WOVAK: 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.
WOVAK
Largest movements
- Financial fixed assets +€804,571
up €804,571 (+70.3%), from €1.1m to €1.9m
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year -€35,640
down €35,640 (-51.3%), from €69,446 to €33,806
of which Trade receivables: -€35,990
- Revaluation surpluses +€804,571
new in 2025: €804,571
- Profit (loss) carried forward +€70,254
up €70,254 (+74.7%), from €94,025 to €164,279
- Debts after one year -€33,852
down €33,852 (-3.4%), from €995,576 to €961,724
- Financial income -€19,000
down €19,000 (-93.4%), from €20,350 to €1,349
- Gross operating margin +€3,744
up €3,744 (+3.0%), from €123,016 to €126,761
- Financial charges -€2,866
down €2,866 (-7.6%), from €37,514 to €34,649
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.
Cash bridge derived
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 | €1,286,258 | €2,146,824 | +€860,566 | +66.9% |
| Fixed assets | 21/28 | €1,145,000 | €1,950,917 | +€805,917 | +70.4% |
| Tangible fixed assets | 22/27 | - | €1,346 | +€1,346 | |
| Furniture and vehicles | 24 | - | €1,346 | +€1,346 | |
| Financial fixed assets | 28 | €1,145,000 | €1,949,571 | +€804,571 | +70.3% |
| Current assets | 29/58 | €141,258 | €195,908 | +€54,650 | +38.7% |
| Amounts receivable within one year | 40/41 | €69,446 | €33,806 | -€35,640 | -51.3% |
| Trade receivables | 40 | €69,380 | €33,390 | -€35,990 | -51.9% |
| Other amounts receivable | 41 | €67 | €416 | +€350 | +525.7% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €68,850 | €59,327 | -€9,524 | -13.8% |
| Deferred charges and accrued income | 490/1 | €2,961 | €2,774 | -€187 | -6.3% |
| Total equity and liabilities | 10/49 | €1,286,258 | €2,146,824 | +€860,566 | +66.9% |
| Equity | 10/15 | €194,025 | €1,068,850 | +€874,825 | +450.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €804,571 | +€804,571 | |
| Profit (loss) carried forward | 14 | €94,025 | €164,279 | +€70,254 | +74.7% |
| Amounts payable | 17/49 | €1,092,233 | €1,077,974 | -€14,259 | -1.3% |
| Amounts payable after more than one year | 17 | €995,576 | €961,724 | -€33,852 | -3.4% |
| Financial debts | 170/4 | €995,576 | €961,724 | -€33,852 | -3.4% |
| Amounts payable within one year | 42/48 | €78,725 | €98,153 | +€19,428 | +24.7% |
| Current portion of amounts payable after more than one year | 42 | €35,742 | €36,635 | +€893 | +2.5% |
| Trade debts | 44 | €2,439 | €3,082 | +€644 | +26.4% |
| Suppliers | 440/4 | €2,439 | €3,082 | +€644 | +26.4% |
| Taxes, remuneration and social security | 45 | €38,224 | €53,660 | +€15,436 | +40.4% |
| Taxes | 450/3 | €38,224 | €53,660 | +€15,436 | +40.4% |
| Other amounts payable | 47/48 | €2,320 | €4,775 | +€2,456 | +105.9% |
| Accrued charges and deferred income | 492/3 | €17,931 | €18,097 | +€165 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €168 | +€168 | |
| Other operating charges | 640/8 | €697 | €1,321 | +€624 | +89.4% |
| Gross operating margin | 9900 | €123,016 | €126,761 | +€3,744 | +3.0% |
| Operating profit (loss) | 9901 | €122,319 | €125,271 | +€2,953 | +2.4% |
| Financial income | 75/76B | €20,350 | €1,349 | -€19,000 | -93.4% |
| Recurring financial income | 75 | €20,350 | €1,349 | -€19,000 | -93.4% |
| Financial charges | 65/66B | €37,514 | €34,649 | -€2,866 | -7.6% |
| Recurring financial charges | 65 | €37,514 | €34,649 | -€2,866 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €105,154 | €91,972 | -€13,182 | -12.5% |
| Income taxes | 67/77 | €20,840 | €21,718 | +€878 | +4.2% |
| Profit (loss) for the period | 9904 | €84,314 | €70,254 | -€14,060 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €84,314 | €70,254 | -€14,060 | -16.7% |
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 11 October 2026 via checked.be.