WOUTERS: 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.
What changed
WOUTERS
NACE 25.110, Manufacture of metal structures and parts of structures
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€763,076
2024 · -€84,553-€678,524
Equity
-€825,062
2024 · -€61,986-€763,076
Cash
€11,386
2024 · €14,795-€3,408
Balance sheet total
€296,169
2024 · €1.1m-€776,649
Largest movements
Assets
- Receivables within one year -€683,049
down €683,049 (-89.2%), from €765,870 to €82,821
of which Other amounts receivable: -€382,278
- Tangible fixed assets -€48,538
down €48,538 (-38.8%), from €125,229 to €76,691
- Stocks and contracts -€48,400
down €48,400 (-32.1%), from €150,600 to €102,200
Equity and liabilities
- Profit (loss) carried forward -€763,076
down €763,076 (-936%), from -€81,546 to -€844,622
- Other debts -€20,199
down €20,199 (-3.2%), from €628,093 to €607,893
Income statement
- Write-downs +€268,011
up €268,011 (+4,079%), from €6,571 to €274,582
- Gross operating margin -€237,633
down €237,633 (-56.1%), from €423,634 to €186,001
- Staff costs -€193,287
down €193,287 (-45.7%), from €422,595 to €229,308
- Depreciation +€5,344
up €5,344 (+9.9%), from €54,200 to €59,543
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.
Result 2024
-€84,553
Gross operating margin
-€237,633
Staff costs
+€193,287
Depreciation
-€5,344
Write-downs
-€268,011
Other operating charges
+€3,757
Other operating items
-€368,513
Financial income
+€0
Financial charges
+€3,933
Result 2025
-€763,076
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€9,034
Investment
-€11,005
Financing
-€1,437
Cash 2024
€14,795
From operations (derived)
+€9,034
Net result for the year
-€763,076
Depreciation
+€59,543
Stocks and contracts
+€48,400
Receivables within one year
+€683,049
Deferred charges and accrued income
-€6,746
Trade debts
+€6,362
Tax, wage and social debts
-€8,361
Other debts
-€20,199
Accrued charges and deferred income
+€10,062
Investment (derived)
-€11,005
Investment in fixed assets (net)
-€11,005
Financing
-€1,437
Current portion of long-term debt
-€1,437
Cash 2025
€11,386
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,072,818 | €296,169 | -€776,649 | -72.4% |
| Fixed assets | 21/28 | €125,364 | €76,826 | -€48,538 | -38.7% |
| Tangible fixed assets | 22/27 | €125,229 | €76,691 | -€48,538 | -38.8% |
| Land and buildings | 22 | €28,772 | €22,204 | -€6,567 | -22.8% |
| Plant, machinery and equipment | 23 | €42,570 | €28,596 | -€13,974 | -32.8% |
| Furniture and vehicles | 24 | €26,768 | €14,518 | -€12,251 | -45.8% |
| Leasing and similar rights | 25 | €27,119 | €11,373 | -€15,746 | -58.1% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €947,455 | €219,343 | -€728,111 | -76.8% |
| Stocks and contracts in progress | 3 | €150,600 | €102,200 | -€48,400 | -32.1% |
| Stocks | 30/36 | €150,600 | €102,200 | -€48,400 | -32.1% |
| Amounts receivable within one year | 40/41 | €765,870 | €82,821 | -€683,049 | -89.2% |
| Trade receivables | 40 | €356,857 | €56,086 | -€300,771 | -84.3% |
| Other amounts receivable | 41 | €409,013 | €26,735 | -€382,278 | -93.5% |
| Cash at bank and in hand | 54/58 | €14,795 | €11,386 | -€3,408 | -23.0% |
| Deferred charges and accrued income | 490/1 | €16,190 | €22,936 | +€6,746 | +41.7% |
| Total equity and liabilities | 10/49 | €1,072,818 | €296,169 | -€776,649 | -72.4% |
| Equity | 10/15 | -€61,986 | -€825,062 | -€763,076 | -1,231% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €960 | €960 | = | 0.0% |
| Tax-exempt reserves | 132 | €960 | €960 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,546 | -€844,622 | -€763,076 | -936% |
| Amounts payable | 17/49 | €1,134,804 | €1,121,231 | -€13,573 | -1.2% |
| Amounts payable within one year | 42/48 | €1,106,876 | €1,083,241 | -€23,635 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €1,437 | - | -€1,437 | |
| Trade debts | 44 | €468,985 | €475,347 | +€6,362 | +1.4% |
| Suppliers | 440/4 | €468,985 | €475,347 | +€6,362 | +1.4% |
| Taxes, remuneration and social security | 45 | €8,361 | - | -€8,361 | |
| Taxes | 450/3 | €4,665 | - | -€4,665 | |
| Remuneration and social security | 454/9 | €3,697 | - | -€3,697 | |
| Other amounts payable | 47/48 | €628,093 | €607,893 | -€20,199 | -3.2% |
| Accrued charges and deferred income | 492/3 | €27,928 | €37,990 | +€10,062 | +36.0% |
| Remuneration, social security and pensions | 62 | €422,595 | €229,308 | -€193,287 | -45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,200 | €59,543 | +€5,344 | +9.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,571 | €274,582 | +€268,011 | +4,079% |
| Other operating charges | 640/8 | €13,778 | €10,021 | -€3,757 | -27.3% |
| Non-recurring operating charges | 66A | - | €368,513 | +€368,513 | |
| Gross operating margin | 9900 | €423,634 | €186,001 | -€237,633 | -56.1% |
| Operating profit (loss) | 9901 | -€73,509 | -€755,966 | -€682,457 | -928% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €11,043 | €7,110 | -€3,933 | -35.6% |
| Recurring financial charges | 65 | €11,043 | €7,110 | -€3,933 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | -€84,553 | -€763,076 | -€678,524 | -802% |
| Profit (loss) for the period | 9904 | -€84,553 | -€763,076 | -€678,524 | -802% |
| Profit (loss) for the period to be appropriated | 9905 | -€84,553 | -€763,076 | -€678,524 | -802% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.