Wout & San: 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.
Wout & San
Largest movements
- Receivables within one year +€22,559
up €22,559 (+60.7%), from €37,194 to €59,753
of which Trade receivables: +€48,198
- Tangible fixed assets +€13,973
up €13,973 (+2.5%), from €550,592 to €564,565
of which Land and buildings: +€38,891
- Cash -€7,237
down €7,237 (-9.8%), from €73,870 to €66,633
mainly Investment in fixed assets (net) (-€104,349) and Trade debts (-€47,744)
- Reserves +€62,000
up €62,000 (+78.3%), from €79,231 to €141,231
of which Distributable reserves: +€62,000
- Trade debts -€47,744
down €47,744 (-69.7%), from €68,479 to €20,735
- Other debts -€24,406
down €24,406 (-30.4%), from €80,227 to €55,821
- Tax, wage and social debts +€22,951
up €22,951 (+261%), from €8,789 to €31,740
of which Taxes: +€19,451
- Current portion of long-term debt +€14,395
up €14,395 (+41.5%), from €34,678 to €49,073
- Gross operating margin +€102,809
up €102,809 (+109%), from €94,009 to €196,818
- Financial income -€39,298
down €39,298 (-98.4%), from €39,950 to €652
of which Non-recurring financial income: -€39,950
- Depreciation +€35,395
up €35,395 (+64.8%), from €54,617 to €90,012
- Taxes +€15,673
up €15,673 (+127%), from €12,370 to €28,043
- Other operating charges -€9,551
down €9,551 (-80.5%), from €11,866 to €2,315
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 | €661,858 | €692,699 | +€30,841 | +4.7% |
| Fixed assets | 21/28 | €550,794 | €565,131 | +€14,337 | +2.6% |
| Intangible fixed assets | 21 | - | €161 | +€161 | |
| Tangible fixed assets | 22/27 | €550,592 | €564,565 | +€13,973 | +2.5% |
| Land and buildings | 22 | €345,149 | €384,040 | +€38,891 | +11.3% |
| Plant, machinery and equipment | 23 | €205,443 | €180,525 | -€24,918 | -12.1% |
| Financial fixed assets | 28 | €203 | €405 | +€203 | +100% |
| Current assets | 29/58 | €111,064 | €127,569 | +€16,504 | +14.9% |
| Amounts receivable within one year | 40/41 | €37,194 | €59,753 | +€22,559 | +60.7% |
| Trade receivables | 40 | €11,523 | €59,721 | +€48,198 | +418% |
| Other amounts receivable | 41 | €25,671 | €33 | -€25,639 | -99.9% |
| Cash at bank and in hand | 54/58 | €73,870 | €66,633 | -€7,237 | -9.8% |
| Deferred charges and accrued income | 490/1 | - | €1,182 | +€1,182 | |
| Total equity and liabilities | 10/49 | €661,858 | €692,699 | +€30,841 | +4.7% |
| Equity | 10/15 | €104,841 | €166,928 | +€62,087 | +59.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €79,231 | €141,231 | +€62,000 | +78.3% |
| Non-distributable reserves | 130/1 | €1,415 | €1,415 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,415 | €1,415 | = | 0.0% |
| Distributable reserves | 133 | €77,816 | €139,816 | +€62,000 | +79.7% |
| Profit (loss) carried forward | 14 | €7,010 | €7,097 | +€87 | +1.2% |
| Amounts payable | 17/49 | €557,018 | €525,771 | -€31,246 | -5.6% |
| Amounts payable after more than one year | 17 | €362,456 | €364,589 | +€2,133 | +0.6% |
| Financial debts | 170/4 | €362,456 | €364,589 | +€2,133 | +0.6% |
| Amounts payable within one year | 42/48 | €192,173 | €157,370 | -€34,804 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | €34,678 | €49,073 | +€14,395 | +41.5% |
| Trade debts | 44 | €68,479 | €20,735 | -€47,744 | -69.7% |
| Suppliers | 440/4 | €68,479 | €20,735 | -€47,744 | -69.7% |
| Taxes, remuneration and social security | 45 | €8,789 | €31,740 | +€22,951 | +261% |
| Taxes | 450/3 | €8,789 | €28,240 | +€19,451 | +221% |
| Remuneration and social security | 454/9 | - | €3,500 | +€3,500 | |
| Other amounts payable | 47/48 | €80,227 | €55,821 | -€24,406 | -30.4% |
| Accrued charges and deferred income | 492/3 | €2,388 | €3,812 | +€1,424 | +59.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,617 | €90,012 | +€35,395 | +64.8% |
| Other operating charges | 640/8 | €11,866 | €2,315 | -€9,551 | -80.5% |
| Gross operating margin | 9900 | €94,009 | €196,818 | +€102,809 | +109% |
| Operating profit (loss) | 9901 | €27,526 | €104,491 | +€76,964 | +280% |
| Financial income | 75/76B | €39,950 | €652 | -€39,298 | -98.4% |
| Recurring financial income | 75 | €0 | €652 | +€652 | +6,516,500% |
| Non-recurring financial income | 76B | €39,950 | - | -€39,950 | |
| Financial charges | 65/66B | €21,645 | €15,012 | -€6,633 | -30.6% |
| Recurring financial charges | 65 | €7,224 | €15,012 | +€7,788 | +108% |
| Non-recurring financial charges | 66B | €14,420 | - | -€14,420 | |
| Profit (loss) for the period before taxes | 9903 | €45,831 | €90,130 | +€44,299 | +96.7% |
| Income taxes | 67/77 | €12,370 | €28,043 | +€15,673 | +127% |
| Profit (loss) for the period | 9904 | €33,461 | €62,087 | +€28,626 | +85.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,461 | €62,087 | +€28,626 | +85.5% |
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 21 October 2026 via checked.be.