WOELF: 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.
WOELF
Largest movements
- Cash +€214,233
up €214,233 (+174%), from €123,239 to €337,472
mainly Net result for the year (+€142,989) and Receivables after one year (+€125,000)
- Receivables after one year -€125,000
down €125,000 (-100%), from €125,000 to €0
- Receivables within one year -€113,618
down €113,618 (-35.2%), from €322,846 to €209,227
of which Other amounts receivable: -€134,824
- Current investments -€50,414
down €50,414 (-100%), from €50,414 to €0
- Stocks and contracts +€16,456
up €16,456 (+21.7%), from €75,874 to €92,330
- Other debts -€45,456
down €45,456 (-68.0%), from €66,853 to €21,397
- Reserves -€19,011
down €19,011 (-3.6%), from €520,926 to €501,915
of which Distributable reserves: -€19,011
- Debts after one year -€14,674
down €14,674 (-25.9%), from €56,586 to €41,912
- Tax, wage and social debts +€8,673
up €8,673 (+14.1%), from €61,499 to €70,172
of which Taxes: +€13,486
- Staff costs -€26,440
down €26,440 (-15.5%), from €170,282 to €143,842
- Taxes +€12,671
up €12,671 (+20.0%), from €63,284 to €75,955
- Depreciation +€4,085
up €4,085 (+22.0%), from €18,537 to €22,622
- Other operating charges -€3,958
down €3,958 (-45.3%), from €8,740 to €4,782
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 | €756,878 | €685,603 | -€71,275 | -9.4% |
| Fixed assets | 21/28 | €46,775 | €39,926 | -€6,849 | -14.6% |
| Tangible fixed assets | 22/27 | €46,415 | €39,566 | -€6,849 | -14.8% |
| Land and buildings | 22 | €32,024 | €26,830 | -€5,194 | -16.2% |
| Plant, machinery and equipment | 23 | €5,919 | €6,297 | +€378 | +6.4% |
| Furniture and vehicles | 24 | €8,471 | €6,438 | -€2,033 | -24.0% |
| Financial fixed assets | 28 | €360 | €360 | = | 0.0% |
| Current assets | 29/58 | €710,104 | €645,677 | -€64,426 | -9.1% |
| Amounts receivable after more than one year | 29 | €125,000 | €0 | -€125,000 | -100% |
| Other amounts receivable | 291 | €125,000 | €0 | -€125,000 | -100% |
| Stocks and contracts in progress | 3 | €75,874 | €92,330 | +€16,456 | +21.7% |
| Stocks | 30/36 | €75,874 | €92,330 | +€16,456 | +21.7% |
| Amounts receivable within one year | 40/41 | €322,846 | €209,227 | -€113,618 | -35.2% |
| Trade receivables | 40 | €23,392 | €44,597 | +€21,205 | +90.7% |
| Other amounts receivable | 41 | €299,454 | €164,630 | -€134,824 | -45.0% |
| Current investments | 50/53 | €50,414 | €0 | -€50,414 | -100% |
| Cash at bank and in hand | 54/58 | €123,239 | €337,472 | +€214,233 | +174% |
| Deferred charges and accrued income | 490/1 | €12,730 | €6,648 | -€6,083 | -47.8% |
| Total equity and liabilities | 10/49 | €756,878 | €685,603 | -€71,275 | -9.4% |
| Equity | 10/15 | €540,926 | €521,915 | -€19,011 | -3.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €520,926 | €501,915 | -€19,011 | -3.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €520,926 | €501,915 | -€19,011 | -3.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €215,952 | €163,688 | -€52,264 | -24.2% |
| Amounts payable after more than one year | 17 | €56,586 | €41,912 | -€14,674 | -25.9% |
| Financial debts | 170/4 | €56,586 | €41,912 | -€14,674 | -25.9% |
| Amounts payable within one year | 42/48 | €158,273 | €118,539 | -€39,735 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €14,381 | €14,674 | +€293 | +2.0% |
| Trade debts | 44 | €15,540 | €12,295 | -€3,245 | -20.9% |
| Suppliers | 440/4 | €15,540 | €12,295 | -€3,245 | -20.9% |
| Taxes, remuneration and social security | 45 | €61,499 | €70,172 | +€8,673 | +14.1% |
| Taxes | 450/3 | €40,819 | €54,305 | +€13,486 | +33.0% |
| Remuneration and social security | 454/9 | €20,680 | €15,867 | -€4,813 | -23.3% |
| Other amounts payable | 47/48 | €66,853 | €21,397 | -€45,456 | -68.0% |
| Accrued charges and deferred income | 492/3 | €1,093 | €3,238 | +€2,144 | +196% |
| Remuneration, social security and pensions | 62 | €170,282 | €143,842 | -€26,440 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,537 | €22,622 | +€4,085 | +22.0% |
| Other operating charges | 640/8 | €8,740 | €4,782 | -€3,958 | -45.3% |
| Non-recurring operating charges | 66A | €374 | €0 | -€374 | -100% |
| Gross operating margin | 9900 | €372,596 | €375,082 | +€2,485 | +0.7% |
| Operating profit (loss) | 9901 | €174,664 | €203,836 | +€29,172 | +16.7% |
| Financial income | 75/76B | €23,762 | €22,373 | -€1,390 | -5.8% |
| Recurring financial income | 75 | €23,762 | €22,373 | -€1,390 | -5.8% |
| Financial charges | 65/66B | €4,216 | €7,265 | +€3,049 | +72.3% |
| Recurring financial charges | 65 | €4,216 | €7,265 | +€3,049 | +72.3% |
| Profit (loss) for the period before taxes | 9903 | €194,210 | €218,944 | +€24,734 | +12.7% |
| Income taxes | 67/77 | €63,284 | €75,955 | +€12,671 | +20.0% |
| Profit (loss) for the period | 9904 | €130,926 | €142,989 | +€12,063 | +9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €130,926 | €142,989 | +€12,063 | +9.2% |
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 25 October 2026 via checked.be.