507
- Gross operating margin -€19,897
down €19,897 (-26.4%), from €75,277 to €55,380
- Depreciation -€9,686
down €9,686 (-75.6%), from €12,812 to €3,126
- Financial income +€2,348
up €2,348 (+130.5%), from €1,799 to €4,147
- Taxes +€1,058
up €1,058 (+7.9%), from €13,315 to €14,373
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 | €172,640 | €189,256 | +€16,616 | +9.6% |
| Fixed assets | 21/28 | €30,855 | €4,964 | -€25,891 | -83.9% |
| Tangible fixed assets | 22/27 | €30,815 | €4,924 | -€25,891 | -84.0% |
| Furniture and vehicles | 24 | €28,048 | €2,477 | -€25,571 | -91.2% |
| Other tangible fixed assets | 26 | €2,767 | €2,447 | -€320 | -11.6% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €141,785 | €184,292 | +€42,507 | +30.0% |
| Amounts receivable within one year | 40/41 | €85,238 | €121,767 | +€36,530 | +42.9% |
| Trade receivables | 40 | €27,492 | €12,461 | -€15,032 | -54.7% |
| Other amounts receivable | 41 | €57,745 | €109,307 | +€51,561 | +89.3% |
| Cash at bank and in hand | 54/58 | €56,079 | €62,398 | +€6,319 | +11.3% |
| Deferred charges and accrued income | 490/1 | €468 | €127 | -€341 | -72.9% |
| Total equity and liabilities | 10/49 | €172,640 | €189,256 | +€16,616 | +9.6% |
| Equity | 10/15 | €92,914 | €131,002 | +€38,088 | +41.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €89,914 | €128,002 | +€38,088 | +42.4% |
| Distributable reserves | 133 | €89,914 | €128,002 | +€38,088 | +42.4% |
| Amounts payable | 17/49 | €79,726 | €58,254 | -€21,472 | -26.9% |
| Amounts payable after more than one year | 17 | €19,558 | €12,507 | -€7,051 | -36.1% |
| Financial debts | 170/4 | €19,558 | €12,507 | -€7,051 | -36.1% |
| Amounts payable within one year | 42/48 | €60,168 | €45,747 | -€14,421 | -24.0% |
| Current portion of amounts payable after more than one year | 42 | €8,404 | €7,051 | -€1,353 | -16.1% |
| Financial debts | 43 | €413 | €715 | +€302 | +73.2% |
| Credit institutions | 430/8 | €413 | €715 | +€302 | +73.2% |
| Trade debts | 44 | €15,420 | €1,180 | -€14,240 | -92.3% |
| Suppliers | 440/4 | €15,420 | €1,180 | -€14,240 | -92.3% |
| Taxes, remuneration and social security | 45 | €35,931 | €36,801 | +€870 | +2.4% |
| Taxes | 450/3 | €30,967 | €34,083 | +€3,115 | +10.1% |
| Remuneration and social security | 454/9 | €4,964 | €2,719 | -€2,245 | -45.2% |
| Non-recurring operating income | 76A | - | €6,414 | +€6,414 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,812 | €3,126 | -€9,686 | -75.6% |
| Other operating charges | 640/8 | €1,148 | €1,535 | +€386 | +33.6% |
| Non-recurring operating charges | 66A | - | €1,080 | +€1,080 | |
| Gross operating margin | 9900 | €75,277 | €55,380 | -€19,897 | -26.4% |
| Operating profit (loss) | 9901 | €61,317 | €49,639 | -€11,677 | -19.0% |
| Financial income | 75/76B | €1,799 | €4,147 | +€2,348 | +130.5% |
| Recurring financial income | 75 | €1,799 | €4,147 | +€2,348 | +130.5% |
| Financial charges | 65/66B | €1,523 | €1,325 | -€198 | -13.0% |
| Recurring financial charges | 65 | €1,523 | €1,325 | -€198 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €61,592 | €52,461 | -€9,131 | -14.8% |
| Income taxes | 67/77 | €13,315 | €14,373 | +€1,058 | +7.9% |
| Profit (loss) for the period | 9904 | €48,278 | €38,088 | -€10,190 | -21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,278 | €38,088 | -€10,190 | -21.1% |
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 5 October 2026 via checked.be.