WOC: 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.
WOC
Largest movements
- Tangible fixed assets +€71,034
up €71,034 (+45.2%), from €157,273 to €228,307
- Cash -€41,530
down €41,530 (-73.1%), from €56,817 to €15,287
mainly Investment in fixed assets (net) (-€106,881) and Contributions, distributions and other (-€23,507)
- Other debts +€22,923
up €22,923 (+19.4%), from €118,173 to €141,095
- Trade debts +€16,552
up €16,552 (+296%), from €5,600 to €22,151
- Debts after one year -€9,700
down €9,700 (-23.9%), from €40,582 to €30,882
- Accrued charges and deferred income -€3,113
down €3,113 (-49.0%), from €6,359 to €3,246
- Gross operating margin +€58,007
up €58,007 (+77.3%), from €75,012 to €133,019
- Staff costs +€30,162
up €30,162 (+101%), from €29,775 to €59,937
- Depreciation +€5,814
up €5,814 (+19.4%), from €30,033 to €35,847
- Taxes +€5,760
up €5,760 (+107%), from €5,404 to €11,164
- Financial charges +€1,455
up €1,455 (+492%), from €296 to €1,751
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 | €226,163 | €253,867 | +€27,704 | +12.2% |
| Fixed assets | 21/28 | €157,273 | €228,307 | +€71,034 | +45.2% |
| Tangible fixed assets | 22/27 | €157,273 | €228,307 | +€71,034 | +45.2% |
| Land and buildings | 22 | €30,962 | €36,445 | +€5,483 | +17.7% |
| Plant, machinery and equipment | 23 | €35,993 | €50,129 | +€14,136 | +39.3% |
| Furniture and vehicles | 24 | €71,378 | €97,825 | +€26,447 | +37.1% |
| Other tangible fixed assets | 26 | €18,938 | €43,906 | +€24,968 | +132% |
| Current assets | 29/58 | €68,890 | €25,560 | -€43,330 | -62.9% |
| Amounts receivable within one year | 40/41 | €11,885 | €9,773 | -€2,113 | -17.8% |
| Trade receivables | 40 | €11,876 | €9,602 | -€2,275 | -19.2% |
| Other amounts receivable | 41 | €9 | €171 | +€162 | +1,785% |
| Cash at bank and in hand | 54/58 | €56,817 | €15,287 | -€41,530 | -73.1% |
| Deferred charges and accrued income | 490/1 | €188 | €501 | +€313 | +166% |
| Total equity and liabilities | 10/49 | €226,163 | €253,867 | +€27,704 | +12.2% |
| Equity | 10/15 | €31,223 | €31,223 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €28,223 | €28,223 | = | 0.0% |
| Distributable reserves | 133 | €28,223 | €28,223 | = | 0.0% |
| Amounts payable | 17/49 | €194,940 | €222,644 | +€27,704 | +14.2% |
| Amounts payable after more than one year | 17 | €40,582 | €30,882 | -€9,700 | -23.9% |
| Financial debts | 170/4 | €40,582 | €30,882 | -€9,700 | -23.9% |
| Amounts payable within one year | 42/48 | €147,998 | €188,516 | +€40,517 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €9,418 | €9,700 | +€283 | +3.0% |
| Trade debts | 44 | €5,600 | €22,151 | +€16,552 | +296% |
| Suppliers | 440/4 | €5,600 | €22,151 | +€16,552 | +296% |
| Taxes, remuneration and social security | 45 | €14,809 | €15,569 | +€761 | +5.1% |
| Taxes | 450/3 | €8,475 | €6,043 | -€2,432 | -28.7% |
| Remuneration and social security | 454/9 | €6,334 | €9,526 | +€3,193 | +50.4% |
| Other amounts payable | 47/48 | €118,173 | €141,095 | +€22,923 | +19.4% |
| Accrued charges and deferred income | 492/3 | €6,359 | €3,246 | -€3,113 | -49.0% |
| Remuneration, social security and pensions | 62 | €29,775 | €59,937 | +€30,162 | +101% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,033 | €35,847 | +€5,814 | +19.4% |
| Other operating charges | 640/8 | €495 | €814 | +€319 | +64.5% |
| Gross operating margin | 9900 | €75,012 | €133,019 | +€58,007 | +77.3% |
| Operating profit (loss) | 9901 | €14,709 | €36,421 | +€21,712 | +148% |
| Financial income | 75/76B | €0 | €0 | +€0 | +277% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +277% |
| Financial charges | 65/66B | €296 | €1,751 | +€1,455 | +492% |
| Recurring financial charges | 65 | €296 | €1,751 | +€1,455 | +492% |
| Profit (loss) for the period before taxes | 9903 | €14,413 | €34,670 | +€20,257 | +141% |
| Income taxes | 67/77 | €5,404 | €11,164 | +€5,760 | +107% |
| Profit (loss) for the period | 9904 | €9,009 | €23,507 | +€14,497 | +161% |
| Profit (loss) for the period to be appropriated | 9905 | €9,009 | €23,507 | +€14,497 | +161% |
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 19 October 2026 via checked.be.