WORK WELL: what changed
What changed
WORK WELL
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€83,022
2025 · €66,562+€16,460
Equity
€234,497
2025 · €151,475+€83,022
Cash
€73,962
2025 · €58,274+€15,688
Balance sheet total
€267,512
2025 · €180,265+€87,247
Largest movements
Assets
- Current investments +€81,000
up €81,000 (+73.6%), from €110,000 to €191,000
- Cash +€15,688
up €15,688 (+26.9%), from €58,274 to €73,962
mainly Net result for the year (+€83,022) and Depreciation (+€9,469)
- Tangible fixed assets -€7,942
down €7,942 (-79.1%), from €10,043 to €2,101
Equity and liabilities
- Reserves +€83,022
up €83,022 (+55.9%), from €148,475 to €231,497
- Tax, wage and social debts +€4,481
up €4,481 (+16.0%), from €28,034 to €32,515
Income statement
- Gross operating margin +€21,345
up €21,345 (+23.1%), from €92,538 to €113,883
- Taxes +€4,613
up €4,613 (+25.2%), from €18,276 to €22,890
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€66,562
Gross operating margin
+€21,345
Depreciation
-€584
Other operating charges
+€91
Financial income
+€274
Financial charges
-€52
Taxes
-€4,613
Result 2026
€83,022
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€98,215
Investment
-€82,527
Financing
€0
Cash 2025
€58,274
From operations (derived)
+€98,215
Net result for the year
+€83,022
Depreciation
+€9,469
Receivables within one year
+€1,500
Trade debts
-€256
Tax, wage and social debts
+€4,481
Investment (derived)
-€82,527
Investment in fixed assets (net)
-€1,527
Current investments
-€81,000
Cash 2026
€73,962
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €180,265 | €267,512 | +€87,247 | +48.4% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €10,043 | €2,101 | -€7,942 | -79.1% |
| Tangible fixed assets | 22/27 | €10,043 | €2,101 | -€7,942 | -79.1% |
| Furniture and vehicles | 24 | €10,043 | €2,101 | -€7,942 | -79.1% |
| Current assets | 29/58 | €170,222 | €265,411 | +€95,188 | +55.9% |
| Amounts receivable within one year | 40/41 | €1,949 | €449 | -€1,500 | -77.0% |
| Trade receivables | 40 | €474 | €0 | -€474 | -100% |
| Other amounts receivable | 41 | €1,474 | €449 | -€1,025 | -69.6% |
| Current investments | 50/53 | €110,000 | €191,000 | +€81,000 | +73.6% |
| Cash at bank and in hand | 54/58 | €58,274 | €73,962 | +€15,688 | +26.9% |
| Total equity and liabilities | 10/49 | €180,265 | €267,512 | +€87,247 | +48.4% |
| Equity | 10/15 | €151,475 | €234,497 | +€83,022 | +54.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €148,475 | €231,497 | +€83,022 | +55.9% |
| Distributable reserves | 133 | €148,475 | €231,497 | +€83,022 | +55.9% |
| Amounts payable | 17/49 | €28,790 | €33,015 | +€4,225 | +14.7% |
| Amounts payable within one year | 42/48 | €28,790 | €33,015 | +€4,225 | +14.7% |
| Trade debts | 44 | €756 | €500 | -€256 | -33.8% |
| Suppliers | 440/4 | €756 | €500 | -€256 | -33.8% |
| Taxes, remuneration and social security | 45 | €28,034 | €32,515 | +€4,481 | +16.0% |
| Taxes | 450/3 | €28,034 | €32,515 | +€4,481 | +16.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,885 | €9,469 | +€584 | +6.6% |
| Other operating charges | 640/8 | €916 | €825 | -€91 | -9.9% |
| Gross operating margin | 9900 | €92,538 | €113,883 | +€21,345 | +23.1% |
| Operating profit (loss) | 9901 | €82,738 | €103,589 | +€20,852 | +25.2% |
| Financial income | 75/76B | €2,218 | €2,492 | +€274 | +12.4% |
| Recurring financial income | 75 | €2,218 | €2,492 | +€274 | +12.4% |
| Financial charges | 65/66B | €118 | €170 | +€52 | +44.5% |
| Recurring financial charges | 65 | €118 | €170 | +€52 | +44.5% |
| Profit (loss) for the period before taxes | 9903 | €84,838 | €105,911 | +€21,073 | +24.8% |
| Income taxes | 67/77 | €18,276 | €22,890 | +€4,613 | +25.2% |
| Profit (loss) for the period | 9904 | €66,562 | €83,022 | +€16,460 | +24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €66,562 | €83,022 | +€16,460 | +24.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.