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.
WOUTERS
Largest movements
- Receivables within one year -€27,002
down €27,002 (-66.1%), from €40,851 to €13,849
of which Trade receivables: -€22,750
- Cash +€15,170
up €15,170 (+41.5%), from €36,512 to €51,682
mainly Receivables within one year (+€27,002) and Depreciation (+€15,257)
- Tangible fixed assets -€12,986
down €12,986 (-21.6%), from €60,217 to €47,231
of which Furniture and vehicles: -€11,380
- Stocks and contracts -€7,999
down €7,999 (-44.9%), from €17,820 to €9,822
- Debts after one year -€14,406
down €14,406 (-45.1%), from €31,976 to €17,570
- Trade debts -€13,343
down €13,343 (-63.9%), from €20,888 to €7,545
- Tax, wage and social debts -€10,489
down €10,489 (-55.3%), from €18,956 to €8,467
of which Taxes: -€10,489
- Reserves +€4,278
up €4,278 (+8.2%), from €52,298 to €56,577
- Other debts +€1,725
up €1,725 (+80.8%), from €2,134 to €3,859
- Other operating charges +€1,264
up €1,264 (+280%), from €451 to €1,715
- Financial charges +€1,050
up €1,050 (+43.7%), from €2,403 to €3,453
- Gross operating margin +€640
up €640 (+2.4%), from €27,231 to €27,871
- Taxes +€534
up €534 (+20.3%), from €2,634 to €3,168
- Depreciation +€467
up €467 (+3.2%), from €14,790 to €15,257
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 | €158,680 | €127,024 | -€31,656 | -19.9% |
| Fixed assets | 21/28 | €60,685 | €47,366 | -€13,319 | -21.9% |
| Intangible fixed assets | 21 | €333 | €0 | -€333 | -100% |
| Tangible fixed assets | 22/27 | €60,217 | €47,231 | -€12,986 | -21.6% |
| Plant, machinery and equipment | 23 | €8,139 | €7,059 | -€1,080 | -13.3% |
| Furniture and vehicles | 24 | €47,030 | €35,650 | -€11,380 | -24.2% |
| Other tangible fixed assets | 26 | €5,048 | €4,522 | -€526 | -10.4% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €97,995 | €79,658 | -€18,337 | -18.7% |
| Stocks and contracts in progress | 3 | €17,820 | €9,822 | -€7,999 | -44.9% |
| Stocks | 30/36 | €17,820 | €9,822 | -€7,999 | -44.9% |
| Amounts receivable within one year | 40/41 | €40,851 | €13,849 | -€27,002 | -66.1% |
| Trade receivables | 40 | €36,599 | €13,849 | -€22,750 | -62.2% |
| Other amounts receivable | 41 | €4,252 | €0 | -€4,252 | -100% |
| Cash at bank and in hand | 54/58 | €36,512 | €51,682 | +€15,170 | +41.5% |
| Deferred charges and accrued income | 490/1 | €2,811 | €4,306 | +€1,495 | +53.2% |
| Total equity and liabilities | 10/49 | €158,680 | €127,024 | -€31,656 | -19.9% |
| Equity | 10/15 | €70,898 | €75,177 | +€4,278 | +6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €52,298 | €56,577 | +€4,278 | +8.2% |
| Distributable reserves | 133 | €52,298 | €56,577 | +€4,278 | +8.2% |
| Amounts payable | 17/49 | €87,781 | €51,847 | -€35,934 | -40.9% |
| Amounts payable after more than one year | 17 | €31,976 | €17,570 | -€14,406 | -45.1% |
| Financial debts | 170/4 | €31,976 | €17,570 | -€14,406 | -45.1% |
| Amounts payable within one year | 42/48 | €55,806 | €34,277 | -€21,528 | -38.6% |
| Current portion of amounts payable after more than one year | 42 | €13,827 | €14,406 | +€579 | +4.2% |
| Trade debts | 44 | €20,888 | €7,545 | -€13,343 | -63.9% |
| Suppliers | 440/4 | €20,888 | €7,545 | -€13,343 | -63.9% |
| Taxes, remuneration and social security | 45 | €18,956 | €8,467 | -€10,489 | -55.3% |
| Taxes | 450/3 | €16,856 | €6,367 | -€10,489 | -62.2% |
| Remuneration and social security | 454/9 | €2,100 | €2,100 | = | 0.0% |
| Other amounts payable | 47/48 | €2,134 | €3,859 | +€1,725 | +80.8% |
| Non-recurring operating income | 76A | €5,000 | €0 | -€5,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,790 | €15,257 | +€467 | +3.2% |
| Other operating charges | 640/8 | €451 | €1,715 | +€1,264 | +280% |
| Gross operating margin | 9900 | €27,231 | €27,871 | +€640 | +2.4% |
| Operating profit (loss) | 9901 | €11,990 | €10,899 | -€1,091 | -9.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -40.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -40.0% |
| Financial charges | 65/66B | €2,403 | €3,453 | +€1,050 | +43.7% |
| Recurring financial charges | 65 | €2,403 | €3,453 | +€1,050 | +43.7% |
| Profit (loss) for the period before taxes | 9903 | €9,587 | €7,446 | -€2,140 | -22.3% |
| Income taxes | 67/77 | €2,634 | €3,168 | +€534 | +20.3% |
| Profit (loss) for the period | 9904 | €6,953 | €4,278 | -€2,675 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,953 | €4,278 | -€2,675 | -38.5% |
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 13 October 2026 via checked.be.