Wovafin: 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.
Wovafin
Largest movements
- Receivables within one year +€55,500
up €55,500 (+87.8%), from €63,211 to €118,711
of which Other amounts receivable: +€50,393
- Cash +€14,777
up €14,777 (+47.5%), from €31,107 to €45,884
mainly Net result for the year (+€87,398) and Depreciation (+€11,315)
- Tangible fixed assets -€3,056
down €3,056 (-6.8%), from €45,016 to €41,960
- Reserves +€87,398
up €87,398 (+128%), from €68,113 to €155,511
- Debts after one year -€12,549
down €12,549 (-43.4%), from €28,948 to €16,399
- Other debts -€7,815
down €7,815 (-100%), from €7,815 to €0
- Gross operating margin +€26,207
up €26,207 (+27.2%), from €96,250 to €122,457
- Taxes +€6,244
up €6,244 (+36.0%), from €17,353 to €23,597
- Depreciation +€1,891
up €1,891 (+20.1%), from €9,424 to €11,315
- Financial income +€1,410
new in 2025: €1,410
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 | €139,905 | €208,850 | +€68,945 | +49.3% |
| Fixed assets | 21/28 | €45,016 | €41,960 | -€3,056 | -6.8% |
| Tangible fixed assets | 22/27 | €45,016 | €41,960 | -€3,056 | -6.8% |
| Furniture and vehicles | 24 | €45,016 | €41,960 | -€3,056 | -6.8% |
| Current assets | 29/58 | €94,889 | €166,889 | +€72,000 | +75.9% |
| Amounts receivable within one year | 40/41 | €63,211 | €118,711 | +€55,500 | +87.8% |
| Trade receivables | 40 | €63,211 | €68,318 | +€5,107 | +8.1% |
| Other amounts receivable | 41 | - | €50,393 | +€50,393 | |
| Cash at bank and in hand | 54/58 | €31,107 | €45,884 | +€14,777 | +47.5% |
| Deferred charges and accrued income | 490/1 | €571 | €2,295 | +€1,723 | +302% |
| Total equity and liabilities | 10/49 | €139,905 | €208,850 | +€68,945 | +49.3% |
| Equity | 10/15 | €69,613 | €157,011 | +€87,398 | +126% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €68,113 | €155,511 | +€87,398 | +128% |
| Distributable reserves | 133 | €68,113 | €155,511 | +€87,398 | +128% |
| Amounts payable | 17/49 | €70,292 | €51,838 | -€18,454 | -26.3% |
| Amounts payable after more than one year | 17 | €28,948 | €16,399 | -€12,549 | -43.4% |
| Financial debts | 170/4 | €28,948 | €16,399 | -€12,549 | -43.4% |
| Amounts payable within one year | 42/48 | €41,344 | €35,440 | -€5,905 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €12,064 | €12,549 | +€485 | +4.0% |
| Trade debts | 44 | €260 | €866 | +€606 | +233% |
| Suppliers | 440/4 | €260 | €866 | +€606 | +233% |
| Taxes, remuneration and social security | 45 | €21,206 | €22,025 | +€819 | +3.9% |
| Taxes | 450/3 | €18,251 | €19,065 | +€814 | +4.5% |
| Remuneration and social security | 454/9 | €2,955 | €2,959 | +€5 | +0.2% |
| Other amounts payable | 47/48 | €7,815 | €0 | -€7,815 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,424 | €11,315 | +€1,891 | +20.1% |
| Other operating charges | 640/8 | - | €63 | +€63 | |
| Gross operating margin | 9900 | €96,250 | €122,457 | +€26,207 | +27.2% |
| Operating profit (loss) | 9901 | €86,826 | €111,079 | +€24,253 | +27.9% |
| Financial income | 75/76B | - | €1,410 | +€1,410 | |
| Recurring financial income | 75 | - | €1,410 | +€1,410 | |
| Financial charges | 65/66B | €1,359 | €1,494 | +€134 | +9.9% |
| Recurring financial charges | 65 | €1,359 | €1,494 | +€134 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €85,466 | €110,995 | +€25,529 | +29.9% |
| Income taxes | 67/77 | €17,353 | €23,597 | +€6,244 | +36.0% |
| Profit (loss) for the period | 9904 | €68,113 | €87,398 | +€19,285 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €68,113 | €87,398 | +€19,285 | +28.3% |
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 14 October 2026 via checked.be.