WOBA BUILD: what changed
WOBA BUILD
Largest movements
- Receivables within one year +€148,650
up €148,650 (+53.9%), from €275,910 to €424,561
of which Trade receivables: +€219,514
- Tangible fixed assets -€70,643
down €70,643 (-3.3%), from €2.2m to €2.1m
of which Land and buildings: -€55,693
- Cash -€60,112
down €60,112 (-15.5%), from €389,025 to €328,913
mainly Receivables within one year (-€148,650) and Debts after one year (-€105,976)
- Reserves +€188,610
up €188,610 (+35.6%), from €529,982 to €718,592
- Debts after one year -€105,976
down €105,976 (-6.9%), from €1.5m to €1.4m
- Other debts -€41,722
down €41,722 (-10.4%), from €399,633 to €357,911
- Tax, wage and social debts -€35,164
down €35,164 (-39.9%), from €88,131 to €52,967
of which Taxes: -€35,164
- Staff costs -€34,278
down €34,278, from €34,258 to -€20
- Taxes +€16,367
up €16,367 (+31.7%), from €51,604 to €67,971
- Other operating charges -€8,063
down €8,063 (-51.1%), from €15,781 to €7,718
- Financial charges -€5,854
down €5,854 (-11.1%), from €52,935 to €47,082
- Gross operating margin -€4,376
down €4,376 (-1.0%), from €433,427 to €429,051
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,837,473 | €2,862,102 | +€24,630 | +0.9% |
| Fixed assets | 21/28 | €2,172,537 | €2,101,894 | -€70,643 | -3.3% |
| Tangible fixed assets | 22/27 | €2,161,837 | €2,091,194 | -€70,643 | -3.3% |
| Land and buildings | 22 | €2,015,852 | €1,960,160 | -€55,693 | -2.8% |
| Plant, machinery and equipment | 23 | €48,310 | €42,515 | -€5,795 | -12.0% |
| Furniture and vehicles | 24 | €7,455 | €12,350 | +€4,895 | +65.7% |
| Leasing and similar rights | 25 | €85,452 | €72,185 | -€13,266 | -15.5% |
| Other tangible fixed assets | 26 | €4,768 | €3,984 | -€784 | -16.4% |
| Financial fixed assets | 28 | €10,700 | €10,700 | = | 0.0% |
| Current assets | 29/58 | €664,935 | €760,208 | +€95,272 | +14.3% |
| Amounts receivable within one year | 40/41 | €275,910 | €424,561 | +€148,650 | +53.9% |
| Trade receivables | 40 | €205,046 | €424,561 | +€219,514 | +107% |
| Other amounts receivable | 41 | €70,864 | €0 | -€70,864 | -100% |
| Cash at bank and in hand | 54/58 | €389,025 | €328,913 | -€60,112 | -15.5% |
| Deferred charges and accrued income | 490/1 | - | €6,734 | +€6,734 | |
| Total equity and liabilities | 10/49 | €2,837,473 | €2,862,102 | +€24,630 | +0.9% |
| Equity | 10/15 | €539,982 | €728,592 | +€188,610 | +34.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €529,982 | €718,592 | +€188,610 | +35.6% |
| Distributable reserves | 133 | €529,982 | €718,592 | +€188,610 | +35.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,297,491 | €2,133,510 | -€163,981 | -7.1% |
| Amounts payable after more than one year | 17 | €1,524,830 | €1,418,854 | -€105,976 | -6.9% |
| Financial debts | 170/4 | €1,524,830 | €1,418,854 | -€105,976 | -6.9% |
| Amounts payable within one year | 42/48 | €772,661 | €714,655 | -€58,005 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €103,158 | €105,976 | +€2,818 | +2.7% |
| Trade debts | 44 | €181,739 | €197,802 | +€16,063 | +8.8% |
| Suppliers | 440/4 | €181,739 | €197,802 | +€16,063 | +8.8% |
| Taxes, remuneration and social security | 45 | €88,131 | €52,967 | -€35,164 | -39.9% |
| Taxes | 450/3 | €88,131 | €52,967 | -€35,164 | -39.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €399,633 | €357,911 | -€41,722 | -10.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €34,258 | -€20 | -€34,278 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,972 | €119,221 | +€3,249 | +2.8% |
| Other operating charges | 640/8 | €15,781 | €7,718 | -€8,063 | -51.1% |
| Gross operating margin | 9900 | €433,427 | €429,051 | -€4,376 | -1.0% |
| Operating profit (loss) | 9901 | €267,417 | €302,133 | +€34,716 | +13.0% |
| Financial income | 75/76B | €63 | €1,530 | +€1,466 | +2,312% |
| Recurring financial income | 75 | €63 | €1,530 | +€1,466 | +2,312% |
| Financial charges | 65/66B | €52,935 | €47,082 | -€5,854 | -11.1% |
| Recurring financial charges | 65 | €52,935 | €47,082 | -€5,854 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €214,545 | €256,581 | +€42,036 | +19.6% |
| Income taxes | 67/77 | €51,604 | €67,971 | +€16,367 | +31.7% |
| Profit (loss) for the period | 9904 | €162,941 | €188,610 | +€25,669 | +15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €162,941 | €188,610 | +€25,669 | +15.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.