WOW-P1: 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.
WOW-P1
Largest movements
- Stocks and contracts -€2.1m
down €2.1m (-16.6%), from €12.9m to €10.7m
- Receivables after one year +€1.2m
new in 2025: €1.2m
- Receivables within one year -€194,930
down €194,930 (-70.3%), from €277,444 to €82,514
of which Other amounts receivable: -€251,630
- Deferred charges and accrued income +€151,000
up €151,000 (+473%), from €31,920 to €182,920
- Trade debts -€5.6m
down €5.6m (-98.1%), from €5.7m to €109,463
- Contributions +€4.5m
up €4.5m (+45,000%), from €10,000 to €4.5m
- Short-term financial debts +€795,061
up €795,061 (+11.8%), from €6.8m to €7.6m
- Profit (loss) carried forward -€733,824
down €733,824 (-31.0%), from -€2.4m to -€3.1m
- Debts after one year -€558,708
down €558,708 (-14.0%), from €4.0m to €3.4m
- Financial charges -€226,504
down €226,504 (-22.7%), from €998,495 to €771,990
- Financial income +€128,486
up €128,486 (+9,834%), from €1,307 to €129,792
- Gross operating margin +€50,120
up €50,120 (+55.4%), from -€90,529 to -€40,410
- Taxes +€3,845
new in 2025: €3,845
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 | €14,221,529 | €13,129,384 | -€1.1m | -7.7% |
| Fixed assets | 21/28 | €1,014,506 | €968,254 | -€46,253 | -4.6% |
| Tangible fixed assets | 22/27 | €1,014,506 | €968,254 | -€46,253 | -4.6% |
| Plant, machinery and equipment | 23 | €1,006,498 | €961,295 | -€45,203 | -4.5% |
| Furniture and vehicles | 24 | €8,009 | €6,959 | -€1,050 | -13.1% |
| Current assets | 29/58 | €13,207,022 | €12,161,130 | -€1.0m | -7.9% |
| Amounts receivable after more than one year | 29 | - | €1,158,792 | +€1.2m | |
| Other amounts receivable | 291 | - | €1,158,792 | +€1.2m | |
| Stocks and contracts in progress | 3 | €12,868,115 | €10,725,841 | -€2.1m | -16.6% |
| Stocks | 30/36 | €12,868,115 | €10,725,841 | -€2.1m | -16.6% |
| Amounts receivable within one year | 40/41 | €277,444 | €82,514 | -€194,930 | -70.3% |
| Trade receivables | 40 | €25,814 | €82,514 | +€56,701 | +220% |
| Other amounts receivable | 41 | €251,630 | - | -€251,630 | |
| Cash at bank and in hand | 54/58 | €29,543 | €11,062 | -€18,480 | -62.6% |
| Deferred charges and accrued income | 490/1 | €31,920 | €182,920 | +€151,000 | +473% |
| Total equity and liabilities | 10/49 | €14,221,529 | €13,129,384 | -€1.1m | -7.7% |
| Equity | 10/15 | -€2,354,576 | €1,411,599 | +€3.8m | |
| Contributions | 10/11 | €10,000 | €4,510,000 | +€4.5m | +45,000% |
| Profit (loss) carried forward | 14 | -€2,364,576 | -€3,098,401 | -€733,824 | -31.0% |
| Amounts payable | 17/49 | €16,576,105 | €11,717,784 | -€4.9m | -29.3% |
| Amounts payable after more than one year | 17 | €4,005,047 | €3,446,339 | -€558,708 | -14.0% |
| Financial debts | 170/4 | €4,005,047 | €3,446,339 | -€558,708 | -14.0% |
| Amounts payable within one year | 42/48 | €12,427,523 | €7,838,283 | -€4.6m | -36.9% |
| Financial debts | 43 | €6,756,865 | €7,551,926 | +€795,061 | +11.8% |
| Credit institutions | 430/8 | €6,756,865 | €7,551,926 | +€795,061 | +11.8% |
| Trade debts | 44 | €5,664,538 | €109,463 | -€5.6m | -98.1% |
| Suppliers | 440/4 | €5,664,538 | €109,463 | -€5.6m | -98.1% |
| Advances received on contracts in progress | 46 | €6,120 | €455 | -€5,665 | -92.6% |
| Taxes, remuneration and social security | 45 | - | €176,439 | +€176,439 | |
| Taxes | 450/3 | - | €176,439 | +€176,439 | |
| Accrued charges and deferred income | 492/3 | €143,535 | €433,163 | +€289,627 | +202% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,642 | €46,253 | +€611 | +1.3% |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | -€90,529 | -€40,410 | +€50,120 | +55.4% |
| Operating profit (loss) | 9901 | -€137,256 | -€87,781 | +€49,475 | +36.0% |
| Financial income | 75/76B | €1,307 | €129,792 | +€128,486 | +9,834% |
| Recurring financial income | 75 | €1,307 | €129,792 | +€128,486 | +9,834% |
| Financial charges | 65/66B | €998,495 | €771,990 | -€226,504 | -22.7% |
| Recurring financial charges | 65 | €998,495 | €771,990 | -€226,504 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,134,444 | -€729,979 | +€404,465 | +35.7% |
| Income taxes | 67/77 | - | €3,845 | +€3,845 | |
| Profit (loss) for the period | 9904 | -€1,134,444 | -€733,824 | +€400,620 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,134,444 | -€733,824 | +€400,620 | +35.3% |
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 18 October 2026 via checked.be.